My Little Experience with USDT - TRC20 - page 4.

Mulann2

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Quote from: verita1 on October 17, 2020, 02:58:48 PM

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.

verita1

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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.

sayam

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Activity: 1442

Merit: 2

At first, it seemed very strange to me. After a little deliberation, the matter became clear to me. In fact, everyone will be surprised at first to see this zero fee after paying more fees everywhere. So now most of the time I use Trc20 Usdt addresses to avoid the hassle of these high fees.

TIDOVEE

sr. member

Activity: 1246

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It's really a good one, high exchange fee has been the complain of many for many times now, TRC2 has come to solve that, I have been hearing about the TRC20 but I never new it could have such a great advantage, but don't you think it is just a bait to gain the swap for some time, I'm sensing it may have to come up with exchange fee later. Or what do you think?

nykka

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Activity: 252

Merit: 11

It was really good discovery for me that there is USDT on TRC-20 chain and it`s very comfortable to use. Usually I needed to pay 5+ dollars fee for withraw in erc-20 USDT and this asset really surprised me as you, so glad to see such comfortable to use coins

Godwinpaul

jr. member

Activity: 276

Merit: 1

I never noticed that the TRC20 USDT until the gas fee for ERC20 tokens escalated. I was surprised when I had to send USDT from my TronLink wallet and no charges was deducted. Tron has indeed made sending USDT very economical and I wish more projects can move to the tron blockchain and decongest the ethereum blockchain.

Mulann2

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Activity: 686

Merit: 35

Quote from: ?? on ??

I have compared the withdrawal fees on one of the exchanges with details of 5 USDT based on ERC20 and 0.01 USDT for TRC20, the use of transactions will switch to TRC20 and maybe in the future it will make the transaction process to be confirmed looks a little slow.

You can not compare $0.01 to $5, I know any sane person will immediately opt for the cheapest and fastest service so to speak, and as for slow confirmation, I doubt that will even occur or even if it will happen that will probably be some time in the far away future, for now, TRC20 blockchain is faster and cheaper and I suggest we all take full advantage.

khiholangkang

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I have also made a withdrawal from an exchange using USDT Trc20 and there are no fees, maybe this is also because the fees on the tron network are very cheap

cryptoknightt

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really, hmm if that's the case next time I will try to use trc20 to withdraw usdt from exchange.
although I rarely withdraw using usdt because the feeble is quite expensive for one withdrawal.
while coins like xlm, doge, xrp have become an alternative for some people.

yangongear

full member

Activity: 447

Merit: 100

Quote from: peterlustig on October 17, 2020, 01:57:00 AM

Yes, many exchanges are offering a 0 withdrawal fee when transferring TRC-20 USDT even, binance is offering the same. This feature is excellent in my opinion because I remember during the early days I had to pay 5 USDT as the withdrawal fees (ERC20 one).

Yes, but some exchange still charge $1 fee for USDT-TRC20 withdraw. I hope Binance and other exchange will keep this fee for later. But the transaction speed of the TRC20 network now seems to be slowing down, as every withdrawal of my USDT has to wait 5 to 10 minutes, while it used to be less than 1 minute.

Francis Freeman

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Quote from: Bitstar_coin on October 16, 2020, 05:29:03 AM

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 Cheesy

thanks to eth high transaction fee that made me discover this,

Do share your thoughts and opinion or experience too.

Say what you want about Justin Sun , he is a proper business ann and has a very good marketing team behind him.
He knew that users are fed up with the high gas costs and introduced low cost usd in trc20 chain and now it's very comfortable for the crypto traders.

peterlustig

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The Fourth Generation of Blockchain in DeFi

Yes, many exchanges are offering a 0 withdrawal fee when transferring TRC-20 USDT even, binance is offering the same. This feature is excellent in my opinion because I remember during the early days I had to pay 5 USDT as the withdrawal fees (ERC20 one).

JeffBrad12

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Leading Crypto Sports Betting & Casino Platform

Quote from: Wenbing on October 16, 2020, 12:59:58 PM

Are you saying there is no transaction fee apply in using trc20 for transfer of USDT. i have question, as i have limited knowledge about these concepts;
1. Does the zero transaction fee apply to other crypto like BCH, LTC etc
2. where can i find resources about trc20 to study.

Thanks

1
It doesn't when you are transferring the real bitcoin that will be using its native chain to process the transaction. It can happen when you were transferring the tron asset-backed by bitcoin that will have 1:1 ratio equal with the real bitcoin.
2. You can visit this page to learn more about TRC20 https://tronprotocol.github.io/documentation-en/contracts/trc20/ but github is currently in the maintenance. You can visit it when the maintenance will have done.

