There are hundreds of digital currencies in circulation. The value (price) of most digital currencies, including Bitcoin and Ethereum, is influenced by various external factors (e.g., market demand).
However, there is a specific type of digital currency that has a special attribute -- their value is linked to traditional assets. Like USDT (or "Tether"), the token's price is pegged to the price of the U.S. dollar. These digital currencies are called "stablecoins."
The USDT has many different uses. Some traders use it to "lock-in" the asset value of a digital currency investment without converting the asset into fiat currency (e.g., US dollars or euros).
Many platforms use USDT as the settlement currency. The USDT is a popular way to deposit and withdraw money for many digital currency casinos and has many advantages over the traditional fiat currency, the US dollar.
Here's how the USDT works; How to buy USDT; And how to get a free USDT:
What is USDT?
USDT, also known as Tether, is a digital currency issued by Tether Inc. For all issued USDT, Tether will reserve the corresponding value in dollars. This ensures that the price of each USDT is stable. In contrast, the price of digital currencies like Bitcoin or Ethereum fluctuates wildly, while the USDT has a stable price, always at $1.
Using a USDT can be a bit complicated because there are many "types" of USDT. Digital currencies are based on "blockchains" -- BTC is issued on the Bitcoin blockchain, while ETH is issued on the Ethereum blockchain.
However, the USDT is issued on multiple blockchains. It is important to note that the price of USDT is benchmarked against US dollars, regardless of which blockchain it is issued on. USDT is currently available on the following blockchains:
- USDT-Omni is a USDT issued on the Bitcoin blockchain
- USDT-ERC20 is a USDT issued on the Ethereum blockchain
- USDT-TRON (TRC20) is a USDT issued on the TRON blockchain
- USDT-EOS is a USDT issued on the EOS blockchain
Although the above USDT tokens are issued on different blockchains, they are all USDT and have the same price. If you would like to know the price of USDT, AICOIN will provide the latest information on Tether's price. Please note that USDT prices can fluctuate by a few cents at times due to changes in market supply.
How to buy USDT?
If you're interested in trading USDT, it's easy to get started. To purchase USDT, you need to create an account on the digital currency trading platform.
The easiest way to purchase a USDT is through a digital currency exchange platform that supports credit, debit, or other payment methods. These are the trading platforms that support purchasing USDT:
- Blockchain
- Huobi
After the transaction is completed, you can view your USDT in the "wallet/assets/balance" of the trading platform.
Please note that if you are purchasing a USDT token for a particular blockchain, the trading platform may use a special token notation, such as USDT-ERC20 written as "EUSDT".
How to use USDT
To understand how the USDT works, you need to learn how to use the USDT wallet. After a successful purchase of the USDT, the USDT assets can be viewed in the "Escrow Wallet" of the trading platform on which the USDT was purchased.
You might want to:
Store the USDT in a more secure "wallet". A more secure "wallet" can be professional wallet software or real hardware equipment (such as a Ledger wallet).
Send the USDT to a digital currency playground, such as Anonymous Casino
In both cases, you need to copy the tool address that accepts the USDT. When withdrawing money from the trading platform, enter this address into the Receive Address box.
How do I convert USDT into fiat currency?
Converting a USDT into fiat currency, just like buying a USDT, requires a digital currency transaction. Here are some common trading platforms:
- Huobi
- Gate.io
- Okex
When using the above trading platforms, you need to register an account and bind personal information. When trading, you need to choose the way of trading: online banking, mobile banking, Alipay, WeChat, or other third-party payment platforms.
How to get USDT for free?
Stablecoins such as USDT are pegged to the US dollar - but that doesn't mean you can't get free USDT. There are currently some online casinos that offer users some digital currency bonuses for free.
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