How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase USDP on BYDFi. We'll guide you through it
Choose how to purchase USDP on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (USDP). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store USDP in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your USDP to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy USDP on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive USDP
Trade
Answers
Is USDP Stablecoin a Good Investment?
The USDP Stablecoin is a versatile crypto asset to invest in and hold, especially when you wish to safeguard against bearish conditions in the crypto market or high volatility. In such times, you can easily convert your crypto holdings into USDP and hold them without worrying about steep losses or exiting the market.
Since the Pax Dollar price remains pegged to the USD, you can also safely invest in it to conduct digital transactions and make payments online. It offers a far more convenient payment method than traditional banking solutions and fiat currency, especially international money transfers.
Remittances and online payments using USDP Stablecoin are faster, cheaper, and more secure thanks to the underlying blockchain technology. Unlike centralized models, where intermediaries take considerable time to process transactions, decentralized transactions on the Ethereum blockchain using the ERC-20 token USDP are quick and easy.
What is USDP Coin Used For?
The USDP Stablecoin has several use cases, including:
Digital Currency
As a digital currency equivalent to the US dollar, USDP Stablecoin can be conveniently used for shopping online or transferring payments digitally. The crypto token is fast, safe, easy, and cheap to transact with.
Safeguard Against Crypto Market Volatility
In times of high uncertainty and volatility in the crypto market, you can sell your crypto assets for stablecoins, such as the USDP. As the USDP is backed 1:1 by US dollars, you never have to worry about making losses even if the crypto market experiences a downturn. Switching to stablecoins such as USDP in your portfolio gives you a safe avenue to park your funds without exiting the market.
Trade Against Other Crypto Assets
You can use USDP as the base currency in crypto trading. For better portfolio control, sell USDP to buy other crypto assets in the market. Always review the real-time price of USDP Stablecoin, USDP market cap, circulating supply, and 24-hour volume before you trade Pax Dollar in the market.
Earn Passive Income
You can buy and hold USDP on several platforms that offer attractive interest rates. This is a safe way to put your crypto to work and generate passive income risk-free and conveniently.
How Does Paxos Maintain the USDP Price?
Paxos maintains the USDP Price at 1 USD through full 1:1 backing by US dollar reserves held by Paxos Trust Company. These reserves are kept in cash and cash equivalents, making USDP fully redeemable for USD anytime.
Holding customers funds in cash and cash equivalents lets Paxos keep their funds wholly safe and easily accessible whenever customers want to redeem their USDP tokens. The company also dynamically adjusts the total supply of USDP based on its dollar reserves to maintain the USDP Stablecoin price at $1.
How to Earn USDP Stablecoin
There are several ways to earn USDP. Here's a look at some of the popular options:
Exchange USD for USDP
Head to a cryptocurrency exchange like BYDFi or open an account with Paxos to exchange your USD or fiat currency for USDP tokens.
Trade USDP Against Other Cryptos
Head to a crypto exchange such as BYDFi to trade other crypto assets for USDP. Sell your existing crypto holdings to buy USDP based on market conditions. If your trade idea is successful, you could also generate profits and earn extra USDP during your trades.
Staking or Lending USDP
USDP token holders can stake or lend their tokens on supported platforms to earn attractive APYs. Perform online research to find the best-suited platforms that support these operations, are reliable, and offer the most lucrative returns to help you earn USDP and grow your holdings.
How to Redeem USDP Stablecoins
Here are some ways you can redeem USDP Stablecoins and exchange them:
Create a Paxos Account
Register for an account on Paxos and redeem your USDP tokens for USD. It is safe, convenient, and quick. You can instantly withdraw your funds after redemption in the form of US dollars.
Use a Crypto Exchange
Head to a trading platform, e.g., BYDFi, to sell your USDP and withdraw your funds in fiat currency. Crypto exchanges offer low trading fees, fast turnaround time, and high security when redeeming USDP.
