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Why do people use USDT for cryptocurrency trading (Why do you need multiple accounts for cryptocurrency trading)?

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Why do people use USDT for cryptocurrency trading? In 2018, the circulation of

Why do people use USDT for cryptocurrency trading (Why do you need multiple accounts for cryptocurrency trading)?

Why do people use USDT for cryptocurrency trading? In 2018, the circulation of stablecoins worldwide reached over 2 trillion dollars. This means that more than 100 million users can deposit fiat currency into a decentralized platform for trading without any intermediaries. Currently, stablecoins are being used for various purposes such as cryptocurrency payments, transfers, lending, mortgages, and other financial applications.

Since the beginning of 2017, USDT has been a focus of the market, with a 1:1 peg to the US dollar. It has become a standard component in the stablecoin market and has made stable asset prices more secure and mainstream.

Nowadays, stablecoins are appearing more and more in various scenarios, including exchanges and DeFi. But why have these digital tokens become so popular?

1) Use of stablecoins globally: Since most central banks have not issued their own CBDC (Central Bank Digital Currency), and there is still much uncertainty regarding CBDC research by governments around the world, for some emerging economies, CBDC may not fully meet people’s needs and may even lead to “inflation”. Therefore, as the Bitcoin and Ethereum networks develop, this situation will gradually improve.

2) Increased popularity of blockchain technology: Many blockchain projects utilize blockchain technology, such as EOS, ETH2.0, etc. However, due to the high adoption rate of blockchain technology, many developers of projects are unable to leverage the protocol to create new applications. For example, smart contracts on EOS require code verification through third-party hosting service providers in order to run. If one day someone finds that a DApp is not live, they can deploy their own application on other DApps, bypassing this intermediary and causing the entire industry to become paralyzed.

3) Advantages of blockchain technology: While it is difficult to achieve fast and efficient cross-border transactions in the traditional internet world (especially in Asia), it is easy to send it to another person when you have a stable source of funds. Even the most powerful cryptocurrencies, like Bitcoin, can serve as a means of value storage, just like virtual reality assets, and it is necessary. However, when you hold Bitcoin or Ethereum, it is not always easy to be influenced by hackers or theft. On the contrary, once a system failure occurs, it may not be able to eliminate all potential user barriers and security risks.

4) Blockchain technology itself is not the solution to solving problems. Its emergence can make the technology of blockchain more mature and give greater value to the interests of more people.

5) Slow off-chain transaction speed: Currently, most blockchains run on the Lightning Network, so we can complete this process using BTC or ETH. Of course, there are two other models that can be adopted, and they are networks dominated by TRON. In addition, all stablecoins on TRON can be maintained by the TRON team.

Why do you need multiple accounts for cryptocurrency trading?

According to CoinDesk, it is a complex matter to involve multiple accounts in cryptocurrency trading. In the field of digital currency investment, there are many different user groups who can operate and transact with one or several independent accounts at the same time. However, this does not mean that everyone should have a separate username or unique password.

So, how do you use one account? First, creating an account requires using multiple accounts for transactions. First, after opening multiple accounts, you need to put this account in another account (such as an exchange). Second, after registering two new accounts, rename this account as “Huobi”. The third account needs to register a new account and log into the system to avoid being hacked.

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