What is USDT?
USDT (Tether) is a stablecoin designed to hold the value of fiat currencies such as the US Dollar digitally in the blockchain, so that the price of USDT is usually equivalent to the US Dollar, i.e., 1 USDT is approximately equal to 1 US Dollar. This stability is particularly important for cryptocurrency investors, as most crypto assets are volatile and USDT provides a stable value benchmark for hedging purposes. For newcomers to the cryptocurrency market, USDT offers an asset alternative to the high volatility of the market, and is particularly popular among investors in Taiwan.
USDT also supports a variety of blockchains such as Ethereum, Tron and Solana, offering transfers on different chains for greater flexibility, and Tether publishes regular asset reserve reports for added transparency.
Why choose USDT as your first step in investing?
- High stabilityThe value of USDT is relatively stable compared to BTC or other currencies, making it suitable for capital preservation.
- Strong liquidity: USDT is the most widely used stablecoin on exchanges and has a large trading volume.
- Convenient tradingMany platforms offer direct USDT purchases, which lowers the investment barrier.
How to buy USDT?
There are many ways to buy USDT in Taiwan, here are the two most common ways:
1. through exchange purchases
This is the most popular way to buy, especially for new investors. The steps are as follows:
- Select Exchange
Choose a reliable cryptocurrency exchange such as OKX, Binance or other reputable platforms. - Register and complete authentication
Log in to the exchange, register a new account and complete KYC verification as required by the platform. This is a necessary measure to ensure the safety of your funds. - Recharge fiat or cryptocurrency
Depending on the deposit method supported by the platform, transfers can be made using a Taiwan bank card, e-wallet or cryptocurrency. - Make a USDT Purchase
After completing the top-up, you can choose to buy USDT directly on the exchange.
2. Over-the-counter (OTC)
OTC trading is an over-the-counter (OTC) transaction, suitable for users who need to make large purchases, and this type of transaction is usually carried out directly in the OTC area on the platform. It is recommended to choose a reputable platform for OTC trading.
Common Payment Methods
Payment methods supported by different platforms may vary. Taiwan users can generally choose from the following:
- Credit card, bank card payment
- Bank Transfer
- Electronic payment methods (e.g. PayPal, Apple Pay)
USDT Trading Methods
After purchasing USDT, users can choose different trading methods according to their investment needs.
1. spot transactions
Spot trading means buying or selling USDT directly and is suitable for beginners or short-term investors. Spot trading is relatively low risk and is recommended for beginners.
2. Contractual transactions
Contract trading means using USDT as margin for leveraged trading, which allows users to leverage for greater gains, but it is also higher risk and not recommended for newbies.
3. DeFi application and USDT
USDT is widely used in DeFi and users can put USDT into the DeFi platform for borrowing or liquidity mining.
IV. Security of TEDA
USDT is issued by Tether, and its asset reserve reports add transparency, but some investors still have questions about whether its assets are fully covered. Therefore, for users with large holdings of USDT, it is advisable to pay attention to the reports published by Tether and allocate assets according to market movements.
How do I secure my USDT funds?
- Choose a reliable trading platform
Make sure you choose an exchange that has gained trust in the market, such as OKX, Binance, and so on. - Enable two-step validation (2FA)
Most trading platforms support 2FA, which can effectively improve account security. - Enable Address Whitelist
When withdrawing funds, only the authenticated wallet address is allowed to transfer funds, effectively avoiding the risk of account theft.
USDT Fraud Risks and Prevention
In the cryptocurrency market, the risk of fraud should not be ignored, and common USDT scams include:
Common USDT Scams
- High Return Fraud
Many unscrupulous people will use the banner of "high return" to attract users to deposit, often promising a monthly return of more than 10% or higher, this kind of program is usually a Ponzi scheme. - Fake Platform Fraud
Some of the fake platforms mimic well-known exchanges, and users may not be able to withdraw their funds once they top up on such platforms. - Phishing sites and fake customer service
Fraudulent use of phishing websites disguised as reputable exchanges or the use of fake customer services to obtain funds from users.
How to protect yourself from USDT fraud?
- Select Official Exchange Website
Find the official domain name of the platform or download the official app to avoid entering fake websites. - Don't believe in high returns
Be wary of investments that claim to be risk-free and offer high returns, and be aware of the investment risks. - Avoid logging into your account through unknown links
If you receive a suspicious email or text message, it is recommended that you go directly to the Exchange's website rather than clicking on a link to log in.
Conclusion: A Must-Have USDT Guide for Newbies
USDT is a highly stable digital asset, especially suitable for Taiwanese newcomers to the cryptocurrency market. Through this guide, you should have mastered the basics of USDT, how to buy it, how to trade it, and its security, as well as understanding the risks of fraud and precautions against it. The stability and liquidity of USDT provides a stable investment option for users in Taiwan. We hope this guide will help beginners to get started in the cryptocurrency field more easily and safely master the application and transaction of USDT.
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