Why do you need to use USDT to buy coins (why do some people buy USDT)?

Why do you need to use USDT to buy coins? Why do you need to use USDT to buy coins?

Stable currency refers to the conversion between fiat currency and virtual digital assets. When the prices of mainstream cryptocurrencies such as Bitcoin and Ethereum reach new highs, the demand for their use increases, and the word “stable” appears. In the blockchain world, there is also a term called value transfer (exchange-trade). If transactions are the process of reaching consensus between buyers and sellers, then exchanges are another way to conduct transactions. However, due to its anonymity and decentralized characteristics, this term has been widely spread.

To facilitate understanding, let’s explain why you need to use USDT to buy coins. 1. What is USDT? USDT is a stable ERC-20 token with unlimited expansion potential, and it is a fully collateralized token. As a stable currency system, it allows users to make peer-to-peer transactions anytime and anywhere without any third-party support or intervention.

USDT is regulated by the New York State Department of Financial Services (NYDFS). NYDFS is responsible for supervising the operation and management of this project. NYDIG is an investment company specializing in the field of digital assets. The company has provided services to billions of dollars of institutional clients, including banking giant BlackRock, American General Life Insurance Company, and other large risk funds and family offices.

2. Why use USDT? USDT is mainly used for payment settlement and transfer, and there are several different types on the market. First is the exchange of fiat currency. Generally, in a transaction, it usually requires acceptance of US dollars or euros to complete. Second, it is mainly based on US dollars. For example, after making a payment through PayPal, there will be a bank card for remittance.

3. USDT has high volatility and scalability, so many people think it is not a suitable choice. However, on the other hand, many countries have issued CBDC (Central Bank Digital Currency) to deal with these issues.

4. How to avoid problems caused by CBDC congestion? Because in most cases, CBDC cannot meet users’ daily shopping habits. In addition, for ordinary consumers, they prefer cash rather than mobile devices. Therefore, cash must be deposited in the bank and then withdrawn from the wallet. This process is not complicated and very secure. 5. Use various payment tools on different platforms. Of course, there are many other applications that can be achieved. For example, by using the Lightning Network or other third-party payment options, friction costs of the entire system can be reduced.

6. What are the benefits of stability? There are many advantages to stability mechanism. First, it can ensure that transactions will not be tampered with. Second, it is faster and lower in cost.

The advantages of stability mechanism lie in ensuring transaction transparency. At the same time,

Why do some people buy USDT

USDT is currently the tenth-ranked cryptocurrency in market capitalization, and its value is positively correlated with the BTC price. It is based on the US dollar, stablecoin, and DeFi protocols, and has grown more than four times in the past few years, becoming one of the top 20 digital currencies in terms of market capitalization. According to data from CoinMarketCap, on January 8, 2019, Bitcoin’s trading volume reached a historical high of $300 million, and within a month, the prices of other cryptocurrencies rose by more than 80%.

Why is USDT so popular? There are two reasons for this:

1. Its decentralized design enables cross-border transactions.

2. Its smart contracts allow users to exchange goods and services by sending tokens and using the token. In addition, this design encourages seamless payments using blockchain networks, thereby reducing costs, improving efficiency, and security.