Why doesn’t Alipay accept USDT (why can’t you buy USDT)?

08/13/2023 07:20 • Metaverse & Beyond • 59 views

Why doesn’t Alipay accept USDT? In China, many people can buy Bitcoin using their smartphones. However, this is not because you are not familiar with the industry, but because everyone has different impressions and understandings of it.

First, let’s take a look at what Alipay is:

WeChat Pay is a payment method that uses blockchain technology.

Alipay can help users purchase digital currency wallets (such as bank cards) without the need to bind bank accounts or ID numbers after payment.

Second, when your mobile phone card is lost, Alipay will automatically freeze the balance in your bank card. If funds are stolen, Alipay will also help you transfer the funds to your own bank card. Lastly, have you ever noticed that many merchants choose to accept cash? Why is it said that Alipay only needs to open a QR code to complete the transaction? So for most people, they don’t feel it’s troublesome, they just think it’s easier. Of course, some consumers also like to use credit cards or debit cards for shopping, so Alipay will not directly give loans to these customers.

Why can’t you buy USDT?

Why can’t you buy USDT? Why can’t you afford to buy USDT? What is the reason?

In the past few years, Bitcoin and blockchain technology have gone from being a major breakthrough to a new field: it can bring huge innovation to the global financial system. However, as more and more people accept Bitcoin and other digital assets as a means of payment and use them as a store of value, the use of this new technology has started to decline. Due to the increasing demand for cryptocurrencies, many people have started to transfer their funds to other exchanges or custody platforms, which makes it impossible for them to buy Bitcoin, Ethereum, and some other altcoins. And now, there is another problem: USDT cannot be bought.

In order to solve this problem, it is necessary to study whether USDT holders will be sold because of their trading decisions, or even sell them to the market itself (or generate cash rewards through their own wallets). If investors choose not to trade, they will lose liquidity and incur investment losses. According to data from CoinMarketCap, “utility tokens” (i.e. USDT) currently account for about 5% of the circulating market value, second only to 1%-4% of the US stock market. In addition, “utility tokens” have also increased by more than 3 percentage points, reaching 3%. However, this is not good news for users who do not have sufficient balance. On the other hand, the total supply of “utility tokens” may not be sufficient to support a price increase. “UtilityTokens” is an ERC20 token used to send or receive stablecoins in USD. It represents the ability of users to provide funds to a specific address—For example, the address has received about 100,000 USDT, totaling about $40,000; There is also support for other cryptocurrencies (such as DAI), including ETH, XRP, and Tether (USD). In fact, “utility tokens” still exist because most Bitcoin holders’ accounts do not have any Bitcoin or Ethereum. According to CoinMetrics analysis, “although USDT holdings are at historical lows and there are still a large number of unsettled positions, these are long-term losses in the short term.”

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Why doesn’t Alipay accept USDT (why can’t you buy USDT)?

Why can’t you buy USDT?

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