Connect and share knowledge within a single location that is structured and easy to search. Desktop. What is USDT on Binance? ), I'd be extremely interested. Pair: BINANCE:OCEANUSDT == SPOT== ⏰ 1400/01/26 ⏰ 15/04/2021 Duration: SHORT - MID Ex: Binance #145 Buy :1.69 - 1.74 Sell Targets TP1: 1.94 TP2: hidden TP3: hidden TP4: hidden TP5: hidden ️ ⛔️ SL: 1.53 By closing 4 hrs. Trade. It is similar to your regular bank savings account. Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. We use cookies to optimize site functionality and enhance your user experience. So what’s the main difference between the two? These cookies do not store any personal information. But opting out of some of these cookies may have an effect on your browsing experience. They say my case had been escalated to Security and ask me to kindly wait for roughly 12hrs, my case is once again being "review" just like the last time a month ago. The site has a fairly user-friendly interface, and exchange commission is only 0.5%. Movie about tiny Leaf- and Stone-people and a human girl who gets shrunk down to their size and must save the kingdom. So, when the time is set, the TF BTC or TF USDT will become whole BTC or USDT with no need for any centralized settlement. 2. I could always liquidate it, it's a real dilemma as I am hoping to grow my USDT capital until it hits critical mass to increase my trade efficiency (and then I'll slowly liquidate a little at a time) but I need time to get there. Dual license (GPL: my contribution, MIT: others' contribution) in an open source project? A quick google search on the topic will give you a wide range of articles why they're so controversial. To open a Binance account with a 20% fee discount, click this link or visit our guide on how to open a Binance account. By using our website, you agree to the use of cookies. Powerful crypto trading platform for those who mean business. However, the “Stable coin” is a cryptocurrency that has a stable value. USDT TOKENS is a stablecoin, a cryptocurrency designed to maintain a stable market price relative to assets to which it is pegged. Another feature of using USDT is that developers apply the Proof-of-Solvency alternative using the Proof-of-Reserves method. 14hrs later I … According to the developers themselves, coin holders shouldn’t completely associate coins with dollars. To explain in simple terms, here's an example: a) You have an initial capital of 1000 USDT, that you decide to move to your margin wallet. Is it reasonable to ask to work from home when I feel unsafe due to the risk of catching COVID on my commute and at my work? Why does Binance use USDT instead of USD? What is USDT in cryptocurrency? Institutions. Your email address will not be published. Find the latest Tether USD (USDT-USD) price quote, history, news and other vital information to help you with your cryptocurrency trading and investing. binance seems to have BTC-EUR but no BTC-USD. In this short video i explained how you can convert your BTC to USDT trading on the Binance platform. In this case, when registering, a user receives not only a wallet itself, but also access to the exchange. It’s simply the ‘base currency’ of your account. This exchange is the largest in terms of exchanging cryptocurrencies. Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Binance does charge a 0.1% fee for trading on the platform, meaning that your price will depend on the amount of the trade you make. Careers. Who does Irenaeus call "a certain person among the ancients"? The exchange has already issued a British pound-backed stablecoin to work on its decentralized exchange , Binance … Visit the Blog. It makes sense to me that they don't offer a USD trading pair, as binance does not have access to the US banking system, much less so to the or a federal reserve account. The purpose of USDT (and other stable coins)? The developers of the coin have repeatedly admitted that the Tether coin isn’t fully backed up. To subscribe to this RSS feed, copy and paste this URL into your RSS reader. UPDATE: Account Verifications (02-02) Join the Community (02-02) Get the Binance.US App (02-02) COMP / USDT. Now you have 30,000 USDT to trade, meaning you could make more profit as you trade higher volumes. What is USDT crypto? There are a number of stable coins in circulation nowadays with several attempts to be stable. Here is the reservation process. And among stablecoins stands Tether (or USDT), both loved and dreaded, still bigger than any other stablecoin. What is Tether coin? — Binance Research (@BinanceResearch) June 15, 2019. We'll see trading opportunity on #UNI and #Bitcoin and other futures pairs on binance right now!! In order to buy Tether (USDT) on Binance, you first need to open an account. Since the USDT is pegged to the dollar, this cryptocurrency will receive increased attention from government authorities; In the event that the dollar is subjected to inflationary processes, the value and reliability of the USDT will also be compromised. On Binance Futures, traders can trade with leverage between 1-125x on our crypto perpetual contracts (20x by default). Such news could cost a packet, since it was originally stated that the stablecoin would definitely be supported by dollars in a 1:1 ratio. Surely every user who has already dealt with cryptocurrencies has come across USDT. Binance also lists a huge selection of other cryptocurrencies, so you can easily convert your USDT to another coin later. Tether has been around for a while, with the first USDT “minted” in 2014. Binance Savings Service; Binance offers Binance Savings, a service to provide Users with value-added services for their idle Digital Assets. Choose from a wide suite of crypto saving options. The dollar sum, which is an analog of the purchased coins, is confirmed by bank accounts. Last Price — 24h Change — 24h High — 24h Low — 24h Volume — groups. Trade. Anyway, to answer your question, yes, USDT is probably the closest to representing