What is the price system of USDT across various platforms, both on and off the market, and what do the terms mean?

Today, let's talk about the price system of USDT that many beginners are unaware of. When they first ask about the exchange rate, it actually shows their inexperience. You're not exchanging currency; you're just an individual trading cryptocurrencies by buying low and selling high. What exchange rate are you talking about?

Every chat record you have will add to the chips for your future sentence.

So don't pretend to be an expert; if you're trading cryptocurrencies, just trade. If you want to ask about prices, just ask about prices. Why add an exchange rate? Many exchanges and traders are fine, but if you come in with illegal currency exchange, are you happy? Engaging in illegal operations can easily trap you.

Let's take a look at what USDT really is. Don't blame me for being verbose; there are still beginners who don't know.

Tether (USDT) is a token launched by Tether Limited, based on the stable value currency, the US dollar (USD). 1 USDT = 1 USD, and users can exchange USDT for USD at a 1:1 ratio at any time. Here, we have a benchmark: U is equivalent to the dollar, which gives us a basic reference price. You can check real-time conversions of USD to RMB on various apps.

For example, on June 10, today, it's about 7.18. So what causes the price differences across platforms, and why can't you exchange at this price, or why can you sell for over 7.3?

Channels determine terminal prices. This is the most profound insight I gained while learning sales: it's all about the channel. Competing with all e-commerce platforms, the products are cheaper, as they are directly shipped from the manufacturer.

Let's take the OKEx C2C (OTC) as an example: market price.

It is divided into purchase price, selling price, and bulk price. What do these mean?

The image below shows the purchase price on the C2C trading page, which is the cheapest price if you want to buy, at 7.18 RMB per U. Of course, below is the total price range of 99999-1321767, which is generally not used as a reference price; this is the amount of funds that traders can circulate.

The real price is generally seen in the sell orders, which is the price when you sell. This is usually the true price. For example, in the image below, the first merchant can sell 100,000-350,000 at the price of 7.18 instantly; this is their circulating fund volume, or the quantity they want to buy now.

Now, the price of 7.18 is roughly the reference price across all platforms, which is the market price, with a downward adjustment for safe funds and an upward adjustment for unsafe funds.

Finally, the bulk price is 7.16. For example, this merchant, we filtered to see that amounts from 100,000 to 11 million can be absorbed. This bulk amount will be a few cents lower than the market price; this is their profit.

This market is very healthy: buy at 7.17, sell at 7.18. This is a normal market. Sometimes you might see price inversions, and at this point, some people might ask, "If I can buy at 7.14 and sell at 7.18, have I discovered a wealth code? Just buy and sell to them?"

You really think you're clever. So why does someone buy at 7.18 and sell at 7.14? That's because… black… money laundering.

Yes, you read that right. The hard-earned money you use to buy U is taken by the other party, and when you sell, they directly pay you with black money from telecom fraud. It seems like you lose a penny, but their profit is over 50%.

And you bear the consequences of a frozen card; after selling U, the money still needs to be returned to the victim, while the trader has long since exchanged your U for cash.

All losses are borne by you, the beginner, who wanted to sell for a few extra bucks.

Now, someone might ask, why is U 7.5 on my platform? For example, why is there such a large price difference on Yibifu?

Let's take today's market price of 7.33 as an example; it's actually easy to understand. Black money inflates prices, while white money deflates prices. It's that simple.

For example, on shady platforms or score-running platforms and online gambling platforms, they can even buy your U for 7.5. You see, you bought it for 7.18, and you can sell it for 7.5; this behavior is called arbitrage.

But the result will definitely lead to trouble because if the funds buying your U are above this price, it means the source of the funds is unclear. The higher the price, the darker the funds. Some shady platforms can even buy your U for 10-12 RMB; this U was sold in the morning, and the person was executed by noon.

Many smart friends have discovered that withdrawing U from gambling platforms to sell at legitimate exchanges solves the frozen card problem, right?

Actually, this reduces risk but does not completely avoid the problem. First, when you withdraw from the platform, they might calculate it at 7.35. Assuming you withdraw 10,000 RMB, you only get 1360.5 U, and then when you get to a legitimate exchange, you can only sell at 7.18, leaving you with 9768 RMB. You've lost about 2.5% due to platform wear and tear.

At this point, when you withdraw to the exchange, the U from such platforms will be controlled, leading to risk control and account bans.

Taking Yibifu as an example, at a price of 7.5, it is basically a shady deal; the darker it is, the higher your price. The white money and cash from off-market traders will definitely be lower, possibly around the 7 RMB standard.

Do you understand now?

Different benchmark platforms have different prices. When you sell, don't use the standards of Yibifu to correspond to the standards of off-market safe funds. The safer the funds, the lower the price.

It's like if the girl from your village, Er Ni, goes to Dongguan, she might be called Monica, and the price will be different. If she knows how to do live streaming, her value will rise rapidly.

Different platforms, different prices.

Is the safety of Dongguan's Monica comparable to that of Er Ni from your village?

So don't sell your U recklessly on unfamiliar platforms. Understanding the price system will help you avoid losses.

In the off-market OTC field, there are also some terms you must understand to differentiate.

White funds: These are permanently judicially frozen funds, meaning frozen cards are compensated.

E-commerce funds: These are true white funds; very few people in the entire industry have this resource.

Tianyancha: This can check the details of bank card freezes, fund flows, responsible persons, freezing institutions, and other detailed information.

Material: This refers to the type of funds, such as telecom fraud funds, online gambling funds, or yellow broadcast funds.

First-hand material: This is first-hand black money, directly transferred to your card by the victim.

Second-hand material: This is second-hand black money, directly transferred to the card farmer's card by the victim, with dispersed funds, commonly seen in online gambling or selling U after obtaining funds, leading to frozen cards.

Material mismatch: You tell me what kind of funds, but what actually comes in is another type.

Cash-out gang: A group that withdraws cash.

Gang leader: The boss of the criminal group organizing the cash-out.

Card farmer: Someone who sells bank cards because they can't make a living, working under the gang leader.

Cash-out vehicle: This means the money in the card is all withdrawn by the cardholder.

POS vehicle: This unloading method is the most common, especially during a rush, as it is quicker to swipe the money from the receiving card through a POS machine.

Gateway vehicle: This connects online merchants, payment processing institutions, and consumers; generally, such vehicles are rare now.

Code vehicle: A vehicle with many payment codes, helping the market collect money from victims through payment codes.

Card vehicle: Simply understood as card-to-card transfers, which is the oldest unloading method, quickly transferring funds from the receiving card to launder money.

Gold vehicle: A gang that has its own gold payment and recycling channels, using receiving cards to buy gold and then selling gold to launder money.

Physical vehicle: Some markets will connect with gangs to deceive victims into buying a certain phone and sending it to a specific location; the gang has its own channels to recycle the physical goods.

International vehicle: A gang with overseas payment channels, commonly known as an overseas express vehicle.

This is part of the black jargon in the cryptocurrency off-market. Can you still safely sell U in it?

There are pitfalls everywhere; please stay away from virtual currency trading.

Don't ask me how I know all this. It's all yan.

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