Fund your crypto exchange account with USDT

The USDT stablecoin is the preferred cryptocoin used for trading XEP. The majority of exchanges supporting XEP offer USDT/XEP as a trading pair. You can also buy XEP using ETH, BTC, or other coins, but they are not topic of this article. In order to buy XEP using USDT, you have to have enough USDT coins available in your exchange trading account.

XEP exchanges - USDT/XEP - XEP/USDT - Tether - Electra Protocol

You can limit the exchanges which have XEP support by criteria, such as trading in USDT-XEP. Bigger exchanges will be added in the future.

Send fiat currency to an exchange

The preffered way to get USDT into the crypto exchange account of your choice is to deposit funds through bank wire transfer (recommended) or credit card. Usually the funding will be performed in US dollars, euros, or any other supported fiat money. Keep in mind that using credit cards is usually the fastest option, but usually involved significant credit card transaction costs. Funding through wire transfer takes longer, but is often free-of-charge. Once your fiat money arrives in your crypto exchange account, such as USD or EUR, you have to convert it to USDT (when you want to buy XEP using USDT). To do so, use the trading pair “USD/USDT” in order to acquire USDT which are necessary to purchase XEP coins.

Some crypto exchanges, such as Hotbit, have limited or no fiat currency funding support. When using such an exchange it is recommended to fund your exchange account with cryptocurrency instead, such as USDT.

Crypto exchange funding using USDT

You can also send USDT from a 3rd party wallet (ie Trust Wallet, Atomic Wallet, etc) or from another cryptoexchange (Kucoin, Binance, Gate.io, etc) to the account which you have in a XEP exchange. To do so, select “USDT” > “withdraw” from the sending account and enter your USDT deposit address from your XEP exchange (such as Bittrex Global or Hotbit; select “deposit” > “USDT” and copy your USDT deposit address). Make sure you send USDT coins only on blockchains that are supported on both ends (ie ERC-20). This means you cannot send, for example, ERC-20 USDT (Ethereum) to BEP-20 USDT (BNB Chain).

After sending your USDT coins to your own XEP exchange account, it will take some minutes in order for your deposit to be processed. The negative aspect of sending coins via USDT are transaction fees: You usually pay around 15 US dollars per transaction. In order to avoid high fees, experienced users fund their crypto exchange accounts with an alternate cryptocurrency, such as LTC (Litecoin) or XRP (Ripple).

Crypto exchange funding using LTC or XRP

Many experienced traders use an old-fashioned, but comparably accordable, cryptocurrency for funding their account in a XEP exchange. Instead of funding their account using fiat money or USDT, they use Litecoin (LTC) or Ripple (XRP) which they buy on any 3rd party exchange. The benefit for  sending ie LTC is that the transaction costs are just a fraction compared to USDT.

After you bought ie LTC on the 3rd party exchange (such as Binance, Coinbase, Kraken), select “withdraw” > “LTC” and enter the deposit address of your LTC account from the XEP exchange of your choice. After a few minutes your LTC coins will be deposited in your XEP exchange. Now use the LTC-USDT trading pair and convert your LTC coins into USDT.

Now you are able to finally buy XEP coins using the USDT-XEP trading pair on Bittrex Global, Hotbit, or any other supported exchange.