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  3. Tether (USDT) Wallet

Tether (USDT) Wallet

  • How Can I Check the Status of My Ethereum (ETH), Tether (USDT) and USD Coin (USDC) Transaction?

    Ethereum, Tether, and USD Coin transactions on Paxful externally rarely fail but you can always check if your transactions went through.

    When you send ETH, USDT, or USDC from one wallet to another, you can check the status of the transaction through Etherscan for ETH and USDC, Ethereum-based Tether (ERC-20), and Tronscan for Tron-based USDT (TRC-20). Check out the steps below to get started:

    Each transaction has a transaction ID (also known as a transaction hash). The IDs are alphanumeric characters and look something like this:

    • 0x931d387731bbbc988b312206c74f77d004d6b84

    To find your transaction ID in your Paxful wallet:

    1. Log in to your Paxful account and head to your wallet
    2. Click on the "Transactions" tab and on the drop-down select ETH or USDT.
      Scroll down at the bottom of the page and select “View All Transactions” to see your full transaction history.
      Screen_Shot_2022-12-22_at_8.14.38_AM.png
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    3. Once you find the transaction you’re looking for, copy the transaction ID.
      Screen_Shot_2022-12-22_at_8.21.14_AM.png

    Once you have the transaction ID:

    1. Head over to Etherscan.io or Tronscan.org
    2. Paste in the transaction ID
    3. From there, you can track your transaction. It usually takes 12 confirmations (it can take up to 30 on some platforms) for your transaction to complete, so hang tight! 


    For more information on sending USDT, take a look at this article.

  • Receiving and Depositing Tether (USDT)

    If you are looking to securely deposit and receive Tether (USDT) on Paxful, read our guide on how to do it in three simple steps:

    1. Log in to your Paxful account and head to the Wallet page.
      Screen_Shot_2022-12-22_at_8.37.04_AM.png
    2. Look for Tether (USDT) currency under Assets and click RECEIVE.
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    3. From there, you can copy your Tether wallet address or use the QR code. Please make sure the amount you’ll be receiving is worth more than the fee!
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    Notes:

    • After USDT is sent, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track. 
    • If you have an old Tether address, you'll be charged a network fee when you use it to deposit Tether. You can avoid that fee by using your new Tether address.
  • Tether (USDT) FAQs

    Tether (USDT) is a stablecoin that is pegged to the American dollar (USD). A single unit of USDT is supposed to be equal to 1 USD.

    Paxful provides an option to convert your Bitcoin to USDT to protect your funds from any market fluctuations. Learn more about our BTC to USDT converter in our Help Center.

    What is Tether?
    Tether (USDT) is a stablecoin that is worth around 1 USD. The rate can fluctuate a bit, but it's a 1:1 representation of 1 US dollar on the Tether blockchain.
    Who can trade USDT on Paxful?
    All users can trade and convert USDT with a verified email address and phone number. However, depending on your country, you may need to verify your address to sell USDT. 

    For a full list of the verification status needed for USDT transactions, please visit this article.
    What are the fees for converting USDT?
    For the full breakdown of USDT fees, check on this article.
    Can my USDT transaction be cancelled or reversed?
    Unfortunately, transactions on the blockchain can’t be cancelled or reversed. For more information, check out this article.
    What is the minimum USDT amount I can sell, buy, or convert?
    With Paxful, the minimum amount you can buy, sell, and convert is 10 USDT.
    How can I buy or sell USDT?

    You can buy or sell USDT the same way as you would buy or sell Bitcoin in the marketplace! 

    • Head over to the buy and sell pages to see a list of the current USDT offers. 
    • You can also create your own USDT offers (just make sure you’re ID verified!).
    • You can also convert your BTC and ETH into USDT in your Paxful Wallet. Check out this article for more information.
    How do I get a USDT wallet address?
    Just head to your Paxful wallet and click on “Receive” under Tether to get your USDT address. You can also check out our Receiving and Depositing Tether article for more information.
     
  • USDT TRON

    Paxful does its best to give users the option to save on fees for USDT transactions, that's why TRON (TRC-20) Network was added.

    Transaction fees on the blockchain can get expensive and are sometimes unpredictable. These fees are called Network fees and do not go to Paxful. They go to the blockchain networks to make sure your funds are safe.

    Luckily, the fees in the TRC-20 Network are lower than the fees in older blockchains (such as Bitcoin and Ethereum).

    What USDT does Paxful support?

    For USDT (Tether USD) we allow two send-out options from your Paxful Wallet: Ethereum (ERC-20 USDT) and TRON (TRC-20 USDT).

    What are the fees associated with TRON USDT send-outs?

    You will be charged a network fee when sending USDT via the TRON (TRC20) network and that's on top of the Paxful Wallet fee. Check out this article for more information on our fees.  

    Which network does my wallet/exchange accept? 

    Typically you can see that in the ‘Receive’ or ‘Deposit’ screen within your wallet. Look for either Ethereum (ERC20) USDT or TRON (TRC20) USDT. If you are given a deposit address, you can easily spot the Ethereum address by the ‘0x’ in the beginning, while TRON addresses start with a capital ‘T’.

    Note: Make sure your wallet/exchange supports USDT transfers. Please never withdraw money directly to ICO addresses or services not designed to accept USDT.

    What if I want to send USDT to another Paxful user?

    You can still send funds to another Paxful Wallet by using a Paxful username or wallet address. There is no network fee for internal transfers (you have 1000 USD worth of free internal transfers each month).

    I want to withdraw the funds to my own wallet, what software should I use?

    Your funds are safe in your Paxful Wallet, but if you want to keep USDT in your own wallet, you can find the software for your desktop or mobile device here:

    Ethereum Wallets

    TRON Wallets 

    Why won’t my transaction go through?

    Make sure you copied the address correctly. Keep in mind that addresses are case-sensitive. Also, make sure your address is either Ethereum USDT (starts with ‘0x’) or TRON USDT (starts with ‘T’). 

    If you’re still running into issues, feel free to reach out to our support team.