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
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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.
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.
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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