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1  Alternate cryptocurrencies / Altcoin Discussion / Re: I don't get the whole USDT thing on: April 14, 2024, 03:33:05 AM
i'm old enough to be your mom's little sister, but thanks for all the parental advice guys. appreciate the heartfelt concern.

it's a good thing people like you guys are out here to warn people like me about the dangers of life.

you're clearly smarter than i am & know people better than i do.



ha ha ha i think this is the wrong forum ha ha ha



 Roll Eyes






2  Alternate cryptocurrencies / Altcoin Discussion / Re: I don't get the whole USDT thing on: April 14, 2024, 01:46:38 AM
seems like you're a bit out of the loop

and btw i said i have a coinbase acct. multiple times.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: I don't get the whole USDT thing on: April 14, 2024, 01:35:47 AM
First of all, if you've read online you need a VPN to access different parts of the exchanges functionality, this isn't by design, this is an attempt to evade the terms of service of the site, so I highly recommend you do not do this as you risk your account being banned and funds frozen.

Looks like literally everyone does it from what I've seen on Youtube & in Discord. Guys with $10 million accounts down to guys in their basement. Everyone everywhere is longing & shorting & using leverage all day long all the time. Apparently 100% of the ones in the US use a VPN. I think? is that how it works?

Quote
Whilst you deposited USD dollars and the exchange is holding that, the exchange has millions of other customers from regions where they don't deposit USD, they deposit their own local currency. The reason BTC and other crypyocurrencies as traded against USDT, Tether and other stable coins is to ensure that all customers and thus demand are trading on the same pairs / order books. When you convert USD dollars to USDT, you are actually buying a cryptocurrency which can be withdrawn..I can't speak to the fees that Coinbase would charge you on this, but it is a transaction and would occur fees, as technically you could withdraw the USDT to your own wallet.

Still lost  Undecided
4  Alternate cryptocurrencies / Altcoin Discussion / I don't get the whole USDT thing on: April 14, 2024, 01:10:25 AM
Hello Grin

I've had a Coinbase account for a couple years, just playing around with trades. I want to get more involved, so I'm watching people on Youtube & they're shorting crypto & using leverage, but I don't see it available in Coinbase. After a lot of research, it turns out I need a 'VPN' subscription first since I'm in the US. Alright, ok...

Well I may as well go with an exchange with lower fees while I'm at it, time to take off the training wheels & go with.... let's say Zoomex. One of the Youtube guys likes it, so I guess I do too.

Ok, I open an account, go to deposit some money, and it's impossible. It wants USDT... a coin to buy a coin (?)... ok, so I go to buy some USDT with good ole USD and it says I'll get 900 for my $1000. This ain't making much sense. What happened to a simple USD account.

Then I wonder how I'd withdraw to my bank, and I read "Enjoy selling Tether with transaction fees as low as 1% for bank transfers"


I'm totally lost. I just like to read charts and play the game. Shorting would be fun. All this other stuff has my head in knots. Can someone please help me out here :/



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