What is USDT?

USDT is a token running on the Ethereum blockchain that is pegged to the value of a U.S. dollar (this means that 1 USDT shall always be worth 1 US dollar). As a result, USDT is a so-called stablecoin (it does almost not change in price). USDT is also known as Tether or Tether USD. Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation.

USDT is also running on a number of other blockchains than Ethereum. Be aware that you should always send USDT within the respective blockchain you are running at. For example, you cannot send USDT running on Ethereum (ERC-20) to USDT on the BNB Chain (BEP-20).

The USDT stablecoin is the preferred cryptocoin used for trading XEP. The majority of exchanges supporting XEP, offer USDT/XEP as a trading pair. In order to buy XEP using USDT, you have to have enough USDT coins available in your exchange trading account.

One way to send USDT to a centralized exchange trading XEP is to send USDT from your wallet (ie Trust Wallet, Atomic Wallet, etc) or exchange account (Kucoin, Binance, Gate.io, etc). To do so, select USDT > withdraw and enter your USDT deposit address from your XEP trading exchange (such as Bittrex Global or Hotbit; select “deposit” > “USDT” and copy your USDT deposit address). After sending your USDT it will take some minutes in order for your deposit to be processed. The negative aspect of sending coins via USDT is its transaction fees: You usually pay around 15 US dollars per transaction. In order to avoid these fees, experienced users fund their crypto exchange accounts with an alternate cryptocurrency, such as XRP (Ripple) or LTC (Litecoin).

The USDT stablecoin is the preferred cryptocoin used for trading XEP. The majority of exchanges supporting XEP, offer USDT/XEP as a trading pair. In order to buy XEP using USDT, you have to have enough USDT coins available in your exchange trading account.

One way to send USDT to a centralized exchange trading XEP is to send USDT from your wallet (ie Trust Wallet, Atomic Wallet, etc) or exchange account (Kucoin, Binance, Gate.io, etc). To do so, select USDT > withdraw and enter your USDT deposit address from your XEP trading exchange (such as Bittrex Global or Hotbit; select “deposit” > “USDT” and copy your USDT deposit address). After sending your USDT it will take some minutes in order for your deposit to be processed. The negative aspect of sending coins via USDT is its transaction fees: You usually pay around 15 US dollars per transaction. In order to avoid these fees, experienced users fund their crypto exchange accounts with an alternate cryptocurrency, such as XRP (Ripple) or LTC (Litecoin).