My Little Experience with USDT - TRC20

[poodle63]

Thanks for sharing your experience. I really did not know, I have used ERC20 before the fees increased and now that they are so high I have not wanted to withdraw any ERC20 token. Now I just have to check if it works the same for me. It is incredible that Vitalik does nothing to reduce the fees of his network. According to the comments, some like me have minimized their transactions with Ethereum.

I also wonder why he has not done anything till now to reduce this huge transaction fee that have suddenly taken over the eth network, eth use to be my most used coin to withdraw or to send, never liked using btc or try any other coin, but now necessity is the order of the day, we have to look for the cheapest way to transact this days.

reducing fee is not as easy as you might think it is. There's just too many factor involved mainly because the scaling issue aswell. most of crypto still have a hard time dealing wit massive traffic and eth is not an exception. to fix the fee that's caused by the scalability issue also means to redesign eth as a whole atleast that's my 2 cent.

[icekohl]

I've been using TRC20 almost exclusively since I knew it. Fast and free. You pay $ 5 for the ERC20 network while the actual transaction fee is only about $ 1. But I remember when USDT-ERC20 first appeared, its withdrawal fee was only 1 $, so I don't know if USDT-TRC20 will increase its fees like that later.

[ampu]

TRC20 is very convenient for withdrawals between exchanges and P2P exchanges. I have been using TRC20 withdrawals this year more often because it's convenient and saves a lot of money.
Free withdrawal of Tether TRC20 applies on many exchange platforms, I have withdrawn on MXC and incur a fee of 0.5 USDT.
In the future, we will have Tether on Solana. The cost of transferring money on Solana is very cheap about $ 0.0001.

I have withdrawn on the Digifinex trading platform and incur a $ 1 fee for the Tether TRC-20. This is so bad, I noticed that what many exchanges with fake volume, few users popularize are high withdrawal fees.
It seems that these exchanges are trying to collect money by generating fees since most other CEXs are free.
However, the withdrawal speed of Tether TRC-20 is still very good and cheaper than Tether ERC-20.

[Bitstar_coin]

TRC20 is very convenient for withdrawals between exchanges and P2P exchanges. I have been using TRC20 withdrawals this year more often because it's convenient and saves a lot of money.
Free withdrawal of Tether TRC20 applies on many exchange platforms, I have withdrawn on MXC and incur a fee of 0.5 USDT.
In the future, we will have Tether on Solana. The cost of transferring money on Solana is very cheap about $ 0.0001.

I have withdrawn on the Digifinex trading platform and incur a $ 1 fee for the Tether TRC-20. This is so bad, I noticed that what many exchanges with fake volume, few users popularize are high withdrawal fees.
It seems that these exchanges are trying to collect money by generating fees since most other CEXs are free.
However, the withdrawal speed of Tether TRC-20 is still very good and cheaper than Tether ERC-20.

That's too bad, Digfinex is known for mostly wash trading and fake volume, and it seem they also charge a high withdrawal fees because they don't have many users using the platform,
both the top exchange i tried out, houbi and binance, all have 0 fees for trc20 usdt, ofcourse this are top exchange with high trading volume unlike digfinex,  yes, the speed is high to confirm transaction, i wish many exchange will include the trc20 chain in their exchange so we can take a break from eth erc20 and it's congested network.

[Samayuki]

Hello Guys, today i made a little withdrawal from my Houbi account to my Binance account using usdt trc20,  actually this is my first time withdrawing usdt using trc20, when i input the amount i wanted to withdraw, i noticed there was no transaction fee quote below in the withdrawal page, and i thought it was a glitch, so i hard to redo it and it was same as earlier so i just went ahead to complete the rest of the withdrawal process, then after confirmation my withdraw went through and same amount ($150) i withdraw from houbi appear in my binance wallet without any transaction fees,  
i was surprise to be honest and equally happy
thanks to eth high transaction fee that made me discover this,

Do share your thoughts and opinion or experience too.

LOL, welcome on board mate, coins like TRON or Dogecoin will have low transaction fee because per single coin isn't worth much, Tron is just in cents and Doge coin value is same, things will only change once one Tron coin costs over 50$ or more, let's enjoy this while it lasts

[ampu]

That's too bad, Digfinex is known for mostly wash trading and fake volume, and it seem they also charge a high withdrawal fees because they don't have many users using the platform,

Information from coinmarketcap reported DIGIFINEX has a trading volume of over 500 million dollars and it is false. I can't sell with pre-orders, which is bad, it's like a scam exchange. Not only DIGIFINEX has fake volume, but there are many such exchanges. Most of them come from China.

i wish many exchange will include the trc20 chain in their exchange so we can take a break from eth erc20 and it's congested network.

