(3) Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange? What are the different markets available for TRX and STEEM to trade in Poloniex? Perform a small trade in either TRX or STEEM in Poloniex? What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex? How cost-effective is TRC20 USDT as compared to ERC20 USDT? Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?
Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange?
the steps below are required to make the transfer.
📌 step 1
Go to steem wallet and tap on the available steem tokens. A list of menu then pops up, click transfer.
📌step 2
We now know the requirements for the transfer, so launch our Poloniex exchange. Click wallet, and then click deposit. Again make a search for steem coin and click on the Steem coin. The recipient address with the memo required to make the transfer will be displayed.
📌step 3
Now complete your steem transfer with the address and memo from the Poloniex exchange. Type the amount of steem to transfer and click Next. Confirm transfer details and click Ok to authorize transfer.
📌step 4
Confirmation of transfer if it was successful.
screenshot taken from the steemit wallet
screenshot taken from the Poloniex exchange
screenshot taken from the Poloniex exchange
To transfer TRX on poloniex,
📌 go to deposit from the Poloniex wallet illustrated below and search for TRX from the search bar to copy the address.
📌 copy the TRX address and visit back your steemit wallet.
📌 tap on the TRX tokens available and then transfer.
📌 paste your recipient address and enter amount to transfer. Click next to initiate Transaction and OK to confirm the transaction.
Here is a proof of successful transfer of 10 trx to my Poloniex account.
What are the different markets available for TRX and STEEM to trade in Poloniex?
For STEEM
The different markets available to trade Steem are illustrated below
Only three different pairs are available for Steem on the poloniex exchange.
- STEEM/USDT
- STEEM/TRX
- STEEM/BTC
For TRX
There are a lot of trade pairs available on poloniex exchange for TRX. Below are the available pairs.
Perform a small trade in either TRX or STEEM in Poloniex?
I will like to perform a TRX/USDT trade.
📌 First of all, click on wallet at the bottom and click on your TRX tokens to see all the available markets. Choose TRX/USDT pair. I would like to trade 10 TRX for USDT.
📌 go to trade and then click sell. Enter trade amount, click Sell TRX and confirm.
📌 Trade completed
What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex? How cost-effective is TRC20 USDT as compared to ERC20 USDT?
Withdrawal fee for TRX
TRX withdrawal fee is 0.01 TRX illustrated above from the screenshot.
Withdrawal fee for STEEM
Steem withdrawal fee is 0.01 steem illustrated above from the screenshot.
Withdrawal fee for USDT
USDT withdrawal fee is 0.00 USDT illustrated above from the screenshot.
How cost-effective is TRC20 USDT as compared to ERC20 USDT?
Comparison with screenshot records of TRC20 USDT and ERC20 USDT below.
For TRC20 USDT from from Poloniex
For ERC20 USDT from from Poloniex
TRC20= 0.00000000 USDT
ERC20= 52.97478806 USDT
comparing the fee difference TRC20 is more cost-effective to ERC20.
Make a comparison of TRC20 USDT withdrawal fees with other major exchanges?
Illustration will be done using the BINANCE and the HUOBI EXCHANGE for the comparison. Here is a screenshot from both exchanges a withdrawal of 40 USDT of TRC20.
From the BINANCE EXCHANGE
From the HUOBI EXCHANGE
when you compare the fee charged on both exchanges, equal fee of 1USDT is charged.
Thank you. @qudus0