In today's era of booming digital currency, the currency withdrawal chain, as an important part of it, plays a vital role. Understanding the different types of currency withdrawal chains is crucial for investors and practitioners. In this article, we will delve into three different types of currency withdrawal chains, reveal their operating principles and characteristics, and take you on a mysterious journey into the crypto world.

Blockchain Coin Withdrawal Chain

Blockchain currency withdrawal chain is the most common type of currency withdrawal chain, which is built based on blockchain technology. This currency withdrawal chain realizes the issuance and circulation of digital currency through the distributed accounting technology of the blockchain. Cryptocurrencies represented by Bitcoin are issued through the blockchain withdrawal chain. The blockchain currency withdrawal chain is characterized by decentralization, high security, and transparent transactions. The successful case of Bitcoin proves the feasibility and advantages of the blockchain currency withdrawal chain.

Smart Contract Coin Withdrawal Chain

The smart contract currency withdrawal chain is a type of currency withdrawal chain built based on smart contract technology. Smart contract platforms represented by Ethereum allow developers to deploy smart contracts on the blockchain to automatically execute contract terms. On the smart contract withdrawal chain, users can issue their own tokens and define token issuance rules and circulation methods. The characteristics of this currency withdrawal chain are proceduralization, high flexibility and strong programmability. Many emerging digital currency projects choose to issue tokens on the smart contract withdrawal chain.

Side chain coin withdrawal chain

The side chain currency withdrawal chain is a type of currency withdrawal chain that is interconnected with the main chain. On the side chain currency withdrawal chain, users can lock digital assets on the main chain and then trade and circulate on the side chain. The emergence of the side chain currency withdrawal chain has effectively solved the problems of main chain transaction congestion and high handling fees, and improved the overall transaction efficiency. Famous side chain currency withdrawal chain projects include Lightning Network and so on. The characteristics of this currency withdrawal chain are rapidity, low cost, and strong scalability.

By analyzing these three different types of currency withdrawal chains, we can see that each currency withdrawal chain has its unique advantages and applicable scenarios. Investors and practitioners need to choose the appropriate type of currency withdrawal chain for operation and investment based on their own needs and risk preferences. The future of the crypto world is undoubtedly full of infinite possibilities, and an in-depth understanding of the withdrawal chain will be the key to seizing the opportunities. I hope you will overcome obstacles, explore and move forward in this digital era, and create a better future together.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

I wonder if investors have noticed when withdrawing coins from exchanges or blockchain wallets that there are different types of chains when withdrawing coins. During the process of withdrawing coins, we must ensure that the network channels of the withdrawal transfer and deposit addresses are the same. Once one party makes an error, the withdrawal operation will not be successful. In fact, for investors, a reliable currency withdrawal network is still very important. It can provide users with better security and a better service experience. Many investors are still confused about what are the three chain types for withdrawing coins? Let the editor of the currency circle explain it to everyone in a simple way.

 Popular explanation of the three chain types of currency withdrawals

There are currently three popular currency withdrawal networks in the digital currency market, namely the OMNI network, the ERC20 network and the TRC20 network. Let’s introduce them in detail below.

1. Omni-USDT has the best security, but the transfer speed is too slow and the withdrawal fee is the highest. If you are not in a hurry to process a large number of orders, you can choose Omni-USDT first.

In 2014, USDT was born on the Bitcoin network and was officially launched on multiple major exchanges in February 2015. Before 2018, USDT had only one transfer channel, which was Omni-based on the Bitcoin network.
USDT. Omni-USDT is stored on a Bitcoin address, so every time you transfer, you pay Bitcoin as a miner fee. Omni-
USDT is located on the Bitcoin network chain, and the cost of hacking is very high, so the assets are relatively safe. However, its transaction speed is very slow and cannot meet the needs of today’s crypto trading market, but many large exchanges still prefer to use Omni-
USDT.

2. The security and transfer speed of ERC20-USDT are at a medium level, and the withdrawal fee is second. It is suitable for frequent transactions in the digital currency market. If you often conduct short-term transactions, you can choose ERC20-USDT first.

In 2018, the Ethereum network became popular, blockchain applications were also widely used, and ERC20-USDT appeared. With Omni-
Like USDT, using ERC20-USDT also requires payment of absenteeism fees, but the transfer speed has been significantly improved. Due to its good security and fast transfer speed, ERC20-USDT has been widely accepted by the market, USDT
The issuer of TEDA has also begun supporting the more efficient Ethereum ERC20. Because the comprehensive index is higher, it is more popular on mainstream trading platforms.

3. TRC20-USDT has the fastest transfer speed and the lowest currency withdrawal procedures, but the security is relatively low. Suitable for friends who need to get an account quickly. It is recommended to use a small amount. Now, transfers usually only take a few minutes.

In 2019, the development zone announced the issuance of USDT based on the TRC-20 protocol on TRON, and TRC20-USDT was born. At the time of launch, it promised complete transparency, zero fees, and payments within seconds. Unlike the previous two times, there is currently no handling fee for TRC20-USDT transfers.

 How to choose the type of coin withdrawal chain?

In addition to different addresses, the transfer speed and handling fees are also different if you choose different chain types. If you want to transfer money quickly and are pursuing speed, you should choose the TRC20 chain type of the Tron blockchain. The TPS of the TRON network reaches 1,500 TPS. Currently, the fastest transfer is TRON USDT.

If you care about handling fees and want lower transfer fees, you should also choose the TRC20 chain type. Because of the TRC20 chain type transfer, the handling fee is 0. The handling fee for the ERC20 chain type is 2USDT, which is about 14 yuan. The OMIN chain type has the most expensive handling fee, requiring 5 USDT, which is about 35 RMB.

But if you want the transfer to be safer, then choose the OMIN chain type of the Bitcoin network. Although this chain type has a higher handling fee, it has good security. It makes sense to be expensive.

The above content is the popular explanation of the three chain types of currency withdrawals by the editor of the currency circle. What everyone needs to note is that there is no difference between the three types of USDT on the exchange: ERC20, TRC20, and Omni, but they are not interoperable on the chain. As we said at the beginning of the article, the USDT on Omni It cannot be transferred to the other two chains, so we must pay attention to the address type when depositing and withdrawing USDT on the exchange. Users choose different chain types, and their transfer speeds and handling fees are also different. We have introduced three different chain types to you above, each with its own characteristics. You can choose according to your own needs.