Virtual currency anchoring US dollar
DCC belongs to counterfeit currency
and has no value at all
Usdt is TEDA currency and cannot be converted into RMB Notice on carrying out self inspection and rectification of payment services for illegal virtual currency transactions all Payment institutions within the jurisdiction shall carry out self inspection and rectification, strictly prohibit providing services for virtual currency transactions, and take effective measures to prevent payment channels from being used for virtual currency transactions
TEDA currency is a virtual currency that links cryptocurrency with legal currency US dollar. Each TEDA coin is symbolically associated with government supported legal tender. TEDA currency is a virtual currency kept in the foreign exchange reserve account and supported by legal tender. This method can effectively prevent the price fluctuation of cryptocurrency. Basically, the value of a TEDA currency is equal to US $1
on January 16, 2018, among the top 50 cryptocurrencies in global value, most of the digital virtual cryptocurrencies suffered a sharp drop in price, but the price of TEDA currency rose against the trend. The price of TEDA was $1.04, up 3.23% from the previous day, with a total market value of $1.69 billion. In addition to TEDA, most virtual currencies, including bitcoin, Ethereum, and lightcoin, have experienced sharp declines
extended information:
in 2017, the regulatory authorities issued the notice on preventing the financing risk of token issuance, which clearly pointed out that financial institutions and non bank payment institutions are not allowed to carry out business related to token issuance financing transactions. All financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability
the Internet Finance Association of China issued the risk tips on preventing ICO activities in disguised form, calling on consumers and investors to recognize the essence of relevant models, enhance risk prevention awareness, invest rationally, and not blindly follow the trend of speculation. Previously, blockchain technology was once sought after by a number of listed companies and the capital market, but it also led to questions about whether it was over hyped and "stepping on the red line"
of course, there are a lot of digital money in the market, such as Baichuan, Vicat, Morgan and so on.
Because usdt is equivalent to self digital currency anchoring the price of US dollar, the price fluctuation is very small and very stable. The purpose of buying it first is to use usdt as the settlement currency in the currency to currency exchange trading. You can directly use usdt to buy bitcoin, which is convenient and fast. Generally speaking, you buy usdt first in the okex exchange, and then you trade bitcoin in the currency exchange, OK, there are many tutorials
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the two main settlement units of bitcoin are US dollar and usdt (actually can be understood as RMB). In the current market, the main exchange settled in US dollars is coinbase in the United States, which allows users to recharge directly with legal currency
while other large exchanges usually settle in usdt, such as coin an, fire coin, okex, etc., which are all currency transactions. They need to convert legal currency into usdt over the counter (OTC), and then deposit it in the exchange
chainalysis reported that e to the influence of the general environment and other factors, 99% of the spot transactions of bitcoin in China are settled by usdt, which is the main channel for the entry and exit of RMB, that is, the main trading market of usdt is in China
offshore RMB exchange rate USDCNH: the so-called offshore RMB market is the market for Renminbi deposits and loans outside the Chinese mainland.
the pricing mechanism of RMB exchange rate in domestic market is different from that in offshore market
the exchange rate between RMB and foreign currency in China is still not completely free, and the exchange of RMB and foreign currency needs to meet the regulatory conditions of safe. Both of them are based on real demand, so the exchange rate is more determined by the supply and demand of RMB and foreign currency under the background of real demand
the RMB exchange rate in the offshore market is not subject to domestic regulation. The transaction is free convertibility and market-oriented pricing. It not only includes the principle of overseas real demand, but also reflects the speculators' speculative demand. Therefore, the RMB exchange rate outside China will be different from that inside China, and sometimes it will be quite different
however, the pricing power of RMB exchange rate is still in China, so although there may be a price difference between domestic and foreign exchange rates, the price difference will not be too big, and the too big price difference will not last for too long. The reason is that if there is a price difference at home and abroad, domestic customers can use RMB cross-border settlement method to choose a better overseas exchange rate for foreign exchange settlement and sales under the background of convenient RMB cross-border settlement. Such arbitrage transaction will result in the domestic foreign exchange gap being wiped out.