Usdt and Usdc on Nano Ledger S

[jerry0]

I will need to withdraw from binance exchange soon as i have some altcoin there and some tiny amount of bnb and btc.



If i were to trade my altcoin and btc and bnb for a stablecoin such as usdt or usdc on binance and withdraw it to my nano ledger s



I read that you can store Usdt and Usdc in nano ledger.  But there is only one network that it is on and that is ETH... is that correct?  Thus I read the withdraw fees on binance if withdrawing usdt/usdc is 25 dollars if its on the ETH network... which the nano ledger s on?  



Someone mention if you withdraw usdt/usdc on the Tron/BSC network, the fees are minimal, i see its literally ten cents or 20 cents?



But you can't have the option to choose the tron or bsc network right if you are using a nano ledger?



Also I see if I were to withdraw BNB on binance, it gives option of BNB network or BSC network.  Which network is the nano ledger on?

[Charles-Tim]

I read that you can store Usdt and Usdc in nano ledger.  But there is only one network that it is on and that is ETH... is that correct?  Thus I read the withdraw fees on binance if withdrawing usdt/usdc is 25 dollars if its on the ETH network... which the nano ledger s on? 

Yes, but the ERC20 tokens withdrawal fee on Binance is very high, while Tron blockchain support USDT (I do not know of USDC) which can be withdrawn with low fee.

To learn how to deposit USDT (TRC20) on Ledger Nano, you use this guide:

Manage TRC10 and TRC20 tokens

Someone mention if you withdraw usdt/usdc on the Tron/BSC network, the fees are minimal, i see its literally ten cents or 20 cents?

The USDT (TRC20) withdrawal fee on Binance is 1USDT while that of USDT (ERC20) is $25.

Also I see if I were to withdraw BNB on binance, it gives option of BNB network or BSC network.  Which network is the nano ledger on?

The BSC (BEP20) is of low fee. Ledger support (BSC) BEP20

Set up a Binance Smart Chain (BSC) account in Ledger Live

[Pmalek]

I read that you can store Usdt and Usdc in nano ledger.  But there is only one network that it is on and that is ETH... is that correct?

No, you can store USDT as a TRC20 token on the Tron blockchain as well. I have kept that asset together with Tron on my Nano S, it works just fine. You just have to install the Tron app and have some TRX in that same account as well. If you don't have any Tron, I think Ledger Live won't display any of the TRC20 tokens in its portfolio until you do.

But you can't have the option to choose the tron or bsc network right if you are using a nano ledger?

Like I said above, you can use the Tron blockchain for your USDT. Just ensure you select the appropriate network when you withdraw from Binance.

Instead of using a centralized stablecoin like USDT which can be frozen and become unavailable to you no matter where you store it, consider switching to DAI (decentralized). Read the following thread if you are interested in the topic:
Most Stablecoins Can Be Frozen, Even in Your Own Wallets

But you should know that Binance's withdrawal fee for DAI is also relatively high and is currently set at $15.

[dkbit98]

Not counting the fact that he asked so many question in just few minutes today, that is impossible to do unless you are using some kind of copy paste spamming machine bot.
This question is spinning text from reddit, that could also be one of his accounts, because he is using same reversed phrase nano ledger s, maybe done with translation from Chinese language:

I read you can store usdc and usdt on nano ledger. But is it only on the ETH network? I am considering trading for usdc or usdt on binance and then withdrawing it to my nano ledger. I see the fees to do this on binance is high if its on the ETH network. But if its on binance on tron network, its very cheap. But could I use that network on nano ledger? I read its possible?


However, would there be an issue sending these coins to coinbase or gemini since these two exchanges only seem to support ETH for usdc/usdt?

https://www.reddit.com/r/ledgerwallet/comments/pwbmsw/usdc_and_usdt_on_nano_ledger/

I read that you can store Usdt and Usdc in nano ledger. But there is only one network that it is on and that is ETH... is that correct?  Thus I read the withdraw fees on binance if withdrawing usdt/usdc is 25 dollars if its on the ETH network... which the nano ledger s on?  

