Cryptocurrency Q&A
Why do I need ETH to transfer USDT?
Why do I need ETH to transfer USDT?
EchoSoulQuantum
Thu Jan 02 2025
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7 answers
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I'm trying to understand why I need to use ETH when transferring USDT. Is it because ETH is required as a 'gas' fee for the transaction to go through on the Ethereum network?
7 answers
Martino
Sat Jan 04 2025
Tokens issued on the Ethereum blockchain hold a specific designation known as 'ERC-20'.
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Michele
Sat Jan 04 2025
These ERC-20 tokens rely on Ethereum (ETH) for the payment of mining fees within the Ethereum blockchain ecosystem.
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Raffaele
Fri Jan 03 2025
Possessing ETH in your digital wallet is essential to facilitate the transaction fees associated with any swap involving ERC-20 coins.
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DondaejiDelightfulCharmingSmile
Fri Jan 03 2025
Stablecoins like USDC and USDT, which are also issued as ERC-20 tokens on the Ethereum blockchain, similarly require ETH to cover the transaction fees.
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CherryBlossomBloom
Fri Jan 03 2025
The network fees are a necessary aspect of conducting swaps on the Ethereum blockchain.
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