When making a USDT transfer, many users are presented with a choice of three different chain types that are available, at which point users may face the situation that they don't know which chain type to choose when depositing and withdrawing.
At Bequant Global we currently support USDT OMNI, USDT ERC20 and USDTRX. The differences between the different chain types are described in detail. Please refer to the table below.
OMNI | ERC20 | TRC20 | |
Address Style | Begin with a number 1 or 3 Example: 183hmJGRu... | Starts with ‘0’ and ‘x’ Example: 0xbd7e.... | Beginning with a capital T Example: T9zP14.... |
Network | Bitcoin (BTC) Network | Ethereum (ETH) Network | Tron Network |
Transfer Speed | Slow (Ranging from 0.6-2 hours) | Ranging from a few minutes to tens of minutes. | Fast (Ranging from a few seconds to a few minutes) |
Safety | Highest | High | Moderate |
Usage Advice | Large amount Low-frequency | Medium amount Trading options | Small amount, High-frequency |
USDT-Omni is the USDT issued by Tether based on the BTC network. The currency deposit address is the BTC address, with deposits and withdrawals taking place on the BTC network. The protocol used by USDT-Omni is the Omni layer protocol built on the BTC blockchain network.
USDT20-ERC20 is the USDT issued by Tether based on the ETH network. Its deposit address is the ETH address, with deposits and withdrawals taking place on the ETH network. The protocol of USDT-ERC20 is the ERC20 protocol.
USDT-TRC20 is the USD-pegged stablecoin issued by Tether on the TRON network. The token will be able to complete issuance, holding and transfer via smart contract on TRON, with a completely free and transparent process, zero transfer fee, and instant delivery.
If you deposit USDT20 to your Bequant Global account, you will need to convert these funds to USDT first to start trading. These two stable coins have the same value, but markets are open for USDT only. You won't see any market for USDT20 open in our Instruments.
After you're done trading, you can convert your USDT back to USDT20 if you would like to withdraw your funds to your ERC-20 wallet.
Note: Since the USDT in the three networks are not interoperable, users should carefully check if the address is correct when depositing and withdrawing. In order to avoid unnecessary losses due to wrong address, special attention should be paid to the different address styles of the three types of chains. Each type of chain has its own advantages and disadvantages, users can choose according to their own assets. If you choose a wrong address, please contact Bequant Global Customer service immediately.
You can perform a direct conversion between USDT and USDT20 and you don't need to take an extra step of placing an order. Here's how it's done.
1. Go to your Account page.
2. Select USDT or USDT20 coin, below you will see ''Convert to USDT20/USDT20' line to see button. Make sure that you have funds on the Wallet section of your account or else conversion won't be possible.
3. If you already have the coins that you'd like to convert (USDT or USDT20), just go ahead and click "Convert to USDT20/USDT20".
4. A new panel will open where you should enter the amount that you would like to convert and click "Convert." The funds will be instantly transferred to your USDT account (if you're converting USDT20) or to your USDT20 account (if you're converting USDT).
Done! Now you can use the transferred funds for all of your trading needs or withdraw them.
Note: Alternatively, you can use an API method to convert USDT to USDT20 and vice versa. The conversion method is described in our API documentation.
I'm an expert in cryptocurrency and blockchain technology, and I'll dive into the details of the concepts mentioned in the article about USDT transfers on Bequant Global. My expertise comes from a deep understanding of the underlying technologies, protocols, and practical applications in the cryptocurrency space.
Let's break down the key concepts mentioned in the article:
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USDT Chain Types:
- USDT OMNI: This is Tether's USDT issued on the Bitcoin (BTC) network. The currency deposit address is a BTC address, and transactions occur on the BTC network. The protocol used is the Omni layer protocol on the BTC blockchain network.
- USDT ERC20: Tether issues this variant on the Ethereum (ETH) network. The deposit address is an ETH address, and transactions take place on the ETH network. The protocol used is ERC20.
- USDTRX (TRC20): This is Tether's USD-pegged stablecoin on the TRON network. Transactions are completed via smart contracts on TRON, providing a transparent process, zero transfer fees, and instant delivery.
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Address Styles:
- USDT OMNI: Begins with a number 1 or 3 (e.g., 183hmJGRu...).
- USDT ERC20: Starts with '0' and 'x' (e.g., 0xbd7e....).
- USDTRX (TRC20): Begins with a capital 'T' (e.g., T9zP14....).
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Networks and Transfer Speed:
- USDT OMNI: Bitcoin (BTC) Network, Slow transfer speed (0.6-2 hours).
- USDT ERC20: Ethereum (ETH) Network, Transfer speed ranging from a few minutes to tens of minutes.
- USDTRX (TRC20): TRON Network, Fast transfer speed (a few seconds to a few minutes).
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Safety and Usage Advice:
- USDT OMNI: Highest safety, recommended for large amounts but low-frequency usage.
- USDT ERC20: High safety, suitable for medium amounts and trading options.
- USDTRX (TRC20): Moderate safety, recommended for trading small amounts with high frequency.
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Conversion Process:
- Users can convert between USDT and USDT20 directly on the Bequant Global platform without placing an order.
- The conversion involves selecting the coin, entering the amount, and clicking the "Convert" button.
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Caution:
- Addresses of the three chain types are not interoperable. Users should double-check the correctness of addresses to avoid losses.
- Each chain type has its advantages and disadvantages, and users should choose according to their assets.
In summary, the article provides comprehensive information about the three USDT chain types, their characteristics, and guidance on choosing and converting between them on the Bequant Global platform. If you have any questions or need further clarification, feel free to ask.
