Be careful while sending tether

[BitcryptoHan 2557]

I have noticed some people do not know much about tether, that is why they do send to wrong address. Tether is built on three blockchains:

1. Bitcoin omini layer

This is built on bitcoin blockchain, and it has the same address with bitcoin legacy address that start with 1. So the tether addressed of this kind start with 1.

 

2.  ERC-20

This type of address start with 0x, it is the same as ether addresses. It is built on ethereum blockchain. 

 

3. TRC-20 

This is built on Tron blockchain, the address is the same as tron addresses and start with T. 

 

Most exchanges are using ERC-20 for tether, but it is good to check this before sending tether. And also, make sure you did not send bitcoin, ether or tron to the corresponding addresses for one reasons or the other that can let you permanently lose your funds. 

 

[rekter 8129]

56 minutes ago, BitcryptoHan said:

Most exchanges are using ERC-20 for tether, but it is good to check this before sending tether. And also, make sure you did not send bitcoin, ether or tron to the corresponding addresses for one reasons or the other that can let you permanently lose your funds. 

 

I haven't actually ever send tether from an exchange, but can you even send tether cross platforms with those combinations? As bitcoin differs heavily from those two.

[BitcryptoHan 2557]

37 minutes ago, rekter said:

I haven't actually ever send tether from an exchange, but can you even send tether cross platforms with those combinations? As bitcoin differs heavily from those two.

I am not certain if the transaction will be invalidated. But, I am certain that if the transactions is validated, it will only lead to loss of the coin. It will not even be possible to recover it again. 

Edited September 20, 2020 by BitcryptoHan

[nykas 2812]

I discovered this information some time ago when tried to withdraw my funds from Binance. It's much more comfortable to use USDT on TRC-20 blockhain. Fees are lower and transactios are faster

[Nicole018 4548]

I had no idea about the concept of tether. This post has enabled me to understand the concept of tether. Thank you for providing with such an informative topic. Now I can use tether for practical purposes.

[cryptovlek 2597]

Thank you for reminding us and we must be very carefull with this tether that if we are to move to an wallet to be sure to use the correct because we may make mistake in this and send the Tron Tether by mistake to Etehreum wallet and lose it all, this is important and thank you for the reminder.

[Trader21 1199]

Firstly we must be aware of sending our coins to other wallets, it doesn't matter we are talking about sending Tether or any coin. That is why if you have made something wrong, that means you lose your money and there is not any way to get back your money. But thank you for sharing this information with us, there can be some people who have not knowledge about that and through your post they would learn about that.

[Moaz 7239]

This is completely true, I had a great confusion when I wanted to send the Tether coin from one of the platforms, and I was surprised that there was more than one address to receive, and I did not have this information that you explained in your topic about the addresses of the Tether, and for me I think that it is the best address you can send to him.  It is TRC-20 because it charges low compared to Ethereum ERC-20

[bitcoin-shark 1928]

in recent times tether is gaining more and more importance in the crypto world and has overtaken ripple in third place in the coingecko ranking perhaps for its high interests in the various defi sites, however it is true and easy to get confused before sending, making a transaction with usdt v you need to check which blockchain they are on, binance offers the possibility to send them on any blockchain of our free choice

[malik6314193 5449]

I also know and thanks for sharing it will help beginners to learn about it. Basically mostly exchange use erc 20 usdt token instead of others two. Now usdt is getting popularity because mostly traders trade in usdt pair. 

[Michaelx018 0]

I had no clue what tether was. Can anyone explain to me what erc 20 is ?, I am also not really Thourugh on the topic of blockchain what exactly is a blockchain can anyone please explain it to me.

[Maaz sultan 265]

Before that i dont know about the different addresses of tether coin now i do very carefully before making any USDT transaction . Thanks

[Honny143 13612]

Since i join crypto I never do any transaction in tether coin, so I have no proper information about this tether coin, but your topic really useful for me,

through your topic I learn  tether coin support 3 block's chain its quite interesting, so its now very important to check send address if we put wrong address, then might be case to loss our assets, thanks to share this information.

