Can someone explain the TRC 20 associated with USDT wallets?

Niyi Briggs

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• Jun 5, 2023

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I have tried creating USDT wallet addresses on cryptocurrency wallets and even exchanges and I am always seeing different options and first among them is always the TRC 20. I am not cryptocurrency savvy.

Can someone explain the concept of this TRC 20? Can I use it to receive any USDT payment?

 

Suba

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• Jun 5, 2023

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TRC 20 means all tokens running on Tron blockchain, Tron network process is faster and cheaper than Ethererum ERC20 network. The way to tell the difference is that the TRC20 token address starts with the letter T, while the ERC20 address starts with 0. Of course you can receive, store and send TRC20 tokens with supported exchanges and wallets.

 

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Bisolami

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• Jul 6, 2023

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Niyi Briggs said:

I have tried creating USDT wallet addresses on cryptocurrency wallets and even exchanges and I am always seeing different options and first among them is always the TRC 20. I am not cryptocurrency savvy.

Can someone explain the concept of this TRC 20? Can I use it to receive any USDT payment?

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That is true. There is one other one apart from TRC20 and I always wonder what the use is for. The crazy thing is that if you send from TRC20 wallet to another USDT wallet that is not for TRC, you will lose your money

 

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Rubz

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• Jul 11, 2023

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Funny enough, i have also wondered about the TRC 20 associated with the USDT wallet, and i would also like to know about the whole concept of this TRC 20.

 

Suba

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• Jul 11, 2023

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Faucetpay also uses Tether TRC20 (USDT), so you can use faucetpay to temporarily store the Tether TRC20 tokens you receive, but first you have to create a Tether TRC20 address by clicking deposit and selecting the type of Tether TRC20 (USDT) coin.

 

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Smalto

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• Jul 20, 2023

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Thanks very much for the clear and concise explanation, I think I have got to learn few things from the question asked, because at some point in time, it usually gets me confused.