You want to make USDT transaction, check transaction fee across chains

[tranthidung]

• Website: https://gasfeesnow.com/
• Heat map: https://gasfeesnow.com/heatmap/. I don't like this page too much. It seems to have not too good design.
• Historical data table: see at the page bottom

You want to withdraw/ make a transaction with Tether USDT, what are fess now?

• The above website gives you USDT fees across 4 chains
  
  • ETH ERC20
  • Binance Smart Chain BSC
  • TRON TRC20
  • Polygon

Everyone knows ERC20 transfers are expensive, but how exactly expensive, and what is the best alternative? This page was built so I don't need to jump over Metamask Networks to estimate gas fees in different networks for a simple USDT transfer.

What about BUSD and USDC?
Other stablecoins gas fees are very similar across the same blockchains, so you can safely assume that BUSD(BEP20) transfer on BSC blockchain will cost the same as USDT(BEP20) transfer on the same BSC blockchain.

Quick observations
As of Aug 2022, all blockchains except native ETH (Ethereum) are pretty stable in terms of fees during the day. But Ethereum USDT transfer gas fee is very volatile: it fluctuates from 0.5 USD to 7 USD! And Polygon is the cheapest network to transfer USDT.

[1714241190]

1714241190

[1714241190]

1714241190

[1714241190]

1714241190

[1714241190]

1714241190

[libert19]

BSC, Polygon are cheapest, I'd also add Optimism to the list. Honestly, no need to use any site for this, just choose these networks and make your transaction.

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

[Despairo]

Key to notes to users:

1. It's the cost when you transfer your token (USDT) through non custodial wallet, if you use custodial wallet/exchange, the cost will be higher since they charge more.

2. If you currently have USDT ERC20 or USDT TRC20 which has expensive fees to USDT BEP20 or USDT Matic which cheaper, you can swap your token through swap exchange e.g. fixedfloat or bridge your token through non custodial wallet e.g. Safepal.

[Huppercase]

BSC, Polygon are cheapest, I'd also add Optimism to the list. Honestly, no need to use any site for this, just choose these networks and make your transaction.

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

3 days ago, I wanted making USDT transaction on my Tron wallet and I had $2 worth of TRX on my wallet to be used as fees, if it was some months back, I can make more than 3 transaction and have some TRX remaining but it seems that the crazy fees is now accross all the chain but they are preferable to some than will asked for more than half of your funds, I think I will go with matic as an option than the BSC you mention because matic is even more cheaper tha Binance smart chain right now.

I stopped using Ethereum long time ago since Abitrum literally do anything you want in Ethereum chain, just bridge your funds to Abitrum and make sure you finish all your transactions before bridging back to Ethereum, it safe fees and also safe you from transaction failure which will cost you extra. One of my biggest fear of using Ethereum chain is when you make a transaction on Ethereum and it failed, it will be dropped but the fees will be taken which is like stealing, no work was done but they took the fees, for what exactly. It's better to avoid any chain that asked for large fees.

[RapTarX]

if you use custodial wallet/exchange, the cost will be higher since they charge more.

Binance charges a $1 fee for withdrawal of USDT through TRC20; and $8 for ERC20. I guess the on-chain fee for sending both ERC20 & TRC20 tokens is higher, isn't it? That's an advantage LOL although I recommend avoiding CEX.

It's better to avoid any chain that asked for large fees.

Bitcoin on-chain fee has been outrageous for the last few weeks. The fee was quite high. I had to pay more than a $50 fee on a TX; I had many inputs. Nevertheless, would you stop using the Bitcoin chain for that? I believe you wouldn't do that.

[BIT-BENDER]

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

I just recently tried out USDT polygon network and I think it's quite better than USDT Tron network, also it's better if you are the type that sends out a good amount to several wallet you can use USDT polygon to cut your cost.
But my question is USDT polygon does it work only on binance if no what other exchanges accepts the use of USDT polygon.

[dkbit98]

...

