You want to make USDT transaction, check transaction fee across chains - page 2.

tranthidung

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Quote from: BitcoinGirl.Club on January 02, 2024, 06:27:33 AM

Isn't USDT is some kind of centralized chain. They can lock an address whenever they want.

Yes, not only USDT but other centralized stable coins. Altcoins are centralized and stable coins are something like centralized, more sensitive with regulations and law enforcement requests.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
Banned addreses
- https://dune.com/phabc/usdt---banned-addresses
- https://dune.com/phabc/usdc-banned-addresses

Quote from: sujonali1819 on January 02, 2024, 06:30:44 AM

I don't remember when I used the ETH network last time for my usage. I normally use the TRON chain for USDT transactions. The website showing TRON fees is bigger than ETH, lol. I thought ETH fees are normally now around 3 USD.

Also, another site for your need and for comparison.

https://exchangewar.info/
I only confuse that why they mark stable coins as fiat money

sujonali1819

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I don't remember when I used the ETH network last time for my usage. I normally use the TRON chain for USDT transactions. The website showing TRON fees is bigger than ETH, lol. I thought ETH fees are normally now around 3 USD.

The polygon network is super cheap based on other networks. But its usage is not bigger like TRON.

BitcoinGirl.Club

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Quote from: RapTarX on January 01, 2024, 11:46:41 AM

Quote from: Huppercase on January 01, 2024, 06:02:34 AM

It's better to avoid any chain that asked for large fees.

Bitcoin on-chain fee has been outrageous for the last few weeks. The fee was quite high. I had to pay more than a $50 fee on a TX; I had many inputs. Nevertheless, would you stop using the Bitcoin chain for that? I believe you wouldn't do that.

Bitcoin chain is not for small transactions. At least not now. If you are moving large some of money then it's fine to pay $50 to $100 fees but for a $500 transaction, it's better to use other chain. I don't see anytime soon the transaction fees are going down.

Quote from: hugeblack on January 02, 2024, 04:34:36 AM

I preferred DAI as it is a little decentralized and more linked to USDC, which seems less likely to collapse than USDT since Coinbase has better reserves and a safety factor than USDT.

Isn't USDT is some kind of centralized chain. They can lock an address whenever they want.

hugeblack

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Quote from: dkbit98 on January 01, 2024, 04:08:07 PM

Quote from: tranthidung on December 31, 2023, 09:16:55 PM

...

This website can be useful but just look at that Tron piece of shit blockhain... it has higher transaction fees than ethereum now and it's so complicated to use for any newbies, with stupid staking, energy, bandwidth, etc.

I wouldn't recommend keeping USDT long term on any chain, but I think people should consider using L-USDT and L-BTC on Liquid network.
Transaction fees are much lower, they can be confidential, and there is 36,561,000.00 L-USDT and over 3,749 L-BTC at the moment:
https://liquid.network/

Polygon network also seems to be cheaper than Ethereum, but it seems that we will move to layer 2/3 applications where these tokens are reasons to use those layers. I preferred DAI as it is a little decentralized and more linked to USDC, which seems less likely to collapse than USDT since Coinbase has better reserves and a safety factor than USDT.

libert19

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Quote from: BIT-BENDER on January 01, 2024, 01:08:45 PM

But my question is USDT polygon does it work only on binance if no what other exchanges accepts the use of USDT polygon.

Polygon is established chain, most exchanges should support it, if I were to list you all these exchanges list will too long, better just check yourself on deposit page of exchanges you use. You can also use instant exchanges.

dkbit98

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Quote from: tranthidung on December 31, 2023, 09:16:55 PM

...

This website can be useful but just look at that Tron piece of shit blockhain... it has higher transaction fees than ethereum now and it's so complicated to use for any newbies, with stupid staking, energy, bandwidth, etc.

I wouldn't recommend keeping USDT long term on any chain, but I think people should consider using L-USDT and L-BTC on Liquid network.
Transaction fees are much lower, they can be confidential, and there is 36,561,000.00 L-USDT and over 3,749 L-BTC at the moment:
https://liquid.network/

BIT-BENDER

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Quote from: libert19 on December 31, 2023, 10:57:12 PM

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

I just recently tried out USDT polygon network and I think it's quite better than USDT Tron network, also it's better if you are the type that sends out a good amount to several wallet you can use USDT polygon to cut your cost.
But my question is USDT polygon does it work only on binance if no what other exchanges accepts the use of USDT polygon.

