USDT & BNB
Last updated
Last updated
To participate as an investor in the QuantiFi Fund, you will need to make a deposit using the USDT Stable coin. USDT is a stablecoin, meaning its value is pegged (fixed) to $1 USD. Unlike other tokens which fluctuate in value up and down, USDT is designed to stay pegged at this value regardless of the wider market conditions and can be redeemed for normal US dollars at any time.
Secondly, to use any project on the BNB Chain, you will need a small amount of BNB token. BNB is the enabler / fee token on the BNB Chain, and is used to pay for transactions that happen therein. Compared to Ethereum, the fees on BNB Chain are significantly cheaper, with most transaction fees costing less than one dollar.
We recommend loading your wallet with a minimum of 0.1 BNB. You can always transfer anything you don't use back later.
If you are not currently holding any crypto-assets, the easiest place to buy them is through an exchange like Binance (https://binance.com), Coinbase (https://www.coinbase.com) or whatever is available in your location. From there, you can withdraw BNB and USDT to your wallet (seeSetup Metamask). You can copy you wallet address directly from Metamask (or your preferred wallet), and use this to withdraw the assets from the exchange to your wallet. In Metamask for example, your address is displayed at the top of the window, under the Account Name.
While the exact process to do this will vary slightly depending on the exchange you are using, each will have a guide to step you through this process. For example, here are the withdrawal guides for Binance and CoinBase:
If you only need to purchase a small amount of a crypto asset, these can be purchased directly through Metamask or your preferred crypto wallet. While this is convenient and allows direct purchase with a credit / debit card, it will incur significant fees and isn't recommended for this reason.
Alternatively, if you already have some crypto assets on a different chain (such as Ethereum), you can move these onto the BNB Network through a crypto bridge. For moving assets onto the BNB Chain we recommend Portal Bridge - https://www.portalbridge.com or Anyswap - https://anyswap.exchange/#/bridge
