Withdrawing USDT.ERC20 questions

[Scorpion Ghost]

I have some USDT.ERC20 somewhere, and when I go to withdraw it, there's this notice:

Important: You must have 0.02 ETH in the same address as your USDT.ERC20 in order to pay the gas to send it. Not just in your account balance but in the same address; if needed you can do a withdrawal of ETH to your USDT.ERC20 address.

How the fuck can I have ETH and USDT on the same address? One is ETH, the other is USDT. Say you're withdrawing to Binance. You go Deposit, and you choose ETH or USDT. They have different addresses.

Anyone knows what the fuck this means?

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And another. When I go to withdraw, there's this:

Transaction Fee (est.): +0.00000000 USDT.ERC20
Gas Fee: + ETH Gas/TX fee

The first line - So the site I'm withdrawing from isn't charging a transaction fee, as far as I can see.

The second line - Is there any way for me to get at least an idea about what the Gas/TX fee is going to be, or might be?

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This is what I hate about crypto. You're so often walking on some fucking minefield, in fog...

Anyone has the answers to these questions?

 

[Daemon Targaryen]

Binance separates storage from the platform so all the transactions happen off-chain hence no gas fee needed (unless you withdraw).

USDT is a token on multiple blockchains. In your case Ethereum. Every token needs the chain's currency to transact.

Your wallet is on Ethereum mainnet so you need to pay gas for each transaction. Deposit ETH.

An ETH address supports all erc20 tokens, so you can send any of them to your address.

 

[indianmojojojo]

USTD ERC20 will require you have ETH to be able to withdraw, USDT TRC20 needs Tron

Avoid ERC20 they have ridiculously high fee. TRC20 is the best imo

 

[Daemon Targaryen]

USTD ERC20 will require you have ETH to be able to withdraw, USDT TRC20 needs Tron

Avoid ERC20 they have ridiculously high fee. TRC20 is the best imo

Yes, but then he will be upset to deposit trx, even if low fee, it's annoying for beginners.

 

[Scorpion Ghost]

Binance separates storage from the platform so all the transactions happen off-chain hence no gas fee needed (unless you withdraw).

USDT is a token on multiple blockchains. In your case Ethereum. Every token needs the chain's currency to transact.

Your wallet is on Ethereum mainnet so you need to pay gas for each transaction. Deposit ETH.

An ETH address supports all erc20 tokens, so you can send any of them to your address.

Wait a minute, maybe im a little fucked up.

In your first sentence you say no gas fee needed. In your third sentence you say deposit Eth.

What?

And to be precise, i want to withdraw to the Crypto.com app. I go in the app, choose USDT, and choose the ERC20 network. How the hell do i out ETH in there?

Or youre saying i should be withdrawing the USDT to an Eth address, which has Eth in it?

 

[indianmojojojo]

Wait a minute, maybe im a little fucked up.

In your first sentence you say no gas fee needed. In your third sentence you say deposit Eth.

What?

And to be precise, i want to withdraw to the Crypto.com app. I go in the app, choose USDT, and choose the ERC20 network. How the hell do i out ETH in there?

Or youre saying i should be withdrawing the USDT to an Eth address, which has Eth in it?

You need eth to be able to transfer/swap USDT ERC20. Buy it via fiat or ask someone to send you some ETH to your wallet there

 

[Daemon Targaryen]

Wait a minute, maybe im a little fucked up.

In your first sentence you say no gas fee needed. In your third sentence you say deposit Eth.

What?

And to be precise, i want to withdraw to the Crypto.com app. I go in the app, choose USDT, and choose the ERC20 network. How the hell do i out ETH in there?

Or youre saying i should be withdrawing the USDT to an Eth address, which has Eth in it?

No, I said Binance doesnt need gas unless you withdraw. Is your usdt on binance?

You want to withdraw to crypto.com or from it?

No to the last question.

 

[Scorpion Ghost]

You need eth to be able to transfer/swap USDT ERC20. Buy it via fiat or ask someone to send you some ETH to your wallet there

I need it where? On Coinpayments? On Crypto.com? In my pocket? Where? Where do I need to put it?

I'm gonna contact coinpayments and ask them. Fucking ridiculous...

 

[Scorpion Ghost]

No, I said Binance doesnt need gas unless you withdraw. Is your usdt on binance?

You want to withdraw to crypto.com or from it?

No to the last question.

The USDT is on Coinpayments.

I want to withdraw some to Crypto.com, and some to Kucoin.

 

[indianmojojojo]

I need it where? On Coinpayments? On Crypto.com? In my pocket? Where? Where do I need to put it?

I'm gonna contact coinpayments and ask them. Fucking ridiculous...

Simple you just need it wherever you have the USDT ERC20. It's a seperate Id for ETH. The fee will get deducted from the ETH

It's not hard once you figure things.

 

[Daemon Targaryen]

The USDT is on Coinpayments.

I want to withdraw some to Crypto.com, and some to Kucoin.

Ok, coinpayments is a wallet not an actual exchange so you need to deposit eth in your coinpayments address (the one with usdt).

Then withdraw usdt to crypto and kucoin.

