Crypto beginners looking for insight on what TRC20 tokens and ERC20 tokens have come to the right place. Let’s know what TRC20 and ERC20 tokens are, the differences between TRC20 and ERC20 USDT tokens, why users choose and think TRC20 tokens are better.
There are many crypto exchanges that support USDT TRC20 tokens, such as, KuCoin, Binance, Bitfinex, FTX, etc. But before we look into this, it is important to understand the difference between ERC20 and TRC20 tokens, so that you do not accidentally send your cryptocurrency to the wrong wallet address.
ERC20 is the Ethereum blockchain smart contract technical standard for tokens. ERC20 is an official protocol that improves the Ethereum (ETH) network and can be regarded as a standard for tokens created on the Ethereum blockchain. ERC20 tokens are stored in the Ethereum address and are paid by Ethereum to cover transaction fees. ERC20 is one of the most popular technical standards among many different types of Ethereum technology tokens. Ethereum smart contracts are used to create ERC20 tokens based on the Ethereum blockchain. The most common tokens are Tether (USDT) ERC20 based on Ethereum. You can find a list of other ERC20 tokens here.
What is TRC20? What is the TRC20 USDT Token?
TRC20 USDT is issued on the TRON blockchain network. TRC20 is the token standard for issuing and managing tokens created on the TRON blockchain. TRC20 is a token standard based on implementing a smart contract for the issuance of any new token on the TRON network. Since TRON is a public blockchain, it allows anyone to create and issue tokens following the rules specified in the TRC20 standard. It is a standard technical token powered by the TRON network or the blockchain using a TRON address, which means all transactions made on the TRON network. You can view the whole TRC20 tokens list here.
TRC20 Tokens or ERC20 Tokens Compared: The Difference and Why TRC20 is Better
The question that arises is which token should choose for trading purposes. The CEO of BitTorrent and the founder of TRON, Justin Sun, shared a Coinmetrics chart. The chart reveals that the volume of USDT tokens that passed through the TRON blockchain as of April 2021 exceeded that of their registered ERC20 counterparts at just over $1 billion. Tether transactions on the TRON blockchain have surpassed the ones based on Ethereum. USDT users have switched from Ethereum to TRON due to lower fees and faster transactions. There are some more things to consider when comparing TRC20 USDT and ERC20 USDT tokens, such as:
- Speed: ERC20 USDT tokens can take up to 10 minutes to transfer, whereas TRC20 USDT tokens move in seconds.
- Safety: ERC20 USDT tokens are based on the Ethereum blockchain and provide better security than TRON’s TRC20 USDT tokens.
- Fees: TRON’s transactions are entirely free, but crypto exchanges charge a fee of 1 or 2 USDT for TRC20 USDT tokens which is a lot lower than Ethereum’s ERC20 USDT token fee which is over 30 USDT. This is because the Ethereum network charges a fee for processing transactions.
- Wallets: Most trustworthy crypto wallets such as Ledger, Exodus, Trust, and more support both TRC20 tokens and ERC20 tokens. You do not need a unique ERC20 wallet or TRC20 wallet to invest or store ERC20 USDT tokens or TRC20 USDT tokens.
What are the Best Exchanges to Trade Using TRC20 USDT?
Following are some of the best exchanges to trade using TRC20 USDT –
KuCoin is a cryptocurrency exchange developed with venture capital money that offers unrivaled performance and services to its users. KuCoin is secure and easy to use for buying and selling cryptocurrencies and assets such as the TRC20 USDT. The KuCoin exchange platform offers excellent deals for both token issuers and liquidity miners. Users can use these tokens to receive special offers, trade discounts, and exchange profits.
Binance is the biggest crypto exchange globally in terms of volume and gives users access to many crypto assets, including Tether USDT tokens. Binance is the perfect choice for users looking to buy TRC20 USDT tokens with a massive user base, excellent liquidity, and low fee structure. Both Binance and KuCoin are useful for experienced traders looking for the lowest fees possible. These exchanges also have simple interfaces that allow newcomers to cryptocurrency to purchase their first USDT. Binance and KuCoin, both platforms that are two of the best exchanges to use if you want to invest in TRC20 USDT tokens.
Bitfinex is one of the best exchanges in terms of daily BTC / USD trading volume, which provides price stability and confidence for every trader based on fiat and digital currencies such as the US dollar bitcoin, Ethereum, and the Euro. Bitfinex has supported TRC20 tokens since 2019. Bitfinex provides access to real-time market data, advanced order types, customized charts, and trade notifications at your fingertips. If you are interested or have already become a serious trader, Bitfinex Exchange is the place for trading TRC20 USDT tokens. It is one of the affordable options as the spot trading fees are 0.10% for makers and 0.20% for takers.
XREX is another blockchain platform and Trade Tech organization that provides users with an excellent, straightforward exchange. XREX has support for many crypto assets, including TRC20 USDT. The exchange also provides XREX Circles that allow users to connect with others to become a part of a trading community for sharing experience and knowledge. With a low trading fee, XREX is one of the best platforms for trading USDTs for beginners and experienced traders.
FTX is a popular crypto exchange that was recently in news for raising $566 million in funding. It caters to a wide range of customer base including retail investors, family offices, and various institutional investors. It also allows users to trade using USDT TRC20 and ERC20 tokens.
List of Crypto Exchanges That Support TRC20-USDT tokens
The exchanges that currently support TRC20-USDT tokens include
- Binance
- XREX
- Huobi
- KuCoin
- Bitfinex
- Poloniex
- OKEX
- FTX
- Gate.io
- TRXMarket
- DragonEx
Final Words
Now that you know the differences between TRC20 and ERC20 USDT tokens, you understand why it is better to trade using TRC20 USDT tokens. Choosing the best exchange seems easy, but it never is. So try and select the best exchange that is easy to use and suited to your needs for the best trading experience.
FAQs
The USDT issued on TRC20 and ERC20 are both identical, however fees to transfer this USDT can often be cheaper on the Tron network using TRC20. Deposit addresses for these are always Ethereum addresses and these deposits / withdrawal transactions occur on the Ethereum network.
What's the difference between TRC20-USDT and ERC20 USDT? ›
What's the difference between TRC20-USDT and ERC20-USDT? TRC20-USDT refers to USDT issued on the TRON network, ERC20-USDT refers to USDT issued by Tether on the Ethereum network.
Which exchanges support TRC20 based USDT? ›
The exchanges that currently support TRC20-USDT include Binance, XREX, OKEX, KuCoin, Bitfinex, Poloniex, Bithumb, DragonEx, Gate.io, ZB.com, Bigone and TRXMarket. You can now enjoy better fees when you withdraw USDT from XREX with the support of TRC20-USDT, and the deposit fee is still free.
Does Coinbase accept TRC20-USDT? ›
Litecoin TRC20 is not currently supported across Coinbase's vast ecosystem.
Which network is best for USDT transfer? ›
If you are looking to transfer stablecoins from one wallet to another, the best known way is the Ethereum network (ERC-20).
Is Coinbase USDT ERC20 or TRC20? ›
The USDT on Coinbase is an ERC20 token on the Ethereum blockchain. At this time, Coinbase does not support the Tron blockchain TRC USDT.
How much is TRC20 transaction fee? ›
If the account transferring the TRC20 assets does not have sufficient energy, it will be charged a network fee of TRX 4.09668 (~USD 0.26), a huge cost for digital asset businesses processing high volumes of transactions daily.
Does Binance use TRC20 or ERC20? ›
Binance Will Change USDT Deposits & Withdrawals to be ERC20-based.
Is USDT on Kucoin ERC20 or TRC20? ›
The currency deposit address is the TRON blockchain address, with deposits and withdrawals taking place on the TRON network. The USDT-TRON is based on the TRC20 protocol.
Can I swap USDT TRC20 on PancakeSwap? ›
Choose the crypto exchange pair
Choose Tether TRC20 in the “You send” section. Next, enter the amount of USDTTRC20 you would like to exchange. Then select PancakeSwap in the “You get” section. Click the Exchange button.
TRC20, also known as USDT-TRON, is Tether's USDT that is issued on the TRON network. It is a technical standard token, and It works based on TRON's network or blockchain, using TRON's address, which means that all transactions made with the TRC20 take place on the TRON network.
Where to buy USDT TRC20 in usa? ›
Where to buy USDT (TRC-20) You can buy USDT (TRC-20) now via MoonPay. Just use your credit card and enter the desired Solana wallet address to purchase.
Can I withdraw USDT using TRC20? ›
What's more, users will be able to withdraw USDT from BitMEX in either its ERC-20 or TRC-20 form, no matter which network is used to deposit Tether. For example, if a user deposited USDT ERC-20 on BitMEX, and later wants to withdraw USDT, they'll be able to withdraw their Tether tokens via the TRON network.
Can I send USDT TRC20 to Binance us? ›
Binance has completed the TrueUSD (TUSD) TRC20 network integration. Deposits and withdrawals for TrueUSD (TUSD) are now open on the TRC20 network. Please find your assigned TrueUSD (TUSD) deposit address on the TRC20 network within the Deposit Crypto page here. Thanks for your support!
What can I do with TRC20 USDT? ›
TRC20 based USDT enables interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.
Which network should I use to transfer USDT to Coinbase? ›
Please note that Coinbase only supports ERC-20 USDT running on the Ethereum blockchain.