RapTarX

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Quote from: Despairo on December 31, 2023, 11:39:37 PM

if you use custodial wallet/exchange, the cost will be higher since they charge more.

Binance charges a $1 fee for withdrawal of USDT through TRC20; and $8 for ERC20. I guess the on-chain fee for sending both ERC20 & TRC20 tokens is higher, isn't it? That's an advantage LOL although I recommend avoiding CEX.

Quote from: Huppercase on January 01, 2024, 06:02:34 AM

It's better to avoid any chain that asked for large fees.

Bitcoin on-chain fee has been outrageous for the last few weeks. The fee was quite high. I had to pay more than a $50 fee on a TX; I had many inputs. Nevertheless, would you stop using the Bitcoin chain for that? I believe you wouldn't do that.

Huppercase

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Quote from: libert19 on December 31, 2023, 10:57:12 PM

BSC, Polygon are cheapest, I'd also add Optimism to the list. Honestly, no need to use any site for this, just choose these networks and make your transaction.

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

3 days ago, I wanted making USDT transaction on my Tron wallet and I had $2 worth of TRX on my wallet to be used as fees, if it was some months back, I can make more than 3 transaction and have some TRX remaining but it seems that the crazy fees is now accross all the chain but they are preferable to some than will asked for more than half of your funds, I think I will go with matic as an option than the BSC you mention because matic is even more cheaper tha Binance smart chain right now.

I stopped using Ethereum long time ago since Abitrum literally do anything you want in Ethereum chain, just bridge your funds to Abitrum and make sure you finish all your transactions before bridging back to Ethereum, it safe fees and also safe you from transaction failure which will cost you extra. One of my biggest fear of using Ethereum chain is when you make a transaction on Ethereum and it failed, it will be dropped but the fees will be taken which is like stealing, no work was done but they took the fees, for what exactly. It's better to avoid any chain that asked for large fees.

Despairo

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Key to notes to users:

1. It's the cost when you transfer your token (USDT) through non custodial wallet, if you use custodial wallet/exchange, the cost will be higher since they charge more.

2. If you currently have USDT ERC20 or USDT TRC20 which has expensive fees to USDT BEP20 or USDT Matic which cheaper, you can swap your token through swap exchange e.g. fixedfloat or bridge your token through non custodial wallet e.g. Safepal.

libert19

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BSC, Polygon are cheapest, I'd also add Optimism to the list. Honestly, no need to use any site for this, just choose these networks and make your transaction.

I have stopped using Ethereum for making transactions long ago, even when it's gas fees are low, you still pay around 1 USD, which is still expensive compared to aforementioned networks.

tranthidung

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Farewell o_e_l_e_o

Website: https://gasfeesnow.com/
Heat map: https://gasfeesnow.com/heatmap/. I don't like this page too much. It seems to have not too good design.
Historical data table: see at the page bottom

You want to withdraw/ make a transaction with Tether USDT, what are fess now?

The above website gives you USDT fees across 4 chains
- ETH ERC20
- Binance Smart Chain BSC
- TRON TRC20
- Polygon

Quote

Everyone knows ERC20 transfers are expensive, but how exactly expensive, and what is the best alternative? This page was built so I don't need to jump over Metamask Networks to estimate gas fees in different networks for a simple USDT transfer.

Quote

What about BUSD and USDC?
Other stablecoins gas fees are very similar across the same blockchains, so you can safely assume that BUSD(BEP20) transfer on BSC blockchain will cost the same as USDT(BEP20) transfer on the same BSC blockchain.

Quick observations
As of Aug 2022, all blockchains except native ETH (Ethereum) are pretty stable in terms of fees during the day. But Ethereum USDT transfer gas fee is very volatile: it fluctuates from 0.5 USD to 7 USD! And Polygon is the cheapest network to transfer USDT.

Topic: You want to make USDT transaction, check transaction fee across chains - page 2. (Read 320 times)