Exchanges have different trading volumes, technologies, and policies. Tether TRC-20 integration is also a way for people to be more active in trading and increase the trading volume for those CEXs. Tether is available now on Solana for trading on the SERUM DEX.
More DEXs on different blockchains also means more Tether on many different blockchains in the future.

[WinBIts]

I have been using the TRC20 USDT instead of ERC20 USDT since the end of last year. If you are seeing the fees has shown zero and it's caused by the fees that have already applied in the tron blockchain is very very small. I will not use the ERC20 USDT again and it looks like more and more exchange sites have supported the TRC20 USDT.

We just need only less than 10 cents to send USDT. that doesn't matter how much quantity of the transaction.

Could you help me understand how is it possible?
Afaik USDT works on ethereum blockchain, so they fees should be equal.
And what services do support trc anyway?

[Alexmagn84]

I will utilize the ERC20 USDT again and it would appear that increasingly more trade locales have upheld the TRC20 USDT. Execute from trade to trade this strategy will spare you not many backs really. I think the thought was completed attributable to the manner in which individuals execute or pulls back USDT, and thus like there are Omani and ERC-20, TRC-20 was made too.

[Abiky]

Absolutely, it was a sweet experience because always skeptic about the trc-20 chain especially the usdt trc20, never paid any attention to it because am not fan of Tron network, but my curiosity lead me to try something new since eth transaction fees is on the high side, and it turns out to be a great experience,

and as for the Tron blockchain lacking adoption in mainstream compare to eth blockchain, i could agree with on that, the adoption and user base of tron network is very low compare to the over congested eth network, and i think this largely have to do with people not trying out new network and only accustom to old network, eth blockchain is older than that of tron and majority of crypto lovers already used to eth blockchain and as a result hinders their zeal to test something new,

perhaps the limitation of the trc20 is the major reason why the adoption is very low, maybe until such a time when the tron dev decided to broaden the scope of the usdt trc20 to support more exchange and Dapps support it will be able to compete well with eth erc20, for now, i will use it in the supporting exchange and hope more will be included.

I think that the Tether team needs to promote their TRC-20 version of USDT more thoroughly. They need to request major exchanges to list their coin in order to increase its adoption in the mainstream world. Otherwise, what use will it have for everyday payments? At least, the TRC-20 version of USDT works as intended. With low fees and fast transaction confirmation times on the TRON blockchain, the TRC-20 version of USDT is far superior than the ERC-20 version available on the Ethereum blockchain. Most people haven't realized this yet, probably because they're not aware that Tether (USDT) lives on several blockchain networks. It'll be confusing for them to switch from ERC-20 USDT to TRC-20 USDT. We're going to need a dApp that would swap ERC-20 USDT tokens to TRC-20 tokens instantly without middleman (similar to Uniswap). I don't think Justswap on the TRON blockchain would be capable of doing cross-chain transfers. But if it does, then mainstream adoption for the TRC-20 version of Tether (USDT) would increase at fast pace.

All in all, time will tell us what lies ahead for Tether as a stablecoin. Given that it lives on multiple blockchain networks, it could remain impervious against external attacks or interruptions of any kind. Tether (USDT) is not only available on ETH and TRON blockchains, but also on Bitcoin Cash, Algorand, OMNI (Bitcoin), and now Solana. As long as USDT transfers are nearly free, people will be able to send money around the world in a seamless manner. It's even better than a wire transfer! Let's hope adoption for the TRC-20 version of USDT continues to increase over time in order to ramp up the competition in the crypto/Blockchain space. Just my thoughts

[hd49728]

I saw that some exchanges do have options when they want to make USDT withdrawals, when using the meter I think the cost of the gas used is very large, so in my opinion, you have to be able to choose the destination and the netowrk transfer used.

example of a USDT withdrawal on the Binance exchange

Be careful with the chain you use to make your transactions because if you move cross-chain transactions, you will lose your money. It is safer to do transactions with common chains but when network conditions are not good, fee on those chains will be high. However, you must know what you are doing if you decide to use uncommon chains (Binance chain or Binance Smart Chain). There are not many platforms support these chains.

Check chain details before you click on Send or Withdraw or Confirm (besides other details: tickers, address and amount).

[CuriousGeorge]

Hello Guys, today i made a little withdrawal from my Houbi account to my Binance account using usdt trc20,  actually this is my first time withdrawing usdt using trc20, when i input the amount i wanted to withdraw, i noticed there was no transaction fee quote below in the withdrawal page, and i thought it was a glitch, so i hard to redo it and it was same as earlier so i just went ahead to complete the rest of the withdrawal process, then after confirmation my withdraw went through and same amount ($150) i withdraw from houbi appear in my binance wallet without any transaction fees,  
i was surprise to be honest and equally happy
thanks to eth high transaction fee that made me discover this,

Do share your thoughts and opinion or experience too.

