You Can Now Send And Receive USDT Cheaper On Pandar | Pandar Help Center (2024)

USDT (Tether) is an ERC20 token. This means its transactions occur on the Ethereum blockchain, which requires that you’d need to pay a fee in ETH to ensure your transaction is confirmed.

This also means that you will need an amount (often considered ridiculous) of ETH to Swap your USDT for any other cryptocurrency within the Blockchain Wallet or send it externally to a third-party exchange or platform.

But, what if we told you that from today henceforth, you'll be able to send USDT for fewer fees on the Binance Smart Chain (BSC) network instead of the Ethereum network?

The Ethereum network has offered nothing less than new opportunities in crypto; however one can only think of a thousand and one miseries when they recall the $40 - $200 charges per transaction. Unfortunately, USDT happens to be on that network.

What if we told you that you can now spend less than $2 to send USDT out of your Pandar wallet? 😎🌚

Here’s How Will This Work

Using the Binance Smart Chain (BSC) Network. Up until now, you've only been able to send USDT. To compare, sending $20 worth of USDT costs about $0.05 - $2 while that same transaction on the Ethereum network costs $40.

There are a few important things to note about this update:

  • Your USDT balance stays the same.

  • You will be able to receive USDT BEP20 into your Pandar wallet

  • You will still receive USDT ERC20, but you can only send it out as a BEP20 token.

To read more articles like this, visit https://help.pandar.ng/en.

You Can Now Send And Receive USDT Cheaper On Pandar | Pandar Help Center (2024)

FAQs

What is the cheapest way to send Usdt? ›

Binance. If you are looking for a reliable and affordable place to transfer USDT, Binance is the go-to option for many crypto users. Due to its low transfer costs, which make it a desirable option for sending USDT, Binance is a personal preference of many users.

How to get free USDT? ›

USDT is available for free on several platforms which include Binance, Idle-Empire, and so on. Many crypto projects are giving out USDT for free by completing social tasks such as liking, retweeting, and commenting on social media posts as the case may be.

What can I use to receive Usdt? ›

There are two ways to receive USDT in your Rain account, either using your USDT Address or a QR code.

How do I receive Usdt from someone? ›

Receiving and Depositing Tether (USDT)
  1. Log in to your Paxful account and head to the Wallet page.
  2. Look for Tether (USDT) currency under Assets and click RECEIVE.
  3. From there, you can copy your Tether wallet address or use the QR code. Please make sure the amount you'll be receiving is worth more than the fee!
Feb 7, 2023

What is the cheapest way to send and receive crypto? ›

Using the Lightning Network is a faster and cheaper way to send and receive bitcoin transactions. There are typically little to no fees involved, and it's used to send smaller amounts of bitcoin.

Does transferring Usdt cost gas? ›

All 4 blockchains have their own base (gas fee) currency.

You need to pay gas to transfer USDT. You might think that the commission might be taken from your USDT amount, but this is not the case! You need to have another currency (base blockchain currency) in the same wallet to be able to move your USDT.

How does USDT stay at $1? ›

The stability of Tether comes from its currency reserves, as the company claims to hold dollars and other assets that are equal or greater than the total number of USDT in circulation.

Is Usdt risk free? ›

Overall, USDT is vulnerable to financial, legal, and security risk.

How do I claim 100 Usdt on Binance? ›

Once the friend you invited via your Lite Referral Link/ID registers for a Binance account and completes Identity Verification, you'll earn USDT rewards. After you accumulate 100 USDT worth of rewards, you can claim a 100 USDT Binance Gift Card.

What is the fee for sending Usdt from Coinbase? ›

Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions.

How to send USDT without Ethereum? ›

Your best bet is to use a relay service: Sign the transaction, send it to someone with ether, pay them in USDT and let them execute the transaction on the blockchain.

What is the cheapest way to send USDC? ›

Cheaply Send USDC & USDT with Solana & Avalanche

The cheapest blockchains to use when it comes to cheaply transfer USDC & USDT are Solana and Avalanche. Solana transaction fees can be as low as $. 0001 while Avalanche's transaction fees have an average transaction fee of around $0.30.

Can you send Usdt on any network? ›

When sending USDT or any other cryptocurrency, it is important to ensure that you are sending it to the correct network and address compatible with that specific token. Different networks, such as Ethereum, Binance Smart Chain, or TRON, have their own unique addresses and protocols for handling tokens.

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