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.
