Topic: Trust wallet (Read 413 times)
TYVM for those details, I am reassured. When I saw the message above from satscraper, I thought a very important change has happened and BCH wasn't supported anymore even if I didn't hear of an hard fork of BCH recently. I have already done a transaction and sending some bitcoin cash with the last version available on smartphone(Android) and it worked as usual. So everything seems to be fine actually.
"[BCH]: Migrate BitcoinCash to BitcoinV2 (Rust)" What does it mean precisely? What is BitcoinV2? BCH is not supported anymore? What will happen to our BCH coins we hold into TrustWallet? We won't be able to access them and to pay with it anymore? It's sad because I'm using this wallet to send Bitcoin Cash to my VPN provider, since it is not accepting Lightning Network payments up to now, and BCH is way cheapest then Bitcoin for sending transactions, especially when those transactions are very small, and not even reaching $1.
I think they just replaced the BCH-client-relevant -libraries to new ones (developed with RUST programming language) and didn't touch the functionality of the wallet, so BCH ( and any other crypto) is not effected. (I'm maxi and don't use any alts including BCH, so that, I can't check my assumption, but hope it is true).
"[BCH]: Migrate BitcoinCash to BitcoinV2 (Rust)" What does it mean precisely? What is BitcoinV2? BCH is not supported anymore? What will happen to our BCH coins we hold into TrustWallet? We won't be able to access them and to pay with it anymore? It's sad because I'm using this wallet to send Bitcoin Cash to my VPN provider, since it is not accepting Lightning Network payments up to now, and BCH is way cheapest then Bitcoin for sending transactions, especially when those transactions are very small, and not even reaching $1.
Looking at https://github.com/trustwallet/wallet-core/pull/4049, it seems Bitcoin Cash is still supported where they use different library (BitcoinV2) to do that. In addition, i didn't mention of removing BCH support on their website.
"[BCH]: Migrate BitcoinCash to BitcoinV2 (Rust)" What does it mean precisely? What is BitcoinV2? BCH is not supported anymore? What will happen to our BCH coins we hold into TrustWallet? We won't be able to access them and to pay with it anymore? It's sad because I'm using this wallet to send Bitcoin Cash to my VPN provider, since it is not accepting Lightning Network payments up to now, and BCH is way cheapest then Bitcoin for sending transactions, especially when those transactions are very small, and not even reaching $1.
Yesterday two changes (relevant to Trust Wallet) have taken place.
First, this wallet has been elevated to v. 4.1.12 (with much anticipated, at least by me, Linux Cl upgrade)
and, second, the appearance of Trust LaunchPool
which can be accessed directly via wallet menu:
Important details:
"Total Reward Pool: 4.2 trillion $WHY tokens (worth of $1M)' and the duration of the tokens-locking-period is 7 days.
First, this wallet has been elevated to v. 4.1.12 (with much anticipated, at least by me, Linux Cl upgrade)
and, second, the appearance of Trust LaunchPool
Quote from: https://x.com/TrustWallet
which can be accessed directly via wallet menu:
Important details:
"Total Reward Pool: 4.2 trillion $WHY tokens (worth of $1M)' and the duration of the tokens-locking-period is 7 days.
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
That's no longer the case, since the last updates. Now you can create a kind of wallet that will be able to use dozens of cryptos in order to pay the gas/transaction fees on the main blockchains. I don't know how fair are the conversion rates TBH, but having to hold and check the balance of some native coins for any blockchain you're using is boring as hell. On token platforms such as Ethereum, the main "coin" is not a coin like other cryptocurrencies like bitcoin, litecoin, monero, etc. Meaning in this example ether is not a coin, it is instead fuel for smart contracts. So when you want to send a token (that's the smart contract) created on a token platform you have to use that "fuel" to feed into the transfer. Which is also known as "gas".
A simple way to explain it is you need to know the difference between the coins and the tokens. The coins will usually have their own blockchain and you will be paying the tx fee in the same blockchain. The tokens are usually developed on top of any blockchain and when you transfer those tokens from one wallet to another, the fee is detected from the parent chain's and hence you will have to pay the fee in that coin.
