Cryptocurrency
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Understanding Cryptocurrency
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Binance Operation Procedure
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Remitano Operation Procedure
What is Cryptocurrency?
- Cryptocurrency does not exist in physical form, operates through blockchain technology, and uses cryptography to protect transaction records.
- Similar to fiat currency, it can be traded on exchanges, based on the exchange rate of each currency, facilitating global transactions.
- Trades are conducted through exchanges, not issued by central banks or regulatory agencies, and not controlled by local governments/banks.
Convenience
Cryptocurrency can be managed on any computer connected to the network and anyone can buy, sell, or receive cryptocurrency regardless of where they are.
Security
Dealing with cryptocurrency requires a private key, which can be isolated and stored in any storage medium, and no one can retrieve this key except the user.
What is USDT?
USDT is a cryptocurrency based on the stable value of the US dollar (USD) issued by the company Tether, known as Tether USD (also known as USDT).
1 USDT = 1 US Dollar (1:1 ratio pegged to the US dollar), prices fluctuate with the US dollar.
Stability
Tether strictly adheres to the preparation of guaranteed funds, with each issuance of 1 USDT being backed by 1 dollar in a bank account.
Transparency
Tether's foreign reserves are publicly disclosed, regularly audited by professionals, and everything in circulation matches Tether's reserves.
Widespread Use
USDT is the most widely used stable cryptocurrency.