Since you do 2 transfers you need to pay 2 gas fees.

 

[Scorpion Ghost]

Simple you just need it wherever you have the USDT ERC20. It's a seperate Id for ETH. The fee will get deducted from the ETH

It's not hard once you figure things.

Oh shit...

Ok, coinpayments is a wallet not an actual exchange so you need to deposit eth in your coinpayments address (the one with usdt).

Then withdraw usdt to crypto and kucoin.

Since you do 2 transfers you need to pay 2 gas fees.

So, I might as well send it all to Kucoin, then on Kucoin convert the amount I want to send to Crypto.com into LTC, then send the LTC to Crypto.com, and then convert the LTC there into whatever I want.

This sounds better to you?

 

[Daemon Targaryen]

Oh shit...



So, I might as well send it all to Kucoin, then on Kucoin convert the amount I want to send to Crypto.com into LTC, then send the LTC to Crypto.com, and then convert the LTC there into whatever I want.

This sounds better to you?

No need to do all that, gas fee is $0.8 per transfer now.

 

[Scorpion Ghost]

No need to do all that, gas fee is $0.8 per transfer now.

Cool.

Coinpayments says I need to have 0.02 ETH in my address so that I can send the USDT. That's like $25 bucks man! I assume that's the max you need to have, and they'll only take what's needed out of that.

But I don't even have 0.02 ETH in my Coinpayments account. I have 0.01627636 ETH.

So I'd need to send 0.004 ETH into my Coinpayments account. Then somehow...

You must have 0.02 ETH in the same address as your USDT.ERC20 in order to pay the gas to send it. Not just in your account balance but in the same address.

So it's not enough to have 0.02 ETH in my account, I need to have it on the same address as the USDT. That's impossible! They're not the same thing.

I contacted coinpayments because this is not making any sense to me. Even if it makes sense, I don't know how to put ETH and USDT on the same address. How do you do that? In my mind, they're different things, different addresses. Next they'll tell me to put Cardano on the same address as my Bitcoin. Whoopty fucking doo.

I contacted coinpayments, maybe they tell me what to do...

 

[sunil0021]

You are stretching this too much.

> you have an usdt erc20 address on coinpayments.

>> get an eth address on coinpayments, deposit on eth on that address.

Now when you make a withdrawal request eth from your account will be auto deducted.

 

[Scorpion Ghost]

You are stretching this too much.

> you have an usdt erc20 address on coinpayments.

>> get an eth address on coinpayments, deposit on eth on that address.

Now when you make a withdrawal request eth from your account will be auto deducted.

Aha. But they say:

Important: You must have 0.02 ETH in the same address as your USDT.ERC20 in order to pay the gas to send it. Not just in your account balance but in the same address; if needed you can do a withdrawal of ETH to your USDT.ERC20 address.

Excuse me very much, but thats different than what youre saying.

I have/can get ETH in my Coinpayments account.

But getting the ETH in the same address as my USDT.ERC20, that makes no sense to me.

 

[indianmojojojo]

It's the same address. If the user send you from his ETH addy it goes to ETH, if the user sends you from USDT ERC20 it goes to USDT ERC20

 

[Scorpion Ghost]

It's the same address. If the user send you from his ETH addy it goes to ETH, if the user sends you from USDT ERC20 it goes to USDT ERC20

Yeah thats all well and good. But coinpayments clearly made a distinction between your account and your address.

I have ETH in my coinpayments account.

I dont know how to have ETH and USDTE.RC20 in the same address.

Important: You must have 0.02 ETH in the same address as your USDT.ERC20 in order to pay the gas to send it. Not just in your account balance but in the same address; if needed you can do a withdrawal of ETH to your USDT.ERC20 address.

Look at what they say. Very important. The 0.2 ETH MUST BE ON THE SAME ADDRESS AS YOUR USDT.ERC20. Not just in your account balance. They must be on the same address.

That doesnt make sense. Thats impossible.

 

[bluematter]

Hello mate,

Withdraw the ETH you have in your Coins payment wallet to your USDT-ERC20 Address. When that's done then just send the USDT where ever you want.

Simply copy your USDT-ERC20 address, then click on your ETH Balance, select withdraw, put your USDT-ERC20 address as withdrawal destination. Once done You will have both ETH and USDT-ERC20 in same address.

Once that's done, you will be able to send that USDT to Kucoin or where ever you want.

 

[indianmojojojo]

Yeah thats all well and good. But coinpayments clearly made a distinction between your account and your address.

I have ETH in my coinpayments account.

I dont know how to have ETH and USDTE.RC20 in the same address.

Important: You must have 0.02 ETH in the same address as your USDT.ERC20 in order to pay the gas to send it. Not just in your account balance but in the same address; if needed you can do a withdrawal of ETH to your USDT.ERC20 address.

Look at what they say. Very important. The 0.2 ETH MUST BE ON THE SAME ADDRESS AS YOUR USDT.ERC20. Not just in your account balance. They must be on the same address.

That doesnt make sense. Thats impossible.

I mean the address is the same something like 0xFO....etc for both USDT ERC20 and ETH. Why cannot it be the same addy