Tether (USDT)? TRC20 what? How do I get this?

It’s not very easy to buy USDT on the Tron Network in some parts of the United States (or maybe other countries) and when can buy it, there are still a couple steps to transfer it somewhere. This article will explain a process that I am using, starting from your initial currency deposit to sending USDT to your intended destination, with only one central exchange.

For this process I use Coinbase as that is one of the few exchanges I can deposit US Dollars to. Coinbase does not support the Tron (TRC20) Network and as far as I know, US residents are not able to buy USDT on Coinbase at all. If you are able to in your location, it will be USDT on the Ethereum (ERC20) Network.

Tether (USDT)

I have seen many posts from people asking where and how to buy Tether (USDT) for a crypto project that requires it when some exchanges, Coinbase in this instance, do not support Tether on the Tron Network. Coinbase does support Tether USDT, but on the Ethereum (ERC20) Network. If you need to transfer Tether on it’s native Tron (TRC20) network, you won’t be able to do it from Coinbase. From here forward in this article I will refer to Tether as USDT, the Tron Network as TRC20 and the Ethereum Network as ERC20 to keep it simple.

Do NOT, I repeat, do NOT buy USDT on Coinbase, or other exchange that only supports ERC20, and try transferring to an end destination/address that says it requires USDT on the TRC20 network. You WILL LOSE YOUR FUNDS!

There are also some locations that the government has stepped in and you are not alowed to purchase or trade USDT. In this case, you may have an account on an exchange that supports USDT, but because of your regional location you are not able to buy USDT.

Initially I will go through the signup process for Coinbase for anyone that does not already have an account. The procedures will be very similar for other exchanges.

To create a new account, go to https://www.coinbase.com on your smart phone or with your web browser on your computer. If you use the link I have provided you will be given $10 USD worth of Bitcoin for using a referral link. Please refer to the steps below for the entire process.

1. Go to the Coinbase website (https://www.coinbase.com) and click the “Sign Up” button on the top right corner of the homepage. This will take you to a registration form where you will be asked to provide your email address. If you already have an account, you can log in instead of creating a new account.
2. Enter your email address and choose a strong password. Click the “Create account” button. Make sure to use a unique and strong password that you haven’t used for any other accounts. Avoid using easily guessable information such as your name or date of birth. You will also be asked to provide your phone number, this is optional but it is recommended to add it to increase the security of your account. Remember, you are story fund in this account. You want it to be secure.
3. Verify your email address by clicking on the verification link sent to your email. Once you’ve clicked on the verification link, you’ll be taken back to the Coinbase website and prompted to log in. If you don’t receive the email, check your spam folder or try resending the verification email.
4. Fill in your personal information, including your name, date of birth, and address. Click the “Next” button. This step is required to comply with anti-money laundering (AML) and know your customer (KYC) regulations. Make sure to fill in all the required fields with accurate information. You will also be asked to provide your occupation and the purpose of using Coinbase, make sure to answer honestly.
5. Verify your identity by providing a government-issued ID, such as a passport or driver’s license. This step is required to comply with anti-money laundering (AML) and know your customer (KYC) regulations. You will be prompted to upload a clear image of your ID, make sure that all the information is legible and that the image is in good quality. The image of your ID will be reviewed by Coinbase’s compliance team, this process might take some time, be patient.
6. Set up two-factor authentication for added security. You can use an authenticator app or a text message to receive the verification code. Two-factor authentication adds an extra layer of security to your account by requiring a verification code in addition to your password when logging in or making certain changes to your account. You can use a mobile authenticator app such as Google Authenticator or Authy, or you can choose to receive the verification code via text message. Make sure to write down the backup code and store it in a safe place, you’ll need it if you lose your phone or can’t access the authenticator app.
7. Connect a payment method to your account. This can be a bank account, debit or credit card, or wire transfer. You will be prompted to add a payment method, you can add a bank account, debit card or credit card, or wire transfer. Make sure that the payment method is under your name and that the information you provide is accurate. If you’re adding a bank account, you will be prompted to verify it, this process might take some time, be patient.
8. Once your payment method is confirmed, you can start buying and selling cryptocurrencies on the platform. You can now buy cryptocurrencies using your payment method, and you will be able to see your purchased cryptocurrencies in your wallet. Keep in mind that the availability of cryptocurrencies and the fees associated with buying and selling them may vary depending on your location. Make sure to review the fees associated with buying and selling cryptocurrencies, it mayThe initial signup process will be like most other sites or apps. Enter your full name, mailing address, email address, create a password, etc. The Coinbase site will walk you through the steps. I have had an account on Coinbase for quite some time now and I do not remember all the individual steps, but I do remember that it was a fairly easy process. Just fill in all the information asked and follow the instructions. You will be transferring and trading real money and you do want your funds to be secure, don’t you?