the value of an actual dollar, but, as i said, it is NOT an actual dollar, and you should be really careful using them, or preferably; not use them at all. The Binance crypto trading experience, tailor … The strange transactions were mentioned on the Internet with a movement of 300 million USDT. Is this the closest one to trading BTC-US dollar? Binance as a trading platform is home to the largest amount of daily volume and liquidity in this industry. What is USDT cryptocurrency? How does it actually work? Before thinking you can use USDT as a safe haven, you should note that more often than not, these "stablecoins" are not backed 1:1, or at least not proven to be, and that while they might be stable as of right now, that that is not a guarantee for the future. The same company ensures the safety of funds in dollars as long as their own cryptocurrency is used and mined on the Internet. In order to store USDT, you need a wallet. USDT is a cryptocurrency asset implying a digital deposit of a US dollar. Before choosing one of them, you need to decide on purpose of purchasing the cryptocurrency. The requested USDT sum is verified on Block Explorer using special tools. rev 2021.5.19.39341. Binance US. The best answers are voted up and rise to the top, Bitcoin Stack Exchange works best with JavaScript enabled, Start here for a quick overview of the site, Detailed answers to any questions you might have, Discuss the workings and policies of this site, Learn more about Stack Overflow the company, Learn more about hiring developers or posting ads with us. So other exchanges (e.g. All tokens are designed for 3x leverage, meaning they give 3 times the results of BTC or ETH. Command not found in zsh, but found in bash. Tether tokens are backed 1:1 by the dollars that customers or … Save my name, email, and website in this browser for the next time I comment. Comment deleted by user 12 months ago 0 children. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. According to technical documentation, the Tether cryptocurrency has the following features: What is Tether USD? So far so good. Why is binance so different? However, other recent activity from Binance could point to continued opportunities to profit off of China’s USDT premium and the apparent high liquidity in USDT/CNY markets. bitcoin.stackexchange.com/questions/95483/…, Podcast 339: Where design meets development at Stack Overflow, Using Kubernetes to rethink your system architecture and ease technical debt, Testing three-vote close and reopen on 13 network sites, The future of Community Promotion, Open Source, and Hot Network Questions Ads. It is mandatory to procure user consent prior to running these cookies on your website. Bitfinex) have had BTC-USD for ages. https://blog.switchere.com/what-is-usdt-crypto-what-should-you-know There are two choices with our ProfitFarmers signals, Bitcoin or USDT linked pairs. How they are able to represent the euro in the first place within their exchange/framework, i don't know. We can see that Binance and Huobi hold the most USDT by a large margin. Asking for help, clarification, or responding to other answers. If you believe Bitcoin price will increase, you may decide to sell the full 30,000 USDT for 3 BTC at a price of 1 BTC per 10,000 USDT. That would mean they would have an account at a EU bank and subsequently at a NCB within the eurozone, which i highly doubt given they operate with and within "anonymous" accounts. There is one key difference between this service and the Tether wallet. Let’s try to find out! Whales are known for being market movers by being able to unload or pump large amounts of tokens and overwhelm order books. (I highly doubt this would be allowed by the ECB and subsequently their commercial bank), If anyone could shed some more light on this and how this would actually work (I fear I might be wrong here. Binance’s OTC platform caused an uncomfortable brush-up with Alipay. Resources. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Friend's ethical dilemma and fear of retaliation, xDB Xconnect.Contact returning null value. Help us to build more opportunities for financial freedom in … Get the latest news and updates or level up your trading skills. Finding yourself confused about what to trade? Each stable coin has a unique mechanism. 12 months ago. And how to buy it? How to identify if a photon comes from the sun? Binance US. USDT in particular lacks audits. We also use third-party cookies that help us analyze and understand how you use this website. By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy. There are no fees when depositing crypto assets on Binance with Bitcoin (BTC), Tether (USDT) and Ethereum (ETH). Therefore, the number of cryptocurrency units issued corresponds to dollar reserve held by Tether Limited. This means that Binance will hold this capital as collateral for you to gamble... eh, I meant invest. At present, the rate of the cryptocurrency can fluctuate by no more than 2-3%; Each stablecoin in its face value is equal to a unit of a particular currency. Basically, you can margin trade your capital with x3, x5, or x10 multiplier. Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Resources. Binance - stop with these paid, spammy posts, I thought you were better than this. Refer. Trading Fees. QGIS identify tool not working on selected layer. Binance.US Blog. USDT is instantly issued as soon as a user transfers the dollar equivalent to the company’s account; As soon as the sum is withdrawn to a user’s account, the coins are canceled; USDT is a cryptocurrency that can be stored and used in the same way as Bitcoin, Litecoin, or any other cryptocurrencies that function according to the same rules; Users have a right to store purchased or mined coins in wallets that have Omni Layer support. It only takes a minute to sign up. What does USDT stand for? Is it bad not to answer the "Tell me how you behaved in a situation of conflict with your previous supervisor" question in a PhD interview? UPDATE #1: Thanks to your upvotes, yesterday I was contacted by a Binance rep via live chat. I just need the value of BTC in US Dollar for a presentation. The USDT shortage on Binance comes at a time when Bitcoin (BTC) and the cryptocurrency market at large has seen explosive gains. How sound is the doctrine in Dante's Inferno? You will first need to exchange your fiat for crypto and then make your deposit. What is Tether (USDT TOKENS)? Thanks for contributing an answer to Bitcoin Stack Exchange! After USDT, USD Coin (USDC) is the largest stablecoin by market cap. Share. It has a great reputation amongst traders of all shapes and sizes – which is why it is often the go-to platform to buy and sell digital assets. How to get BTC and ETH prices from Binance in Google Sheets? Coin holders can use not only the dollar equivalent. Do you think using data for BTC-USDT (and in fact *-USDT) would be a good approximation to the exchange rate against the US dollar? The license agreement mentions that this cryptocurrency isn’t fiat money in its electronic form. Tether (USDT) is a stablecoin, a type of cryptocurrency which aims to keep cryptocurrency valuations stable. Explore the Community. What is USDT coin? If necessary, it’s possible to choose the euro or any other world currency. site design / logo © 2021 Stack Exchange Inc; user contributions licensed under cc by-sa. Did the Super Game Boy (1) run 2.5% or 4% faster than a Game Boy? Liability if someone is hurt on my property, Coloring positive integers 'black or white', Simulating an unbiased coin with a biased one. This is the third reddit post I have seen in the last hour talking about why BUSD is better than USDT. Most Effective Ancient Weapons System if Combined Arms isn't an option. I am not involved in trading cryptocurrencies so would not hold USDT. Report Save. Available in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and more. My returns mean shit if USDT belly flops. The maximum amount of leverage available for users depends on the notional value of their position. USDC vs USDT. Download the Binance mobile crypto trading app today. A special feature of the Tether cryptocurrency is that each coin is backed by a US dollar. Binance US. In the process of creating the coin, the Omni Layer protocol was used. Anyway, to answer your question, yes, USDT is probably the closest to representing the value of an actual dollar, but, as i said, it is NOT an actual dollar, and you should be really careful using them, or preferably; not use them at all. Binance currently supports the most widely accepted stablecoins and is also one of the biggest holders of Tether (USDT), the most widely used dollar-pegged coin. Therefore, a post has just appeared on Whale Alert’s Twitter account which stated that cryptocurrency exchange Binance has transferred 300 million USDT to Tether Treasury on the Bitcoin blockchain. Making statements based on opinion; back them up with references or personal experience. You can create it on Binance which is suitable for long-term storage. For example, a 1 percent increase in BTC’s price would mean BULL, the BTC leveraged token, will increase by 3 percent. 1. What is USDT? Binance is one of the most widely used cryptocurrency exchanges in the world. level 1. Necessary cookies are absolutely essential for the website to function properly. One of these transactions can be exchanging between BTC/TF BTC and USDT/TF USDT, meaning you can at any time exchange the TF BTC or TF USDT for full BTC at a given rate. Why does the AU defer to Somalia on the question of Somaliland's suzerainty? These cookies will be stored in your browser only with your consent. level 2. Refer. You also have the option to opt-out of these cookies. The company’s cash reserves are enough to cover only 74% of the total cryptocurrency issued. All the power of Binance's cryptocurrency exchange, in the palm of your hand. Community. USDC is governed by Centre, a membership-based consortium, of which Circle and Coinbase are founding members. This means you’ll be able to borrow 20 000 USDT from the exchange in addition to your 10,000 USDT. Well, this coin has its own peculiarities in application, which you should know about before purchasing this cryptocurrency. How Many Block Confirmations Ethereum Needs 2021, Top 5 Best Cryptocurrencies to Invest in 2021, Shiba Inu Memecoin: SHIB Price Increases 2021. Institutions. The company periodically conducts an audit of funds so that users can independently verify the safety and reliability of their investments. This category only includes cookies that ensures basic functionalities and security features of the website. Just share your knowledge in the comments! Tether (USDT TOKENS) is a cryptocurrency issued on the Bitcoin blockchain. To learn more, see our tips on writing great answers. There are many ways to buy Tether on the market. A “whale” address is considered a non-exchange address that holds enough tokens to be within the top 40 addresses. By clicking “Accept all cookies”, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy. What other interesting facts do you know? UPDATE: Account Verifications (02-02) Join the Community (02-02) Get the Binance.US App (02-02) UNI / USDT. Would an underground species of humanoids need a large landmass to make their cities or could they get by with having mostly islands? I can see BTC-USDT. Where Are the Whales? Buy Crypto. Bitcoin is currently up 2.28% on the daily, trading at $10,326 after a major leg up yesterday from $9,800. Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. This website uses cookies to improve your experience while you navigate through the website. Binance US. USDT is a blockchain-based Stable Coin that is used for trading for $1 USD. What does 5x mean in Binance? Join other Binancians for discussions in our community. Buy Crypto. Register on Binance. Binance is the best place to buy, sell, trade, and hold USDT TOKENS easily.