The token contract address of cryptocurrencies such as Tether (USDT) is needed when adding a new token to a digital wallet.
Digital wallets usually generate a new address for each transaction. This address which can be 26-35 alphanumeric strings or unique identifiers, can be likened to an email address.
In this post, we’ll see the contract address of Tether’s USDT. Before then, let’s know more about the USDT token and a token contract address.
What is USDT?
USDT is a cryptocurrency issued by Tether Limited. Each USDT token is backed by 1 US dollar. The price of USDT is, therefore, $1 even when other cryptos are down.
Tether [USDT] is the largest and most famous” Stablecoins” (they have stable prices). USDT is the third largest cryptocurrency today, following Bitcoin and Ethereum.
Tether converts cash into digital currency; this is done by converting the coin’s value to the price of fiat currencies like the USD, EUR, and the Japanese Yen.
Tether [USDT] is issued on the ETH, TRON, and OMNI blockchains. Aside from the popular token pegged to the US dollar, Tether limited has launched tokens pegged to other fiat currencies such as the Euros, Pesa, etc.
USDT
What is a Token Contract Address?
A token contract address is the actual token contract location that manages the tokens’ logic. This is different from the digital wallet address.
The token address helps to know the exact token one is referring to when adding a new token on a digital wallet such as MetaMask. The token address itself is the location of the smart contract, which are programs stored on a blockchain.
Where to Find a Token’s Contract Address
If you own a crypto asset, you can be conversant with the digital wallet address. There are two main ways to own a Token contract address. They are discussed below.
1. Through a Block Explorer- You can find a token’s contract address on block explorers such as BscScan, PolygonScan, and EtherScan. These explorers hold ERC-20 tokens and their equivalents on their networks.
You can search for the crypto token to find a token’s contract on any of these block explorers. The contract address, which is made up of alphabets and numbers, will be seen and can be copied.
2. Through a Token listing Site– A token’s contract address can also be found on an ERC-20 token listing site such as CoinMarketCap and CoinGecko.
Once you’ve inputted the token’s name, you will find the contract address, which can be viewed in mobile and extension forms on MetaMask.
What is USDT Contract Address?
USDT is issued on the ETH blockchain, which makes it an ERC-20 token. USDT contract address is given as 0xdac17f958d2ee523a2206206994597c13d831ec7.
The ERC-20-compliant token can be added to the MetaMask wallet and other platforms integrating existing and new tokens into their functions.
Where to Sell USDT?
If you ever find yourself in a position to sell USDT in Nigeria, Prestmit is the best place for you. You can exchange your gift cards for Tether (USDT) on this platform.
Once you create and register on this platform, you will get a Tether (USDT) wallet if you sell your USDT. Asides from exchanging your USDT for gift cards and the Nigerian Naira, you can also get paid in Ghanaian cedis.
Sell USDT in Nigeria on Prestmit
Conclusion
USDT is an ERC-20-compliant token which has its unique contract address. USDT contract address can be found on a block explorer network or a token listing site.
A token’s contract address is a unique address allocated when a smart contract is deployed on a blockchain. A token’s contract address differs from the digital wallet address. Digital wallets usually generate a new address for every transaction.
