USDT vs USDTe
What's the difference between USDT and USDT.e on the NEAR Protocol?
USDT and USDT.e are two tokens available on the Near network, both of which are pegged to the US dollar. The key difference is that USDT.e is a "wrapped token" originally issued by Tether (https://tether.to/) on the Ethereum blockchain and later bridged over to the Near blockchain via the Rainbow Bridge. (https://rainbowbridge.app/)
As the Near Protocol has grown, the demand for stablecoins has increased. Tether decided to launch its USDT token directly on the Near network, meaning it's not wrapped but issued natively and officially.
How to Swap USDT.e for USDT
The easiest way to convert USDT.e to USDT is to use the swap feature in the HERE wallet. We aggregate various decentralized exchanges and provide our users with the best rates. To make the exchange, follow these instructions:
Click on "Swap" -> Select USDT.e and USDT -> Review -> Confirm
Is USDT.e Safe?
The safety of USDT.e depends on the security of the Rainbow Bridge. This bridge gives you wrapped USDT.e on the Near network in exchange for real USDT on the Ethereum network. The Rainbow Bridge is rightfully considered one of the safest bridges, but we strongly recommend exchanging your USDT.e for USDT to eliminate the risk of the bridge being compromised.
Can You Send USDT.e to an Exchange?
Major centralized exchanges only support USDT. Under no circumstances should you send USDT.e to your exchange address. But what if you've already sent USDT.e to an exchange? Technically, your USDT.e has reached the exchange address, but the exchange won't display it. In this case, you should immediately contact your exchange's support and request them to send your funds back to your wallet. However, exchanges may charge a fee for this operation, and the fee can be as high as $500.
However, HERE wallet has a feature to warn users against sending to an exchange. If you attempt to send USDT.e to a non-identifiable account (all exchange addresses are non-identifiable), HERE wallet will provide you with a warning.
In conclusion, both USDT and USDT.e are stablecoins pegged to the US dollar, but they have different origins within the Near Protocol network. USDT.e is a wrapped token transferred from the Ethereum blockchain through the Rainbow Bridge. In contrast, USDT is a native token officially issued within the Near network. Users can conveniently convert them using HERE wallet, ensuring security and preventing errors when sending to exchanges. It is important to be aware of the security of the Rainbow Bridge and prefer exchanging USDT.e for USDT to minimize risks.
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