Why Digital Wallets Need Omni USDT

[Bitpie Wallet]

Some people in the blockchain industry said: the war among digital wallets is on the verge. They think that many start-ups have rushed into digital wallet field and wallet developers have sprung up.

At first, this opinion can hardly hold water. Because, in the long run, the competence of the digital wallet is to realize decentralized exchange with cross-chain technology and supports Dapps based on various main chains.

While from the moment, the wallet who supports Omni USDT will have certain advantages.

It is undeniable that now the biggest consensus on the purpose of digital assets is speculation. While stable tokens are quite important to speculation, Omni version of the USDT, as the most stable token with high liquidity, has been playing an important role in risk hedging and asset preservation in the current trading scenario.

It is no exaggeration to say that there will not be the current prosperity of digital currency without USDT.

Nowadays, most of the digital wallets in the industry are developing decentralized exchanges, such as kyber protocol or Bancor protocol based on Ethereum to realize ERC20 token trading.

But the application of those exchanges currently cannot meet the need of most of the users no matter in transaction velocity or usage habit.

Furthermore, the decentralized exchanges have not realized atomic cross-chain swaps, so there is a long way for digital wallets to real decentralized exchanges.

Nevertheless, compared to providing decentralized exchange services that do not implement cross-chain transactions, digital wallets can be upgraded and have a change in the existing trading scenarios, among which supporting Omni USDT, USDT-based trading pairs, and providing OTC and financial services will become a rigid demand. The details are as follows.
 
01 To provide a safe and reliable storage solution for the large amount of USDT

Getting USDT through OTC transactions to gain access to the digital asset world is the beginning of all transactions. However, there is a long-standing and huge risk for OTC traders who offer OTC services: because of the long-term lack of a safe and reliable wallet, OTC traders have to deposit their digital currency in the exchanges, leaving the huge assets at high risk. Therefore, there is persistent demand in the market for wallets that can provide safe and reliable USDT storage solutions.

02 To provide traders with risk hedging and risk aversion solutions

Firstly, stable tokens can reflect the price of cryptocurrencies directly, allowing digital asset holders to have a clear picture of their fund. Secondly, due to the high risk and volatility of digital assets, it is important for digital asset holders to convert their tokens to stable coins to hedge and avoid risks. Exchanges that only support cryptocurrency transactions without trading pairs based on stable tokens can hardly win the market.

03 To provide convenient service for quantitative trading and arbitrage

A large part of exchange's trading volume comes from quant teams and users aiming to arbitrage. While both quantitative trading and arbitrage need stable tokens as a mean to keep the value profits earned or liquidate, storage of a certain amount of digital assets and stable tokens are inevitably required by quant teams, and users require on various exchanges. If the wallet does not support USDT, it will not provide convenience for users who conduct quantitative trading and arbitrage, which will impact the transaction depth and make it hard to build a perfect transaction ecology.

Therefore, it is easy to see that the competition between digital wallets is on the transactions now wallets who can provide quick transaction service as centralized exchanges do and safe storage solution for a mainstream stable token, USDT will win the users.

As the only decentralized wallet that has been safely guarding the user's assets and accompanying users from the beginning of the industry without even asset loss due to technical defects, Bitpie proposed "Centralized matchmaking with decentralized delivery" as early as February.

Bitpie is glad to announce that it has launched Omni USDT last week and will gradually open USDT-based trading pairs, OTC trading and financial products within one or two weeks.

We hope that our efforts will provide real and effective support to those in need and we can let users enjoy the services better than that of centralized exchanges by the security of the wallet.

At last, the digital wallets have a long way to go. At the current stage, I hope that people can pay more attention to how to provide good service to users rather than temporary competition.

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Telegram: t.me/BitpieInternational
Twitter: @BitpieWallet

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[bonballi]

It’ s needed the capability of the digital wallet is to grasp decentralized exchange with cross-chain expertise and supports Daps based on various main chains.

[althiche]

The most stable token with high liquidity is the Omni USDT. Digital wallet is in need of it as- it converts the token into stable coins that reduces the risk, provides wallets the most reliable USDT storage solutions. USDT will be one of the best service providers for digital wallet in the near future!