Do I need TRON to send USDT? ›
USDT-TRC20 is a token issued by the Tron blockchain. To swap USDT-TRC20, that required Tron (TRX) for gas fee. Prepare the same with other tokens. Make sure you have enough of the correct amount of token to pay for the gas fee.
What type of USDT does KuCoin use? ›
KuCoin users will be able to deposit and withdraw USDT in four forms: ,USDT-TRON, USDT-ERC20， USDT-EOS and USDT-Algorand.
How do I know if my USDT is ERC20 or TRC20? ›
The exchange will make it clear what type of chain they are using; however, one easy way to differentiate between these two is by the way the address is structured. An ERC20 Address only starts with '0' and 'x'. For example: 0xbc6e. A TRC20 Address only begins with a capital 'T'.
Where to buy USDT with no fees? ›
Exchange Seamlessly
Swap any asset for USDT with zero fees and fixed-price execution on Nexo's Crypto Exchange.
People who do their transactions to pay for services typically pay in USDT TRC-20, but the downside is that since it's from a different network, you can't send this to an ERC-20 wallet (MetaMask is ERC-20). To be clear, you won't receive your TRC-20 token in MetaMask because that's impossible.
Which wallet is best for TRC20? ›
But, BitKeep does support TRC20 USDT in its wallet.
...
Here are the best Tether wallets detailing their features and advantages.
- 1 CryptoWallet #1 Recommended. ...
- 2 Tether Wallet. ...
- 3 MyEtherWallet. ...
- 4 OmniWallet. ...
- 5 Coinomi. ...
- 6 Binance Wallet. ...
- 7 Ledger Nano X.
You need to activate your Tron account before depositing TRC20 tokens. You first need to send at least 0.1 TRX to this address to enable TRC20 deposit.
Why is TRC20 suspended? ›
19.04. 2021 г. #Binance has temporarily suspended withdraws for: 🔸 BNB (BEP2) 🔸 BNB (BEP20) 🔸 USDT (TRC20) This is due to a build-up of withdrawal requests.
Can I send USDT from ERC20 to TRC20? ›
USDT is a cryptocurrency issued by Tether, that is compatible with the Ethereum/ERC20 and Tron/TRC20 networks. Tether and Tron first announced a collaboration to list a USDT compatible with the TRC-20 standard in April 2019.
Does Metamask support USDT TRC20? ›
To clarify, you are unable to add the TRC20 version of USDT to your Metamask wallet, as Metamask does not support the Tron network.
How to swap USDT TRC20 to USDT ERC20 on trust wallet? ›
exchange in 3 easy steps
- Enter the desired amount of Tether (TRC20) and write your wallet address to receive currency.
- Send Tether (TRC20) to the address from your order, after the required network confirmation, Tether (ERC20) will be sent instantly.
Symlix is a peer-to-peer marketplace where users buy, sell and exchange cryptocurrencies. The platform offers secure Tether TRC20 trades and live chat for users to communicate with each other.
Does KuCoin use TRC20? ›
KuCoin has now opened the TRC 20 and AVAX deposit and withdrawal services for TrueUSD (TUSD). Users can check the Assets> Main Account> Deposit/Withdrawal page and select the TUSD (TRC20)\TUSD(AVAX) network for transactions.
Can I swap USDT-TRC20? ›
Enter the amount of USDT-TRC20 you want to trade for TRX. Enter your wallet's recipient TRX address. Send the USDT-TRC20 you want to convert from. Receive your new TRX.
Please be informed that you cannot trade TRC10 nor TRC20 tokens in the app. You need to deposit it on an exchange (like Binance.com) so you can convert it.
How do I transfer money using USDT-TRC20? ›
Click on the Portfolio tab. Scroll down to the Tether USDT wallet and click “Send”. Next, you will whitelist your send address by clicking “add address”. On this screen you can whitelist a ZoomMe handle or whitelist an external network, choosing either TRON or Ethereum.
What is the difference between TRC20 and ERC20 address? ›
The exchange will make it clear what type of chain they are using; however, one easy way to differentiate between these two is by the way the address is structured. An ERC20 Address only starts with '0' and 'x'. For example: 0xbc6e. A TRC20 Address only begins with a capital 'T'.
Can I send USDT from TRC20 to ERC20? ›
USDT should only be deposited to your ERC-20, TRC-20 generated address. USDT deposits to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) or Tron (TRX) generated addresses will not be credited and cannot be recovered.
What happens if you send TRC20 to ERC20? ›
No, don't send USDT (ERC20) coin to USDT (TRC20) wallet address or vice-versa you will lose your funds forever.
Does TRC20 have fees? ›
If the account transferring the TRC20 assets does not have sufficient energy, it will be charged a network fee of TRX 4.09668 (~USD 0.26), a huge cost for digital asset businesses processing high volumes of transactions daily.
