Topic: My Little Experience with USDT - TRC20 - page 3. (Read 974 times)

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

I think you meant about withdrawals and fees with USDT on ERC20 chain, not on TRC20 chain, didn't you?

The fee on ERC20 chain is cheaper, you can see here:

https://ethgasstation.info/calculatorTxV.php
https://etherscan.io/gastracker
https://ethgasstation.info/index.php

Those sites give you current fee estimations that are cheapers than days, weeks ago.

In order to have good view on transaction fees recent months, see here: https://bitinfocharts.com/comparison/ethereum-median_transaction_fee.html

This explains a lot why the trc20 usdt transaction is free, from the experiment I carried out after reading the OP's post, I try to withdraw some usedt from Binance and from the withdrawal menu you can see it was clearly written in trc20 usdt "fee - 0 usdt" while clicking on erc20 "fee - 3 usdt"
In previous days, erc20 withdrawal fee in Binance was up to $5, I see now the fee has reduce again,  I guess it is because the tron network is not crowded like you earlier mentioned.

The fee of crypto transactions depend on some elements:
- Network status: empty, crowded, stucked/ congested.
- Average speed of transactions: how long you will have to wait to get 1 confirmation when the network is empty or when it is crowded.
- The price of coin or token: If the fee in TRX is 1 TRX, then it is about $0.026 but if the fee in TRX is 0.1 TRX, then fee in USD will be $0.0026. That is very cheap.
The price of TRX can be get with https://coinmarketcap.com/currencies/tron/ and it is cheap. I thought the cheap price of TRX in USD can help to save costs with transactions. Because it is too cheap, exchanges or casinos can waive fees for customers.

Since it is TRC20 expect it to be less fees unlike, I have never tried trading USDT from other wallet/exchangers to another, but I have been trading trx and other Trc20 coins with low gas fees. I would not be surprise if defi projects shift to TRC20 due to its fast and low gas transactions.

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.

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.

That's the beauty of the TRON blockchain. It may have a higher degree of centralization than Ethereum, but it's extremely convenient for mainstream payments. The TRC-20 version of Tether proves to be highly useful for both investors and traders alike. Usually, you don't need to pay a fee for each transaction performed on the TRON blockchain (unless you don't have energy by freezing TRX). With TRON's high performance blockchain, anyone can participate in the decentralized economy without breaking the bank.

As much as I admire Tether's version of the USDT stablecoin on the TRON blockchain, the same lacks adoption in the mainstream world. The ERC-20 version of USDT (on the ETH blockchain) has a far bigger ecosystem of crypto exchanges and dApps supporting it. AFAIK, the TRC-20 version of Tether's USDT stablecoin is only traded on Binance and Poloniex. With a very small amount of "De-Fi" platforms supporting USDT on the TRON blockchain, the ETH version remains unbeatable. TRC-20 stablecoins still have potential to take the world by storm with the low fees and blazing fast confirmation times of the TRON blockchain. But limited adoption will make people look elsewhere. I hope that more merchants, businesses, and mainstream developers adopt the TRC-20 version of Tether in order to ramp up the competition. Fees are so high on the ETH blockchain right now, that paying with a stablecoin like USDT on it becomes unfeasible. Tether on TRON is an opportunity for people to enjoy the benefits of Fiat without paying exorbitant fees for cross-border payments. With enough adoption in the mainstream world, the TRC-20 version of USDT could reach new heights. Just my thoughts

I think this is an event where you can make exchanges without having to use transaction fees and I am sure this event will not last long because if you keep doing it like that there is no income for the exchange.

after I tried it was true that using USDT (trc20) there was no shipping cost. I tried to convert TRX to USDT and then sent it back to my mobile wallet and in the end there were no shipping charges. on the other hand, when I tried to use Dex (justswap) to convert USDT to TRX, there were no shipping costs.

That's the best option we have right now, when making a USDT withdrawal. But not all exchanges when making a USDT (TRC20) withdrawal are fee free. There are still some exchanges that still charge a fee, like the Probit exchange. The USDT (TRC20) withdrawal fee on the probit exchange is $1.

Of course lol,the more the value of the coins goes up the same as the transaction fee increases and this is the Miners discretion mate.
well this is the reason why i am seeing some good posts in Tron thread in speculation things that is good because this coin is silently moving for the
last months and now here they are providing good and cheapest service for their users.

Yes, what you are saying is very true, because we can see examples of several tokens or coins that are already expensive and the cost for the transaction will obviously automatically feel expensive even though the unit fee has not been changed, for example, like TRON, which currently only cuts 1 unit only when someone makes a transaction, but it will obviously feel expensive if the TRON price reaches $ 1

Though we are able to enjoy this low transaction fee on Tron network/blockchain because the coin is still very cheap, if Tron reach 1$ someday the transaction fee will never remain the same again, I believe the higher the token/coin price is the higher it's transaction fee

Lol, I've stopped using USDT on ERC20 since the beginning of this year because Tron USDT is just way cheaper, it doesn't cost up to 1 Tron coin to send transactions on Tron network, now I'm a big fan as I use Tron to store USDT instead of Ethereum, things might change for Ethereum soon if the 2.0 update get launched this November 2020

Me too and i guess almost all of the stable coins will be doing massive expansion to issue the assets in the scalable chain to avoid the problem that has already faced by the old chain that has already used by them all.

I have heard that USDC has been expanding its service to the stellar chain too. That means if this trend will become massive and we will have a lot of choices for the stable coins assets and send it with very cheap fees.

I think that all of the stable coins must do this too.

Wow, glad to see this thread. This is very nice if you want to transfer your funds from one exchange to another without incurring fee or even just minimal fee. Eth network is relatively expensive these days. Now, we can appreciate the Tron blockchain. They need to promote this as much as possible, not many crypto users are aware of this feature.

Thanks for sharing mate,, Tron uses different consensus to eth called Dpos and eth uses POW which has really a big difference in transaction fees like bitcoin using POW it has a huge fees from miners and  since Dpos has no miners means no fees to be collected from my understanding dpos uses staking nodes no need using huge mining power like eth but I wonder why many people prefer eth network rather than using TRON? maybe in terms of security since POW are most secured than others.

I have recently found out the zero-fee of USDT TRC20,  Before that, I had to pay 14$ once when I wanted to transfer some USDT through the ERC20 blockchain, Thanks to Tron now the fee on it is almost zero and very smooth and fast, I loved it actually and even when I used to withdraw by XLM to pay less fee I would rather use USDT TRC20 now to transfer my money.

Yes mate, this is the case, from houbi to binance transaction fee was free not even 0.01 was deducted, I was also shocked myself didn't expect it but this is the truth, this will be my main transaction option this days, sometimes I like to withdraw usdt directly but the fee usually stops me but not anymore, thanks to trc20 I can freely move my usdt without a sweat, who doesn't want a free or cheap transaction fees!