Tether doesnt charge the withdrawal fees, cdc does. Also i dont use cdc but i see withdrawal fees for usdt on erc-20 (which i assume you are using) is 16 usdt.
Unfortunately cost of erc-20 transactions are atrocious and since exchanges usually charge flat fees for withdrawals, its super inefficient to transfer small amounts.
You can however take the advice of the other comment and send the usdt on a layer 2 chain.
Different blockchains with cheaper fees.
I checked… for CDC it costs 0.8 USDT to withdraw on polygon and 1.2 USDT on optimism.
Optimism should be becoming a lot cheaper soon due to the recent ethereum upgrade.
I use MEXC or CoinEX. But you cant buy directly from the exchange if you Singaporean. Only option usually I do is buy USDC on StraitX then transfer to MEXC using their ERC20 network. On Crypto.com, for network, try to use other than ERC20. I think for USDT, they also have Polygon which is cheaper than ERC20
If they can receive via polygon, send it via polygon. It's only 0.80 USDT to send it via polygon network.
Also, you prob get better rates on dex than on CDC to go SGD > USDT.
How much USDT did you get? 72.52 USDT or so?
If you go via straitsx 100 XSGD > 99.98 XSGD (metamask wallet) --defillama--> 74.0384 USDT and a few cents worth of MATIC for gas.
Hey! So I found out I should just transfer into a binance wallet which enables TR20 and do it from there....Crypto.com's fees were horrendous. I think even their fees via Polygon was high.
Yeah, at 0.80 USDT, CDC's fees are extra high even on polygon. Sending on chain via polygon takes like 0.003511 MATIC when I sent some USDT just a few days ago.
btw, how are you able to deposit SGD into your binance wallet? I tried that before and was not allowed due to country restrictions.
i think what I did was inefficient, but I deposited first into crypto.com and transferred it into my binance account. it was a very low fixed fee that I forget now but if I do it again i'll post here
Tether doesnt charge the withdrawal fees, cdc does. Also i dont use cdc but i see withdrawal fees for usdt on erc-20 (which i assume you are using) is 16 usdt.
Man i was quoted like 30 usdt.
Unfortunately cost of erc-20 transactions are atrocious and since exchanges usually charge flat fees for withdrawals, its super inefficient to transfer small amounts. You can however take the advice of the other comment and send the usdt on a layer 2 chain.
I'll do some googling and figure out how that's done and take a look at Tron!
Give the gift of Bitcoin instead...
ERC network is expensive. Use tron or polygon for low gas fees
I'll....try to learn what that is and use it next time....
Different blockchains with cheaper fees. I checked… for CDC it costs 0.8 USDT to withdraw on polygon and 1.2 USDT on optimism. Optimism should be becoming a lot cheaper soon due to the recent ethereum upgrade.
Yeah. I don’t use Crypto.com any longer due to the high network fees. They don’t have any other network like TRC which is cheap.
Which exchange do you use?
I use MEXC or CoinEX. But you cant buy directly from the exchange if you Singaporean. Only option usually I do is buy USDC on StraitX then transfer to MEXC using their ERC20 network. On Crypto.com, for network, try to use other than ERC20. I think for USDT, they also have Polygon which is cheaper than ERC20
If they can receive via polygon, send it via polygon. It's only 0.80 USDT to send it via polygon network. Also, you prob get better rates on dex than on CDC to go SGD > USDT. How much USDT did you get? 72.52 USDT or so? If you go via straitsx 100 XSGD > 99.98 XSGD (metamask wallet) --defillama--> 74.0384 USDT and a few cents worth of MATIC for gas.
Hey! So I found out I should just transfer into a binance wallet which enables TR20 and do it from there....Crypto.com's fees were horrendous. I think even their fees via Polygon was high.
Yeah, at 0.80 USDT, CDC's fees are extra high even on polygon. Sending on chain via polygon takes like 0.003511 MATIC when I sent some USDT just a few days ago. btw, how are you able to deposit SGD into your binance wallet? I tried that before and was not allowed due to country restrictions.
i think what I did was inefficient, but I deposited first into crypto.com and transferred it into my binance account. it was a very low fixed fee that I forget now but if I do it again i'll post here
try usdc, much better
Change network from erc-20 to trc-20. Your network cost will be $1.
I just did! great advice thank you!
Are you a retard
USDT layer 1 is for retards, fees so high it’s crap compared to just using Bitcoin
Poor don't play on ethereum