BitMEX to Add Support for USDT-TRON Deposits and Withdrawals

BitMEX to Add Support for USDT-TRON Deposits and Withdrawals

BitMEX, one of the most advanced peer-to-peer systems for trading cryptocurrencies, is a trading platform developed for professional traders. BitMEX is a Hong Kong-based cryptocurrency exchange that was created in 2014. BitMEX presently offers over 15 trading pairs and is supported globally except for the United States of America. BTC perpetual contracts and upside profit contracts are the most popular on the platform.

Amazon Web Services supports the affiliate program of BitMEX. Often called generous, the affiliate program of BitMEX ensures that affiliates bring a lot of business to the venture while also earning a good commission on every referral.

Anyone can create an account on BitMEX by getting started from the Register section and filling up all the mandatory details. Details like country of residence and email address are required to register on BitMEX.

A verification email is sent to confirm the details and complete the registration process. More details can be explored through BitMEX reviews.

With the support for USDT-TRON announced in the next week, the community can expect announcements on support for many more networks in the coming weeks. Solana, for one, is tentatively scheduled in the first week of September.

Following the launch of support on the Ethereum network, BitMEX has announced that it will extend support for deposits and withdrawals for USDT-TRON pairs starting next week. Users will no longer be restricted to executing their actions only on a single network, and they can choose a preferred network and register a lower fee with faster transactions.

Users can still prefer to execute the action on the Ethereum network.

Regardless of which network they choose to deposit their funds in, users can withdraw from any network they want. Users who deposit tokens through two different networks will see it unified in their respective wallets.

For instance, the deposit of 700 USDT ERC-20 tokens and 300 USDT TRC-20 tokens will ultimately add up to a balance of 1,000 Tether in the eWallet. Once topped up, users can trade, convert, and earn Tether against any cryptocurrency paired against USDT.

A quick comparison between USDT-TRON and USDT ERC-20 has been drawn below to explain the difference between the two better.

  • Transaction Fees – The transaction fees charged by USDT-TRON are generally low, but the transaction fee charged by USDT ERC-20 is on the higher side.
  • Network – USDT-TRON is based on the Tron network, while USDT ERC-20 is based on the Ethereum network.
  • Transaction Speed – USDT-TRON can, on the one hand, process up to 2,000 transactions every second. On the other hand, USDT ERC-20 can process up to 25 transactions every second.

Transaction time is much better with USDT-TRON, making it the preferable network for the users. The TRON Network, to which the pair is issued and is pegged, allows for interoperability with TRON-based protocols and decentralized apps.

Users can swap and trade fiat-pegged currencies throughout the TRON network in the meantime.

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