USD deposits and withdrawals to and from foreign exchanges are often a time-consuming process. On average, they take 1 to 4 business days to complete. If the transaction occurs after banks have closed for the night, weekend, or holiday, wait times may be considerably extended. By contrast, USDSC transactions are completed in seconds. This benefit is significant because digital assets traders often need to rapidly shift funds.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) transfers are very expensive. They cost upwards of $20 in fees and average around $30. Additionally, if you’re using a fiat currency other than those supported by the exchange, the banks will charge an extra foreign exchange conversion fee and percentage on the transfer. By contrast, USDSC charges a standard blockchain network fees which are cents.
Digital Assets are notorious for being volatile, and trading one volatile currency for another creates a great deal of complication and extra risk. That’s why a stable base currency is extremely useful.
Staying on the Sidelines
Frequently, the best position to take in a market is no position at all. Let’s say you feel that a certain digital asset price, which you own, is unsustainably high. Your best move, in this case, would be to cash out, then wait for a dip or crash to buy back in.
Digital Assets built for the internet
Price goods and services in a currency your customers are familiar with.Reduce operating costs and times by bypassing financial institutions.
Secure and manage customer assets purely through crypto-processes, including multi-sig.Settle fiat balances between exchanges much easier and in real-time.
Enhance your cross-exchange and currency arbitrage strategy.Be the custodian of your own funds and eliminate exchange custodial risk.