Topic: My Little Experience with USDT - TRC20 (Read 974 times)

This is actually right that the fees on ETH are insane and a lot of people have shifted to TRON and other networks to save the fees. As a gambler who often bets and makes small transfers, I have always given higher priority to Tron as compared to other coins because not only it is fast and cheap but the price for TRON has only increased since I started using it. Earlier when I first used it, I remember the price was around 3 cents and now it's always above 10-11 cents so I am happy both ways, it's cheap and fast plus whatever tron I hold are only going to bring my portfolio up.

The same purpose earlier when making small transactions was fulfilled by doge coins but they had neither the value nor the speed as 6 confirmations took some time. Now with the doge being pumped it obviously makes no sense to use dogecoins for small transactions. People are shifting to the TRON and it means the price will only get higher in the future.

great thread, myetherwallet supports trx but anyone know how to transfer trc20 to myetherwallet ?  is that still possible or that ended when trc20 went to mainchain ?

It's quite impossible for the new coins to provide the zero fees for the users, When it was using the blockchain and there are lots of validators and these validators will need the money too. Tron was also using the POS consensus.
You didn't actually need the zero fees but when you can get 1 cents as the fees and that's more than enough for you.
that's a very small fees though

thanks for this kind informations, because all this time when i want to withdraw my crypto to my local exchange, i use doge and now if this informations was right, i will use USDT but in TRC20 not ERC20

With this method I send USDT to my ether wallet. Thanks to TRC20 chain I don't need to pay transaction fee. WE pay for swapping coins already because of high gas price, at least this is a good thing that we can use. If you want to send USDT to your MEW or Metamask etc you can use this method guys.

I'm sorry to tell you that you didn't notice properly. Because I'm using TRC-20 USDT to withdraw from kucoin exchange, the withdraw fee is zero but the cost is 0.02 USDT. I'm very happy with transaction speed, instant receive my USDT. But now so many exchanges don't support this feature.

Agree. High fees are definitely not a cost-effective solution for sending money across borders. To fully enjoy a stablecoin's benefits, the underlying blockchain network needs to have the lowest fees possible. It seems to me that the TRON blockchain is a true winner in this regard. The TRC-20 version of USDT is ten times better than the ERC-20 counterpart, as fees are nearly free while transactions settle almost instantly on the Blockchain. It's a pity that most exchanges are still supporting the ERC-20 version, when fees are extremely high on the ETH blockchain. People would've enjoyed using the TRC-20 version of USDT on a daily basis if more exchanges supported it. At least, Binance supports the new USDT stablecoin on the TRX blockchain. It's the world's most popular crypto exchange, giving the TRC-20 version of USDT a decent level of liquidity on the market. With enough interest/demand, other exchanges could join the game.

Nonetheless, I have to say that the experience with the TRC-20 version of USDT is beyond compare. Since fees are nearly free and transactions settle almost instantaneously on the TRX blockchain, its use cases for the mainstream world can be expanded. You can exchange the TRC-20 version of USDT on JustSwap to another token at a much cheaper rate than UniSwap. This is a game-changer as it makes "De-Fi" practical again. While ETH is still the most popular smart contract platform in the world, the low fees and fast transaction confirmation times of TRON will certainly bring some attention by people in the mainstream world. It shouldn't be long enough before new and exciting projects join the game, making TRX as good as ETH. Just my thoughts

The transaction fees on Ethereum will kill the chain because paying $10 or more for every transaction is just not sustainable, I used Uniswap today and the transaction fee was $9 for what. I think it is time all these developers start thinking out of the box and now be lazy with this scaling solutions, many solutions are out there but people are not just using them, look at the success Perpetual team recorded by using XDai chain, you trade there without paying any transaction fee because is too negligible and the team decide to pay it for traders

I was as surprised as you when I saw that USDT TRC20 could be transacted without any fee. I used to do USDT ERC20 transactions before. But I don't' use anymore, now. I would also recommend that everyone uses USDT TRC20 instead of USDT ERC20. Thank you so much for sharing this good news with everyone.

