GCrypto Added Tron-Based Tether (USDT) to the List of Crypto Selection

GCrypto Lists Tron Network’s USDT

GCrypto, the Philippine-based cryptocurrency platform embedded on GCash, recently announced the addition of another crypto asset to their roster and started 2024 with another addition of assets. Users can now buy, sell, and trade Tether (USDT) from the Tron network on the platform. This latest inclusion increases the total number of digital assets available on GCrypto to 27.

The GCrypto trading wallet is inside the GCash app, although it is separate from your main wallet. The wallet allows users to convert PHP to crypto and vice versa, but you must have a GCash account to make a transaction in GCrypto. Buying crypto directly from GCash is not allowed, but you can purchase crypto through GCrypto by transferring your GCash funds to your GCrypto wallet.

The crypto wallet of GCash, GCrypto, is powered by PDAX, or Philippine Digital Asset Exchange. PDAX is a cryptocurrency exchange based in the Philippines, licensed and regulated by the Bangko Sentral ng Pilipinas. It provides Filipinos access to trade the world’s leading digital assets and is also listed as one of the VASP-licensed companies in the country.

About Tron’s Tether (USDT)

Tether (USDT) is a type of stablecoin, which is a cryptocurrency anchored to the value of a fiat currency, specifically the United States Dollar (USD). Tether aims to mirror the value of the USD, intending that each USDT token maintains a value equal to one USD. It serves as a transaction medium and a value storage method in the crypto market.

Tether is created by Tether Limited and functions on several blockchain platforms, including Ethereum as an ERC-20 token and Tron as a TRC-20 token. Tether Limited claims to support USDT’s stability through reserves of U.S. dollars that match the tokens in circulation.

In the previous year, USDT saw a significant increase in its market share, growing by 54%. This boost is linked to difficulties encountered by its competitor, BUSD. Paxos, the issuer of BUSD, ceased stablecoin issuance following orders from the New York Department of Financial Services.

Difference Between Ethereum and Tron version of USDT

When comparing Ethereum and Tron versions of USDT, the key difference lies in their respective blockchain networks. Ethereum-based Tether is an ERC-20 token, while Tron-based Tether is a TRC-20 token. These tokens differ in address formats: ERC-20 tokens have Ethereum addresses starting with “0x”, and TRC-20 tokens use Tron addresses, usually beginning with “T”.

Crypto traders often favor using TRC USDT due to its cost-effectiveness in transactions. The TRON network, on which TRC USDT operates, is known for its speed, resulting in quicker transactions than those on the Ethereum chain. This efficiency in both cost and speed makes TRC USDT a popular choice among cryptocurrency traders.

There are speculations about whether a crypto user can transfer USDT between ERC20 and TTRC20 – according to experts, you can transfer both tokens. It creates liquidity across the chains and allows users the freedom to transact in their best interests. Crypto users can also sell and buy USDT from any network on websites that support the token.

List of Crypto Selection on GCrypto

• Bitcoin (BTC)
• Ethereum (ETH)
• Ethereum Tether (USDT)
• Tron Tether (USDT)
• USD Coin (USDC)
• Uniswap (UNI)
• Chainlink (LINK)
• Aave (AAVE)
• Basic Attention Token (BAT)
• The Graph Token (GRT)
• Enjin (ENJ)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Avalanche (AVAX)
• Polygon (MATIC)
• Polkadot (DOT)
• Axie Infinity Shards (AXS)
• Smooth Love Potion (SLP)
• Cardano (ADA)
• Solana (SOL)
• Binance Coin (BNB)
• Stellar (XLM)
• SushiSwap (SUSHI)
• Ripple (XRP)
• Paxos Gold (PAXG)
• Shiba Inu (SHIB)
• ApeCoin (APE)

How to Use GCrypto on GCash

1. Open your GCash app and select “GCrypto”.
2. Top-up your GCrypto wallet using your available funds from GCash.
3. Choose your desired cryptocurrency.
4. Select either “Buy” or “Sell”.
5. Enter your desired amount in either PHP or crypto.
6. Review and confirm the transaction details.

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