Does BC Vault support TETHER (USDT)?

Modified on Tue, 13 Dec 2022 at 12:04 PM

Yes. BC Vault does support Tether (USDT) as ERC20 token on any supported EVM Network (Ethereum, Polygon, Cronos...). You can add it as a custom ERC20 token:

Instructions: Custom ERC20 Tokens

WARNINGTETHER is available in on many different networks (Omni, Ethereum, Polygon...). Be sure to use correct supported network! BTC Omni is not supported for example.

Anyone who wishes to move their USDT to a wallet must first figure out which type of USDT they have as the two types are not compatible with each other. If you deposit the wrong type of USDT into the wrong wallet, you will lose your funds.

Which type of USDT do I have?

There are several methods to check which type of USDT you have in your account.

  1. Check the withdrawal address
  • ERC20-based USDT will begin with an “0x”
  • Omni Layer-based USDT will begin with a random string of numbers or letters, most often starting with either “1”, “3” or the new SegWit prefix “bc1”.
  1. Check with the exchange
  • Contact the customer support of the exchange you wish to withdraw from and check which type of USDT they host.
  1. Test the wallet with a small amount
  • You should only use this as a last resort since it may result in a loss of funds (albeit a small amount). If you cannot confirm the type of USDT you have, you can always send a very small amount to a USDT wallet to figure out if you have the type that wallet supports. If the funds arrive, then you have the same type of USDT supported by that wallet. If they are lost, then you may assume you have the other type and should perform the same check with the other wallet type to be sure.

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