In the world of cryptocurrencies, Tether (USDT) is considered one of the most widely used and valuable digital assets. However, to benefit from this asset on various networks, it is necessary to change the Tether infrastructure to different networks. Nevertheless, for using this asset on different networks such as Ethereum, Binance Smart Chain(BSC), and TRON, there is a need to bridge USDT Network.
In this article, we address questions such as “What is the process of converting ERC20 Tether to TRC20?” 💱 or “How can I convert ERC20 Tether to BEP20?” and also familiarize you with the methods of bridge Tether (USDT) Network and converting Ethereum Tether to Arbitrum or Polygon.
Why is Tether used on different networks?
Tether (USDT), as a stablecoin backed by the US dollar, has secured a significant position in the cryptocurrency market and maintained its rank as the third-largest in the market with widespread user acceptance. One important feature of Tether is its price stability, which instills greater confidence for its use in transactions and asset transfers.
Tether does not have its own blockchain and utilizes various blockchains, offering diverse versions of itself. For example, Ethereum-based Tether adheres to the ERC20 standard, and TRON network Tether is built on the TRC20 standard. Despite technical differences, the nature of Tether is consistent across all these networks, and it has a similar price.
The only difference lies in the fact that some networks may not be a preferable choice for using Tether due to issues such as network congestion, lower speed, and higher transaction fees. For this reason, users often prefer to transact Tether on networks with higher speed and lower fees.
Types of Tether Transfer Networks
The USDT token has been provided to users on several different networks to meet the diverse needs of users. Some of these networks are compatible with the Ethereum Virtual Machine (EVM) and have the ability to execute smart contracts. These diverse networks include:
- Omni Tether (Omni)
- EOS Tether (EOS)
- Solana Tether (SOL)
- Conflux Tether (Conflux)