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How to Choose a Blockchain Network for Deposits (USDT as Example)?

How to Choose a Blockchain Network for Deposits (USDT as Example)?

2023/12/07 16:32:25

USDT is a stablecoin called Tether USD (USDT) that operates on various public chains. It was created by Tether and is pegged and backed to the value of the United States dollar (USD). Each USDT should be equivalent to 1 U.S. dollar, making it one of the most popular stablecoins.

The following is an introduction to the three public chains of USDT that have been issued, namely USDT-TRC20, USDT-ERC20, and USDT-OMNI.

1. USDT-TRON (USDT-TRC20) denotes the Tether USD (USDT) tokens issued on the TRON network. USDT deposits and withdrawals through the TRON-based Network occur exclusively with the TRC20 protocol.
Transaction address: TRONSCAN

2. USDT-ERC20 refers to Tether USD (USDT) tokens issued on the Ethereum network by Tether. USDT Deposits and withdrawals through the ERC20-based Network occur exclusively with the ERC20 protocol.
Transaction address: Etherscan

3. USDT-OMNI represents the USDT issued by Tether based on the BTC network. Deposits and withdrawals of USDT-ERC20 are conducted solely within the BTC network. The protocol used by USDT-OMNI is an omni layer protocol built on the BTC blockchain network.
Transaction address: OmniExplorer

Below is an example of USDT-TRC20 deposit:

1) Select Tether (USDT). 

2) Select chain type: TRC20. 

3) [Copy] your USDT-TRC20 deposit address or scan the deposit QR code from FameEX. 

4) Paste the FameEX deposit address to the withdrawal section of the withdrawal platform and select the same currency and chain type to initiate the withdrawal.

Note: It is important to double-check the currency, chain type, and address before initiating a deposit. Any mistakes in these details can lead to a deposit not being received and subsequently being unable to be retrieved.

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