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1. Tutorial on purchasing fiat currency on Binance
Purchasing fiat currency (such as USDT) on the Binance platform is a relatively straightforward process, but it should be noted that due to changes in policies and regulations, the specific steps may vary depending on the region and platform policy. The following is a general purchase process based on current information:
Preparation Phase:
Make sure you have installed the Binance official app on your phone and created and logged in to your Binance account.
Prepare the fiat currency you want to top up (although buying USDT usually does not require direct top-up of fiat currency, but make sure your payment method (such as bank card, third-party payment, etc.) is ready).
Enter the purchase interface:
Open the Binance app and go to the “Trade” or “Markets” tab.
Type "USDT" in the search box and select the USDT pair you want to trade (such as USDT/BTC, USDT/USD, etc.).
Choose a purchase method:
Binance provides a variety of purchase methods, including fiat currency transactions, currency-to-currency transactions, etc. Since direct purchase of USDT usually does not involve fiat currency top-up, we take currency-to-currency transactions as an example here.
Select "Coin-to-Coin Trading", select USDT in the Buy column, and select other digital currencies or fiat-backed tokens (such as BTC, ETH, etc.) you hold in the Sell column.
Enter purchase quantity:
Enter the amount of USDT you wish to buy in the Buy column, or enter the amount of digital currency you wish to sell in the Sell column.
The system will automatically calculate and display the transaction details, including the expected amount of USDT to be obtained, transaction fees, etc.
Confirm the transaction:
Check the transaction information carefully and click "Confirm Transaction" after ensuring it is correct.
Complete the payment or confirmation operation according to the system prompts (for currency-to-currency transactions, this usually involves confirming the transaction password or performing other security verification).
View transaction results:
After the transaction is completed, you can view your USDT balance and transaction details in "Wallet" or "Transaction History".
Please note that the above steps are for reference only. The specific purchase process may vary due to Binance platform updates or regional policy differences. It is recommended to carefully read the Binance official guide or consult customer service for the latest information before actual operation.
2. Analysis of the legality of USDT
USDT itself is not illegal. National laws do not explicitly state that USDT is illegal, so USDT can be traded through legal channels. However, when using USDT for transactions, you need to comply with relevant laws and regulations and platform policies to avoid illegal activities.
Legal basis:
USDT is a stablecoin whose value is pegged to the U.S. dollar and aims to provide users with a relatively stable alternative to digital currencies.
At the legal level, the legality of USDT mainly depends on whether its issuance and circulation comply with local laws and regulations.
Precautions:
If an account receives funds from unknown sources (such as black money), it may be frozen or investigated by public security authorities.
Using USDT to engage in illegal activities and transactions (such as money laundering, fraud, etc.) is illegal and may result in criminal liability.
When conducting USDT transactions, you should choose compliant trading platforms and payment channels to ensure the authenticity and legality of the transactions.
The process of buying fiat currency (such as USDT) on Binance is relatively simple and direct, but you need to pay attention to complying with relevant laws and regulations and platform policies. At the same time, USDT itself is not illegal, but you need to ensure legal compliance during its use.