Today, let's talk about a mysterious code in the crypto world — U! Have you often seen big shots saying 'sell U', 'buy U' in the group, and felt confused? Don't worry, today I'm going to help you fully understand this crypto 'slang'!
What exactly is U?
Actually, U is short for USDT, which is Tether, a stablecoin pegged to the US dollar at a 1:1 ratio. Simply put, 1U ≈ 1 US dollar, and people in the crypto world use it for hedging or trading, equivalent to 'cash' in the crypto space!
Why do people in the crypto world love using U?
Stability: Bitcoin and Ethereum can fluctuate greatly, but U remains relatively stable around 1 US dollar, a true 'safe haven'!
Strong liquidity: U can be freely exchanged for other cryptocurrencies on major exchanges, making transactions super convenient!
Globally accepted: No matter which country you are in, U can be used, making it the 'international currency' of the crypto world!
Common ways to use U
Sell U/Buy U: This means buying and selling USDT, for example, if you want to exchange your U for Chinese yuan, or buy U with Chinese yuan.
Arbitrage: Buy U low on one platform and sell high on another, making a profit (but the risks are not small either!).
Hoarding U for hedging: When the market is unstable, many people will exchange their coins for U, waiting for the market to improve before exchanging back.
Newcomers, beware!
Although U is very convenient, there are also pitfalls! For example:
Fake U: Some fraudsters will use fake U to deceive people, so always choose reliable platforms or acquaintances for transactions!
Card risk: Directly using a bank card to trade U may trigger bank risk controls, so it's advisable to use intermediary channels for transition.
Make sure to follow and like! Was your friend also confused the first time they heard about U? Come share your crypto stories in the comments!