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What’s the difference between USDT Omni layer and ERC20?

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Question
What’s the difference between USDT Omni layer and ERC20?

Answer

Tether (USDT) is a cryptocurrency designed for each token to be represented by an underlying US dollar.

How does Tether work? Read more here

We offer Tether issued on the Omni and Ethereum blockchains.

USDT-Omni is the USDT issued by Tether based on the BTC network, while USDT-ERC20 is the USDT issued by Tether based on the ETH network. 

Please see the information of each protocol in the table below:

Protocol

Number of confirmations

Estimated time of transaction

Network commission charged in

Omni Layer

2

20 minutes

BTC

ERC-20

3

5 minutes

ETH

Regardless of the choice of the preferred chain, your funds will be indicated in USDT for both deposit and withdrawal.

You need to select a protocol based on the crypto wallet which you transfer funds from/to.

Keep in mind that regardless of the protocol, you should only send ‘Tether’. If you send other coins, your funds may be lost forever.


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Views: 966 Created on: Jan 20, 2021
Date updated: Jan 25, 2021

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