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Introduction to USDT
USDT (Tether) is currently the highest market cap stablecoin, launched by Tether and pegged to the US dollar (USD). 1 USDT is always equal to 1 dollar, and users can exchange USDT for dollars at a 1:1 ratio at any time. Tether promises that for every 1 USDT issued, there will be an equivalent of 1 dollar in its bank account as a reserve guarantee.
USDT is the preferred stablecoin for most users and has been issued on multiple public chains, including Ethereum, Tron, Solana, Omni, Avalanche, Near, EOS, and the Bitcoin sidechain Liquid.
On August 9, according to CoinMarketCap, the latest price of USDT today is 7.18, meaning 1 USDT is worth ¥7.18 in Chinese Yuan (CNY).
Characteristics of USDT
- Stability
Tether is the representative currency of stablecoins, with the main feature of relatively stable prices. Tether is equivalent to the US dollar, 1 USDT = 1 dollar, making it a good value-preserving token in the cryptocurrency market, aimed at ensuring price stability.
- Security
Tether is issued by the US company Tether and is based on a tested and secured Bitcoin blockchain network, ensuring the security, speed, and stability of the currency network. Additionally, Tether complies with KYC and AML guidelines, ensuring safety and minimizing the risk of theft.
- Widespread Use
In the cryptocurrency market, most transactions use USDT for trading. Since BTC or ETH cannot be directly exchanged for fiat currency on some platforms, leading to significant value fluctuations, Tether effectively avoids this issue. Currently, international platforms supporting USDT trading include: OKX, Poloniex, Bitfinex, Kraken, Binance, Huobi, and others.
- Transparency
Tether has a high degree of transparency, publishing foreign exchange reserves daily and undergoing professional audits to prove that the company adheres to the 1:1 reserve guarantee principle, ensuring that all circulating currency matches the reserves.
- Anonymity
As a type of cryptocurrency, USDT's payment channel is based on the underlying Ethereum protocol, providing decentralization and anonymity.
As the most 关注的 stablecoin, if you want to learn how to create a USDT account and start using USDT, this article will provide you with detailed and easy-to-understand guidance and steps to help you smoothly enter the world of digital currency.
Steps to register a USDT account:
Download the wallet application, recommended BOSS Wallet
Go to the BOSS Wallet official website (or app store) to download the version suitable for your device and complete the installation as prompted.
Create or import a wallet: Open the BOSS Wallet app, choose to create a new wallet or import an existing wallet. When creating a new wallet, be sure to back up the mnemonic phrase or private key to ensure asset security.
Add USDT to the wallet: After the wallet is created, click on the network at the top of the [homepage] and select the network where we need to add USDT (the image uses Binance Smart Chain as an example).
Deposit assets: If you need to exchange other cryptocurrencies for USDT, you first need to deposit these cryptocurrencies into your BOSS Wallet. Click on the corresponding cryptocurrency, select "Receive," get the receiving address, and then transfer the cryptocurrency to that address.
About BOSS Wallet
BOSS Wallet is a decentralized multi-chain wallet compatible with seed identities, allowing users to use any currency to replace gas fees for zero gas transfers across various public chains. It is suitable for storing, trading, sending, and receiving USDT.
Additionally, BOSS Wallet integrates hardware devices and software clients, aiming to provide users with a secure, convenient, and user-friendly digital asset management tool. Its core features include a built-in multi-chain wallet, instant exchange, DApp exploration, energy-saving, and DEX market data.
Through BOSS Wallet, users can easily access over 1,000 DApp protocols, becoming a true one-stop Web3 entry point. Whether you are a beginner or an experienced cryptocurrency enthusiast, BOSS Wallet can meet your needs, providing a secure, convenient, and feature-rich digital currency management experience.
Main features of BOSS Wallet:
Decentralized architecture: BOSS Wallet adopts a fully decentralized architecture, ensuring the security of user assets without control from any centralized entity. Its unique multi-chain integrated account derivation algorithm allows multiple addresses and private keys to be generated sequentially under each public chain from a single seed, enabling users to conveniently manage and recover assets.
Multi-chain Gas Pool: BOSS Wallet introduces the concept of a multi-chain Gas Pool, allowing users to perform zero gas fee transfers across multiple public chains, significantly lowering the usage threshold for new users. This feature not only enhances user experience but also saves transaction costs for users.
Advanced security guarantees: In terms of security, BOSS Wallet employs advanced encryption algorithms and multi-signature technology, providing a high level of security suitable for managing large assets. Additionally, through a multi-dimensional risk control model and pre-review mechanism, BOSS Wallet can monitor and protect user asset security in real-time, ensuring that every transaction occurs in a secure environment.