Around The Block: PrimeXBT Adds Tron Support For Stablecoins

During bear markets, the best trading platforms are the ones that continue to build and grow. With two crypto winters under its belt, the PrimeXBT trading platform appears unstoppable, fortifying its feature set and best-in-class suite of trading tools while other companies crumble under the pressure of the downtrend.

Although the market is less congested than previously, PrimeXBT and its users are now ready for the next crypto bull run with TRON Blockchain support, BNB Smart Chain, and the Ethereum network. 

Here is more information on the implementation of TRON support into the PrimeXBT platform for speedy and low-cost stablecoin deposits and withdrawals. 

Phantom Pains Of High ETH Gas Fees

ETH gas fees aren’t as high as they used to be, but the painful trend can return at any moment, where the network is too congested to the point where sending stablecoins costs a fortune.

Rewind to one year ago. The crypto bull run was in full effect. DeFi was lauded as the most disruptive trend to hit finance in history. NFTs are the next big thing, with thousands of new tokens being minted daily.

Most of this activity was operating on the back of the Ethereum Blockchain. Network users were forced to deal with excessively high ETH gas fees without proper scalability. Swapping coins on decentralized exchanges cost in fees what would have been more than a full Ether at 2018 bear market lows.

Worst of all, however, was sending stablecoins. The benefit of holding stablecoins is that users can expect the price of their assets to stay the same, and they don’t anticipate spending $50 in ETH gas fees to send $100 in USDT or USDC.

A More Stable Coin Experience

Stablecoins are tokens living on the Ethereum Blockchain using the ERC-20 token standard. As a big first market mover, Ethereum is the second-largest cryptocurrency by market cap. Thousands of other tokens transact across the Blockchain, adding to the congestion. 

As other foundational layer Blockchains emerge, new token standards compatible with ERC-20 tokens have been developed that allow the tokens to be bridged across multiple Blockchains, each with unique benefits such as speed and scalability.

BNB Smart Chain was among the first to gain significant traction, launching the BEP-20 token standard, allowing easier conversion and compatibility between the BNB and Ethereum standards. 

TRON is even faster and cheaper than BNB Smart Chain, with its TRC-20 token standard. Both token standards ensure that users aren’t stuck with the burden of high ETH gas fees when they hold stablecoins.

TRON Support Brings Blockchain Benefits To PrimeXBT

The award-winning trading platform PrimeXBT recently added support for the TRON Blockchain for stablecoin deposits and withdrawals. By adding TRON Blockchain support, stablecoin send times are even faster. 

For example, USDT and USDC TRC-20 stablecoins require 20 block confirmations on the TRON Blockchain, taking roughly one minute. In comparison, it takes up to four minutes for ERC-20 stablecoins.

PrimeXBT users can toggle which Blockchain they want to use within the PrimeXBT dashboard wallet system. Remember to only send TRC-20 USDT and USDC tokens to the TRC-20 wallet, or you could lose your money.

In addition to USDC and USDT, users can deposit BTC, ETH, or COV to fund a margin trading account or access PrimeXBT’s cryptocurrency-based products and services.

Access The Full Suite Of Trading Tools Anywhere

The margin trading platform provides access to more than 100 different trading instruments under one roof across forex, commodities, stock indices, and cryptocurrencies. Using leveraged long and short positions and stop loss protection, traders get full control over their positions and portfolio.

The all-in-one solution includes educational services like the PrimeXBT trading academy and weekly competitions where you can test your skills and compete for prizes using PrimeXBT contests. There is also a massive help center and 24/7 live customer support. 

The Covesting ecosystem is also included in the experience. From Covesting yield accounts to Covesting copy trading and the COV token, there are various ways to generate an income passively and maximize earnings. The copy trading community is filled with some of the savviest traders around.

All this and more are available using either the browser-based platform or the free smartphone app for Android and iOS devices. Users can access the app to manage their accounts & positions to buy crypto. With TRON support now added, PrimeXBT offers users alternatives to keep more money and save time. Check out TRON Blockchain support on PrimeXBT today.

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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