Very cheap in terms of gas fees! And very fast. The ERC20 contract in BNB ecosystem is called BEP20. BSC (Binance Smart Chain, now called BNB)īinance chain which became popular because it is convenient to load fiat money from Binance exchange. The best in terms of ecosystem, obviously the most reputable, but the most expensive in terms of USDT transfer gas fees. There are four major options when we talk about simple USDT transfers: ETH (Ethereum native chain) This leads to a much friendlier user experience.Ģ) If you just got 100 USDT to your crypto wallet, they don't turn into 50 USDT overnight (well, there is no 100% guarantee, but at least it's much-much more stable than tokens not pegged to US dollar) Which blockchains you can use to send USDT? You can accept Bitcoin and Ethereum directly in your projects, but USDT are just a bit more convenient for money transfers because:ġ) Everyone knows what USD is, so in USDT you instantly can evaluate the real amount of money you are operating with. I have started accepting crypto payments recently for smaller projects, and while I was pretty skeptical regarding all these NFTs and other ICOs in crypto world, the simple, cheap, transparent and reliable alternative to bank money transfers was something I liked, because I saw a practical value in it. Basically it is a cryptocurrency which is directly pegged to real US dollar so its value is almost always is equal to US dollar value. ![]() ![]() USDT is the most popular stablecoin in crypto. But I am good at building products, and I have my 15 years of software development experience in a product-focused company, so I am taking my first humble efforts in improving the crypto ecosystem, particularly around payment transfers and processing (because this is where I felt the pain and this is where I can eat my own dogfood). It was built using 11ty for landing website, and Ethers for blockchain requests.ĭisclaimer: I am not a world-class expert in blockchains, I am still learning it. If you have any further questions or need assistance, please don't hesitate to contact our support team.Have you ever wondered what is the best blockchain to send USDT and why Ethereum blockchain is so expensive (is it?) in terms of gas fees, and what is the best alternative? Therefore, it's recommended to have a sufficient amount of ETH in your DeFi Wallet to cover these fees. It's important to note that the required amount of ETH for network fees may vary depending on the current network congestion and gas prices. This ensures that the transaction is processed by the Ethereum network. When you send ERC-20 tokens, a small amount of ETH is used to cover the gas fees associated with the transaction. ![]() Higher gas prices result in faster transaction confirmations, as it prioritize your transaction.įee Payment: Gas fees are paid in ETH. The gas price represents the amount you're willing to pay per unit of gas. Gas Price: Gas fees are determined by the gas price, which is denoted in Gwei (which itself is a denomination of ETH). Sending ERC-20 tokens involves interacting with smart contracts, which requires more gas than a simple ETH transfer. Gas Calculation: Gas fees are calculated based on the complexity of the transaction and the amount of computational resources required. ![]() When you send ERC-20 tokens, you are executing smart contract functions on the Ethereum network, which requires these gas fees. Gas fees are the costs associated with using the computational resources of the network. The Ethereum network uses gas fees to process transactions. The reason lies in the network fees associated with Ethereum blockchain. When sending or swapping ERC-20 tokens from your DeFi Wallet, you may wonder why you need ETH (Ethereum) for that.
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