Time of all his posts made today, and please check out their text content:

2021-09-27 04:31:37 UTC
2021-09-27 04:33:42 UTC
2021-09-27 04:51:37 UTC
2021-09-27 04:52:09 UTC
2021-09-27 04:53:03 UTC
2021-09-27 04:55:30 UTC
2021-09-27 04:59:05 UTC
2021-09-27 05:29:51 UTC
2021-09-27 05:36:39 UTC
2021-09-27 05:39:22 UTC
2021-09-27 05:40:36 UTC
2021-09-27 05:42:06 UTC
2021-09-27 05:44:37 UTC
2021-09-27 05:47:16 UTC
2021-09-27 05:49:21 UTC
2021-09-27 05:50:17 UTC
2021-09-27 05:57:44 UTC
2021-09-27 06:01:18 UTC
2021-09-27 06:05:57 UTC
2021-09-27 06:33:13 UTC
2021-09-27 06:34:36 UTC
2021-09-27 06:36:28 UTC
https://ninjastic.space/search?author=jerry0

[jerry0]

Okay yes so the fee to withdraw usdt/usdc is very high if using the ETH chain on binance.


The thing is I don't have any ETH or Tron though.  So would you even suggest withdrawing usdt/usdc then to nano ledger then?  I am confused why usdt/usdc uses ETH or binance chain or smartchain or tron for fees.  Why not pay via usdt/usdc?



The other issue is this.  If i withdraw usdt/usdc via tron network... then i have it in my nano ledger.  Isn't a big issue me not being to trade that usdt/usdc if i only have access to two exchanges which is coinbase/gemini?  Reason i say this is because due to my location...  I could only use coinbase/gemini.  So wouldn't that mean i am stuck with a coin that i can't sell?  For example i have other altcoins that i cant sell due to being country restricted to a certain exchange.  What happens then?


So to make it simple, just withdraw it via ETH chain for usdt/usdc and pay the fee or just convert everything to btc and withdraw?


That way no issues later on? 

[Charles-Tim]

Not counting the fact that he asked so many question in just few minutes today, that is impossible to do unless you are using some kind of copy paste spamming machine bot.

The issue of jerry0 has been brought up before, he/she did not join any campaign but just like asking questions and questions often. There are times he is very busy on this forum asking question I think he may even know the answers already. Also having 24 posts within a day like today can make someone think about what you commented about him/her.

The thing is I don't have any ETH or Tron though.  So would you even suggest withdrawing usdt/usdc then to nano ledger then?  I am confused why usdt/usdc uses ETH or binance chain or smartchain or tron for fees.  Why not pay via usdt/usdc?

The fee will be taken from ethereum or Tron depending on the blockchain, this is because you make use of noncustododial wallet which is the best to have full control. But on exchanges, the fee will be deducted on the USDT itself.

The other issue is this.  If i withdraw usdt/usdc via tron network... then i have it in my nano ledger.  Isn't a big issue me not being to trade that usdt/usdc if i only have access to two exchanges which is coinbase/gemini?  Reason i say this is because due to my location...  I could only use coinbase/gemini.  So wouldn't that mean i am stuck with a coin that i can't sell?  For example i have other altcoins that i cant sell due to being country restricted to a certain exchange.  What happens then?

Noncustododial wallet is for having full control. To have privacy, bitcoin can be easier than using altcoins. Make sure you send at least $1
or more worth of Tron to be able to withdraw the USDT on noncustododial wallets generally.

So to make it simple, just withdraw it via ETH chain for usdt/usdc and pay the fee or just convert everything to btc and withdraw?

Bitcoin transaction fee on exchanges is high, and it will be the best to have your coins on noncustododial wallet.

This is my last post here.

[jerry0]

Well the reason why i ask this is because im in a strange situation.  I have funds in binance that I need to withdraw.



I have roughly 2000 dollars worth of altcoin and about 8 dollars worth of btc and 5 dollars worth of bnb.



Okay so from the best option to worst option would it be like this in terms of withdrawing?





Sell altcoin for btc.  Sell 5 dollar worth of bnb for btc.  Then just withdraw the entire btc to my nano ledger?  Pay the fee of 0.0005 btc = 22 dollars


Sell altcoin for usdt/usdc via Binance Chain/Tron Chain.  Sell the tiny amount of bnb and btc for usdt/usdc.  Then withdraw it to nano ledger using Binance/Tron network?  Pay Fee of = 1 dollar max


Sell altcoin for btc.  Sell all the btc for bnb and withdraw Bnb.  Fee = < 1 dollar


Keep the altcoin and withdraw altcoin to nano ledger.  Sell the btc for bnb.  Then withdraw entire bnb to nano ledger?


Sell altcoin for usdt/usdc via ETH chain.  Sell the tiny amount of bnb and btc for usdt/usdc.  Then withdraw it to nano ledger using ETH Chain?  Pay the fee =25 dollars




The thing about my situation is I don't really want to sell the altcoin that i have.  Its an ETH coin.  But since people say if i keep it and send it to my nano ledger... well im going to pay around 25 dollars the next time i want to move it to an exchange.  Is that accurate?  But my other concern is many of the exchanges I could trade this altcoin... im country restricted.  So wouldn't this be another reason to not with this altcoin?