Bitstar_coin

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Quote from: hd49728 on October 16, 2020, 10:31:51 PM

Quote from: Bitstar_coin on October 16, 2020, 05:29:03 AM

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 Cheesy

Transactions for USDT on TRC-20 have cheap fees. If I remember correct, the fee for USDT on TRC-20 withdrawals on Binance is about $0.1. Not sure but you can log in your account, check, and confirm it.

The important thing must to be done correct is you can only move your USDT from TRC-20 address to another USDT TRC-20 address. You can not move your USDT cross chains from OMNI layer to ERC-20 or to TRC-20 and there is a chain on EOS for USDT too. If you move cross-chain, you will lose your USDT.

Yeah bro am aware of the not able to move usdt crosschain, it is always part of the instruction menu that pops up when you want to make your transaction, i don't fail to read those instructions so as not to make any costly mistakes in the process,

But what I wasn't aware of is the free transaction aspect to same chain, withdraw usdt trc20 to another usdt trc20 cost little or nothing (in this case it cost me nothing), this is something I wasn't aware of until recently and I think others who are not aware should know about it, there is no need spending much gas using erc20 when trc20 can get the job done at a cheaper or free rate, if other trc20 support coins have same free transaction rate I don't see why it is not being patronise heavily.

Shasha80

sr. member

Activity: 1876

Merit: 318

It turns out that many also realize that using TRC20-USDT is more profitable than using ERC20-USDT. Because TRC20-USDT is
completely free for withdrawal fees, it is different from TRC20-USDT which has quite expensive transaction fees. Although there
are not many exchanges that support TRC20-USDT. Therefore the majority of people still use the ERC20-USDT. Hopefully in the
near future more exchanges support TRC20-USDT.

hd49728

legendary

Activity: 2044

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Not your keys, not your coins!

Quote from: Bitstar_coin on October 16, 2020, 05:29:03 AM

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 Cheesy

Transactions for USDT on TRC-20 have cheap fees. If I remember correct, the fee for USDT on TRC-20 withdrawals on Binance is about $0.1. Not sure but you can log in your account, check, and confirm it.

The important thing must to be done correct is you can only move your USDT from TRC-20 address to another USDT TRC-20 address. You can not move your USDT cross chains from OMNI layer to ERC-20 or to TRC-20 and there is a chain on EOS for USDT too. If you move cross-chain, you will lose your USDT.

Bitstar_coin

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SecureShift.io | Crypto-Exchange

Quote from: Wenbing on October 16, 2020, 12:59:58 PM

Quote from: Bitstar_coin on October 16, 2020, 05:29:03 AM

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 Cheesy

thanks to eth high transaction fee that made me discover this,

Do share your thoughts and opinion or experience too.

Are you saying there is no transaction fee apply in using trc20 for transfer of USDT. i have question, as i have limited knowledge about these concepts;
1. Does the zero transaction fee apply to other crypto like BCH, LTC etc
2. where can i find resources about trc20 to study.

Thanks

Yes mate, exactly what I wrote above, my withdraw of $150 from houbi exchange to Binance remains same amount when the transaction was completed, there was no transaction fee deducted which already explains it all,

1. I can not say for sure because I haven't try those, if there is a trc20 support for this coins you mentioned then I guess the result will be sane or slightly different than usdt trc20.
2. Trc20 belong to the Tronix blockchain you can find more information by visiting the tron network and read about it or visit any of their telegram group chat and make enquiries.

Mahdirakib

legendary

Activity: 1946

Merit: 1026

In Search of Incredible

Haven't made any usdt transaction yet. But I have played with usdt at some casino. And exchanged it before making withdrawal. I have seen those casino site have two type of usdt deposit/withdrawal option available, OMNI and ERC20. Recently I have heard that there is another type of usdt service available which is based on TRON network. Finally I learned that TRC20 doesn't charge any tx fee! Well, it's interesting.
Maybe I should research more about the usdt network and use that coin. Here I found some information Difference in Three USDT Chain: OMNI, ERC20 and TRC20

Wenbing

member

Activity: 532

Merit: 36

There is gold in volatility..

Quote from: Bitstar_coin on October 16, 2020, 05:29:03 AM

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 Cheesy

thanks to eth high transaction fee that made me discover this,

Do share your thoughts and opinion or experience too.

Are you saying there is no transaction fee apply in using trc20 for transfer of USDT. i have question, as i have limited knowledge about these concepts;
1. Does the zero transaction fee apply to other crypto like BCH, LTC etc
2. where can i find resources about trc20 to study.

Thanks

Arkann

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Activity: 714

Merit: 104

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.

Topic: My Little Experience with USDT - TRC20 - page 4. (Read 974 times)