Trading Essentials
The Benefits of Using USDT in the FXCE Ecosystem
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7 min read
14/07/2023
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According to data from Coinmarketcap, USDT is the stablecoin with the biggest market share and is thought to have the Crypto market's largest market value with more than 83 billion USD. There are a number of rival stablecoins on the market, such as USDC, BUSD, DAI, etc. 

So what are the benefits of using USDT in the FXCE ecosystem? Why use Crypto Payment at FXCE? Let's find out together!

Benefits of Using USDT At FXCE

Similar to moving USDT cash flow back and forth between ecosystems through CEX or Bridge. Using the USDT gateway at FXCE provides instant payment, saves users from the price fluctuations of the cryptocurrency market, and is audited by a regulated audit firm, making it a transparent stablecoin.

Not only that, Tether offers more liquidity than any other digital asset. Being pegged to the US dollar means it is quite stable in value, which is why it is so commonly used for trading. Almost every other cryptocurrency experiences great price fluctuations. Conversely, Tether shows low volatility, making it an ideal choice for investors who wish to have a stable and secure portfolio.

Transaction Speed

One of the main advantages of USDT is transaction speed. Usually, users have to wait a long time to send and receive USD because of institutions like banks. And, their complicated procedures slow down the transaction processing. However, USDT allows for instant clearing and settlement. 

Transaction Fee

In addition to the outstanding transaction speed, you can transfer your USDT funds anywhere without spending too much on transaction fees. Especially, if you use the TRC-20 network (Tron Blockchain) and transfer funds to the FXCE Ecosystem , you will have almost no fees and instant credit. 

Furthermore, your withdrawals will also not cost you any money at FXCE. 

Cross-border

By using the USDT crypto wallet, you can quickly make payments or transfer money across borders. You can transfer money to any trading/investing platform and earn from those platforms. Similarly, you can earn passive income by joining “CopyTrade” or “Invest” on the Social Trading Platform at FXCE. 

Find out Top 5 Social Trading Platform In 2023

Why Use Crypto To Deposit FXCE

FXCE allows Crypto as a payment method, most of the cases accept USDT as the basis for easy deposit and easy transparency to use. So traders instead use any other popular payment method like Credit Card or Bank Transfer. You can absolutely deposit and then withdraw to your trading account with your Crypto or your Crypto Wallet.

Cryptocurrency deposit at FXCE is a directly integrated method. All you have to do is check the information, and wallet address and proceed to deposit, the amount after depositing will be credited quickly.
When talking about Using Crypto Gate at FXCE, you will find the following advantages:

  • Using USDT in FXCE is considered a fast money transfer solution.
  • Safe and stable decentralized system.
  • Trade with 24/7 availability
  • Using USDT is considered the safest because the value is pegged 1:1 with fiat USD
  • Currently, Bitcoin and Ethereum, USDT are known as the most popular Cryptocurrencies accepted by Brokers, not just FXCE.

USDT Liquidity

Similar to other stablecoins, USDT is mostly used for saving, trading and exchanging/ swap among other coins in the market. Tether issues several other stablecoins backed by different assets:

  • Tether Gold (AUXT) is pegged to the price of gold.
  • Tether Euro (EURT) is pegged to the euro.
  • Tether GBP (MXNT) is pegged to the U.K. pound.
  • Tether Yuan (CNHT) is pegged to the Chinese yuan.

More specifically, Tether created USDT with the aim of overcoming the payment problem of current currencies (both crypto-currencies and fiat currencies), specifically:

  • Fiat currency: All user information in the transaction process must be public, especially when transacting between countries, the transaction speed will be slow and incur many additional fees such as: currency conversion fee, difference fee, sending fee,...

  • Other Cryptocurrencies - Crypto: Not stable, price can fluctuate with magnitude depending on market situation and Bitcoin price, high transaction fees.

USDT perfectly solves those problems by: 

  • Anchor your value with USD at a 1:1 ratio ⇒ Ensure stability. When you own USDT, you can cashout directly to the domestic currency at any time.

  • Developed based on Blockchain technology ⇒ Money transfer between countries becomes easier, saves costs as well as ensures user security.

In addition, as a result of its stable nature, in times of market crisis, when Bitcoin and other Altcoin movements are affected and fluctuated strongly; then the USDT reserve and expansion of investment/copy signal strategies at FXCE Social Trading is considered a safe haven. The purpose is to secure and increase users' assets, avoiding losses and "hibernating '' cash flows. 

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Invest/Copy Signals at FXCE Social Trading Platform

How to deposit via USDT

Step 1: Log in to your account

Go to www.fxce.com and log in to your account.

Click on your username and select [Wallet].

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Step 2: Get the wallet address

Go to [Wallet], select [Deposit]. Click [Deposit] via USDT.

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The screen displays, click [Copy] your USDT wallet address via TRC20 network, or capture QR code.

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***Reminder:

1. USDT address only accepts USDT deposit, any other assets deposited to USDT address will be lost and not be recovered.

2. It might still take some time for that particular transaction to be confirmed and even longer for the funds to be finally credited into the USDT wallet on FXCE. The amount of required “network confirmations'' varies for different blockchains.

3. The system only credits money transferred by network transfer, not accepting other types of transactions such as Smart Contract or Swap.

Step 3: Transfer money to wallet 

If you already have an FXCE wallet like Binance, Trust, Huobi... Open your app, go to Withdrawal, select USDT via TRC20 network and paste the copied wallet address from FXCE. Finally, confirm the withdrawal. This means that you are transferring money from your USDT wallet to the wallet on your FXCE.

In case you do not have a USDT wallet, you can deposit through a Third-party (USDT Buy/Sell Exchange Agent).

Step 4: Check transaction status

To check the transaction status, go to [Wallet] - [History]. If USDT has entered the wallet, the transaction status will be "Completed".

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Money will be displayed on the USDT wallet very soon.

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***Reminder:

  • Depositing via USDT is no fee.

  • If the transaction has been confirmed by all the blockchain network nodes but is not credited to the FXCE account, please refer to the attached instructions here.

What is USDT?

USDT (Tether USD) is a cryptocurrency launched in 2014. Its value reflects the value of the US dollar (USD). The idea behind Tether is to create a stable cryptocurrency that can be used as a digital dollar or “stablecoin”. 

usdt

Unlike other cryptocurrencies, USDT cannot be arbitrarily minted but must be backed by assets of equivalent value. USDT is available as ERC-20, the most widely used standard for Blockchain Applications. This makes it interoperable with all decentralized applications (DApps) and any ecosystem it supports.

However, it's not just limited to the Ethereum network. Instead, Tether USD is compatible with other key blockchain networks, including Solana, Avalanche, TRON, Algorand, BNB Chain, and more.

Since its introduction, USDT (Tether USD) has established itself as an important component of the stablecoin market with its ample liquidity and the ability to trade on centralized and decentralized exchanges on the internet - Around the world.

About Tether

Tether was founded by a group of Bitcoin enthusiasts and early adopters, passionate about facilitating the use of fiat currencies in a digital manner. In 2014, the company launched Tether.to, a blockchain-enabled platform aimed at disrupting the conventional financial system with a more modern approach to money.

Tether is led and managed by a senior management team with extensive experience in financial services, technology, and compliance. Drawing on the expertise of a diverse and dynamic team spread across the globe, Tether tokens have grown from being the first to the largest stablecoin by volume today.

Summary

The above article has summarized the basic information about what USDT is for investors. USDT is the most popular coin to transfer money across platforms/ecosystems quickly and transparently. 

If you are still wondering what capital to use to invest and trade in FXCE Ecosystem, USDT will always be the perfect choice. 

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