This also helps the parent blockchain to grow as that blockchain uses increases, as more tokens are developed on it and more users use that chain and tokens.
On token platforms such as Ethereum, the main "coin" is not a coin like other cryptocurrencies like bitcoin, litecoin, monero, etc. Meaning in this example ether is not a coin, it is instead fuel for smart contracts. So when you want to send a token (that's the smart contract) created on a token platform you have to use that "fuel" to feed into the transfer. Which is also known as "gas".
It's clear and has been mentioned by several members above. If we use a certain network such as BNB to make a transaction on a trustwallet then we also need BNB as a fee or gas fee for the transactions we make, the same goes for Ethereum - if we use the Ethereum network in the transactions we make then we need ETH as a gas fee transactions, this also applies to any network such as SOL, Matic, and so on.
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
This is to pay the gas fee, you must have some ethereum in your wallet if you are sending USDT over the Ethereum network. Similarly if you have seen sending the USDT over the BSc Network, then you should have BNB in your wallet to pay for the gas fee. Not just USDT, any token you send over any network, you would be needing the gas fee to be paid for that blockchain in its native token.
I think you are using trust wallet, that why you think you are asked for a fee but even if you use any wallet like Meta Mask, Unstoppable or any Web 3 wallet, you will be asked to have the gas fee for the blockchain that you are using to send your tokens..
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
You need to understand that Tether is a Token, and Ethereum is the Coin and the Blockchain. Tether is built on top of Ethereum Blockchain, so whenever you want to send Tether or any other Token on a EVM blockchain like Ethereum, BNB. or other blockchahins like Solana, Tron etc using a Non Cusdotial Wallet Like Metamask, Legder or whatever, You would need a small amount of that blockchain's native Coin to cover Gas (Transaction) Fee. This will change when withdrawing funds from Centralized Exchanges because exchanges take your tokens as fee but from back end they also pay the native token for transactions.
I hope this explanation helps you understand how Ethereum Transactions works now.
For every blockchain or network et. al. ETH, BNB, TRX, you'll be required to pay for your transfers. As explained by logfles and everybody that it's the basic thing when you try to send ETH to another address or ERC20 tokens to another person. It's the same with the other networks that I've mentioned, BNB for BSC/BEP20 tokens and TRC for TRC20 tokens.
Think of it as if you're using an online payment transfer and you have to pay for the transfer fee. I guess that's the most simple logic to understand why it requires you to pay for gas(transfer) fees.
Think of it as if you're using an online payment transfer and you have to pay for the transfer fee. I guess that's the most simple logic to understand why it requires you to pay for gas(transfer) fees.
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
It's a very simple question you asked here not only trust wallet but you need fee to send any token from anywhere. If USDT is from TRX platform then you have to pay TRX fee or if USDT is from Bep20 platform you have to pay BNB fee. Also if it is Ethereum you have to pay Ethereum fee to transfer. There is no solution for this transfer fee. There is no solution to send without paying the transfer fee. 
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
You will be charged a fee for using any blockchain, if you are doing a transaction, they will deduct some fee from you, so what if you are in the Ethereum chain? If you want to send it, you will have to pay Ethereum fee. If it is BNB chain you have to pay BNB.
So you have to pay its fee as payment in any chain during transaction.
This is basically Ethereum 101
For any transaction to take place on the Ethereum blockchain, you need transaction fees also known as gas fees paid in Ether. Without ether for gas fee, you can't spend any coins or ERC20 tokens. The same applies to USDT on Ethereum blockchain, which is an ERC20 token
Read - https://ethereum.org/gas
For any transaction to take place on the Ethereum blockchain, you need transaction fees also known as gas fees paid in Ether. Without ether for gas fee, you can't spend any coins or ERC20 tokens. The same applies to USDT on Ethereum blockchain, which is an ERC20 token
Read - https://ethereum.org/gas
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
From my understanding of how transaction fees work, you will need Ethereum because the token you want to send is on Ethereum Blockchain. If you were sending usdt on Binance Blockchain you'll need BNB to pay for fees. All Blockchain needs their own coins to approve transactions on their Blockchain.
Can anyone explain to me why you need ethereum in your trust wallet especially when you want to send usdt tether Ethereum to another address
Jump to: