USDT and USDC coins transactions are going to have zero transaction costs. This is good news for the crypto community on the Bitgert chain. It will make the transaction of these stable coins affordable to the users.
This is because sending ETH just costs the minimum gas fee of 21,000 for a transaction. But USDT is an ERC20 token, which means when you transfer it, you interact with a smart contract and every single instruction in the transfer function the USDT smart contract will cost some gas, on top of that base 21,000.
How long does USDT transfer take?
USDT ERC20：Based on the Ethereum network, same time as the Ethereum Token transfer, it usually takes 10-20 minutes to be credited.
Can you transfer USDT to bank?
You have successfully sold your USDT to Yellow Card. The amount would instantly reflect in your Naira wallet. You can then proceed to withdraw your funds directly to your bank account: Tap “Withdraw” and enter the amount you would like to withdraw.
Is USDT safe?
After the TerraUSD/Luna collapse, all eyes have been on whether Tether (USDT) can maintain its peg. And at least over the past week, the answer has been a clear yes.
Why is USDT so popular?
Tether (USDT) is a popular stablecoin that crypto enthusiasts have used for years to leverage their cryptocurrency trades. USDT is pegged to the U.S. dollar, and in theory it should be unaffected by the market volatility that can so dramatically impact the valuation of other cryptocurrencies, such as Bitcoin.
Should I buy in USD or USDT?
While USDT is used more frequently for trading and payments, USDC is often described as a safer stablecoin since Centre makes a greater effort to comply with audits and governmental regulation, and has more transparent, fully-backed reserves.
Does USDT have transaction fee?How do I sell USDT on Binance?
Click [Sell] on the top of the P2P trading page, select a coin (taking USDT as an example here), then select an advertisement and click “Sell”. (1) Enter the quantity you want to sell, (2) select a payment method, and click “Sell USDT” to place an order. The transaction will now display “Pending Payment”.
How do you use USDT?
Tether Version
Processing Time
Number of Confirmations
Tether USD (USDT) ERC20
5 minutes
20 confirmations
Learn about usdt in this video:
Does USDT have transaction fee?Is USDT a coin or token?
Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed “100% by Tether’s reserves,” according its website.
Why does it cost so much to transfer Tether?
Paying too much in fees The amount of fees you pay when buying Tether depends on two factors: The crypto exchange and the payment method. Reputable exchanges all tend to have competitive fees. If you pick a good exchange, then you can expect to pay a reasonable amount.
Why does it cost so much to send USDT?
Why are the fees to send USDT so high? USDT is a native ERC20 token, hence the main method of sending USDT will be via the ERC20 network. Due to the congestion on the ERC20 network, the fees to send USDT are high to incentivise the miners to process your transaction first over other transactions.