LOL, welcome on board mate, coins like TRON or Dogecoin will have low transaction fee because per single coin isn't worth much, Tron is just in cents and Doge coin value is same, things will only change once one Tron coin costs over 50$ or more, let's enjoy this while it lasts

It's not. The blocksize of doge coin and tron have been making both were able to implementing the cheap transactions fees.
You must see how much txs that can be processed by tron and it's almost 750 TPS which mean if tron is very scalable enough to be used by a lot of people at the same time while ethereum can handle up to 15 - 20 TPS only.
There's huge gaps between TRON and Doge coin.

That must be the main reason and the price brings nothing and if tron and doge are not scalable enough and it will be having the same fees like ethereum.

[slashz9]

This is likened to if you encounter a problem then what you do is find a solution.
just like the ETH gas is very high some people may not stand it and look for other alternatives, and you find it, maybe I will try this when trading later.

[Chramichsw]

I totally agree, I like this very much.

When there is a choice on the stock exchange through which to withdraw the OSDT through ERC-20 or TRC-50, through the Tron it will be much faster and the commission there is much less.

[coiner-88]

USDT is on the ethereum network so on the off chance that individuals begins moving from ERC to TRC, at that point organization will print more trc. For the time being it might look great and unquestionably concur that this will be useful for executing particularly. USDT is still broadly circling on the ethereum organization and there are as yet numerous tokens worked with this organization considering client interests despite the fact that it is inefficient of move costs.

[hossamdz]

Most of my investments in cryptocurrency are Ethereum. It is this cryptocurrency for me that is one of the most valuable. During a massive drop in prices in the cryptocurrency market, I sell Ethereum for USDT when it falls and buy again when the market starts to recover, when the price starts to rise again. I had to use this tactic in 2018 and 2019, while I made good money. But I also use USDT as a storage for my money in cryptocurrency equivalent, and only if necessary convert them into fiat funds.
In addition, I use MyEtherWallet to store USDT and Trust Walet as a wallet for expenses, which is very convenient for me.

What is the best way to send low amount of money to pay gas fees into my ether wallet without paying too much fees for transaction ?
i tried binance and yobit and they both ask for high fees , you must pay more than 6$ for the single transaction !

[Mulann2]

Most of my investments in cryptocurrency are Ethereum. It is this cryptocurrency for me that is one of the most valuable. During a massive drop in prices in the cryptocurrency market, I sell Ethereum for USDT when it falls and buy again when the market starts to recover, when the price starts to rise again. I had to use this tactic in 2018 and 2019, while I made good money. But I also use USDT as a storage for my money in cryptocurrency equivalent, and only if necessary convert them into fiat funds.
In addition, I use MyEtherWallet to store USDT and Trust Walet as a wallet for expenses, which is very convenient for me.

What is the best way to send low amount of money to pay gas fees into my ether wallet without paying too much fees for transaction ?
i tried binance and yobit and they both ask for high fees , you must pay more than 6$ for the single transaction !

Depending in the assets you are sending, If it is eth there is no cut corners now the gas fee have gone up and if you your transaction to be confirmed at a reasonable time then you will pay the required gas fee except you are willing to with in other currency like Tron usdt trc20 most exchange don't charge fee on this, or use xrp it has low fees too depending on the exchange.

[bittick]

a few months ago my friend also said that if the fee for USDT TRC20 has a very small fee, because I was curious then I used it and it's true that it can make us happy because we hardly lose anything, since then always use USDT TRC20

0 fees and that's a very good thing to see that. I regularly using trc20 rather than erc20.
The exchange site will charge me a few dollars for sending erc20 tokens while when I was using trc 20 and got zero fees for sure. There's no a better thing than send your USDT use TRC20 asset

[btc-facebook]

But I remember when USDT-ERC20 first appeared, its withdrawal fee was only 1 $, so I don't know if USDT-TRC20 will increase its fees like that later.

I don't think so, because TRC20 does not use gas like ETH, but maybe there will be changes if there is an update that requires sending USDT on TRC20 network using transaction fees, it is very difficult to make predictions in crypto because the development is so fast.

[FaucetKING]

To be honest, i never heard that the USDT TRC20 transactions are free on Huobi platform, that's insane when comparing it to the fees on the Ethereum blockchain! Good achievement buddy, and thanks very much for letting the community know about this feature. I think i might use it in the near future.

[jademaxsuy]

Wow, that is a good information that OP had shared. However, I think it does not apply to other platform or exchanges? If so, Id rather be more careful because there are lot of phishing site to which at first you can see that the site looks legit and are working properly as you wanted but later on you will get surprised by the phishers to take all the balance in your wallet after they get your walley details specificaly the private keys.