EDUCATION

What is USDT (Tether)?

Get to know the stablecoin used as the primary rebate payout method at Myfxrebate: what it is, how it works, and how to get it.

Definition of USDT

USDT (Tether) is a crypto asset categorized as a stablecoin, meaning it is a digital asset pegged 1:1 to a fiat currency—in this case, the United States Dollar (USD). This means 1 USDT is consistently designed to maintain a value equivalent to 1 USD, unlike typical cryptocurrencies (such as Bitcoin or Ethereum) whose prices fluctuate freely based on market dynamics. USDT is issued by Tether Limited and is currently one of the largest stablecoins by trading volume and market capitalization globally.

How USDT Works

Technically, USDT operates on top of blockchain technology. Just like other crypto assets, every transaction is recorded permanently and transparently on the network. What sets USDT apart is that every circulating unit is claimed to be backed by equivalent reserve assets held by Tether Limited, keeping its value stable around USD 1. An essential point to understand: USDT does not run on a single blockchain network; rather, it is available across multiple networks simultaneously, including:

ERC-20: Operates on the Ethereum network; widely used but carries relatively high gas fees.
TRC-20: Operates on the TRON network; features low transaction fees and high popularity among Asian exchanges.
BEP-20: Operates on the BNB Smart Chain network; features low transaction fees and fast block confirmation times.

All three share the same name (USDT) and equivalent dollar value, but run on entirely separate blockchain networks that are incompatible with each other. Sending USDT across network types to a wallet address that only supports another network risks losing those funds permanently. This point is explored further in the section below.

Why Does Myfxrebate Use USDT (BEP-20)?

Myfxrebate focuses rebate payouts through the USDT BEP-20 (BNB Smart Chain) network based on several key advantages:

High Transaction Speed

Transactions confirm within seconds to minutes, making payouts drastically faster than international bank transfers.

Extremely Low Fees

Network fees are extremely low (typically < $0.30), significantly cheaper than international wire transfer fees.

24/7 Availability

Operates on an active blockchain network that functions round-the-clock without business-hour or banking holiday limitations.

Value Stability

Pegged 1:1 with the US Dollar (stablecoin), preventing price volatility and keeping rebate estimations precise.

How to Get a USDT Address

To obtain a USDT address, you will need an account with a crypto exchange that supports buying, selling, and withdrawing USDT, or a non-custodial crypto wallet (NCW) such as MetaMask, Trust Wallet, Bitget Wallet, and others. Top global exchanges widely used include Binance, Bybit, and MEXC. The general steps are as follows:

Register

Select Deposit Menu

Go to the Assets or Wallet section, tap Deposit, and select Crypto Deposit.

Select USDT

Search for and select the USDT (Tether) asset.

Select BEP20 Network

Choose the BNB Smart Chain (BEP20) network. Warning: Ensure you select the correct network to prevent loss of funds.

Copy Address

Copy the displayed wallet address and save it in your Myfxrebate Trader Portal to receive your rebate payouts.

Binance Exchange Tutorial MEXC Exchange Tutorial Bybit Exchange Tutorial

This USDT wallet address is what you will register as your payout reception method in the Myfxrebate Trader Portal to receive your automated rebates.

Important Warnings to Keep in Mind!

Blockchain Transactions Are Irreversible

Transfers across blockchain networks cannot be cancelled or reversed once confirmed. Before submitting your USDT wallet address in the Myfxrebate Trader Portal, verify these 3 details:

BEP-20 (BNB Smart Chain) Network Required: Ensure that the wallet address you provide fully supports the BEP-20 network, matching the network utilized by Myfxrebate.

Use Copy-Paste Features: Always copy your wallet address directly from your application or exchange. Do not type it manually to avoid character typos.

Ensure Full Personal Access: Make sure the wallet belongs exclusively to you and that you retain full access to its funds.

Transfer failures caused by incorrect network selections or wrong addresses fall strictly outside our liability.

Already have a USDT (BEP-20) wallet? Use your USDT wallet address as your payout method directly inside your Dashboard after joining Myfxrebate.

Don't have USDT yet?

Register an account on one of the exchanges below to start buying and holding USDT, before withdrawing to your personal wallet on the BEP-20 network.

Register →

Time to Maximize Your Trading Potential 💰

Get Your Rebates