USDT is a stablecoin that can be a vital asset in the crypto industry. It’s great for navigating turbulent market times, but it also uses DeFi services and other dApps on blockchains. Ethereum is the network where most USDT coins are located.
However, if you want to use the asset on Tron, it’s possible to swap USDT ERC20 to TRC20. Here’s a detailed guide on how to do it!
Understanding USDT ERC20 and TRC20
While it is the same token, the difference is in token standards. You can use USDT ERC20 tokens on the Ethereum network. However, if you want USDT to be available on the Tron blockchain, it’s necessary to have coins created under the TRC20 token standard.
The key difference is in compatibility with the underlying blockchain technology. ERC20 coins are all compatible with the Ethereum ecosystem, and the transactions might be somewhat slower and pricier. With TRC20 coins, you’ll benefit from faster and more affordable transactions, but the Tron ecosystem is smaller than the one on Ethereum.
Step-by-Step Guide to Swapping USDT ERC20 to TRC20
Most major exchanges support USDT across different networks, considering this token has multi-chain support. In this guide, we’ll discuss how you can swap USDT ERC20 to TRC20 on Godex. It’s an anonymous and non-custodial exchange with over eight years of tradition. You can rely on it to swap hundreds of different cryptocurrencies without maximum limitations.
Here’s a guide to follow when trading on Godex:
- Access the exchange. Godex is available via web browsers, but if you prefer, you can use a free mobile app. You’ll immediately notice the section where you can start the exchange.
- Choose the sending currency. In the “You Send” field, scroll down and pick USDT. You can also type USDT to search for the currency. Once you select it, make sure to choose ETH as the blockchain. That means you picked the ERC20 token standard.
- Select the receiving currency. Check out the “You Get” field and pick USDT as the receiving currency. The system will offer the available networks – you want to find and select TON.
- Check out the rate and start the exchange. The minimum amount to convert is 160 USDT. After you enter the desired sum, the system will show the current trading rate. We suggest locking it if you are happy with it to secure the guaranteed terms. If the rate stays floating, it might be subject to change before you initiate the transaction.
- Enter the receiving wallet’s address. Make sure you type the correct address, and you can also add a memo for the transaction. Click on Exchange to proceed.
- Send coins to the deposit address. Godex will display the wallet where you should send USDT ERC20. After you transfer the coins, you will receive confirmation, and the system will swap the sum.
- Transaction completion. You don’t have to do anything anymore. Sit back and relax until Godex finishes the transaction.
Would you like more trading opportunities? Check out the XYO price prediction to learn if this coin is the right choice for your portfolio.
Common Issues and How to Solve Them
The most common problems regarding the USDT transfer from Ethereum to the Tron network aren’t that different from standard crypto issues. Here’s what you may face during the trading process:
- Transaction processing delays. Ethereum frequently faces congestion issues, which could lead to delays in processing your transfers. The solution can be to patiently wait or try to execute the transaction at a different time. You can always contact the exchange support for more details.
- Insufficient wallet balance. The conversion will cost a certain amount of coins for the gas fee and the exchange charge executing the transfer. You should have enough funds in your wallet to cover all these. If there are insufficient funds, you can lower the transaction amount or load the wallet with more USDT ERC20 tokens.
- Keep yourself safe from scams and phishing attempts. The best way to do this is to stick to reputable exchanges. Always double-check the wallet addresses, and don’t trust anyone asking for more personal details than you are willing to provide. You can anonymously conduct a USDT ERC20 to TRC20 swap without providing your personal data.
Making the Most of Your USDT Token Swap
Try to choose the right timing, which primarily means avoiding peak hours on Ethereum. Don’t hesitate to consult technical indicators and other tools to figure out the best time for the trade. You can initiate the transaction with a few clicks on Godex. Just make sure to set all parameters right, including the sending and receiving network and wallet addresses. From there, it shouldn’t take more than a few minutes for the transfer to finalize.
