![]() ![]() Moreover, the minimum withdrawal requirements and the transaction fee are different for each network. It is determined by the type of blockchain network and the network congestion. The USDT transaction fee is paid by the owner who transfers Tether from one account to the next. Related: How much is a Bitcoin transaction fee? Who Pays The USDT Transaction Fee? They are the result of Tether’s original purpose, which was to use the Omni Layer of the Bitcoin network. Furthermore, the process of creating and burning USDT happens almost continuously, requiring constant maintenance and oversight. While its Tether reserves ensure constant equivalency with the dollar, Tether’s flexible approach, which allows it to be transacted across multiple chains, takes a lot of effort and charges a transaction fee to support the network. Tether was founded in 2014 and, since then, has been one of the most stable “ stablecoins” in the blockchain space. The most expensive fees are using the ERC-20 Ethereum network which can cost up to 25 USDT on exchanges such as KuCoin. One of the lowest USDT transaction fees can be found on Binance at 0.29 USDT per withdrawal using the Binance smart chain (BSC) network. Based on these factors, the average fee to send Tether is approximately 5.46 USDT at the time of writing. The USDT transaction fees vary depending upon the cryptocurrency exchange withdrawal fee, the amount, and network congestion. In many jurisdictions around the world, the fees are tax deductible. ![]() USDT transaction fees are an unavoidable cost that is incurred by the sender.The key factors that influence USDT transaction fees include network congestion, crypto microdeposits, and whether the market is in a bear or bull phase.Binance has the lowest USDT fees of 0.29 USDT using the Binance Smart Chain (BSC) network.As of June 2023, the average transaction fee to send USDT is 5.46 USDT.This article will explain how much it costs to send USDT, why there is a fee, who pays it, and whether the USDT transaction fee can be reduced. Each use case will involve transferring USDT to different exchanges, platforms, and wallets that incur a fee. Tether, more commonly known as USDT, is widely used for peer-to-peer transactions, trading between cryptocurrencies, cross-border payments, and as collateral in decentralized lending and borrowing products. USDT is one of the safer stablecoins in the cryptocurrency space due to its relative price stability and familiar unit of account. How Much Is It To Send USDT? Why Does USDT Have a Transaction Fee? Who Pays The USDT Transaction Fee? What Is The Lowest USDT Transaction Fee? What Is The Maximum USDT Transaction Fee? Why Is The USDT Transfer Fee So High? How to Lower the USDT Transaction Fee? What is the Fee to Withdraw or Deposit USDT on the Tether Network? Frequently Asked Questions Conclusion
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