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If you have a business and you want it to become more successful, we know how to help you with this. The solution is simple – just start accepting cryptocurrency using crypto gateway! But isn’t it risky? USDT payments are suitable for cautious recipients.
In this article, we will discuss the advantages and methods of accepting payments in USDT for your online business.
What is Tether?
So what does USDT mean? Tether (USDT) is a cryptocurrency pegged to the US dollar, which makes it a stablecoin. The developers promise that this currency will be fully backed by Tether reserves. iFinex is the owner of Tether.
It was launched in July 2014 under the name RealCoin, and in November 2014 – Tether. Initially, it was based on the Bitcoin blockchain, and now USDT supports the Omni, Liquid Bitcoin protocols, as well as Ethereum, TRON and many other blockchains.
Tether is still the third largest cryptocurrency after Bitcoin and Ethereum. It is also the largest stablecoin.
What is the USDT payment method and how does it work?
So, you have decided to accept USDT payments for your business. How to do it? Here is the algorithm described briefly: Create an account in the cryptocurrency payment gateway, Select the method of invoicing to the client, create a payment and send it to the client, Receive the payment to your wallet.
Why you should accept Tether payments
There are many advantages of accepting Tether payments, here are the main ones:
Price stability
The price of a currency is predictable because it is tied to a fiat currency. It is quite convenient to use, because it resembles conventional fiat payments, while remaining a cryptocurrency.
Moreover, the fees for transactions in cryptocurrency are often lower than when paying electronically with a credit card, so many businesses prefer to use USDT.
Transaction fees
Transaction fees are usually high on exchanges, but with Tether there is no commission if you transfer funds from one Tether wallet to another.
Transaction time
If the replenishment and withdrawal of USD takes from 1 to 4 working days, then with the traditional banking system it takes from 1 to 3 working days. When it comes to transactions with USDT, it takes a few minutes to implement them.
International payments
In some countries, the financial system is not sufficiently developed, and it is difficult to conduct an international transaction there.
Accepting USDT through a payment gateway is beneficial for companies that have customers all over the world and want to accept payments from other countries quickly and with a low commission.
Access to
Cryptocurrency simplifies payments for those who do not have convenient access to banking services.
Protection against volatility
With our auto-conversion function, you can convert incoming payments in any cryptocurrencies to USDT and thus protect them from volatility, since the currency is pegged to USD.
Is it safe to accept Tether?
You can easily withdraw and deposit your funds at any time. Since 2015, USDT has not been canceled for a long time.
Moreover, Tether regularly provides reports proving that stable coins are backed by physical currencies.
The world of cryptocurrencies is relatively unpredictable, and USDT is here to provide us with at least some security.
Now that we’ve discussed all aspects of Tether (USDT), it’s time to find out how you can integrate payments in this cryptocurrency into your business.
How to accept Tether payments?
Wellcoinex
- Register a Cryptocurrency Payment Gateway Account
- Choose a way to integrate the USDT payment method into your business. Do you have any options?
- Integration of the e-commerce plugin
Choose the one that suits your site, download it, then turn it on and configure the API credentials.
Payment by link
Create an invoice and share it with your customers. They will be able to pay for it by opening a link or scanning a QR code. There is also a static wallet – share it with your customers once and receive payments to your wallet.
API for enabling USDT payments
This is a great customizable solution for merchants. However, its implementation requires some technical knowledge. Get the API key and ask your programmer to integrate it.
Now you are ready to accept USDT using our payment gateway.
Start Accepting USDT for your Online Business
Buying cryptocurrencies is a great solution for your business. You will attract new customers and stand out from other businesses by adding a new USDT payment method. In addition, USDT guarantees you protection against volatility.
It is very easy to start accepting Tether using the Wellcoinex payment gateway, but if you have difficulties with integration, our team is always ready to help. Contact us in the form on the main page of the site.
FAQ
What is USDT?
USDT stands for Tether, which is a stable coin pegged to the US dollar. USDT is a cryptocurrency that seeks to maintain a stable value of $1 per token.