People also mention in another thread about just trading it all for BNB.  Well the first thing is BNB isn't stable like btc.  I mean... i rather have btc than bnb.  The other thing is where can I even sell bnb if im a us citizen but in a restricted state?  I cannot use Binance.com... nor binance.us due to the state where im from.  So would this be another reason to not hold BNB?   Or is this not an issue for people?  Like imagine you cannot sell a coin because the exchanges that allow you to trade it... you are country restricted.  What do you do then?



I mean i rather have usdt/usdc but then i read you pay high fees if you use ETH chain which is the most popular chain.  But if i use binance chain or tron chain... isn't my issue... well how can i sell it in the future if im limited to coinbase and gemini only?  And those exchanges... they have usdt/usdc but its only on the ETH chain.



So based on that... best to just convert altcoin and tiny amount of bnb to btc?



Someone posted above to just withdraw usdt/usdc via Binance Chain/Tron Chain as oppose to ETH chain since you save a lot on withdraw costs.  But would I have issue selling the usdt/usdc in the future though since its Binance/Tron network and the only exchange I could use would be coinbase/gemini?

[Maus0728]

Hey! Your posts keeps on appearing on every board of this forum and I thinks that's a bad practice

Again! Just to make things simple, if you want to spend a tiny amount of transaction fee -- use the Binance Smart Chain (BEP-20) in transferring your asset from Binance to your Ledger Nano.

But if you want to keep yourself from headache from worrying on where to sell your altcoins in the future, then it is best to convert all of them to BTC and pay a hefty 25 USD fee.

[jerry0]

Hey! Your posts keeps on appearing on every board of this forum and I thinks that's a bad practice

Again! Just to make things simple, if you want to spend a tiny amount of transaction fee -- use the Binance Smart Chain (BEP-20) in transferring your asset from Binance to your Ledger Nano.

But if you want to keep yourself from headache from worrying on where to sell your altcoins in the future, then it is best to convert all of them to BTC and pay a hefty 25 USD fee.

Yea i know just converting the coins in the exchange to btc and withdrawing it to the nano ledger would be most simple but you pay that hefty fee.


But if i withdraw usdt/usdc via Binance Smart Chain or Tron Chain... i know the fee would be little.  But I should have no issue selling that usdt/usdc in the future though if my only option to trade is coinbase/gemini due to my citizenship and country location?  Some people in another thread mention you could use peer to peer.  So that would work but they charge much higher?


Example if wanting to convert 2000 usdt/usdc that is on the Binance Smart Chain etc to btc or fiat?


Also could you store BUSD in nano ledger?


Someone said i could withdraw from exchange with that... and pay lesser fees and there wouldn't be fluctuations like with BNB

[jerry0]

Can someone tell me if i could store BUSD in the nano ledger?


I'm considering selling my altcoin and the tiny amount of bnb and btc i have there all for BUSD.  Then withdraw BUSD since the withdraw fee is little.  But when i get the BUSD in my nano ledger... the next time i want to send it to an exchange or to someone... is it true i have to pay a 25 USD fee because I read BUSD is an ETH coin?


If there is that ETH fee... then i guess it would be similar to withdrawing that altcoin as well since someone said sending it will cost ETH fees.

[bitmover]

Can someone tell me if i could store BUSD in the nano ledger?

Yes you can. I sent a few busd from my binance account to my ledger nano recently.

I'm considering selling my altcoin and the tiny amount of bnb and btc i have there all for BUSD.  Then withdraw BUSD since the withdraw fee is little.  But when i get the BUSD in my nano ledger... the next time i want to send it to an exchange or to someone... is it true i have to pay a 25 USD fee because I read BUSD is an ETH coin?

No. You can use bsc (binance smart chain) network. All transactions are nearly free in bsc because it is a centralized network.



Just follow this guide to use bsc in ledger nano. Then add busd contract address to add the token

https://support.ledger.com/hc/en-us/articles/4404324652177-Set-up-a-Binance-Smart-Chain-BSC-account-in-Ledger-Live-

Creating a Binance Smart Chain account in Ledger Live Open the Ledger Live app.

Connect and unlock your Ledger device.
Navigate to the Accounts tab, click the Add account button, select Binance Smart Chain, and click Continue.
  Once a BSC account is added, navigate to the Receive tab, select your BSC account and click Continue.
 Ledger Live and your Ledger device will display your Binance smart Chain address.
 Verify this address on your device and click Confirm.
This address can be used to deposit BNB or BEP20 tokens.

