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This article discusses TRC-20 & ERC-20 and their differences.
Zerocap supports TRC-20 USDT token deposits and transfers.
USDT TRC-20 offers numerous benefits to the user including:
- Offering faster transaction speeds than its ethereum counterpart, with transaction finality in seconds, as opposed to minutes.
- Cheaper network fees, averaging around 2 USDT per transfer, significantly cheaper than ERC-20’s 30 USDT.
- Less network congestion, and lower fees empowering high frequency trading with small to medium token amounts.
When depositing & withdrawing USDT from your Zerocap Portal:
Ensure to select the correct network associated with the token you are sending (currently only ERC-20 or TRC-20), this can be done by selecting from the drop down menu on the deposit / withdrawal windows pictured below:
In Your Wealth Portal, Select the Asset you wish to Deposit
Deposits - TRC-20
Deposits - ERC-20
Withdrawals - ERC-20 & TRC-20
After selecting the USDT token network and indicating your deposit amount, a confirmation prompt will appear. It is extremely important that the network and address is double checked prior to confirmation, in order to avoid potential loss of funds.
A quick way to double check this is to look at the start of the address:
- A TRC-20 address will feature a T…. at its beginning
- Where an ERC-20 token address will show a 0x…
Please note that prior to withdrawal, an external address must also be whitelisted and undergo a 24 hour ‘cooldown period,’ where funds are not able to be withdrawn.
This ‘cooldown period’ is put in place to guarantee the safety of client funds, however in extreme circumstances this ‘cooldown period’ may be bypassed (please put through a request over the portal intercom).
Why isn’t the token standard depicted in my USDT yield account?
When USDT is allocated to yield via the portal, it will only indicate the total USDT amount, not the token standard.
However, when the USDT is transferred back into custody, the token standards will be seen.
Please don't hesitate to reach out to a member of our team via the Portal chat, if you have any further questions regarding USDT deposits and withdrawals.