Topic: USDT Sending Fees - page 2. (Read 380 times)

It is better not to send someone USDT if only 1$. Why? Because even we are using network like Tron or BSC network, the cost is commonly also $1, except maybe in several certain websites or exchanges that are zero fee.
Moreover, if we send using the Ethereum network, of course, the fee will be higher.

Actually, your question has been answered by @hosseinimr93
Try to read the article that he gave and search for other articles in Google about what exchanges are available for BSC (Binance Smart Chain Network) or Tron which are lower fees

It must be more than it You can visit this link and then click on more. https://coinmarketcap.com/currencies/tether/ You will be seeing whole of blockchains that used by USDT right now. It has used so many blockchains.

If someone was sending you TRON USDT and you will be receiving TRON USDT, If someone was sending you ERC USDT and you will be receiving ERC USDT. That's why exchange site give you so many options to choose which blockchain that would be used to send your USDT.



BSC and TRON are the best options for the cheapest fees to send or receive your USDT.

Though your answer is not clear to me, I understand that your queries are regarding USDT fees. Okay, let me explain everything. For usdt sending, there are two questions.The first is centralised, and the second one is decentralised. First of all, if your fund is in a decentralized wallet, then it will cut fees according to its nework cost. The amount won't be cut in USDT, but it will cut the fees in the network coin.

For Decentralised Network:

ETH: $10-$100+ ETH DEPENDING on GWEI.
BSC: $0.05-$1 BNB depending.
TRON: Most of the time, it charges 1–5 TRON. which is equal to $0.08 to $0.4.
Algo: Almost No Fees!
Solana: $0.01-$0.5+ Sol depending.

There are more networks. Because usdt is in every network, that is why in a decentralised case, usdt fees depend on the network.

In a centralised case, most of the cases and most of the exchanges are cut at $15-$50. And they cut the fees in USDT coins. However, if you had usdt in a centralized exchange and wanted to send it to someone, then ask him to receive fund tron or bsc network, there may be a fee of up to 1 usdt.Why do I suggest two? Because most of the exchanges support Tron USDT, so this might be an alternative to avoid USDT high fees.
 
This is my opinion, and I use it: if I don't need funds in an ETH network, I don't accept funds in an ETH network.I always try to choose between BSC and TRON. If BSC is not supported, then TRON. Thank you.

Actually, just like other blockchains, sending USDT from one wallet to another costs a transaction or network fee. USDT has several networks, and transaction fees vary depending on which network you use.
The transaction price for Tron link networks (TRC20) is $1 per transaction, but the Ethereum USDT network charges up to $30 for transactions, and so on.

I don't have any experience with usdt which is why I ask these questions.  I had thought when you send usdt, it would deduct usdt as the fee.  Then I found out that wasn't how it works.


So for small amounts if you want to send, it only makes sense to use bsc and tron then correct?

I am surprised to see that Full member with 1k+ users did not know that there is Bsc network also.
Eth fee is depend upon Gwei. If you send when Gas fee high it will 20$+. Normal fee is 8-10$ for single transaction.
Trc20 fee is almost nothing. Polygon fee is nothing. If U send Usdt Trc 20 from Gate exchange the fee is zero.

That is what I read as well.  So what exchange can I use then?  The issue is I can't use other exchanges due to where I'm from.

According to this article, seems that USDT isn't available on Gemini at all. Instead of USDT, they have their own stable coin which is Gemini dollar (GUSD).
And according to this guide, tether is available on coinbase. But they only support ethereum chain.
So, if you want to have USDT on Tron or binance smart chain, you have to use another exchange.

What exchange can I get Usdt from the Binance Smart Chain or Tron if the only exchanges I can use is coinbase and gemini?

Transaction fees depend on the blockchain you are using. If USDT the Ethereum blockchain of course costs a little more than other blockchains. My advice, if you want to send USDT in small amounts, then choose the BSC blockchain, the fees are much lower than others. Some platforms even charge zero.

First of all if you are the receiver you never have to pay any fee as the fee is always paid by the sender of the transaction no matter on what network you are sending/receiving the transaction. To your other question, the fees that you have to pay in order to send some USDT to someone depends heavily on the network that you want to send the USDT on. If you are choosing the Ethereum network then at the moment you would have to pay around 7 USD worht of Ethereum for a USDT transaction, which is quite a lot so it would not make sense to send 15 USDT to someone on the Ethereum network at the moment in my opinion. If you send the USDT on the BSC for example the fees are around 0,10 USD worth of BNB.

You can see the list of USDT networks on Coingecko or Coinmarketcap.

On Coingecko, click on 3-dots button in front of "Contract".
On Coinmarketcap, click on "More" button under "Contracts".


BUSD is another stablecoin which is pegged to dollar too. It has been issued in partnership between Paxos and Binance.