Now that you have a Coinbase account and you’ve deposited Fiat (your native currency) into your account, you need to setup Trust Wallet.

Grab your smart phone and follow the steps below. If you already have Trust Wallet installed and setup, you can skip over this.

1. When you first open the Trust Wallet app, you will be prompted to create a new wallet or import an existing one. If you are creating a new wallet, tap “Create a New Wallet”.
2. It’s important to note that Trust Wallet is a non-custodial wallet, which means that you have complete control over your cryptocurrency assets. This also means that you are responsible for the security of your wallet and your recovery phrase.
3. When creating your wallet password, make sure it’s a strong and secure password that you can remember. The password is used to encrypt and protect your wallet, so you should not share it with anyone.
4. The recovery phrase is a crucial aspect of your wallet, as it’s the only way to recover your wallet in case you forget your password or lose your phone. Make sure to write down the recovery phrase on a piece of paper and store it in a safe place that only you can access. Do not take a screenshot of the recovery phrase, as this can be accessed by anyone who gains access to your phone.
5. After confirming your recovery phrase, you will be taken to your Trust Wallet dashboard. Here you can see your cryptocurrency balances and transactions.
6. To receive cryptocurrency, tap on the “Receive” button and copy your wallet address to share it with the sender. It’s important to note that each cryptocurrency has its own unique address, so make sure to select the correct cryptocurrency before sharing the address.
7. To send cryptocurrency, tap on the “Send” button, enter the recipient’s wallet address, and the amount of cryptocurrency you want to send. Make sure to double-check the recipient’s address before sending, as transactions cannot be reversed.
8. Trust Wallet also allows you to buy cryptocurrency directly within the app, using a credit or debit card. Simply tap on the “Buy Crypto” button and follow the on-screen instructions to complete the purchase.
9. Additionally, Trust Wallet supports staking for various cryptocurrencies, which allows you to earn rewards for holding and supporting the network.

Remember to keep your recovery phrase safe and secure, and to never share it with anyone else. With Trust Wallet, you have full control of your cryptocurrency assets, so it’s important to keep your wallet and recovery phrase secure.

When done setting up your account and saving your recovery phrase, select the “Wallet” icon at the bottom left of the screen. You should see a short list of crypto tokens that includes Bitcoin, Ethereum, BNB Beacon Chain and BNB Smart Chain. At the end of the list, tap “Add Tokens” and then search for “USDT”. You will see a list with a bunch of different USDT tokens. You are looking for the one that says “Tether USDT” and below it, “TRC20”. Tap the slide switch to add USDT to your wallet. You will also want to add TRX (Tron) your your wallet as well. Following the same steps, search for TRX or Tron. TRX is only available on the TRC20 network, so there is nothing below it. Tap the slide switch for TRX to add it to your wallet.

TRX will be needed for the gas fees (transfer fees) to send USDT from your Trust Wallet to another destination. If you want to send USDT to a defi project or to an exchange where you don’t have access to FIAT, you will need to have some TRX tokens available to pay the gas fees. When exchanging for USDT, be sure to add a few dollars extra for TRX.

Now let’s actually transfer crypto from coinbase and buy some USDT.

