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Users to Enjoy Reduced Fees as Paxful Adds Tron (TRC-20) USDT



Largest peer to peer marketplace for giftcards and cryptocurrency Paxful has added support for Tron based USDT to reduce fees for its users. Paxful made the announcement via a blog post. According to Paxful, this will help reduce the cost of sendout fees.

Paxful has been innovating the peer to peer platform and has added several features over the past few months.

Read also: China’s First Cryptocurrency Exchange Shuts down Activities Amid Beijing Crypto Crackdown 

Paxful users have been sharing concerns online across multiple social media platforms and forums about the fees they pay in sending out their cryptocurrencies from the trading platform.

It is common knowledge that transaction fees for the two top cryptocurrencies had reached a great high the past months and this present to users difficulties in making certain transactions across the industry.

Read also: Mexican Bank, Banco Azteca Working to be the First Bank in Mexico to Accept Bitcoin.

For users in the Peer to Peer market of Paxful, when the fees go higher as a result of network congestion, sending out cryptocurrencies with high fees affects reduces their profits and this impacts the trading experience.

Different Crypto Address Structures

To avoid confusion, Paxful advise users to check for supported wallets in case they intend to withdraw their Tron based USDT. Considering users have gotten used to the ETH– based USDT on the platform, and that Tron shares different address structure from Ethereum, paxful advised its users to be careful when sending out – to select the appropriate USDT and the supported wallet for receiving.

Paxful also informed users that it supports the Tron based USDT and not the native token of the Tron Blockchain (TRX).

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