This website can be useful but just look at that Tron piece of shit blockhain... it has higher transaction fees than ethereum now and it's so complicated to use for any newbies, with stupid staking, energy, bandwidth, etc.

I wouldn't recommend keeping USDT long term on any chain, but I think people should consider using L-USDT and L-BTC on Liquid network.
Transaction fees are much lower, they can be confidential, and there is 36,561,000.00 L-USDT and over 3,749 L-BTC at the moment:
https://liquid.network/

[libert19]

But my question is USDT polygon does it work only on binance if no what other exchanges accepts the use of USDT polygon.

Polygon is established chain, most exchanges should support it, if I were to list you all these exchanges list will too long, better just check yourself on deposit page of exchanges you use. You can also use instant exchanges.

[hugeblack]

...

This website can be useful but just look at that Tron piece of shit blockhain... it has higher transaction fees than ethereum now and it's so complicated to use for any newbies, with stupid staking, energy, bandwidth, etc.

I wouldn't recommend keeping USDT long term on any chain, but I think people should consider using L-USDT and L-BTC on Liquid network.
Transaction fees are much lower, they can be confidential, and there is 36,561,000.00 L-USDT and over 3,749 L-BTC at the moment:
https://liquid.network/

Polygon network also seems to be cheaper than Ethereum, but it seems that we will move to layer 2/3 applications where these tokens are reasons to use those layers. I preferred DAI as it is a little decentralized and more linked to USDC, which seems less likely to collapse than USDT since Coinbase has better reserves and a safety factor than USDT.

[BitcoinGirl.Club]

It's better to avoid any chain that asked for large fees.

Bitcoin on-chain fee has been outrageous for the last few weeks. The fee was quite high. I had to pay more than a $50 fee on a TX; I had many inputs. Nevertheless, would you stop using the Bitcoin chain for that? I believe you wouldn't do that.

Bitcoin chain is not for small transactions. At least not now. If you are moving large some of money then it's fine to pay $50 to $100 fees but for a $500 transaction, it's better to use other chain. I don't see anytime soon the transaction fees are going down.

I preferred DAI as it is a little decentralized and more linked to USDC, which seems less likely to collapse than USDT since Coinbase has better reserves and a safety factor than USDT.

Isn't USDT is some kind of centralized chain. They can lock an address whenever they want.

[sujonali1819]

I don't remember when I used the ETH network last time for my usage. I normally use the TRON chain for USDT transactions. The website showing TRON fees is bigger than ETH, lol. I thought ETH fees are normally now around 3 USD.

The polygon network is super cheap based on other networks. But its usage is not bigger like TRON.

[tranthidung]

Isn't USDT is some kind of centralized chain. They can lock an address whenever they want.

Yes, not only USDT but other centralized stable coins. Altcoins are centralized and stable coins are something like centralized, more sensitive with regulations and law enforcement requests.

• PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
• Banned addreses
  
  • https://dune.com/phabc/usdt---banned-addresses
  • https://dune.com/phabc/usdc-banned-addresses

I don't remember when I used the ETH network last time for my usage. I normally use the TRON chain for USDT transactions. The website showing TRON fees is bigger than ETH, lol. I thought ETH fees are normally now around 3 USD.

Also, another site for your need and for comparison.

• https://exchangewar.info/
• I only confuse that why they mark stable coins as fiat money

[Text]

Thank you very much for sharing these helpful resources! The gas fee comparison website is a gem, it's convenient to have alternatives for a more comprehensive view. It's just surprising that TRON fees are higher than ETH, which made me chuckle because I've always known ETH USDT transfers to be the most well-known and expensive. It's interesting how fee dynamics can vary across chains.

Stablecoins are often mistaken for fiat money because they are pegged to the US dollar, hence referred to as digital fiat money.

[libert19]

I don't remember when I used the ETH network last time for my usage. I normally use the TRON chain for USDT transactions. The website showing TRON fees is bigger than ETH, lol. I thought ETH fees are normally now around 3 USD.

