Disclaimer: Cryptocurrency investment carries a high level of risk, this tutorial is only a guide and does not constitute any investment advice. Please make sure that cryptocurrency trading is allowed in your region and be aware of the risk to your money.
🚀 Foreword: Why is it important to deposit "safely"?
USDT is a "stable anchor" into the world of cryptocurrencies. For most users, depositing (buying USDT with fiat currency) is the first step.
However, in the C2C (person-to-person) trading model, if you don't pay attention to the details, it is easy for newcomers to receive black money, which can lead to a frozen bank card or a scam. This tutorial will teach you by hand how to screen quality merchants and minimize the risk of deposit.
✅ Stage 1: Preparation
Before you start buying, make sure you have completed the following settings, which are the basis for protecting the security of your account:
- Sign up for an account on a mainstream exchange: We recommend choosing Binance, OKX or other headline exchanges (good liquidity and strict merchant review).
- Identity verification (KYC): You must complete Lv.1 or Lv.2 real-name authentication.
- Security Settings: Bind your cell phone number, email address, and make sure to turn on Google Authenticator (2FA).
- Payment Method Preparation: Prepare a bank card of your own (it is recommended to use a separate bank card that is not a payroll card or mortgage card), Alipay or WeChat.
- Note: The name of the real name authentication of the exchange must be the same as the name of the payment bank card holder, otherwise the transaction will not be possible.
🔍 Stage 2: Core Tips - How to Screen Reliable Merchants
This is the most crucial step. Don't just look at the price, security is more important than being that few cents cheaper. In the C2C/P2P trading area, be sure to screen merchants according to the following criteria:
1. Look at the certification level
- Prioritize certified merchants with the "S.H.I.E.L.D.","Blue Shield" or "Pro" logo. These merchants have paid a high security deposit, and the probability of them running away or being involved in blackmail is extremely low. 2.
2. Look at the time of registration and the volume of orders (key data)
- Time of registration: It is recommended to choose a merchant who has been registered for more than 6 months (preferably more than 1 year).
- Total number of orders: It is recommended to choose a merchant with more than 1,000 orders.
- Closing Rate: 95% - 98% or more is preferred. 3.
3. Check the terms and conditions
- Go to the merchant's homepage and check their terms and conditions. Avoid merchants that are too demanding or direct you to off-site social media programs (e.g. QQ, Telegram).
💡 Golden Rule: Don't sign up with a new merchant just to get a cheaper rate (e.g., a much lower exchange rate than others). Low prices often come with high risk.
📝 Stage 3: Order and payment process
Step 1: Enter the C2C/P2P trading area
Find "Buy Crypto" -> "C2C Trading" (P2P Trading) or "Quick Buy Cryptocurrency" on the homepage of the exchange .
Step 2: Filter and place an order
- Select "Buy" and "USDT".
- Enter the amount you want to buy.
- Follow the tips in "Phase 2" to select a reliable merchant and click "Buy USDT".
Step 3: Transfer the money (the most error-prone part)
After the order is generated, you will see the merchant's payment collection information (name, card number/alipay account) on the page.
- Leave the Exchange App and go to your netbanking/alipay to transfer the money.
- ⚠️ It is absolutely forbidden to note any sensitive words:never put USDT, BTC, Bitcoin, Ether, cryptocurrencies, etc. in the notes field of the transfer. This can cause your transfer to be blocked by your bank or even cause both accounts to be audited.
- Suggestion: Fill in nothing, or just the random "reference number" provided by the exchange (if required by the merchant).
Step 4: Confirm payment
After the transfer is successful, go back to the Exchange App and click "I've paid, notify the seller".
- Note: Be sure to transfer the funds before clicking this button. If you click it without transferring money, it will be judged as a malicious operation by the system.
Step 5: Wait for the coins to be released
Once the merchant has verified receipt of the payment (usually within a few minutes), the merchant will release the coins, and the USDT will be automatically deposited into your "funding account" on the exchange.
🛡️ Stage 4: T+N Restrictions and Withdrawals
In order to prevent money laundering, many exchanges impose a T+1 or T+7 limit on new purchases:
- T+1 Restriction: The USDT you buy cannot be withdrawn to another address (e.g. on-chain wallet) within 24 hours, but you can trade coins within the exchange (e.g. buy BTC).
- Planning Advice: If you need USDT urgently for on-chain interactions, be sure to buy it a day in advance.
⚠️ Appendix: The Three Iron Rules of Frozen Card and Scam Prevention
For the safety of your funds, it is important to follow these rules:
- Consistency in real name: Pay only with an account in your own real name. If you pay with a relative's or friend's card, the merchant will refund you and complain, and your account may be banned.
- Refusal of off-site guidance: All communication must take place in the built-in chat window of the exchange. If a merchant asks to add you to a private chat on WeChat or Telegram, or sends you an unspecified link, it's 100% a scam, so report it.
- Dedicated card: Don't use your paycheck card, social security card, or main card with large savings to buy coins. It is recommended to apply for a separate Class 2 card and charge it as you go to maximize risk isolation.
❓ Frequently Asked Questions (FAQ)
- Q: What if the merchant doesn't release the coins after payment?
- A: Don't worry. The merchant's USDT has already been locked by the exchange system when you placed your order. If the merchant does not release the coins after the time limit, you can click "Appeal" and upload the payment proof, the customer service will intervene and transfer the coins to you.
- Q: Why is my card restricted from over-the-counter transactions?
- A: This is usually due to triggering the bank's big data risk control (e.g. late night large amount transfer, frequent fast in/out). It is recommended to leave your card for a period of time or go to the bank counter to lift the restriction. Strictly selecting established merchants can greatly reduce the risk of receiving "involved funds" and having your card frozen.
I hope this tutorial will help you make your first USDT transaction smoothly and safely!