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Why is there no handling fee for trc20 withdrawals (Is trc20 withdrawal fast)?

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Why is there no handling fee for trc20 withdrawals Editor\’s note: This article

Why is there no handling fee for trc20 withdrawals (Is trc20 withdrawal fast)?

Why is there no handling fee for trc20 withdrawals Editor’s note: This article comes from BlockBeats(ID: BlockBeats), author: 0x29, authorized reprint of Odaily Star Daily.

With the continuous development of the Polkadot ecosystem, more and more people have started to join the Polkadot network and participate. However, we also know that Polkadot is not building itself for better decentralized applications and solutions. Therefore, the Polkadot team has launched its own token TRC20, this new token named TRX is based on the ERC-20 standard developed on the Ethereum platform. It is a completely fee-free ERC20-token and is developed by the Polkadot-led TRON, so everyone can now freely withdraw USDT, BTC, and other mainstream currencies. Why not use transaction fees? First, you need to register your account, then click on the trc20 transfer link in the wallet to complete the transfer, and no transaction fees are required. If a user wants to withdraw TRX from an exchange to their account, they need to pay 1 USDT as a handling fee. If you want to withdraw, you just need to deposit TRP, because this money will always exist in your mobile phone until the funds are frozen. But if you want someone to exchange Bitcoin for cash or dollars, you must charge 2 cents or less, otherwise you may lose $10 or even more. This is a high handling fee. Secondly, if someone wants to hold a certain amount of encrypted assets in your wallet, then they will definitely keep the private key before receiving it and will not send it to the other party in this way. Finally, when someone sends a message to someone, confirm that you have received the message, but you did not receive the message immediately, which causes the transaction to not continue. This is due to various reasons, which will affect your subsequent operations, including your TPT will be transferred to the specified address, and so on. These are the main reasons for transaction delays. Of course, many people also believe that if the transaction delay is due to the user’s lack of understanding of the transaction amount, it will cause the transaction to fail. But for those who are worried about the speed of transaction processing, they say, “I suggest you choose to use transaction fees instead of handling fees.” Another saying is “for safety reasons”, that is, if users are willing to use their TRX to buy Bitcoin, they should pay a handling fee, but this is to avoid hacker attacks and other issues. In fact, stablecoin issuers like Tether on Polkadot are the same. “I like to convert our fiat currency into fiat currency on the blockchain, just like the fiat currency we use every day, but it doesn’t mean that you can’t buy things with worthless money,” Alex Vasiliev, CEO of Polkadot, told BlockBeats. “I am really happy to help the Polkadot team achieve this vision.

Is trc20 withdrawal fast?

Recently, the TRC20 token supported by Polkadot TRON officially went online on the Huobi ecological chain Heco. According to the latest data, there are currently more than 200 million TRX transferred to Huobi exchange through ERC20. And recently, after completing the TRC20-USDT withdrawal on Huobi, users can directly withdraw from the hot wallet to their own wallet to enjoy the income (official website screenshot).

It is reported that Huobi announced on November 17, 2020, that it will support the recharge and withdrawal functions of ERC20’s TRC20Token.

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