1. Sign in to your Coinbase account and navigate to the “Buy/Sell” tab. Choose the cryptocurrency you want to buy, and enter the amount of fiat currency (such as USD or EUR) you want to spend. Review the transaction details and click “Buy” to complete the purchase. Coinbase charges a fee for each transaction, so be aware of the fee before finalizing the purchase. In this case I recommend XLM as it has really low transfer fees, but you will still have to pay the Coinbase fees.
2. Once you have purchased the cryptocurrency, navigate to the “Accounts” tab and locate the cryptocurrency you just bought. Click the “Send” button to send it to a unique deposit address generated by ChangeNow for the specific transaction. Pause on Coinbase temporarily as you will need the address that ChangeNow will generate.
3. Open a web browser on your mobile device and go to the ChangeNow website. On the homepage, it should say “Exchange Crypto”, select the cryptocurrency you just bought on Coinbase as the input currency and select USDT as the output currency. Make sure you select “Tether USD (Tron)”.
4. Enter the amount of cryptocurrency you want to convert and click “Exchange.”
5. The next page will tell you how much you can expect to receive when complete. If you come up a little short, you will need to add more of your starting currency.
6. Pause on ChangeNow and open Trust Wallet. Click on the USDT wallet. Click “Receive” to generate a unique deposit address. Copy this address.
7. Return to the ChangeNow website and paste the deposit address you just copied as the recipient for the USDT and click “Next.”
8. ChangeNow will display all the details of your transaction. Verify the amount and currency you are sending and the amount and currency you are receiving. Verify your receiving USDT address for Trust Wallet and click “Confirm.”
9. ChangeNow will generate a unique deposit address for you to send the cryptocurrency to. Copy the address and return to Coinbase.
10. On Coinbase where you left off on sending, paste the address you just copied. If the currency/coin you are sending requires a memo, make sure you also copy the memo from ChangeNow and paste it in Coinbase as well.
11. Now click send on Coinbase.
12. Once ChangeNow receives the cryptocurrency, it will automatically exchange it for USDT at the current exchange rate. You will receive the USDT in your Trust Wallet once the exchange is complete.
13. Once the transaction is complete, you should see the USDT balance in your Trust Wallet. You can now use the USDT to buy other cryptocurrencies, or hold it as a stablecoin.

Note: It’s important to be aware of the transaction fees associated with each step of the process, as they can add up and impact the final amount of cryptocurrency you receive. Additionally, be sure to double-check all wallet addresses and transaction details before submitting any transactions, as they cannot be reversed once initiated.

As I mentioned earlier, You will need TRX to send USDT from your Trust Wallet to another destination. Go back to Coinbase and buy 10–20 US Dollars worth of XLM and then go through the steps again, but this time select TRX (Tron) as the currency to receive.

When selecting USDT on ChangeNow, it will look like this.

If you’ve followed all the steps carefully, you will now have USDT (TRC20) in your own Trust Wallet with some TRX (Tron) to use for gas fees to send your USDT wherever you need to.

There are other methods to get USDT if you aren’t able to buy it on an exchange that you are able to deposit fiat. For example, prior to using ChangeNow, I would buy a coin on Coinbase and send it to an account I created on KuCoin. KuCoin is another large exchange and it does not require KYC which means almost anyone that can open the site can use it. By not completing KYC, you won’t be able to deposit or withdraw fiat and there are limits to daily transfers.

ChangeNow is non-custodial which means your funds aren’t actually held on the ChangeNow servers. They process the transaction and immediately send the fund on to the destination without actually take custody. There are advantages to this, but that is more than the scope of this article.

I will make one other suggestion that can save you some fees. If you are buying USDT to transfer to a special Defi project, many times you can skip sending to Trust Wallet and send right to the receiving address for the project you want to use. Transferring to Trust Wallet first and then somewhere else will cost you extra transaction fees that can possibly be avoided. In general USDT is cost effective for transferring, but there were some changes on the network a week or so ago that have some exchanges and apps charging a little more in fees. The last time I sent USDT from Trust Wallet it cost me around $2.3x US Dollars worth of TRX. I have not researched the exact reasons for the extra fees at the time of this writing, but I know that Binance was charging additional fees for transferring USDT temporarily and then made a new agreement with Tether and the fees were reverted. Let’s hope the fees all stay low.

When I share any projects in the futre that need USDT to get started, I will refer back to this article for anyone that needs instructions or assistance purchasing USDT.

Be sure to check out my other articles:

The Wild World of Crypto

As mentioned about in the Coinbase steps, if you use my referral link to join Coinbase, you will receive 10 USD worth of Bitcoin for free. I will receive free Bitcoin as well. If you’ve liked and used the steps in this article, please support me by using the referral link. Thanks!

Coinbase Signup Referral Link

Happy trading and as always trade safe! Only trade what you could afford to lose if a coin or project goes to zero.