[Yellow Grendels]

Seems like USDT is doing really better that what crypto enthusiasts expected. If they keep up the pace they are showing right now, I am sure a lot of digital wallet companies will come and adopt them as it is highly risky for OTC trading of USDT and keeping them stored in an exchange, which has the higher possibility to get stolen.

[UAE Seasider]

USDT has been pretty useful for me on a number of occasions when I believe that the market is going to undergo some serious downward price movements. I park my funds in Tether then buy back in when I think the decline is over its a useful pair in my opinion.

[Mgaehegguj]

Right now, USDT is looking more stable than a lot of coins available in the market but I don't really agree with the fact that the digital wallets need USDT rather USDT needs to have a convincing performance in the market so that the digital wallet industry starts considering adding this coin in the future.

[BItCoinPidger]

That is more of a promotional article of Omni USDT as it seems like but here is what I think, the wallet industry is still developing as there hasn't been a wallet who could claim to be foolproof. Personally, I believe that having a stable coin like USDT will definitely help the user realize what else they want from their digital wallets which in return will see a healthy competition among the wallets in crypto industry.

[Vatimphady]

Right now, instead of changing wallets, all we need to do right now is to make sure that our private key number does not reach to anyone else. Yes, the wallets do need more upgrade, but for the time being, let's stick to this one.

[Wandly]

The digital wallet still need a lot of upgrades and has a long way to go. But for the time being, instead of jumping from wallets to wallets looking for a secure one, we just need to keep the private key number concealed.

[Bryrsyrog]

Taking safety is mostly important based on this if we do not share our private key with anyone then we can save from hackers and frauds also if it is ensureing then they will not gonna face problems and difficulties.

[Mir Zafar]

The only thing the people needs to make sure is that, to keep their private key number safe. If that is ensured then they will not face any difficulties and their wallets will remain safe.

[Fromand1993]

Omni protocol is an important feature of of wallet. Here the wallet can be deployed on your own server and host your own instance. It has a prebuilt support of Bitcoin, Omni and test Omni.

[cryptoherr]

yeah you should save your private key just at an sheed of paper and store it somewhere safe at your house. At the Moment i have not invested huge amounts of Money in crypto so i can have the paper in my house and not at the safe

[btchunter786]

You have written very detailed article regarding this issue. And it really help me to clear out some of my confusions. Stability of tokens directly has a reflection on market price so yes it is important render risk aversion solutions to traders.

[Billgates710]

your wallet is the main store for keeping your assets so it requires extra security and we should provide it properly otherwise it could cause us major problem so try to be aware about it safety

[painkiller321]

I think digital wallets are more secure from traditional wallet. it will provide better service from other by omni USDT. It will reduce more risk and probable to our money. i think it will more potential and its future will bright.

[Viscera]

I think digital wallets are more secure from traditional wallet. it will provide better service from other by omni USDT. It will reduce more risk and probable to our money. i think it will more potential and its future will bright.

I'm not even convince on USDT. But Digital wallets can make you profitable than any traditional wallet.

The only thing the people needs to make sure is that, to keep their private key number safe. If that is ensured then they will not face any difficulties and their wallets will remain safe.

That's right we need to keep our private key safe, i suggest to buy hardware wallet such as Trezor and Nano wallet. If you can't provide one then you can choose web storage wallet or hot wallet.

[RoadRascal]

Omni USDT is required for digital wallet because it will give you security and will guarantee faster service. You're right. The digital wallet is different from the traditional wallet and secure. Reduces risks and keeps you transparency in trading.

[Goodwin54]

I think what you said is correct and i agree with you. Most of the investors nowadays is new, so they are scary about risk and will find any kind of extra assistance useful. Then again safety is also useful for old investors too. Continuous assistance, risk aversion solutions, safe and reliable storage is welcomed by everyone. So I think every Digital wallet needs omni USTD.

[HDContent751]

That article have needed information. Those who haven’t proper knowledge about that(how omni osd work with digital wallet), they should helped by this article`