USDT is issued by the centralized company Tether, and there are currently 3 different types of USDT in the market. Today, the vernacular blockchain briefly introduces these three different types of USDT.
Three different types of USDT
The first is the Bitcoin-based USDT (issued based on the Omni protocol). This USDT is stored on a Bitcoin address, so every time a transfer (on-chain transfer) is made, a small amount of Bitcoin needs to be paid as a miner fee.
Except that the transfer requires Bitcoin as the miner’s fee, each time a USDT transfer is initiated, a correspondingly small amount of Bitcoin transfer will be generated. Therefore, every time a bitcoin-based USDT transfer is initiated, at least 0.0002 bitcoins must be in the wallet address to ensure the successful transfer. At the same time, when the recipient receives a USDT transfer, it will also receive a Bitcoin transfer with a minimum amount.
The second is the Ethereum-based USDT (issued based on the ERC-20 protocol). This USDT is stored on the Ethereum address. Correspondingly, each time a transfer (on-chain transfer) is required, Gas, which is ETH, needs to be consumed.
Currently, USDT in the market is mainly concentrated on Bitcoin and Ethereum.
The third type of USDT is the USDT issued based on the TRON network (TRON). The TRC-20 USDT based on the TRON network is stored in the TRON address. Deposits and withdrawals are carried out through the TRON network, and the transfer is free.
Which of the above three USDT transfers is the fastest? Because the TRON network reaches thousands of TPS, it is currently the fastest transfer.
Which USDT transfer is the safest? Some people say that TRON’s 27 DPoS super nodes are not as secure as the other two networks, and the most secure is only the Bitcoin network.
Which USDT should I choose? Bitcoin-based USDT is recommended for large transfers, ERC-20 USDT based on Ethereum is a compromise, and TRON-based USDT can be selected for small transfers, which is faster.
Beware of loss of assets when depositing and withdrawing
Bitcoin-based USDT and Ethereum-based USDT are incompatible and cannot be transferred to each other.
So, how do you know which USDT your USDT belongs to?
In fact, it is very simple. It can be judged by the stored USDT address: the address starting with “1” belongs to USDT based on Bitcoin; the address starting with “0x” belongs to USDT based on Ethereum. In other words, Bitcoin-based USDT can only be stored on Bitcoin addresses; Ethereum-based USDT can only be stored on Ethereum addresses.
As for the third TRON-based USDT, some trading platforms already support it, and the address starts with “T”.
Whether it is transfer, deposit or withdrawal from the trading platform, it is necessary to pay attention to distinguish which type of USDT will be operated.
summary
There are three types of USDT stable coins issued by Tether, which are based on Bitcoin, Ethereum and TRON. Based on Bitcoin and Ethereum-based USDT, the two are incompatible and cannot be transferred to each other. You can judge which USDT belongs to from the stored address.
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