[George10 9932]

@BitcryptoHan I appreciate you on this vital information you have shared with us it's helpful and we shouldn't only be cautious upon sending tether but even to other crypto currencies so that we reduce the risk of sending our crypto to wrong addresses thus causing us to lose and I know many will find help from your topic and get saved from this error.

[annayks 2314]

Thanks very important to not make this mistake. I don't use Tron network but maybe I will one day. Also I heard that Tether will be on many blockchains and have created a token in more but have not issued USDT yet. I don't know if OMG is running it's own blockchain but they use this too lately and they have plans for Bitcoin Cash too.

[Crypto Master 541]

6 hours ago, eliottalderosn said:

thank you mate !

Bro you should need to make at least 100 character in every post you should first read the rules of the forum then start making posts if you keep making posts this short maybe you can get a warning point form moderates so be very careful.

[Pathakayush 213]

I had no prior knowledge of tether, so thank you for making to aware to this, I know that this is gonna help me out in future for sure.

[rekter 8129]

16 hours ago, Michaelx018 said:

I had no clue what tether was. Can anyone explain to me what erc 20 is ?, I am also not really Thourugh on the topic of blockchain what exactly is a blockchain can anyone please explain it to me.

Erc20 is a token that lives inside Ethereum ecosystem and needs eth (or gas) to be moved. We could say just "Ethereum token" instead of erc20 as most of the tokens build on ethereum are erc20 but it's shorter to say and there are other standards as well for example erc721 and erc1155

[Sanjana321 6]

I was not knowing the word tether what does it means, But now I came to be aware of this because of your topic and thanks for your kindness to share with the cryptotalk family.

[Yomose 3704]

35 minutes ago, SilverF said:

I did not know this information, I really had no idea that USDT worked under three different algorithms,

Try to read the topic very well, it is not 3 different algorithm but 3 different blockchain. There was also another one I read about recently which is created by binance, but it is not yet recommended for sending tether. 

[P A Ashif 2409]

Not only tether. Every time when you linked with crypto you have to be careful. The reason I am saying this because you are surrounded by scammers and hackers in the crypto world. And one mistake can be very riskier. So checked twice while sending your coin to any wallet 

[iloveyobit 6599]

I agree with you, the wallets should be monitored many times, fortunately on the binance platform, it automatically gives you an alert when you make a mistake in choosing the appropriate wallet for sending .

[Raqeebzy 6456]

On 9/20/2020 at 10:32 AM, BitcryptoHan said:

. TRC-20 

This is built on Tron blockchain, the address is the same as tron addresses and start with T. 

I haven't been transacting or trading Tethers (USDT), so some of this actually looks new to me, I wasn't aware Tether can be sent/receive through Tron blockchain, this comes well; I might be surprised if I hadn't seen this. Good topic.

 

[Ridam 7455]

@BitcryptoHan  That's why we must pay attention while withdrawing and depositing Tether. I think you have missed another network that is Bep2 mostly available in Binanace exchange. And most of the exchange accept deposit and withdraw in Erc-20 so there may be mis-understanding to the new users specially while doing transaction.

 

[Digital 387]

On 9/20/2020 at 10:32 AM, BitcryptoHan said:

I have noticed some people do not know much about tether, that is why they do send to wrong address. Tether is built on three blockchains:

1. Bitcoin omini layer

This is built on bitcoin blockchain, and it has the same address with bitcoin legacy address that start with 1. So the tether addressed of this kind start with 1.

 

2.  ERC-20

This type of address start with 0x, it is the same as ether addresses. It is built on ethereum blockchain. 

 

3. TRC-20 

This is built on Tron blockchain, the address is the same as tron addresses and start with T. 

 

Most exchanges are using ERC-20 for tether, but it is good to check this before sending tether. And also, make sure you did not send bitcoin, ether or tron to the corresponding addresses for one reasons or the other that can let you permanently lose your funds. 

 

Thanks for educating us with an informative content I have no idea about tether address untill now , this can save many people from transferring wrong tether address and end up loosing their funds.