TRADER'S PICK
Tutorial: How to deposit USDT
October 17, 2024
The ability to deposit USDT has been one of the more popular additions to our services at RADEX MARKETS. Here’s how to get in on the action.
For those unfamiliar with such matters, USDT is what is known as a stablecoin. A stablecoin is a type of cryptocurrency that is tethered to the value of a fiat currency, in this case the US Dollar. Essentially, USDT is a synthetic version of the Dollar that can be transacted on a blockchain. This offers a unique blend of advantages, such as the ability to conduct cross-border payments very quickly, but without the problem of large price fluctuations.
Sending USDT is very straightforward, but there are a couple of factors to keep in mind when depositing it with RADEX MARKETS.
After navigating to the deposit page, the first hurdle that users are likely to encounter is the following:
What’s the difference? TRC20 and ERC20 refer to token standards within the Tron and Ethereum ecosystems respectively. USDT is not confined to one single blockchain, it is accessible via several different networks. At RADEX MARKETS, we offer users the option to deposit USDT with both the Tron and Ethereum networks. Clicking on TRC20 will provide a deposit address on the Tron blockchain, whereas clicking on ERC20 will provide a deposit address on the Ethereum blockchain. Simply make sure the deposit address matches the network you wish to use.
The next part is self-explanatory:
Choose the deposit account, enter the desired deposit amount, input the address you intend to send the transaction from and click “submit”.
Almost there. The client portal will now provide you with an exact deposit amount, as well as a specific deposit address. We promise the extra decimals aren’t there just to be annoying - they do in fact serve a purpose. The six digits after the decimal point act as an identifier that will help us process your transaction as quickly as possible.
This is where things can get a little tricky. When sending cryptocurrencies, there are transaction fees involved. Users must make sure these fees are accounted for when sending USDT. It is imperative that the amount received by RADEX MARKETS matches the amount given above.
The transaction fee will depend on a variety of factors, not least the platform used to send the funds. Some platforms may charge a flat fee, others may vary depending on network congestion. Unfortunately, this part falls outside of our remit and is the sole responsibility of the user. Failure to match the amounts will most likely result in a more laborious process that may require us to ask for more information about the deposit.
Once the deposit has been successfully completed, there is no need to hold onto the payment address. Subsequent deposits will usually provide an unrelated address for users to interact with.
READ MORE
#01
Spreads From 0
#02
350+ Products Available
#03
Up to 1:500 Leverage
#04
3 Base Currencies
#05
Your Own Account Manager
#06
Live Support 24/7
MARKET WATCH
RM NEWS ROOM
