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BitMEX, one of the leading digital asset exchanges has announced today that they would start providing support to the (USDT-TRC20) USD-pegged stablecoin issued on the TRON network.

With the added support to the USDT-TRC20, BitMEX would go multi-network support for USDT transactions alongside the USDT ERC-20. This would also provide options to its users and depending on the preferred network, users can take advantage of the USDT-TRC20 with its low fees and real-time transaction speeds.

The multi-network support for USDT on the said platform would allow users to have a combined wallet balance for both USDT-TRC20 and USDT ERC-20 regardless of which network they have deposited the stablecoin.

This is also applicable to withdrawals as long as it is on BitMEX, users would be able to withdraw their USDT ERC-20 into USDT-TRC20 without any issues.

What is BitMEX?

BitMEX is one of the leading cryptocurrency exchanges in the market and was established in 2014 by finance professionals with over 40 years of combined experience. BitMEX is owned by HDR Global Trading Limited which is registered in Seychelles.

The digital asset exchange has a wide variety of supported cryptocurrencies, including:

  • Bitcoin (XBT)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple Token (XRP)
  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Cardano (ADA)
  • EOS Token (EOS)
  • Tron (TRX)
  • Tether (USDT)

Users would be able to purchase a selected number of cryptocurrencies on BitMEX using fiat currencies and they would have the flexibility to choose from the supported 36 fiat currencies.

BitMEX provides digital asset financial services such as spot trading, derivatives, cryptocurrency conversions, and their staking platform called BitMEX EARN.

The crypto exchange platform also has its very own native token called BMEX which is an ERC-20 token with a 450 million tokens max supply and provides benefits to its holders. BMEX is minted at once and vested over a period of up to five years.

Lastly, when it comes to security, BitMEX employs the latest in multi-factor security on its platform and prioritizes customer security always.

What is USDT TRC-20?

USDT (TRC-20) is a U.S. dollar-pegged stablecoin issued by Tether on the TRON blockchain and it is one of the most popular coins asides from BTCTRON, ETHTRON, and TRC20-TUSD. It also uses a TRON address for deposits and withdrawals which takes place on the TRON blockchain.

The token is tied to the USD on a 1:1 ratio, which makes it a lot less volatile than other cryptocurrencies.

The TRON-based USDT has been one of the popular stablecoins on the blockchain and recently reached 15,371,854 holders this year.

For more news and updates, see Tron Spark.

Comments

Jino Tokieda

Former EMEA/APAC Operations Executive for a global photography company with 5 years of experience working with top technology companies in the US and have been involved with cryptocurrencies since 2019. Always been a fan of TRON and started getting into the TRX scene around 2020. Besides creating articles for Tron Spark, I'm a skateboarder and a full-time dad to two wonderful kids.

BitMEX: USDT-TRC20 Deposits and Withdrawals Now Supported