From USDT to WAXP (and vice versa) in just two clicks!

UPDATE: USDT is no longer available on EOS! You can find a guide similar to this one, which uses USDC instead of USDT, here: https://medium.com/@di0nix/from-waxp-to-usdc-and-from-usdc-to-waxp-835a3cb48d15

The easiest (and cheapest) way to buy WAXP has always been to use an exchange: however, not all exchanges have WAXP among the coins in their list. Well, that’s not a problem anymore: recently Alcor, a DEX (Decentralized Exchange) that operates on all the blockchains of the Antelope coalition has implemented a procedure that allows you to send your USDT from any CEX (Centralized Exchange like Binance, Coinbase, Kraken) to your WAX Wallet, like Cloud Wallet or Anchor or Wombat Wallet! Then, if you want, with another click you can convert your USDT into WAXP or any other token on the WAX blockchain.

Bridge your USDT from any exchange to your WAX wallet, and then convert them to WAXP!

Or maybe you want to do the opposite, i.e. convert your WAXP to USDT and send your USDT to your favorite exchange? No problem, you can do this too in two clicks!

Swap your WAXP to USDT on your WAX wallet, then send it to your favourite exchange!

In the first chapter of this guide we will see how to transfer your USDT from your WAX wallet to an exchange; in the second chapter of this guide we will see how to transfer your USDT from an exchange to your WAX wallet. If you want to learn how to convert your USDT (on the WAX ​​blockchain) to WAXP using Alcor or vice versa, go to the third chapter of this guide!

1) HOW TO SEND YOUR USDT FROM WAX TO AN EXCHANGE

REQUIREMENTS

If you want to send your USDT from the WAX ​​blockchain to your favourite exchange you will need two things:

• some USDT on your WAX blockchain wallet
• an account on an exchange (like Binance)

BEFORE YOU START

Be sure to open the Alcor website, https://alcor.exchange/, and log in with your favorite WAX ​​wallet:

Ok! First of all we will have to ask your exchange which address to send your USDT to and which MEMO to use so that your USDT is credited to your account and not to someone else’s!

• login to your exchange and go to the “DEPOSIT” section. This is Binance, but the structure is very similar on all exchanges:

Before giving you the address and MEMO, the exchange will ask you which cryptocurrency you want to deposit

• in the “Coin” box select “USDT”, in the “Network” box choose “EOS”

Although your USDT are on the WAX ​​blockchain, Alcor will take care of sending them to EOS (also because USDT is not natively present on WAX)!

If this is your first time using EOS, the exchange will create a new address for you (just press the button “Get Address”)

Now the exchange will tell you the address to send your USDT and the MEMO identifying your account

• write down (or copy) this address and this MEMO somewhere because you will need them soon!

• now go to Alcor, click on “Wallet” and press “Withdraw” on your USDT:

This window will open. The orange box repeats what we did in the previous point, i.e. how to get your exchange to tell you the correct data relating to your account. You need to fill the 3 green boxes:

• enter in the “Address” box (1) the address that the exchange gave you and in the “MEMO” box (2) the MEMO that the exchange gave you; in the “Deposit Amount” box (3) choose how many USDT you want to send from your WAX account to your exchange

PLEASE NOTE: Don’t write the same data I used, otherwise you’ll be sending your USDT to me! Only use the data your exchange told you to use in the previous point. Using the wrong data will cause you to lose your USDT!

• when everything is completed, press “Withdraw”

Here we are! It will take Alcor about 3 minutes to send your USDT to the exchange, because first it will have to bridge your USDT from WAX to EOS; the exchange will take a few more minutes to credit you with the transaction, but usually the whole process will take no more than 5–6 minutes!

You will find your USDT on your exchange, ready to be used however you want:

2) HOW TO DEPOSIT YOUR USDT FROM AN EXCHANGE TO YOUR WAX WALLET

REQUIREMENTS

If you want to send your USDT from an exchange to your WAX wallet you will need two things:

• some USDT on an exchange (like Binance)
• an account on the WAX ​​blockchain (to manage your account you can use the wallet you prefer; Cloud Wallet, Anchor and Wombat Wallet are the most popular)

BEFORE YOU START

Be sure to open the Alcor website, https://alcor.exchange/, and log in with your favorite WAX ​​wallet:

Ok! First of all we will have to ask Alcor to tell us what your MEMO is. In fact, we will not send your USDT directly to your WAX wallet, but to an address managed by Alcor: thanks to your MEMO Alcor will then be able to send your USDT to your WAX wallet, after making a bridge from EOS to WAX.

• click on “Wallet” and then press “Deposit” on your USDT:

This window will open. The orange box contains the instructions that we will have to follow in the next step; what you need to take note of are the writings in the two green boxes, “Address” and “MEMO”

• after writing down (or copying) the address and the MEMO, press “Done”

• now go to your exchange page and go to the “Withdraw” section. This is Binance, but all exchanges have a similar screen:

A new window will appear.

• in Box 1, “Address”, enter the address that Alcor gave you; in box 2, “Network”, choose “EOS”; in box 3, “MEMO”, enter the MEMO that Alcor gave you and finally in box 4 write how many USDT you want to send to your WAX wallet!

Done! In a few minutes, usually 4–5, you will see your USDT appear on your WAX wallet:

Note that Binance charged 1 USDT fee to make the transaction!

3) HOW TO SWAP YOUR WAXP TO USDT (ON WAX) AND VICE VERSA

Converting USDT to WAXP (or vice versa) using Alcor is really simple! Basically:

• go to https://alcor.exchange/
• login with your wallet

• go to Wallet

• press one of the two boxes at the bottom right of the page to buy (or sell) USDT with a spot order OR with a swap

• choose the WAXP-USDT pair and make the trade

If you want a more detailed description of how swaps and spot orders work on Alcor you can read this other guide of mine: https://medium.com/@di0nix/alcor-and-decentralized-exchanges-the-simplest-way-to-swap-tokens-on-the-wax-blockchain-1d5ecd5a4722

I hope I have been as clear as possible; If you still have any doubts or questions don’t do things you’re not sure about, come and talk to us first on the Alcor Discord!

Happy bridging

dionix

***Alcor | Alcor Twitter | Alcor Discord***

***Official WAX Discord | WAX Twitter | My Twitter***

***Other guides about WAX***