Withdrawing USDT (ERC20) from exchanges though is costly, tried it once, and it's more than $20. You will have to spend ETH too when sending the USDT to another ETH wallet, that's a lot to waste but on the other hand, you can use BTC in LN for the cheapest possible. It's your choice.  I find it no reason to send USDT (TRC20) unless you are just moving from one exchange to another. Can users cash out (TRC20) USDT or in the BSC network?

what the OP needs to make sure of is the address that will receive your USDT. does it support networks other than ETH or not? if it supports you can do it. because now USDT is also available in several networks. depending on the address you are going to.
regarding the fees, I guess you have to do a check on the wallet you are using. like in the Tron network, if I'm not mistaken it requires $ 1 to make a transaction. but usually, it will be different for each platform you use.

There are some conditions that should be paid attention to:
1. If the USDT is on the wallet like Metamask/MEW or other similar types in which they have been in the Ethereum network, you can only use the Ethereum network to send the USDT. And you can check the gas fee of the Ethereum network at https://ethgasstation.info/ (I suggest you check periodically and find times when the gwei gas is low and not crowded). Ensure that you have an ETH balance in the wallet.

2. If you got the USDT in certain websites/exchange platforms, commonly there will be several conditions also:
a. Do the website provide Ethereum network only, or do they also provide other types of Network like Tron or BSC? If they provide some alternatives, it is better to use other networks besides the Ethereum network. COmmonly Tron or BSC have lower fees.
But, ensure that your wallet destination is also available to accept the USDT in the Tron or BSC wallet, or if not, you will lose the USDT

b. Consider the minimum withdrawal that must be fulfilled. Some websites commonly will have minimum withdrawal and if the minimum withdrawal is about 5$ as an example), you cannot send only 1USDT. And so far, I commonly experience that the fee of using Tron wallet will be around 1$. SO, if you want to only send 1$, I think this is better not to do that.

c. If you are on certain websites, commonly there will be also a table of fees, you canc check the information in the website about the fee. Because sometimes, fees between one website to others will be different, although some may ebalso the same.

So how many total USDT networks are there?


ETH is most expensive


Tron and BSC BEP 20 is cheaper


Then there is talk about BUSD?  BUSD isn't tether correct?  Then people talk about Solana and Matic... which I'm confused what is it?  I heard of solana but these are also usdt coins?  How many usdt networks are there total then?


So for people that want to send usdt a lot but small amounts, what is the preferred network?  BSC BEP 20 or Tron?

USDT is very costly in ethereum network. The most suitable are tron and busd. Fees vary according to exchanges. But in general, the ethereum network requires a commission of around $35. However, this may vary according to the amount of eth gas fee. But generally tron and busd charge a $1 transaction fee. Gate exchange, on the other hand, does not require any transaction fee on the tron network, you can make withdrawals with a minimum withdrawal of $ 100 without paying a transaction fee.

If you really care about not paying huge fees when sending USDT, avoid ETH blockchain. Use either TRC20, Solana, BEp20 or Matic blockchain, all these listed blockchains have wide support for USDT. when sending to exchange, be sure such exchange supports  the chain for USDT deposit to avoid loss.

Only on the eth blockchain the fees for usdt transfer are exorbitant they can even reach 20 $ on other blockchains such as tron ​​and bsc,etc the average fee is about 1 $

Okay so how many networks are there with USDT?  Is it this below or not?  I heard algo and solana as well but those are different?


ETH
Tron
BNB
BSC
BSC Bep20


So if you are receiving USDT from someone, it will most likely come from the ETH network unless otherwise stated?


Now if are planning to buy or receive USDT and want to send it with the cheapest fee possible, you want the USDT on which network?  Either Tron or BSC Bep20?  Can someone here quickly summarize the exact or approximate fees for each USDT right now when sending?  I know ETH is far the most expensive.  But USDT on the BSC Bep20 network is only 10 cents?  So why do people all not use that one then?



Now let say you want to send small amounts to other people... imagine between 1 to 5 dollars worth of USDT.  You should be using  BSC Bep20 since its only 10 cents fee?  But let say you received USDT on the BSC Bep20  network.  If you want to send it to someone... which coin do you you need in order to pay this fee?  Because if you have USDT on ETH or Tron network I know you need ETH or Tron to pay the fees.  But what about the other ones?

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Also this has me confused.  Whether you send usdt on ETH or Tron or BSC Bep20 network, you need to make two transactions?  Thus you need to first send the sending fee in ETH or Tron or BSC Bep20 first to to that USDT address you are sending to?  Then after that, you send the amount you want to send?  Or how does that work since I found out this is actually two transactions you have to make when sending usdt?



Imagine wanting to send just 5 dollars usdt to someone on ETH or Tron or BSC Bep20.  How would you do this?  Also what token you need for the BSC Bep20?




The other thing that is confusing is this.  Most networks use USDT only on the ETH network.  If that is the case, how would someone turn their USDT on the Tron or BSC Bep20 network into fiat in an exchange then?  Let say they have access to coinbase and gemini etc.  Imagine someone wants to turn their 500 usdt on Tron or BSC Bep20 to fiat on coinbase or gemini.  How would they do that since coinbase usdt is ETH and I believe gemini doesn't even offer usdt?



Also what exchanges have usdt in all networks?