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 its bank account. Users can check their funds on the Tether platform to ensure transparency.
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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 symbolizes a connection to a 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, with each Tether essentially valued at 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 store of value 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. The foreign exchange reserves are published daily and are subject to frequent professional audits. Everything in circulation is always matched with the user's 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 such as ERC-20 and TRC-20, where ERC-20 format USDT automatically displays upon receipt, while TRC-20 format USDT requires the installation of the latest Tron App (0.1.6 or above) and adding a Tron account for the tokens to display automatically (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 and receiving operations.
BOSS Wallet: BOSS Wallet is a multi-chain wallet that supports the storage and management of various cryptocurrencies, including USDT. It uses a reinforced sub-key generation strategy, leveraging 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 employs military-grade encryption chips and biometric dual verification to enhance private key security to new heights.
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 through MetaMask.
Online Wallets: Online wallets like Binance and Coinbase, through close integration with exchanges, also provide storage and management services for USDT, 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 known as Binance eX, and is an exchange headquartered in Seychelles (originally in Beijing), primarily focused on contract trading.
Binance offers 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; the exchange grew to become the largest cryptocurrency exchange globally within just 7 months of operation. As one of the largest exchanges in the world, 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, capable of 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 wide range ensures ample opportunities for portfolio diversification and accessing emerging investment prospects.
In addition to trading, Binance also offers various ways to earn returns. 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, the 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 using the payment methods provided by the seller on the trading page. After completing the payment, please click "I have paid," at which point the seller will release the coins to you.
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 on the platform, 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 "intelligent C2C trading." You only need to enter the amount of fiat currency you want to spend (e.g., 1000 RMB) or the amount of USDT you want to purchase, and the system will automatically match you with the merchant offering the best price, completing the entire order process with one click, without needing to manually filter merchants.
Create a buying 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.
Confirm the order
The system will automatically list merchants that meet your amount requirements and offer the best prices.
You can see the merchant's nickname, order completion rate, average coin release time, and their supported payment methods (e.g., bank card, Alipay, WeChat, etc.). Choose a merchant with a high completion rate, good reviews, and that supports your commonly used payment methods.
Once you have established your buying plan, confirm the purchase order and choose to pay via WeChat, Alipay, or bank card.
Payment
Make the payment promptly 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 payment, the order will timeout and be canceled, so remember to contact customer service for assistance.
Verify the order and complete it
Once the seller receives your payment, they will release the USDT to your Binance account within a short time (usually within a few minutes). You can receive notifications in the app or check the progress in "Orders."
Once the seller releases the coins, the USDT you purchased will immediately arrive in your Binance "Funds Account" - "Spot Account."
The USDT has arrived in your spot account. Now you can participate in:
Holding USDT: As a stable asset to save, 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 purchase in the trading pairs, 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 "Yubi Treasure" for flexible 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 funds account used for deposits and withdrawals. That is, we need to transfer it back. Click "Transfer," select USDT, all, and 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" again, select "Show only Shield advertisers," and enter the amount I want to sell, for example, 1000.
We find a merchant 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, problems may occasionally arise, such as the seller not releasing coins after payment or the buyer claiming non-payment 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 "Dispute" button on the order page. Binance's official customer service will intervene to handle it.
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Provide complete evidence: As a buyer, you need to provide clear screenshots of successful bank or payment platform transfers, including order number, amount, time, and recipient information. As a seller, you need to provide screenshots of bank statements 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 to ensure every reader can become 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 a bound phone and Google Authenticator for two-factor authentication to ensure account security.
Transaction Fees
Binance C2C trading typically 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 check real-time exchange rates before trading to avoid losses due to rate changes.
By following the above steps, you can smoothly 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!