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Procuring USDT

Rails requires all deposits to be made in a supported stablecoin. For Rails Exchange accounts, all collateral must be deposited in USDT on a supported blockchain.

Rails handles the conversion path as part of the deposit flow using USDT's omni-chain properties. This means you can fund your account without leaving the platform, even if your USDT starts on another supported network.

What this means in practice

  • Post collateral in USDT when you deposit to Rails.

  • Deposits are converted into the required collateral format during the deposit flow.

  • Only funds that have been successfully deposited are available as trading collateral.

  • Collateral in use for open positions or orders may not be available to withdraw or transfer.

Need help funding your account? See Deposit, Transfer, and Bridge.

Why USDT?

We choose to leverage Tether's USDT token, as USDT is the most widely accepted stablecoin in the world and has a cross-chain transfer service which makes it easy, fast and low cost to bridge other USDT tokens to other supported networks. Additionally, leveraging a single token enables clearer and more transparent tracking and auditing of funds.

Learn more about USDT & USDT0 on Tether's website.

There are a few options to procure USDT:

This is the most common path if you're starting with fiat (or, traditional currency like USD, EUR, etc.):

  1. Create and verify an account on a reputable centralized exchange (for example, Kraken) that supports USDT.

  2. Deposit fiat (bank transfer, card, etc.) and purchase USDT.

  3. Withdraw the USDT to the wallet you'll link & connect to Rails.

  4. Buy and withdraw a small amount of ETH on the same network to cover gas.

  5. Return to Rails and follow the Deposit steps.

When withdrawing from the exchange, double-check the network and wallet address before confirming. Most exchange withdrawals are irreversible.

If you already hold another cryptocurrency (e.g. ETH, BTC, or another stablecoin), you can convert it to USDT instead of buying with fiat.

  • On a centralized exchange: trade your existing asset for USDT, then withdraw on a supported network.

  • In a self-custody wallet: use your supported wallet's built-in swap feature, or a decentralized exchange, to swap to USDT on a supported network. Keep enough of the network's native token (e.g. ETH) to cover swap and transfer gas.

After swapping, you'll still need ETH on the same network for gas before you can deposit.

Many self-custody wallets include a built-in fiat on-ramp that lets you buy USDT with a card or bank transfer and receive it directly in your wallet.

  1. Open the buy/on-ramp feature in your supported wallet.

  2. Select USDT and a supported network.

  3. Complete the purchase. The USDT lands in the wallet you'll link to Rails.

PreviousWallet Connection
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