This means that the USDT price is designed to track the value of the US dollar and reduce volatility, which is often associated with other cryptocurrencies.
USDT is used to transfer value and make payments in the cryptocurrency ecosystem and is often used as a store of value or a means of exchange for other cryptocurrencies.
How to buy USDT?
USDT, or Tether, is a stablecoin pegged to the US dollar. You can buy USDT on various cryptocurrency exchanges such as Binance, Kraken or Bitfinex.
To buy USDT, you need to create an account on one of these exchanges, go through the verification procedure, and then deposit funds to your account.
After funds appear in your account, you can place an order to buy USDT at the current market price.
Then USDT will be credited to your exchange wallet, from where you can transfer them to a separate cryptocurrency wallet at your discretion.
How long does USDT take to transfer?
The time required to transfer USDT (Tether) from one wallet to another may vary depending on a number of factors, including network congestion, the amount transferred and the data processing speed on the exchange or wallet used.
On average, the transfer of USDT can take from a few minutes to several hours. However, to get more accurate information about the transfer time and commission fees, it is always better to check with the specific exchange or wallet that you use.
What is USDT payment?
USDT (Tether) is a stablecoin pegged to the US dollar, that is, its value is pegged to the value of the US dollar. USDT payments mean the transfer of USDT from one individual or legal entity to another through a blockchain-based payment system.
USDT payments can be used for various purposes, such as making purchases, paying bills, or sending money to others. The advantage of using USDT as a form of payment is that its value is stable, unlike other cryptocurrencies, which can be very volatile.
This makes it a popular choice for individuals and businesses wishing to minimize the risks associated with cryptocurrency transactions.
What is the difference between erc20 and trc20?
Erc20 and Trc20 are both token standards used to create and issue tokens on the Ethereum and Tron blockchains, respectively. The main difference between them lies in the blockchainon which they operate.
Erc20 is a token standard for the Ethereum blockchain that defines a set of rules and standards that token creators must follow when creating tokens on the Ethereum network.
Erc20 tokens are created using Ethereum smart contracts and have become the de facto standard for creating decentralized applications and ICOs on the Ethereum network.
Trc20, on the other hand, is the token standard for the Tron blockchain. It is similar to the Erc20 standard, but has been optimized to work on the Tron network.
Trc20 tokens have faster transaction times and lower fees compared to Erc20 tokens, which makes them a popular choice for decentralized applications and token issuance on the Tron network.
In general, the main difference between Erc20 and Trc20 lies in the blockchain on which they operate and in the technical optimizations that have been made for each network.
What does payment method USDT mean?
USDT stands for Tether USD and is a stablecoin pegged to the value of the US dollar. The USDT payment method means that you can use Tether USB to pay for goods and services or to transfer funds to other people.
The advantage of using USDT as a payment method is that its value is more stable compared to other cryptocurrencies, since it is pegged to the US dollar.
This makes it an attractive option for merchants and individuals who want to avoid the volatility of other cryptocurrencies and at the same time be able to use the digital asset for transactions.
Is USDT payment safe?
The security of USDT or any other cryptocurrency ultimately depends on several factors, including security measures when storing and performing transactions with the currency, as well as the reliability of the exchange or platform where you buy, sell or store it.
Some common security measures include the use of secure wallets, two-factor authentication, and regular monitoring of your account for suspicious activity.
At the same time, it is important to remember that the cryptocurrency market can be very volatile, and any investment, including in USDT, is always fraught with risk.
Before making any decisions about buying, selling or using USDT, it is recommended to carefully study and understand the potential risks and benefits, and, if necessary, seek advice from a financial specialist.
Is USDT payment safe?
To receive a payment in USDT, you need to have a cryptocurrency wallet that supports USDT.
If you use a platform like Wellcoinex, you can simply tell the sender the address of your USDT deposit, and he will be able to send USDT to this address.
It is important to make sure that you send and receive USDT from a reliable source and securely store your private key to access the wallet.