Tron is expensive than Ethereum these days, unless you are having Tron staked to make free transactions but it requires hefty amount of Tron staked, unfeasible for normal user.

The polygon network is super cheap based on other networks. But its usage is not bigger like TRON.

Probably because almost half circulating Tron is staked, and since Tron transactions are free if you have TRX already staked, it can be of use. Most exchanges supporting TRC20 USDT with low withdrawal fees also plays role in it's popularity.

[Eternad]

The polygon network is super cheap based on other networks. But its usage is not bigger like TRON.

This is true because polygon is just a L2 project same with Optimism, Arbitrum and many more that is just side chain while Tron is an L1 project which means there’s a lot of dapps that contribute to transaction volume.

L2 project is now gaining popularity due to its cheap and fast processing of transactions. I believe they will become more popular on this upcoming bull run since they are starting to have their own popular dapps that is identical to the L1 projects.

[jrrsparkles]

Is the gas fee on ETH less than the Tron network? Last time I checked it was around $2 for the ERC20 transfer but now it decreased which means the ETH2.0 is succeeding.

USDT on other networks has negligible fees but the liquidity is high on Ethereum and Tron compared to other chains so I would better keep USDT in either one of these chains so that when I need to convert I may not face problems.

[dzungmobile]

Stablecoins are often mistaken for fiat money because they are pegged to the US dollar, hence referred to as digital fiat money.

They are different enough to not consider as the same.

Fiat currencies created (printed) by central banks whilst stable coins created (minted) by stable coin companies.
Stable coins must have their stable pegs to fiat currencies and they are more risky than fiat currencies. If peg is lost (depeg), $100 in a stable coin like Terra $UST will become just $0.01 or smaller if you want to cash it out to US dollar.

[tjtonmoy]

I think it is much easier to just hop into your wallet and try to make a transaction to see what the actual gas fee is. You are checking the gas fee because you want to make a transaction. For that you need to go into your wallet anyway, so why not see the gas fee right then and there? And the gas fee frequently changes. No offense but I don't see the need for going to some other website to see the fee.
Maybe it's just me but doing transactions and watching the fee from the wallet is much easier. I could be wrong and people could have different opinion about this. But that's how I like it.

[tranthidung]

I think it is much easier to just hop into your wallet and try to make a transaction to see what the actual gas fee is. You are checking the gas fee because you want to make a transaction. For that you need to go into your wallet anyway, so why not see the gas fee right then and there? And the gas fee frequently changes.

This is true that when you make your transaction, you must to open your device, access your wallet and make a transaction.

The point is, before you do this, you can use those websites to check network status, transaction fee and see that do you actually want to make a transaction at that moment. If transaction fee is too expensive, it's unnecessary to do later steps.

No offense but I don't see the need for going to some other website to see the fee.
Maybe it's just me but doing transactions and watching the fee from the wallet is much easier. I could be wrong and people could have different opinion about this. But that's how I like it.

You are missing a point. The more exposure your wallet has with Internet, the more risk so if you can reduce it, why don't do this?

Prevention is better than cure even you can not have an airgap computer for your wallets.

Binance charges a $1 fee for withdrawal of USDT through TRC20; and $8 for ERC20. I guess the on-chain fee for sending both ERC20 & TRC20 tokens is higher, isn't it? That's an advantage LOL although I recommend avoiding CEX.

Centralized exchanges proceed user withdrawals in batch transaction and they get benefit from processing withdrawals for users. They charge $1 USDT per a USDT withdrawal but if it is a batch transaction, they actually charge like $10 or $20 or even more and you see, who get benefits here.

It will be clearer with withdrawals via big blockchains like Bitcoin.

• Old story. Exchanges get profits from users' withdrawal fees.

[JariKriting]

if look at the transaction fees above, everything is cheap. but if withdraw from the exchanger, the eth fee is really big very expensive. if use the tron network which is also used by many people, the fee on the exchanger is also only 1 dollar. but if eth is really expensive, I can't think of it. even though from the website data above, all fees are cheap.