What is USDT?
USDT (Tether) is a stablecoin issued and managed based on blockchain technology, widely used in digital currency trading. To facilitate users in trading USDT, many useful software applications have emerged. Below are some commonly used USDT trading software and the best trading platform apps.
USDT is Tether (USDT), a token based on the stable value currency US dollar (USD) launched by Tether. 1 USDT = 1 dollar, and users can exchange USDT for USD at a 1:1 ratio at any time. Tether strictly adheres to a 1:1 reserve guarantee, meaning that for every USDT token issued, there is a corresponding 1 dollar in their bank account. Users can check their funds on the Tether platform to ensure transparency.
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OKX (Overseas) registration link: https://www.okx.com/join/97763692
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Binance (国内注册): https://www.binance.com/zh-CN/join?ref=565010509
Tether is a virtual currency that links cryptocurrencies to the fiat currency US dollar. Each Tether coin symbolically associates with government-backed fiat currency. Tether is a virtual currency stored in foreign exchange reserve accounts, supported by fiat currency. This method effectively prevents significant price fluctuations in cryptocurrencies, making one Tether coin essentially worth 1 dollar.
Tether is currently the most widely used digital fiat currency. Tethers are used on exchanges like Bitfinex, Shapeshift, GoCoin, and others. Tether's blockchain technology provides world-class security while meeting international compliance standards and regulations. The biggest feature of USDT is that it is equivalent to the same amount of US dollars, 1 USDT = 1 dollar, making it a good value-preserving token in the volatile cryptocurrency market. The company converts cash into digital currency, anchoring or linking the prices of national currencies like the US dollar, euro, and yen. Foreign exchange reserves are published daily and are subject to frequent professional audits. Everything in circulation is always matched with users' reserves.
USDT Wallet Rankings
What is the official USDT download software? Detailed tutorial on USDT deposits and withdrawals.
Hardware Wallets:
Ledger: Ledger is a well-known hardware wallet brand that supports over 5000 types of digital currencies and tokens, including USDT, through its accompanying Ledger Live application. It supports USDT in different protocols like ERC-20 and TRC-20, where ERC-20 format USDT automatically displays upon receipt, while TRC-20 format USDT requires the latest Tron App (0.1.6 or above) to be installed, and after adding the Tron account, the tokens will automatically display (balance must be ≥0.1 TRX).
Trezor: Trezor is also a well-known hardware wallet that currently supports over 1000 types of cryptocurrencies, including USDT, allowing users to securely store and manage USDT.
Software Wallets:
Kraken Wallet: This is a self-hosted wallet supported by Kraken, available on iOS and Android devices. It supports multiple blockchain networks, including Ethereum mainnet, Polygon, Arbitrum, Optimism, Solana, etc., allowing users to securely store USDT and perform sending, receiving, and other operations.
BOSS Wallet: BOSS Wallet is a multi-chain wallet that supports the storage and management of various cryptocurrencies, including USDT. It employs a reinforced sub-key generation strategy using BIP32/39/44 standards to ensure the security and reliability of the private key generation and storage process, while also providing real-time market data, trading analysis tools, and other features.
XBIT Wallet: XBIT Wallet is a decentralized web3 wallet under the XBIT decentralized exchange, supporting seamless switching between USDT wallets and bank cards, achieving a smooth experience of "one entry, multi-chain assets." It uses military-grade encryption chips and biometric dual verification to elevate private key security to a new level.
MetaMask: MetaMask is a commonly used Ethereum wallet plugin that also supports the storage and transfer of USDT. It primarily supports ERC-20 format USDT, allowing users to perform USDT-related operations on the Ethereum network.
Online Wallets: Online wallets like Binance and Coinbase also provide USDT storage and management services through close integration with exchanges, making it convenient for users to trade and manage assets.
Official USDT Download Software
Binance
Binance (click to download, click to register) was established in 2017, originally named Binance eX, and is an exchange headquartered in Seychelles (originally in Beijing), primarily focused on contract trading.
Binance offers services for spot trading, derivatives trading, and financial products for over 300 cryptocurrencies, including Bitcoin and Ethereum.
Binance
Binance (click to download, click to register) is familiar to many who know about virtual currencies, as it grew to become the largest cryptocurrency exchange in the world within just 7 months of operation. As one of the largest exchanges globally, Binance provides high liquidity and robust security measures, making it a preferred choice for both beginners and experienced traders.
One key advantage of Binance is its diverse selection of supported cryptocurrencies. Binance's currency trading services began in 2017, processing about 1.4 million orders per second, offering trading for over 150 cryptocurrencies, including popular ones like Bitcoin, Ethereum, Litecoin, and its own BNB token.
This extensive range ensures ample opportunities for portfolio diversification and emerging investment prospects.
In addition to trading, Binance also offers various ways to earn yields. Users can participate in staking programs, provide liquidity to earn rewards, or use Binance Earn products like savings and flexible deposits. Binance Launchpool also allows users to mine new tokens by staking existing assets (including native BNB tokens) for additional rewards.
By supporting multiple blockchain networks, Binance provides flexibility and choice in managing and executing trades. This multi-chain support enhances accessibility, ensuring users can interact across different blockchain ecosystems and platforms, making Binance a comprehensive and multifunctional trading solution.
PTT users have also given positive feedback on Binance, stating, "For large purchases, it's recommended to go to Binance; the depth of Taiwanese exchanges is too shallow," and "Binance is the largest exchange in the world, making trading convenient with many options. Although it's a trading platform, its staking and flexible savings features allow for more flexible use of funds."
Detailed USDT Deposit Tutorial (Binance Platform)
If you haven't registered on the Binance exchange yet, you can use the registration link and app download address below, along with the video tutorial, to register yourself.
