What is the cryptocurrency slang 'U'? 99% of newbies are confused.

Hey guys, today let's chat about a super mysterious code in the cryptocurrency world—'U'. Have you often seen big shots in groups saying 'sell U' or 'buy U', and then felt lost? Don't panic, today I will help everyone make sense of this cryptocurrency 'slang' 👀.

What exactly is U?

Actually, U is the abbreviation for USDT, which is Tether. It's like the little sidekick of the US dollar, being a stablecoin pegged 1:1 to the dollar. Simply put, 1 U is roughly equal to 1 US dollar. Friends in the cryptocurrency world use it to hedge risks or for trading; it’s basically the 'cash' of the crypto world.

Why do people in the cryptocurrency sphere love U so deeply?

👉 First, stability. The prices of Bitcoin and Ethereum can be like a rollercoaster, soaring and plummeting. But U? It basically stays around 1 dollar, which is a solid 'safe haven'.

👉 Second, high liquidity. U can be freely exchanged for other cryptocurrencies on major exchanges, making trading super convenient.

👉 Third, universally accepted. No matter where you are in the world, U can come in handy; it’s practically the 'international currency' of the cryptocurrency world.

What are the common ways to use U?

👉 Selling U / Buying U, which means buying and selling USDT. It’s like wanting to exchange your U for RMB or buying U with RMB.

👉 Arbitrage, which involves buying U at a low price on one platform and selling it at a higher price on another, but there's definitely some risk involved, so be careful, guys.

👉 Hoarding U for risk hedging. When the market is as unstable as a small boat in a storm, many people will convert their coins into U and then swap back when the market improves.

😏 Newbies pay attention!

Although U is very convenient, there are also traps in it.

👉 For example, fake U. Some bad actors may use fake U to scam people, so always choose reliable platforms or acquaintances for transactions.

👉 Also, there are risk of card issues; directly using a bank card to trade U might trigger bank risk control, so I recommend using an intermediary channel for transactions.

🤗 In summary, U is the 'hard currency' of the cryptocurrency world. Understanding it is essential for navigating the crypto space. However, all investments carry risks, so be cautious when entering the market.