Have you encountered confusing terms like "TRC20" and "ERC20" when transferring USDT?
Do not worry! If you understand the concepts of blockchain or Proof-of-Work, then it will not be difficult at all. Read the article to the end so that the following transactions go as you want.
For starters, TRC20 and ERC20 are two networks that run on different blockchains. ERC20 is based on Ethereum, TRC20 is Tron's blockchain network, created as an alternative to the ether network that conducts transactions faster and cheaper.
Note that TRC-20 and ERC-20 are network protocol names. Yes, just a hyphen, but it changes the meaning of the term. In simple words, without a hyphen, these are the names of networks, with a hyphen - the rules of operation in these networks.
TRC20: why and wherefore
TRC20 allows users to transfer and exchange tokens without exchange platforms or centralized services like Coinbase or Binance. This means there are no commissions associated with transferring funds between different wallets, so many prefer to use this method.
If you don't have TRX, but you want to make a transaction on this network, Any.Cash can solve this problem. In this crypto wallet, the process is automated, and the TRX-expenses are taken over by the platform.
ERC20: why and wherefore
The ERC20 network is a decentralized network that allows the creation, issuance and exchange of custom tokens. The network is built on Ethereum and has a standard set of rules that all tokens must follow. This network is considered more reliable and has more features, but for a simple transfer of USDT, TRC20 is more often chosen.
Conclusions
Cryptocurrency transactions require that the network used during the transfer matches: ERC20, TRC20 or, for example, Omni. Using an ERC20 wallet to transfer TRC20 will result in a loss of money. Also, if you first wanted low fees, and then you want to send your USDT to ERC20 - you won't be able to do it. Therefore, think in advance which network to choose.
For your convenience, the Any.Cash crypto wallet works with both networks and reminds you of the importance of the correct address. Follow the link and discover convenient and affordable crypto transactions.
