For newcomers in the cryptocurrency world, you will definitely hear the term USDT, which is quite common. For those holding USDT, you need to learn how to transfer and withdraw USDT, which are essential skills for entering the cryptocurrency space. Today, I will explain how to safely cash out USDT.
1. What is USDT?
USDT, also known as USD?, is a cryptocurrency pegged to the US dollar, meaning that 1 USDT = 1 US dollar in value. Because its price is linked to the US dollar and other fiat currencies, it is also referred to as a stablecoin, aimed at addressing the volatility of cryptocurrencies, unlike other mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) that are prone to price fluctuations. This makes it usable as a medium for transactions and a store of value, rather than as a speculative investment.
2. How to recharge USDT and transfer USDT?
Recharge:
First, you need to download a blockchain wallet. Once downloaded, you can create a wallet, and users with existing wallets can import their wallets using a mnemonic phrase.
Next, click on the downloaded wallet, click on recharge, select the corresponding recharge network, obtain the recharge address, and you can recharge.
Transfer:
If you want to withdraw USDT to your wallet or transfer it elsewhere, you can click on transfer or USDT withdrawal, select the corresponding withdrawal network, and obtain the withdrawal address. It is best to use the Trc20 network, as the transaction fees are lower on that network.
3. How to exchange USDT for Renminbi?
1. Exchange through a trading platform:
Currently, many digital currency trading platforms support the exchange of USDT for Renminbi (RMB). Users can choose reputable and high-volume trading platforms such as Huobi and Binance, register an account, and complete real-name authentication. Then, transfer USDT into the trading platform's wallet and perform the exchange operation on the platform. Depending on market conditions, you can choose to trade at market price or set a limit order. Generally, trading platforms will charge a certain fee, and you can check the specific rates on the official website of the platform.
2. Exchange through OTC trading:
In addition to trading platforms, some over-the-counter (OTC) trading platforms also provide USDT and Renminbi exchange services. In OTC trading, users can trade directly with other individuals or institutions holding USDT, negotiating prices and trading methods, and conducting the transactions through an OTC trading platform. In OTC trading, it is important to choose a reputable trading partner and ensure that the transaction process is safe and reliable.
3. Exchange through fiat exchanges:
Fiat exchanges are platforms that specifically provide services for exchanging digital currencies for legal tender. Users can choose compliant fiat exchanges such as OKCoin and Huobi, register an account, and complete real-name authentication. Then, transfer USDT into the fiat exchange's wallet and select the Renminbi exchange channel on the platform to operate.
