What is included in USDT (the use case of USDT)
What is included in USDT. According to CoinDesk, USDT includes various features
What is included in USDT. According to CoinDesk, USDT includes various features. The value of USDT is usually pegged to the US dollar and is supported by fiat currency (usually stablecoins). In order to make the payment system more efficient, effective, and provide a secure and transparent way of conducting transactions without compromising security, the platform offers a range of interoperable solutions with traditional banking systems, such as automatic market maker agreements, collateral management tools, and cryptocurrency custody services. Through this method, funds can be transferred to a separate wallet, avoiding third-party institutions or agents from accessing the source of funds using the deposits in the account.
Use case of USDT
USDT is the native stablecoin of Bitcoin, pegged to the US dollar at a 1:1 ratio. According to official Bitfinex news, USDT is already circulating in global financial markets, with a current circulation of over 1 billion coins, accounting for nearly 40% of the entire cryptocurrency market value. According to statistics, the current trading volume of USDT is approximately 300 million US dollars.
As a legal fiat currency, USDT is issued and managed by central banks. Generally, it represents a means of cash equivalent or value storage, and can also be understood as a category of assets. The main use case of USDT is for liquidity in remittances, payment settlements, and other use cases (such as bill payment and loans), which means that when users make payments to a designated account, the system will automatically send it to the recipient in exchange for the corresponding digital tokens.
The function of USDT is similar to gold or paper money. Its functionality mainly focuses on redemption of deposits and depositing into checking accounts, and then using them in the process of transfer. For example, when you need to purchase some goods, you can convert USDT into Chinese yuan or other wallets supported by different countries.
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Overview
On April 30th, according to the latest research by Trust Machines, a Bitcoin ecosystem company, in the first quarter of 2023, \”Bitcoin use cases experienced explosive growth.
Trust