USDT 101 for freelancers: TRC20 vs ERC20 vs Solana
What is USDT?
USDT (Tether) is a stablecoin issued by Tether and designed to track the US dollar. The peg is not guaranteed, and the exchange or service where you hold it adds its own risk. Read the issuer's reserve reports on its website before you hold large sums.
For freelancers it is one way to receive international payments. Whether it is cheaper than PayPal depends on your whole route: the network fee, the exchange fee, and what it costs you to turn USDT into your local currency. Enter your own numbers in the crypto fee calculator.
The networks — how they differ
The same USDT can exist on several networks, and they are not interchangeable. We do not quote network fees or speeds here: they are set by the network and by the sender's service, and they change.
| Network | Chain | Address looks like |
|---|---|---|
| TRC20 | Tron | Starts with T |
| BEP20 | BNB Smart Chain | Starts with 0x |
| ERC20 | Ethereum | Starts with 0x |
| Arbitrum / Optimism | Ethereum layer-2 networks | Starts with 0x |
| Solana (SPL) | Solana | Long string of letters and digits, not starting with 0x |
Step-by-step: give your client a payment address
- Open your exchange app. Go to Deposit → USDT.
- Select the network you agreed with your client.
- Copy the address and check that its format matches the network (see the table).
- Send it to your client together with these exact words: "Network: [network]. Please confirm before sending."
- When the payment arrives, it appears in your exchange wallet. The time depends on the network.
Don't have an exchange account yet? If you decide to try a USDT route, Binance (affiliate link) is one exchange to compare. Availability depends on your country; check Binance's official list first.
Affiliate link: we may earn a commission if you sign up. No bonus is promised. Binance's global exchange (binance.com) is not available to US residents and in some other countries: check its official list before you sign up. How we make money
Common mistakes (and how to avoid them)
- Mixing networks. Biggest mistake. Always match the network on both ends.
- Paying a high network fee on a small invoice. A fixed fee weighs more on a small invoice: for example, a $10 fee on a $100 invoice is 10% (an arithmetic illustration, not a quoted fee).
- Not testing first. Do a small test send before a large invoice.
- Wrong memo/tag. Exchanges sometimes require a memo. Check before confirming.
- Leaving large sums on the exchange. If you're holding long-term, consider a self-custody wallet, and learn how it works before you move funds.
FAQ
Is USDT safe? No stablecoin is risk-free. USDT is issued by Tether, its peg to the dollar is not guaranteed, and the service you hold it on adds its own risk. Read the issuer's reserve reports and keep only what you need on any service.
Which network should I pick? The one your client and your exchange both support. Compare the withdrawal fee the sender's service shows before sending.
Can I convert USDT to my bank account? Some exchanges offer P2P in some countries: you pick a buyer, they pay your bank, you release USDT. Availability, payment methods, spreads and timing depend on your country and the merchant; check the exchange's official P2P pages.
What about USDC? USDC is another stablecoin. Networks, fees and exchange support differ from USDT; see our USDT vs USDC guide.