Crypto Tips & Tricks
Whether you are starting your crypto journey or you have an intermediary level in all things crypto, there is a good probability that you will be interested in these Crypto Tips & Tricks.
In these articles, we share our knowledge on how to:
Find the information you are looking for on a specific topic:
Number of tokenised BTCs on Ethereum, what is the Gas price atm, etc.
Save on fees:
Whether using Ethereum, DEXes or centralised exchanges.
Impairment loss, farming APY, etc.
Today, we talk about USDT tranfers, best time to execute transactions on Ethereum and tokenised BTCs.
1) How do you know what is the current Gas price to execute a transaction on Ethereum?
ETH Gas Station will give you that information in real time, available here.
2) When is the best time to execute transactions on Ethereum?
Short answer is between 6 pm UTC and midnight UTC, meaning between 8 pm to 2 am Paris time (de 20h à 2h du mat’).
Gas is the most expensive on Thursday evenings.
If you want to know more on the topic, the complete research done by Marco Machioro is available here.
3) Tokenised BTCs on Ethereum
You have heard about tokenised BTCs on Ethereum and are willing to know how many are already there?
You will get all the information you need to know in this Dune dashboard, available here, made by Ilias Imos.
There is also this website (btconethereum.com), available here.
4) How to transfer USDT between centralised exchanges for less fees?
USDT is available on three blockchains: OMNI (Bitcoin based), ERC20 (Ethereum) and TRC20 (Tron).
Compare all the available options (OMNI, ERC20 & TRC20) in your centralised exchanged (Binance, etc.) and use the cheapest in terms of fees to do a transfer.
In the below example, USDT TRC20 is the cheapest option on Binance. You will pay 0 withdrawal fees, compared to 3.05 USDT on ERC20 and 5.82 USDT on OMNI.
However, not all centralised exchanges support USDT TRC20.
Supported exchanges for USDT TRC20:
Bitfinex, Binance, Huobi, Poloniex, Okex, Kucoin.
Not supported exchanges:
Kraken, Bitstamp and Coinbase.
So if you would like to transfer USDT between centralised exchanges, check if TRC20 is supported and you will save some money on fees.
⚠️ You cannot use USDT TRC20 with your MetaMask account, it has to be used only with other compatible USDT TRC20 supported centralised exchanges ⚠️
⚠️ If you deposit USDT TRC20 to your MetaMask you will lose the money transferred ⚠️
That’s it for today.
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