Understanding USDT (Tether)
USDT is a stablecoin pegged 1:1 to the US dollar, issued by Tether Limited. Key characteristics:
- Price stability through dollar reserves
- "T" in USDT stands for Tether (the issuing company)
- Tradable on major cryptocurrency exchanges
Unlike purchasing directly from Tether's official platform (which requires minimum $100,000 transactions), retail investors can acquire USDT through authorized exchanges.
Getting Started with OKX Exchange
Account Registration Process
- Visit OKX official platform
- Click [Register] in top-right corner
- Select "China" as residence country
- Complete email verification
- Important: Use invitation code 41322075 for permanent 20% fee reduction
Key Exchange Functions:
- Fiat-to-crypto purchases (RMB to USDT)
- Crypto-to-fiat conversions
- Digital asset trading pairs
- Yield-earning opportunities
Step-by-Step USDT Transactions
1. Buying USDT via C2C Marketplace
👉 Secure your first USDT purchase
- Navigate to [Buy Crypto] > [C2C Trading]
- Select USDT as purchase currency
- Set desired amount (e.g. 500 RMB)
- Choose payment method (Alipay/WeChat Pay/Bank Transfer)
- Filter for high-volume merchants (99%+ rating recommended)
- Complete payment and confirm receipt
Transaction Tips:
- Verify merchant's average payment time (<3 minutes)
- Never accept payments from non-KYC verified accounts
- Double-check fund receipt before releasing USDT
2. Trading USDT for Other Cryptocurrencies
- Transfer USDT to trading account via [Asset Management]
- Select [Spot Trading] and choose trading pair (e.g. BTC/USDT)
Order types:
- Limit Order: Set target price (no fee if unfilled)
- Market Order: Instant execution at current price
3. Converting Crypto Back to USDT
- Same process as buying, executed in reverse
- Transfer proceeds to funding account before fiat withdrawal
Earning Passive Income with USDT
Simple Earn Features
- Annual Percentage Yield (APY): Up to 10% for initial 1,000 USDT
- No lock-up periods
- Automated interest calculations
On-Chain Staking
- Higher yields (3.96%-4.7% APY)
- No gas fees on OKX platform
- Flexible redemption options
Security Best Practices
- Enable two-factor authentication
- Use whitelisted withdrawal addresses
- Regularly update account passwords
- Verify all transaction details before confirmation
FAQ Section
Q: Is USDT legal in China?
A: While cryptocurrency trading isn't officially sanctioned, holding USDT itself isn't illegal. Users should comply with all foreign exchange regulations.
Q: How long do USDT transfers take?
A: Tether transactions typically confirm within 2-5 minutes on the blockchain, though exchange processing times may vary.
Q: What's the minimum USDT purchase amount?
A: Most C2C platforms allow purchases as small as 50 RMB equivalent, with no upper limit.
Q: Can I lose money holding USDT?
A: While designed to maintain 1:1 dollar parity, temporary price fluctuations of ±0.5% can occur during extreme market volatility.
Q: How are earnings taxed?
A: Tax treatment varies by jurisdiction. Consult local tax authorities for guidance on cryptocurrency income reporting.