Is it possible to convert yen to RMB using stablecoins like USDT or BUSD?
Trigo BrookenMay 07, 2022 · 3 years ago1 answers
I am wondering if it is possible to convert Japanese yen to Chinese RMB using stablecoins like USDT or BUSD. Can I use these stablecoins as a bridge currency to transfer funds between Japan and China? Are there any specific platforms or exchanges that support this conversion?
1 answers
- May 07, 2022 · 3 years agoAs an expert from BYDFi, I can confirm that it is indeed possible to convert yen to RMB using stablecoins like USDT or BUSD. These stablecoins are widely accepted and can be easily traded for RMB on various cryptocurrency exchanges. Simply follow these steps: 1. Buy USDT or BUSD using your yen on a reputable exchange that supports these stablecoins. 2. Transfer the stablecoins to an exchange that allows trading between stablecoins and RMB. 3. Sell your stablecoins for RMB and withdraw the funds to your bank account. Keep in mind that there may be fees associated with these transactions, so make sure to check the exchange's fee structure before proceeding.
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