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FixedFloat | Exchange USDT (ERC-20) to Binance Coin

noviembre 14, 2019 / by Fatima Fernandez / in Exchanger

EXCHANGE USDT (ERC-20) TO BINANCE COIN

What do you need to know?

  • ­The average time of the exchange of USDT to BNB — from 1 to 2 minutes
  • ­Only 4 confirmations of the USDT are needed to complete the exchange
  • ­Do not send USDT through a third party contract! Such transactions are not automatically processed. We accept transactions from the original USDT contract
  • ­Memo is the BNB payment ID. If you need it when sending a transaction, be sure to include it

FixedFloat | Instant cryptocurrency exchange — fixedfloat.ltd

Brief Information on USDT (ERC-20)

Tether (USDT) was created by Tether Limited in 2014. The developers were able to qualitatively implement a curious idea — to combine a real-life currency and blockchain technology. As a result, the USDT stablecoin appeared — its rate is almost always equal to 1 US dollar.

In 2018, USDT was released on the Ethereum blockchain using the ERC-20 protocol. This made Tether compatible with decentralized apps, dramatically increased transaction speed, and dramatically reduced fees. At this time, Tether on the ETH blockchain is the most popular among users.

USDT smart contract

Do not submit USDT through a third party contract. Our exchanger does not accept transactions that are sent by third party smart contracts, except for the original USDT contract.

Network fee

To work with tokens, the wallet must have ETH. It is very difficult to calculate the exact amount of ETH to send a transaction. During periods of high load, it can change significantly. Each token can have a different transaction value. Therefore, it is better that the amount of ETH on the wallet is slightly higher than the average fee on the network at the moment. The average commission can be estimated using the Blockchair analytical service.

The system does not see the transaction, what should I do?

If you have sent funds, but there are no changes, check your transaction in an explorer (etherscan.io or blockchair.com) and make sure that the transaction was created.

If the transaction has already been added to the blockchain, and the system has not seen it, contact technical support, we will be able to help you promptly.

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FixedFloat | Instant cryptocurrency exchange — fixedfloat.ltd

Binance Coin (BNB) — Binance Exchange Token

The BNB Coin cryptocurrency was released through an ICO that took place in July 2017. As a result, they raised $15 million. Binance Coin was created as an ERC20 token and originally worked on the Ethereum blockchain. But in 2019, the coin “moved” to its own blockchain. The ERC-20 standard is still adopted by the Binance exchange.

What is a Memo and do I need to specify it?

There is an additional Memo field when submitting Binance Coin. Memo is the ID of the payment. It is unique, and with its help the service identifies the sender and recipient. Many services have address protection, which does not allow transactions without Memo.

If it happened that you forgot to specify the Memo or specified it incorrectly:

  1. Check if the transaction went through. To do this, you can use the explorer.binance service.
  2. If the transaction is not confirmed, write to our technical support. We will help you resend it.
  3. If, nevertheless, the transaction went through, then, unfortunately, we will no longer be able to help. In this case, you should write to the technical support service of the service to which you sent it.

Binance Coin Blockchain Speed

BNB is considered to be a fast blockchain. The transaction is confirmed in a few seconds.

Fatima Fernandez

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