On 12 August 2020, we updated the way we support Stablecoins; All Coinhako Singapore users can fund their accounts with US Dollars (USD) simply by sending USDT or USDC to the address in their Coinhako account.
This article covers the following:
- How it works
- How to deposit USD into Coinhako
- How to withdraw USD from Coinhako
- USD Stablecoins to USD conversion rate
Here’s how it works
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Here’s how to deposit USD into Coinhako
You can fund your account in USD by sending USDT/USDC stablecoins to the USDT/USDC wallet address provided on the Deposit page.
All USDT/USDC supported stablecoins sent to a Coinhako Wallet address will be converted to US Dollars at real-time market rates.
Here’s how to withdraw USD from Coinhako
Users who wish to make a USD withdrawal may do so by sending their funds out as a USD Stablecoin of their choice (USDT/USDC).
This will be done by sending the USD to an external stablecoin address, which will be converted to the respective Stablecoin at real-time market rates.
Once the transaction is complete, you will receive the details of your withdrawal, as pictured above.
USD Stablecoins to USD conversion rate
All USD Stablecoins are converted at real-time market rates before being credited as USD on your Coinhako account.
**Please note that while USD Stablecoins should be convertible at a 1:1 rate, it is subjected to market fluctuations and could have variations.**
Prior to completing any USD deposit or withdrawals, you will be directed to a page which will display the estimated conversion rate for the transaction, and for your confirmation.
Visit here for more information about Stablecoins on Coinhako
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