Now let's discuss how to quickly purchase stablecoins on Binance.
When buyers purchase coins, they need to make payments according to the payment methods provided by sellers on the trading page. After completing the payment, buyers should click "I have paid," at which point the seller will release the coins to them.
Open the app homepage and click on the top right corner to recharge/buy coins.
Enter the buy coin page, where there will be options for a custom area and a quick area.
What is C2C trading? How is it related to "Quick Buy Coins"?
C2C: Customer to Customer, also commonly referred to as "peer-to-peer" trading. On Binance's C2C platform, Binance acts as a trusted third party, providing information publishing and guarantee services. Sellers (individuals or merchants) post the quantity and price of USDT they are willing to sell, and buyers can choose suitable orders to purchase.
"Quick Buy Coins" feature: This is a simplified process launched by Binance to further enhance the purchasing experience. You can think of it as "smart C2C trading." You only need to enter the amount of fiat currency you want to spend (e.g., 1000 RMB) or the quantity of USDT you want to buy, and the system will automatically match you with the best-priced seller, completing the entire order process with one click, without the need for you to manually filter sellers.
Setting a Purchase Plan
Taking the quick area as an example, you can choose to buy by amount or by quantity.
The 1X and 2X on the page refer to multiples; for example, if you buy by quantity (minimum 10), then 1X is 10, 2X is 20, and so on. If buying by amount (minimum is 72 RMB), then 1X is 72 RMB, 2X is 144 RMB, and so on.
Confirming the Order
The system will automatically list sellers that meet your amount requirements and have the best prices.
You can see the seller's nickname, order completion rate, average release time, and the payment methods they support (such as bank card, Alipay, WeChat, etc.). Choose a seller with a high completion rate, good reviews, and supports your commonly used payment methods.
After setting your purchase plan, we confirm the purchase order and can choose to pay via WeChat, Alipay, or bank card.
Payment
Make timely payments according to the payment information on the page. After completing the payment, click "I have completed the payment, notify the seller." If you forget to click "I have paid" after making the payment, the order will time out and be canceled; remember to contact customer service for assistance.
Verifying the Order and Completing It
Once the seller receives your payment, they will release the USDT to your Binance fund account within a short time (usually within a few minutes). You will receive a notification in the app, or you can check the progress in "Orders."
Once the seller releases the coins, the USDT you purchased will immediately arrive in your Binance "Fund Account" - "Spot Account."
The USDT has arrived in your spot account. Now you can participate in:
Holding USDT: As a stable asset to save while waiting for opportunities.
Trading other cryptocurrencies: This is the main purpose. Go to "Trade" > "Spot Trading" (or "Standard Version"), search for the cryptocurrency you want to buy in the trading pair, such as BTC/USDT, and then use your USDT to buy BTC.
Participating in Binance Wealth Management: In the "Wealth Management" section, you can deposit USDT into "Flexible Savings" to earn interest or purchase fixed-term financial products for higher returns.
Participating in Launchpad and other new token subscription activities: Usually requires using BNB or USDT.
C2C Withdrawal Tutorial
How to convert virtual currency into RMB and cash out? It's quite simple; first, we go back to the top to "Assets" and then to "Spot Account."
C2C Withdrawal
We first need to transfer USDT from the spot account used for trading back to the fund account used for deposits and withdrawals. Click "Transfer," select USDT, all, and then click "Confirm."
Click the top left corner's "One-click Buy Coins." The entry for buying and selling coins is the same. We can also choose to sell in the quick area or the custom area; I will still choose the "Custom Area."
Click "Sell." The currency is "USDT," and as before, select the payment method we prefer; I will choose "Alipay," select "Show only Shield advertisers," and enter the amount I want to sell, for example, 1000.
We find a seller to sell to.
At this point, we can see a setting for the payment method below. We need to add an account to receive the payment from the other party. Please make sure to use your real-name authenticated account and add all necessary transfer information.
How to Handle C2C Trading Disputes?
Although most transactions go smoothly, issues may occasionally arise, such as the seller not releasing coins after payment or the buyer claiming not to have paid after receiving the funds.
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Do not leave the order page and communicate privately with the other party! All conversations should be conducted through Binance's built-in chat tool, which will serve as key evidence during disputes.
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Immediately click the "Appeal" button on the order page. Binance's official customer service will intervene to handle the situation.
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Provide complete evidence: As a buyer, you need to provide clear screenshots of successful transfers from your bank or payment platform, including order number, amount, time, and recipient information. As a seller, you need to provide bank statement screenshots or other proof of receipt.
Trust Binance's arbitration; they will make a fair judgment based on the evidence provided by both parties.
Through this detailed tutorial, we have comprehensively explained the full set of knowledge and skills for buying and selling USDT through the C2C model on the Binance exchange. From the basics of registration and authentication to core buying and selling operations, and advanced risk prevention, we have broken it down step by step, aiming to make every reader a "skilled sailor" in C2C trading.
Precautions
Security Assurance
Please remain vigilant during transactions and confirm receipt before releasing coins.
It is recommended to use mobile and Google Authenticator for two-factor authentication to ensure account security.
Transaction Fees
Binance C2C trading usually does not charge transaction fees, but there may be certain fees when withdrawing, depending on the withdrawal method and amount.
Exchange Rate Fluctuations
Cryptocurrency prices are highly volatile; it is advisable to understand real-time exchange rates before trading to avoid losses due to rate changes.
By following the above steps, you can successfully buy USDT with RMB on the Binance exchange and perform deposit and withdrawal operations. We hope this tutorial is helpful to you, and wish you happy trading!