The Importance of Knowing the Type of USDT Network

[Suba]

There are several types of USDT networks (blockchains) that we can find out there. In general, crypto exchanges support various networks such as: Algorand, BEP20, Ethereum, EOS, Liquid, Omni, Solana, TON and Tron. While Coinbase only supports USDT-ERC20, so you have to make sure the wallet you are going to supports the same blockchain. If you are going to send USDT BEP20 from Binance to Coinbase, make sure you choose the Ethereum network and you must also have Ether for gas fees.

 

[Kross]

I have just avoided this USDT because of the many networks associated with it. I really won't want to make a mistake transacting with it.

 

[Stardom22]

I only use the stable coins, USDT when buying or selling crypto currency. I really have never experienced any downfall on the using of the network's for sure.

 

[Xtynehappy]

That's why l consider the using of the Coinbase as very stressful for me. It's not conveniently for most people in my region

 

[Suba]

I am also a Coinbase user, but unfortunately Coinbase only supports Ethereum blockchain USDT, so when making transactions we have to pay high Gas fees.

 

[riberet19]

I remember losing money the first few times I traded USDT, since then I learned to identify the different USDT networks so that it would never happen to me again.

 

[Min George]

One of the things that people need to learn with crypto is how to identify networks. Failure to do so can ruin your entire crypto journey.

 

[Augusta]

Yes it is important to know the network so that you don't lose money at your own end when transacting with others

 

[Kera]

It is not something that you would do without. You must be aware of the USDT network so that you don't lose your funds.

 

[Fidelia]

If you don't know the USDT network and you just send randomly x your funds are gone and there is nothing anyone can do to recover it for you.