Want to save on USDT transfers!

Want to save on USDT transfers!

Want to avoid paying high transaction fees while sending USDT? Justin Sun, CEO of BitTorrent and inventor of TRON, posted a Coinmetrics graphic. As of April 2021, the number of USDT tokens passing via the TRON blockchain exceeds that of their registered ERC20 equivalents by around $1 billion. On the TRON blockchain, Tether transactions have exceeded Ethereum transactions. Users of USDT have shifted from Ethereum to TRON because to reduced transaction fees and quicker transaction times. In an interview with Bloomberg, Justin Sun said, “We’re not trying to compete with Ethereum. We’re trying to compete with the fiat currency.” It is now evident that TRON is doing exactly that. The native TRC20 USDT token is seen as a more efficient and cheaper alternative to Ethereum-based USDT.

In contrast to Ethereum’s ERC20 USDT token fee, which is more than 30 USDT or more depending on network congestion, TRC20 USDT token transactions on crypto exchanges cost only 1 or 2 USDT. This is due to the fact that the Ethereum network charges a transaction fee.

TRC20 USDT tokens are fast and cheap; they work the same as ETH on TRON’s blockchain ecosystem, making them interoperable with DApps and decentralized exchanges.

If you have not transferred from ERC20 USDT to TRON’s TRC20 USDT yet, please be sure to do so! In order to save you money when transferring from an exchange or a wallet, TRON is providing these excellent solutions.

The demand for TRON’s TRC20 tokens has grown so much that there are currently more than 70 exchanges offering TRC20 tokens for trading and more than 60 DApps have adopted it as their primary token. All these numbers place TRON at the top of the entire industry in terms of growth and volume.

Transferring ERC20 USDT on TRON’s TRC20 USDT from one exchange to another or from a wallet to a wallet saves you a heck of a cost that you would otherwise have to pay as an ETH transition fee.

Numerous cryptocurrency exchanges, including KuCoin, Binance, Bitfinex, FTX, etc., support USDT TRC20 tokens. However, before we get into this, it is essential to understand the distinction between ERC20 and TRC20 tokens, If you transmit USDT (ERC20) coins to a USDT (TRC20) wallet address or vice versa, your money will be lost permanently. So always make sure you select the correct blockchain/network address.

source: https://www.linkedin.com/pulse/want-save-usdt-transfers-dr-rehan-altaji/

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