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What is Tether Wallet (USDT)? Before answering this question, let’s take a quick look at USDT first.
USDT Is one Stablecoin (a cryptocurrency with a value listed in USD). Often seen as a safe haven for traders looking to avoid volatile market periods.
Tethers (USDT) Despite some controversy over whether USDT issuers have bank coverage, there is still strong demand for USDT in the market. electronic money Global.
Although USDT is usually kept on these bitcoin exchange and used as a tool to trade in and out of cryptocurrencies as desired, some holders may also want to store their money securely off an exchange.
There are Three Types of Tether (USDT)
USDT was originally created using Omni Layer’s protocol (Using blockchain’s Bitcoin), but then launched additional versions as tokens ERC20 (using block chain Ethereum) and USDT-TRON (using TRON’s platform)
This means there are 3 different types of USDT, all three with different storage methods.
Anyone wanting to transfer their USDT to a wallet must first find out what type of USDT they have as the two are incompatible with each other.
If you send the wrong type of USDT to the wrong wallet, you will lose money. The good news is that checking what type of USDT you have is a relatively simple process. And send the wrong one can still get good if the exchange supports it.
Tether Wallet (USDT) Evaluation Criteria
Besides making sure the wallet is compatible with the USDT you hold, be sure to look for the following key features:
- Easy-to-understand interface. Storing and managing cryptocurrencies and tokens can be complicated and confusing, especially if you are new to cryptocurrencies, so look for a wallet with a simple and straightforward user interface.
- Security features. Check out the list of security features each wallet offers, such as 2-factor authentication and advanced encryption. Has it ever experienced any security breach in the past?
- Backup and restore. Is it easy to back up your wallet and restore your funds if there is a problem with your wallet? Do you retain control of your private keys, or do you need to trust a third party?
- Continuous development. Research each wallet you’re reviewing to learn more about the development team behind the product. Are the wallets constantly being upgraded and improved with new features and technologies?
- Customer support. Finally, if you need help with your wallet or you have problems with transactions, how easy is it to contact the customer support team?
Tether Wallet (USDT) Popular
# 1 OmniWallet
OmniWallet is the original wallet for storing USDT. As an online web wallet, it has a lower security rating than hardware wallets and other forms of cold storage. That said, it provides full control over your private keys, which is an important safeguard against your USDT holdings.
The main advantage of using OmniWallet is market access. Since USDT trading on the Omni protocol is well established, it’s easier to buy and sell at critical times compared to ERC20 tokens on the Ethereum blockchain.
One key benefit of this wallet is that any OmniWallet allows you to store bitcoins as well as USDT. However, the main downside is the banana OmniWallet UI, which is not ideal for beginners. The wallet’s navigation and setup drew criticism from some users, with some pointing out that it was not even immediately clear whether the wallet supported USDT.
# 2 Tether Wallet
This wallet is very few people know, mainly exchanges, they apply for permission and create Tether wallet on their exchange. This is complicated for both novices and technicians because it requires a lot of things, so I did not explain much about this form.
# 3 Tether Wallet (USDT) On An Exchange
This is the most popular wallet that people store today, it only has a single risk, if the exchange is hacked or collapsed, it is certain that you can lose money and of course in Vietnam it will be difficult to claim. right.
So please choose these Reputable exchange and the big exchanges.
According to the Virtual Money Blog, you should store on US-based exchanges such as Coinbase, Bitfinex and some reputable and famous exchanges such as Binance, Huobi, …
# 4 Ledger Nano Wallet
The ledger nano wallet is an interesting and secure option if you want to store USDT because it is a Cold Wallet.
In 2020, Ledger updated all Ethereum ERC20 tokens, and from there you can easily store USDT on Ledger.
Especially the deposit and withdrawal fee is very cheap. Normally, you withdraw USDT ERC20 from the exchange for $ 1 fee. But when using ledger, it only costs ~ $ 0.3.
So this is option 1 if you intend to store offline. Floor collapses are also not worried. Avoid being hacked as much as possible.
See more: Ledger Nano S Cold Wallet The Most Detailed User Guide
# 5 TrustWallet
Trust Wallet is a wallet owned by the Binance exchange, so it can be said that this is the most secure and free wallet today.
We have detailed information about this wallet in the post below, you can see and refer.
See more: What is Trust Wallet? Is wallet safe to store BNB, BTC, ETH, XRP, TRX?
In addition, there are a lot of wallets that are gradually supporting USDT that we will update later, hopefully this article will help you somewhat in storing USDT.
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