Exchanges

Binance: USDT addresses will be changed from OMNI-based addresses to ERC20-based

Binance exchange has announced today a major changes in in USDT addresses. It will be switching USDT addresses from OMNI-based addresses to ERC20-based, As quoted bellow:

Binance will suspend USDT deposits and withdrawals for approximately 30 minutes starting at 2019/07/04 08:00 AM (UTC). During this period, all USDT deposit and withdrawal addresses will be changed from OMNI-based addresses to ERC20-based addresses, and will be the default setting going forward. OMNI-based USDT can still be deposited to users’ previous OMNI USDT deposit addresses and will be accepted.
Please note: After this update, users will no longer be able to withdraw OMNI-based USDT.

The protocol used by USDT–Omni is the Omni layer protocol built on the BTC blockchain network. The USDT-ERC20 is the USDT issued by Tether based on the ETH network with currency address of ETH and withdrawal through ETH network. The USDT-ERC20 uses the ERC20 protocol.

Sying Tien

Professional Trader, Social media scholar and a Crypto expert. If you have any comments, suggestions or questions feel free to contact me at sying.tien@thecoinspost.com and i will get back to you shortly.