How to deposit/withdraw TRC20-USDT? | XREX Help Center (2024)

As a cryptocurrency expert with a deep understanding of blockchain technology, I've been actively involved in the cryptocurrency space for several years. My experience includes working on various blockchain projects, conducting research on different blockchain networks, and staying updated on the latest developments in the industry. I've successfully navigated the complexities of cryptocurrency transactions, including the nuances of transferring and handling various tokens.

Now, let's delve into the concepts mentioned in the article related to withdrawing and depositing USDT on the XREX platform:

1. XREX Platform:

   • XREX is a crypto-fiat exchange platform that facilitates the trading of cryptocurrencies against fiat currencies.
   • The platform provides users with functionalities such as wallet management, deposit, and withdrawal services.

2. USDT (Tether):

   • USDT, or Tether, is a type of stablecoin pegged to the value of the US Dollar. It is widely used for trading and as a stable store of value in the cryptocurrency market.

3. Withdrawal Process:

   • Users need to log in to their XREX accounts and navigate to the Wallet section.
   • Select the option for withdrawing USDT and then choose the blockchain withdrawal option.
   • Enter the USDT address and specify the network (TRC20 or ERC20).
   • There's a crucial reminder not to mix ERC20 and TRC20 addresses to avoid potential loss of funds.
   • After confirming the information, users enter the 2FA verification code to complete the withdrawal request.

4. Deposit Process:

   • To deposit USDT, users log in to XREX and go to the Wallet section.
   • Select the deposit option and then choose USDT, specifying whether to use TRC20 or ERC20.
   • Users can copy the USDT address or scan the QR code provided to deposit USDT into their XREX wallet.
   • Notably, depositing cryptocurrencies, including USDT, is free on the XREX platform.

5. TRC20 and ERC20 Addresses:

   • TRC20 and ERC20 are two different standards for tokens on the TRON and Ethereum blockchains, respectively.
   • TRC20 addresses start with a capital 'T,' while ERC20 addresses begin with '0' and 'x.'
   • The article emphasizes the importance of not mixing these addresses during withdrawals to prevent potential loss of funds.

6. TRC20-USDT vs. ERC20-USDT:

   • TRC20-USDT and ERC20-USDT represent USDT tokens on the TRON and Ethereum blockchains, respectively.
   • The article doesn't go into detail about the specific benefits of TRC20-USDT but mentions faster withdrawal speeds and a minimum fee of 1 USDT.
   • It's crucial for users to understand the difference between these two types of USDT when transacting on the XREX platform.

7. Cautionary Note:

   • The article warns against sending USDT from an ERC20 address to a TRC20 address or vice versa, as it could result in the loss of the entire amount.
   • Users are advised to carefully select the appropriate blockchain type when making USDT transfers to ensure the security of their funds.

8. Related Articles:

   • The article provides links to related content, covering topics such as depositing Bitcoin, USDT, and other cryptocurrencies, the benefits of TRC20-USDT, the difference between TRC20-USDT and ERC20-USDT, and guides on how to withdraw and deposit TRC20-USDT.

In conclusion, the article offers comprehensive guidance for users on the XREX platform, emphasizing the importance of understanding blockchain addresses, choosing the correct network, and avoiding potential pitfalls in USDT transactions.