How to trade digital assets, taking the stable currency USDT to buy Bitcoin BTC as an example.

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What is currency trading?

Most of the digital asset transactions we usually contact use stable currency (such as USDT\USDC, etc.) as the pricing unit, so as to price digital currency such as Bitcoin (BTC) and Litecoin (LTC). For example, when using USDT to price Bitcoin, a BTC/USDT transaction currency pair is formed (when using one digital currency to price another digital currency, a transaction currency pair will be formed).

Through currency trading, the exchange between digital currency can be completed, thus earning the income of buying low and selling high. For example, when you buy bitcoin with USDT, the bitcoin market goes up, so you can exchange bitcoin for more TEDA coins. Suppose you buy 1BTC when it is worth 30,000 USDT, and sell it when the unit price of Bitcoin rises to 40,000 USDT, then you can exchange it for 40,000 USDT and earn 10,000 USDT. On the contrary, when the bitcoin market drops, the same amount of bitcoin can be converted into less TEDA coins, and if it is sold, it will cause losses.

So, what if bitcoin is used as the pricing unit to price Litecoin? Currency-to-currency transaction refers to the exchange of one digital asset for another. For example, using BTC as the pricing unit to price LTC, an LTC/BTC transaction currency pair is formed. The price of this transaction currency pair represents how many units of BTC are needed to buy one unit of LTC, or how many units of BTC can be obtained by selling one unit of LTC.

At present, there are four major trading areas in Euroeasy currency trading, namely: USDT trading area, USDC trading area, other stable currency trading area and CRYPTO trading area.

In other stable currency trading areas and CRYPTO trading areas, other digital assets can be used as the pricing unit for currency-to-currency transactions. For example, BTC can be used as the pricing unit to purchase ETH in CRYPTO trading areas.

The mechanism of currency trading is mostly matching mechanism, with price first and time first. When the purchase price is more than or equal to the sale price, the transaction will be made immediately, so as to realize the exchange between digital currency.

How to conduct currency transactions?

Open the Ouyi APP (download the tutorial) and obtain the basic currency such as USDT through [Buy Currency] or [Recharge]. Click the fund transfer button on the transaction page, select the transferred currency USDT, enter the transfer quantity, and transfer it from the fund account to the transaction account.

Click on the transaction at the bottom of the home page to enter the transaction page, click on the transaction again and select the spot transaction. Click the transaction pair at the top of the page, enter the currency BTC you want to buy in the search box, select the spot, and click the corresponding currency pair BTC/USDT (if it is already on the current currency pair transaction page, this step is ignored).

After entering the currency pair trading page, in the buying interface, select the buying method, enter the buying price, quantity/amount, and click Buy BTC. The buying method is usually price limit entrustment, and you can set an ideal price to buy. When the order has been placed successfully and the transaction has not been completed, you can see the information of the order and withdraw the order at any time.

Click the Order button at the bottom of the page, you can see your current entrustment and historical entrustment, and click the entrustment sheet to see the entrustment time, currency pair and transaction volume of the order in detail.