Why and How to Set Up USDT Payment Gateway?
Updated On May 25, 2023 | by James Wilson
USDT is one of the most popular stablecoins on the market. This currency is commonly used to buy other currencies and is easy, fast, and efficient. Since USD is backing up the USDT payment gateway, its value should be more stable than other currencies.
USDT payment gateway eases transactions for companies no matter their size. The worldwide transaction allows businesses to buy and sell assets anytime from anywhere.
Are USDs and USDTs the Same?
You might be wondering what is USDT and how it is different from the USD that we all know. well for the fact that the value of currency remains identical to each other.
Well, there are some things that you need to know about both of them.
Currency Exchange
Since USD is the currency accepted all over the world and is the world’s major leading currency, you can exchange the currency in the respective country you are residing in.
For USDT, unfortunately, this feature lacks and we cannot swap it in exchange for the currency of our choice.
Stability
There is no doubt how safe it is to invest in the US Dollar compared with other currencies. But that is not the case with the USDT. Being from a crypto family, the USDT is highly unstable and faces a lot of changes in price throughout its lifetime.
However, if compared to other crypto, it is still safer and more stable, but there is no other currency that can beat USD. These are the stats that we could collect till now regarding the fluctuations in its prices.
1-to-1 Proportion
The USDT is based on the Ethereum blockchain and is secured with the real American Dollar in one-to-one proportion. The need for this currency was felt by the developers from Tether Inc. It was intended to be a stable currency for the crypto world. Just like USD is for the real world.
The regular audits of the claims done by the coin are published on the company’s official website.
These were the points that inform us of the differences and links between the two of them.
How to Start With USDT?
It is super easy to get started with USDT payment systems. But still, you need to keep some things in mind like the terms and conditions of the coins and functioning rules so that there are zero chances of any potential loss.
Giving this discussion a green light, the following is a step-by-step guide that you should follow.
1. Select a reliable stablecoin exchange from the most popular options, such as Binance, Kraken, or Bitfinex.
2. Create an account with your chosen platform, after which identity verification is necessary.
This step-by-step process will get you on track for depositing funds into your wallet – paving the way to trading activity and payments via USDT.
3. To easily accept payments in USDT, you can generate a Q.R. code for your address to add to your website or app.
This will allow customers to quickly and securely transfer funds directly into your exchange account.
4. Services like Blockchain.info and BitPay simplify it by allowing users to conveniently scan the generated code before initiating USDT payment systems.Accepting crypto payments has many advantages, and one excellent option is stablecoins such as USDT. Transfers are easy to complete at lower fees with faster transaction times – perfect for businesses looking to accept cryptocurrency payments. So what are you waiting for, hurry up and do not miss out on the opportunity.
