Terra is a cryptocurrency on the Terra blockchain, with a market ticker symbol UST. As a stablecoin, Terra differs from most coins, with its value pegged to the conventional currency. It ensures price uniformity and prevents heavy fluctuations. In other words, Terra should provide a fiat currency’s stability, along with a cryptocurrency’s decentralization.

The stability of prices makes Terra a great asset to invest in. You can easily convert these tokens into fiat currency when you see fit. There are various methods to do this.

Use Terra Cryptocurrency Exchanges
1

Use Terra Cryptocurrency Exchanges

The easiest and quickest way to convert your Terra tokens to fiat currency is using one of the crypto exchanges. To exchange your UST for fiat currencies, you just need to follow the following steps:

  • Compare different exchanges to decide which platform caters to your needs best.
  • On the cryptocurrency exchange of your choice, make an account and link it with your bank account.
  • Decide how many tokens you want to exchange, and transfer them from your crypto wallet. Select the fiat currency you wish to convert UST to.
  • Once your transaction gets processed, the due amount will be credited to your account.
Sell Terra to Another Person
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Sell Terra to Another Person

Another common way of exchanging your Terra coins for traditional money is selling them to another person. You must find a reliable platform to carry out transactions. Broadly speaking, two types of platforms facilitate such transfers.

P2P platforms allow people to conduct person-to-person transactions. In other words, you get to decide who the buyer is and complete the transaction independently. There is no third-party involvement, so you are free to make your own decisions.

Once you have selected a buyer for your tokens, you just need to enter the buyer’s wallet address and transfer the tokens. When the transaction is processed, the buyer gets the tokens and pays the due amount, transferred to your account.

Brokerages are exchange platforms where a third-party institution is involved in transactions. The broker looks over the whole transaction process, from choosing the buyer to deciding the best time to sell the tokens. You have to pay a brokerage fee for using the service.

Use Terra ATMs
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Use Terra ATMs

Cryptocurrency ATMs allow you to buy or sell tokens in exchange for traditional money. However, Terra ATMs are not available at the moment of writing this article.

FAQ

Can I exchange my Terra coins for fiat currencies?

You can easily exchange your Terra coins for fiat currencies on crypto exchanges or by selling them to another person.

What is meant by P2P platforms?

P2P platforms facilitate person-to-person transactions, enabling you to trade UST with another person. 

What are brokerages?

Brokerages are institutions that can sell UST to another person on your behalf, paying attention to market conditions.  

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