The experience with the TRC20 version of USDT is beyond compare. But as you've said before, not all exchanges provide free withdrawal fees. On top of that, the TRC20 version of USDT is not as popular as the ERC20 version on the ETH blockchain. This explains why the TRC20 version of USDT is listed on a select few crypto exchanges. If everybody knew the benefits of TRC20 USDT on top of the ERC20 one, we would've seen more exchanges joining the game. At least, everything works as intended. Interacting with TRC20 USDT transactions is better as everything is faster and cheaper than the ETH version. That's largely because the TRON blockchain has better transaction capacity than Ethereum. Fees on the TRON blockchain are free if you're holding "Energy" on your account (by freezing TRX). This will allow you to send TRC20 USDT without "breaking the bank". It's like sending money across borders for free.

Nonetheless, there's no doubt that the TRC20 version of USDT is far superior than its ETH counterpart. But the lack of mainstream adoption is what kills it. People will use the ERC20 version of USDT the most, as it's widely adopted by many popular dApps on the ETH blockchain. The ETH ecosystem is much bigger than TRON's, leaving the TRC20 version of USDT in the dust. This may change as ETH's fees soar. But with upcoming scalability upgrades, it's unlikely this will happen anytime soon. Just my thoughts

Wow! It's really amazing news for a crypto lover because everyone's desire is to reduce their transaction cost when they are transferring the money. Some coins make their transaction fees as high for investors. But trc20 is better than other's costing transaction terms. So, I always love to transact with TRC20 to USDT and others also.

What a nice experience, but usually i use Lumens for tranfer between exchange, and its possible to decreased because of the fluctuation of Lumens price during the transfer. I hope many exchange will list that USDT TRC20 so i can try to use it

Trading fee and Withdrawal fee: The exchange business is basically based on it. They have taken this step to improve and expand their activities. It is difficult to say how long it will last. Small traders and hunters will benefit a lot from this. Everyone wants to do the transaction without any fee which Houbi paying for USD.

If demand increases, other exchanges may try to make it free. The rest of the exchanges should think about the traders and take action. I have used trc20 a lot of times to withdraw from Binance and that was a good experience. For small crypto traders, the most important issue before starting trading is the exchange's withdrawal fee.

Many traders think of extra fees before withdraw. Tr20 is solving that problem now, I don't know how long this system will last.

First time using usdt trc20 on binance, I was also surprised that they did not ask for a fee and the transaction was faster. But unfortunately, not all exchanges provide free transaction fees when making a USDT trc20 withdrawal.

The TRC-20 version of USDT on the TRON blockchain is so much better than the Ethereum version. Unfortunately, not many people are aware of it as the new stablecoin lacks marketing/promotion. All of the attention is on TRON's alternative stablecoin dubbed "USDJ". At least, the TRC-20 version of USDT is supported by a few crypto exchanges. Once people realize its true benefits relative to ETH's version, they'll do the switch without thinking it twice. Believe me, TRON's higher transaction throughput works wonders for "De-Fi". Sending/receiving USDT on the TRON blockchain is much cheaper and faster than doing so in Ethereum. In some cases sending USDT through TRX is free (if you have TRX frozen for energy, of course). This makes the TRC-20 version of USDT the perfect stablecoin for day trading. As more companies, businesses, and individuals join the game, USDT on TRON will see a substantial increase in liquidity.

Nonetheless, people have a choice among various versions of USDT listed on the market. The fact that Tether lives on Ethereum, Tron, Bitcoin Cash, OMNI (Bitcoin), and even Algorand, tells us that it'll stand the test of time. This gives the stablecoin some resilience against network disruptions. USDT can enjoy various chains' benefits depending on the user's specific needs. As long as it's still being traded on the market, there's nothing to worry about. Let's hope more people get to know USDT's benefits on the TRX blockchain as crypto's popularity increase in the mainstream world. Just my thoughts

Thats true, and moreover a lot of dev teams are really afraid to give any hints about their upcoming updates - it may be simply stolen by competitors.
You can check out road map of a project, but we all know any project can add any updates in between the lines.

Never used it before,thank you for sharing your experience, it sounds attraction,
 i would try to withdraw trc-20 token whenever i get a chance,
indeed i like 0 fees.

The good thing is about you can send the stable coin anywhere to somewhere with zero fees. I have been using this a hundred times.
Good scalability gives us more options to send a stable coin without feeling worried about the congestion that eventually happened with ethereum blockchain. The tron USDT already accepted in almost all exchange sites.

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.