[Pmalek]

It's impossible to keep track of your numerous questions, doubts, and whatnot.

Bookmark this site > https://www.ledger.com/supported-crypto-assets
It allows you to enter any assets you are interested in checking. Type in 'BUSD' and read what it says. In short, yes, it can be stored on your Nano S.

You don't seem to understand the difference between mining/network fees and withdrawal fees on centralized exchanges. If Binance takes a 25 BUSD fee for withdrawing that asset, that includes both their profit and mining fees. Most of it is their profit though. When you send coins and tokens from your Nano S, you select the fees you are willing to pay. So there is no 25 BUSD that goes to Binance. You just pay the mining fees depending on what they are at that moment in time.

No one can tell you what your best course of action is in regards to what you should withdraw. It depends on what you want to hold. If you want to hold Bitcoin, convert everything to Bitcoin, withdraw it, and pay the fees. The same goes for USDT, BUSD, BNB, or any other assets.

Make sure you take a look at Binance's trading limits. You can't trade any little amount, there is a minimum limit for each trade. Read about it on https://www.binance.com/en/trade-rule. Small amount that can't be traded can be converted to BNB if I remembered it correctly. 

[jerry0]

Thanks guys for that response.


One other thing.  I could store powerledger in nano ledger s right?  I check online and it seem this is done with ETH app?  So there isn't a powerledger app in nano ledger?  Because when i was checking the apps to install on the nano ledger, i didn't see powerledger app.


But does it need to be used with myetherwallet.com though?  I remember years ago someone said you did... which is why i decided to just leave my powerledger in exchange instead of keeping it in my own wallet.

[Lucius]

One other thing.  I could store powerledger in nano ledger s right?  I check online and it seem this is done with ETH app?  So there isn't a powerledger app in the nano ledger?  Because when i was checking the apps to install on the nano ledger, i didn't see powerledger app.

One would think that a miracle would happen and that you would finally learn something, but you keep asking questions that have been answered. Instead of me or anyone else answering you again, read the old answers and refrain from asking the same questions over and over again.

Nano Ledger S Supported Coins Question
Nano Ledger S, How Many Wallets Can I Install At Once and Compatibility?
Nano Ledger S USD Value Incorrect?
How to transfer altcoins to Nano Ledger S Wallet?

I only listed topics from this board in which you mentioned, among other things powerledger.

[HCP]

One other thing.  I could store powerledger in nano ledger s right?  I check online and it seem this is done with ETH app?  So there isn't a powerledger app in nano ledger?  Because when i was checking the apps to install on the nano ledger, i didn't see powerledger app.

But does it need to be used with myetherwallet.com though?  I remember years ago someone said you did... which is why i decided to just leave my powerledger in exchange instead of keeping it in my own wallet.

PowerLedger is an ERC-20 token (POWR)... so there is no "app" for it on the Ledger Nano. You simply use MEW or MyCrypto in conjuction with the ETH app on your Ledger Nano.

You will likely need to use the "add custom token" functionality in MEW/MyCrypto and the PowerLedger contract address: 0x595832f8fc6bf59c85c527fec3740a1b7a361269

to be able to "see" and transact your POWR tokens in MEW/MyCrypto (in addition to have ETH available to pay gas fees etc)

[bitmover]

PowerLedger is an ERC-20 token (POWR)... so there is no "app" for it on the Ledger Nano. You simply use MEW or MyCrypto in conjuction with the ETH app on your Ledger Nano.

You will likely need to use the "add custom token" functionality in MEW/MyCrypto and the PowerLedger contract address: 0x595832f8fc6bf59c85c527fec3740a1b7a361269

to be able to "see" and transact your POWR tokens in MEW/MyCrypto (in addition to have ETH available to pay gas fees etc)

Now it is even easier. You don't need to use a third party app (such as MEW or MyCrypto).

Ledger Live now has full support to ERC-20 tokens:
https://support.ledger.com/hc/en-us/articles/4404389645329-Manage-ERC20-tokens?docs=true


So OP just need to go to Ethereum Account page  and click on "Show tokens"

[Pmalek]

Ledger Live now has full support to ERC-20 tokens:
https://support.ledger.com/hc/en-us/articles/4404389645329-Manage-ERC20-tokens?docs=true

Ledger Live still doesn't support all ERC20 tokens, but they support plenty of them. I guess anything that isn't a total shitcoin is supported. Luckily for OP, PowerLedger is one of the supported ones. However, for those that are still not supported, a different wallet such as MEW or MyCrypto will still be required for access.