What is the network used by USDT on Coinbase?

amusiQDec 29, 2021 · 3 years ago3 answers

Can you please explain what network is used by USDT on Coinbase? I'm curious to know the technical details behind it.

What is the network used by USDT on Coinbase?

3 answers

Dec 29, 2021 · 3 years ago
USDT, also known as Tether, is a stablecoin that is pegged to the US dollar. On Coinbase, USDT is primarily issued on the Ethereum network as an ERC-20 token. This means that USDT transactions on Coinbase are recorded on the Ethereum blockchain. The use of the Ethereum network provides transparency and security for USDT transactions on Coinbase.
Dec 29, 2021 · 3 years ago
USDT on Coinbase is built on the Ethereum network. This allows for fast and secure transactions, as well as compatibility with other Ethereum-based decentralized applications (dApps). The Ethereum network has a strong community and infrastructure, making it a popular choice for USDT and other tokens.
Dec 29, 2021 · 3 years ago
USDT on Coinbase is built on the Ethereum network. Ethereum is a decentralized blockchain platform that enables the creation of smart contracts and the development of decentralized applications. By using the Ethereum network, USDT on Coinbase benefits from the security, scalability, and global reach of the Ethereum ecosystem.

Related Tags

Crypto Investors
x 2657169
Cryptocurrencies
x 2626096
Reporting
x 2316653
Tax Liability
x 2195916
Tax Reporting
x 1787365
Tax Implications
x 1701793
Taxes
x 1677467
Tax Rules
x 886497
Cryptocurrency
x 839674

Hot Questions

How does cryptocurrency affect my tax return?

What are the tax implications of using cryptocurrency?

How can I protect my digital assets from hackers?

How can I minimize my tax liability when dealing with cryptocurrencies?

Are there any special tax rules for crypto investors?

How can I buy Bitcoin with a credit card?

What is the future of blockchain technology?

What are the best practices for reporting cryptocurrency on my taxes?