Why You Need ETH to Send USDT (Crypto Fees Explained)
45sThis segment clarifies a common confusion for crypto users, making it highly relatable and educational for TikTok's crypto-savvy audience.
▶ Play ClipAI Summary
This video explains the fundamental difference between coins and tokens in the cryptocurrency ecosystem, focusing on how transaction fees are paid. It clarifies that tokens are assets issued on an existing blockchain, and the fee for transferring them is paid in the native currency of that blockchain, not in the token itself.
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Definition of Tokens
Tokens are assets issued on an existing blockchain. When you transfer a token, you do not pay the network fee in that token; you pay it in the native currency of the blockchain you are using.
[00:13]
Example with SDT on Ethereum
If you hold SDT, a token on the Ethereum network, you must have Ethereum (ETH) in your wallet to pay the transfer fee. The fee is not paid in SDT.
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Example with USDC on BNB Smart Chain
If you hold USDC on the BNB Smart Chain, you need BNB to pay the network fee, because BNB is the native currency of that chain.
Understanding that token transfers require the native coin of the underlying blockchain for fees is essential for managing crypto wallets and avoiding failed transactions.
Study Flashcards (4)
What is a token in the context of blockchain?
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What is a token in the context of blockchain?
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A token is an asset issued on an existing blockchain.
When transferring a token, which asset is used to pay the network fee?
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When transferring a token, which asset is used to pay the network fee?
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The native currency of the blockchain on which the token exists.
If you hold SDT on Ethereum, what do you need to pay the transfer fee?
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If you hold SDT on Ethereum, what do you need to pay the transfer fee?
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Ethereum (ETH).
00:13
If you hold USDC on BNB Smart Chain, what asset is required for the network fee?
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If you hold USDC on BNB Smart Chain, what asset is required for the network fee?
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BNB.
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💡 Key Takeaways
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Token Fee Principle
Clearly establishes the core rule that token transfers require the native coin of the underlying blockchain for fees.
Full Transcript
[00:00] Agora, existem os tokens. Os tokens é um ativo que é emitido em uma blockchain já existente. Nesses casos, você não paga a taxa de rede no token que você está sacando, mas sim no token da rede que você está usando.
[00:13] Exemplo, se você tem o SDT, o SDT é um token, ele está na sua carteira na rede Ethereum. Logo, você tem que ter Ethereum, que é a moeda da rede, para pagar a taxa de transferência, você não vai pagar no token.
[00:27] Se você tem USDC na rede BNB Smart Chain, você precisa de qual ativo para pagar a taxa de rede? Se você falou BNB, você acertou, porque BNB é a moeda daquela rede.
