What is a USDT?
Pegged currency: US dollar, 1 USDT= 1 USD
Company: Tether Limited
What type of USDT?
imToken supports Bitcoin-based USDT (Omni USDT)，Ethereum-based USDT (ERC20 USDT) and TRON-based USDT(TRC20 USDT), which cannot be transferred to each others’ blockchain.
You can confirm by address which type of USDT is:
- The Omni USDT address starts with 1 or 3 and can be stored in the BTC wallet in imToken.
- The ERC20 USDT address starts with 0x and can be stored in the ETH wallet in imToken.
- The TRC20 USDT address starts with T. It can be stored in the TRX wallet in imToken
Transfer USDT Why is the miner fee insufficient?
Transfering Omni USDT requires at least 0.0001 BTC as the miner fee.
Transfering ERC20 USDT requires at least 0.001 ETH as the miner fee.
Transfering TRC20 USDT requires "energy" in the TRX wallet, or consuming a small amount of TRX as miner fees.
There is enough BTC in the wallet, but transfer prompt "BTC balance is insufficient. Please add funds and re-initiate the transfer "
Please transfer about 0.00001 BTC to your BTC wallet main address , and then you can successfully initiate the transfer.
Omni USDT is based on the BTC blockchain, and each Omni USDT transaction is accompanied by a transfer of 0.00000546 BTC in order to confirm identity and prevent dust attacks.
Transfer Omni USDT, prompting “You have an unmined BTC transaction. Please await 1 confirmation before re-initiating your transaction.”
This is usually the case because UTXO in your BTC wallet is occupied (there are transactions not confirmed). You need to wait for the transaction to succeed before you can initiate a new transaction.
How long will the USDT transfer take to be successful?
Depending on the miner fee you set at the time of the transfer, the higher the miner fee, the faster confirmed.
Omni USDT's transaction confirmation parameters are consistent with Bitcoin’s, where each block confirmation takes 10 minutes. If you transfer to the Exchange, you usually need to wait for 2 block confirmations (i.e. about 20 minutes). The Omni USDT miner fee is also higher than that of ERC20 USDT and TRC20 USDT.
How to set the miners fee reasonably
imToken will not charge any transfer fees.
You set the miner fee on the transfer page by yourself. In the case of blockchain network congestion or the desire for a faster transaction, imToken recommends that you set a higher miner fee so that the transaction will be confirmed as soon as possible.
When you initiate a transfer in imToken, the wallet will automatically get the real-time optimal miners fee on the blockchain. But sometimes the data obtained is not accurate due to the your phone network or blockchain nodes. At this time, you can go to check it by yourself.
Current best transaction fees by BTC : https://btc.com/stats/unconfirmed-tx
Current best transaction fees by ETH : https://ethgasstation.info/
Differences on three types of USDT
ERC20 USDT has the largest number of users. Most platforms use ERC20 tokens.
TRC20 USDT has the second highest number of users, with the fastest transfer speed and the lowest miner fee. However, some exchanges do not support this type of USDT.
OMNI USDT is the earliest USDT. Currently it is only used by a small number of people, which requires high miner fees and slower transfer speed.