MultiversX Tracker is Live!

Question from a noob about transfers

Binance

Cryptocoins Exchanges / Binance 304 Views

Hello everyone, I'm new to the whole mining and crypto scene. I researched and tried mostly everything by now and I have a pretty solid idea about how things work. I only have 1 small question that is still confusing me and I hope I could get a clear answer on that.

So technically, I mine Ethereum on a mining pool, have my payout transferred directly to my ERC-20 compatible wallet. After that, I proceed to deposit my Ethereum in my Binance account using ERC-20 deposit and withdraw addresses to avoid losing my funds. At that point I can proceed to convert any amount of Eth to USDT using the "convert" button in my spot wallet section.

My question is, and this may sound stupid: If I want to transfer this USDT from my Binance account to another Binance account user, which network are we supposed to select? Are we supposed to do that on the ERC-20 network, same source of where the Ethereum came from in the first place before it was converted to USDT ? Or we can pick the network with the lowest fees without risking losing the USDT ?

submitted by /u/themadscientist003
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments