USDT Transfer Time | How long does USDT take to transfer?

USDT Transfer Time | How long does USDT take to transfer?

Robert McDougall 

October 11, 2022

Cryptocurrency

You can now transfer USDT using several different blockchains, which is mainly due to the expansion of Tether. However, it also means that transaction times will vary due to several factors. In this article, we will clarify how USDT transactions work, how long it takes for the transfer to complete, and other important facts related to USDT.

   Key Takeaways

  • USDT doesn't have its own blockchain, and instead uses other networks to transfer the coin
  • USDT transaction times depend on the blockchain
  • USDT transfers usually take between 1 - 10 minutes
  • Network congestion and destination address can affect transfer speeds
  • Increasing gas fee may speed up USDT transaction

USDT Transaction | What is it?

USDT doesn’t have its own blockchain network. It leverages other networks to transfer the coin between users. For example, a USDT ERC-20 is a version of a USDT coin associated with the Ethereum network and can be transferred using an Ethereum wallet and address. The USDT Omni coin is associated with Bitcoin, which you can transfer using a Bitcoin wallet and address.

How Long Does USDT Transaction Take?

The time it takes to transfer USDT depends mainly on the blockchain that you use. Some external factors, such as wallet address and network congestion can also affect the transfer speed. In most cases, it takes between one minute and ten minutes to complete the transaction.

However, during high congestion, it can take more than an hour on the Bitcoin network. In such situations, a higher gas fee might help speed up the transaction by putting your transaction higher in the queue.

On the other hand, blockchains such as Solana are known for their amazing transaction speeds. Developers of both platforms state that each blockchain can handle over 60,000 transactions per second. Although both blockchains currently work at a much lower capacity, USDT coins can still be sent and received in less than 20 seconds.

Other Factors that Affect Transaction Speed

There are two more factors that can affect transaction speed – network congestion and destination address. 

Network Congestion

The architecture of all blockchains that support USDT is different, but transaction speed can significantly be affected by the number of users. As the volume of users increases, it becomes more difficult to process all the transactions.

Note also that network congestion has a much more significant impact on blockchains that can’t offer high throughput. For example, during high network congestion, USDT transactions conducted on Solana will take tens of seconds longer. However, USDT transactions performed on blockchains such as Ethereum might take tens of minutes longer.

Destination Address

The wallet address is another factor that can affect transaction speed. There are two main types of crypto wallets: non-custodial, also known as personal crypto wallets, and custodial crypto wallets, such as those kept on a crypto exchange. Due to security reasons, different wallet providers might require different safety confirmations before the coin is transferred, which directly affects the transaction speed.

What are Blockchain Confirmations?

To confirm the transaction, some wallet providers may require a transaction to have a specific number of validations by the blockchain network. Every time a blockchain validates a transaction, it counts as 1 confirmation.

Note that the number of confirmations differs between different destination addresses. Most crypto exchanges will require many confirmations to ensure that the transaction is completed properly. When a certain number of confirmations is completed, the transaction will be executed.

Since USDT can be sent using different blockchains, the number of confirmations mainly depends on which blockchain the coin has been sent from. Coinbase requires 14 confirmations, while Kraken and Tron require 20 and Crypto.com requires 12.

Is USDT the Quickest Stablecoin?

The USDT is not the quickest stablecoin, but the answer is more complex than it seems. As mentioned, the speed of transactions is affected by blockchain and external factors such as wallet address and network congestion. This also applies to other stablecoins such as USDC and TUSD. Therefore, while USDT might not be the fastest, it is also not the slowest crypto to transfer. There are different factors that affect the speed of crypto transactions.

Can You Speed Up a USDT Transaction?

You can make the USDT transaction quicker by increasing the gas fee payment. Note that the gas fee is required to send coins, either by a miner or a validator. Some blockchains allow you to increase the gas fee so that your transaction is more favored by validators or miners. Ethereum, for example, allows you to add an additional tip to the transaction. However, no matter if you increase the gas fee or leave a tip, there is no guarantee that your transaction will be faster.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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