What is a USDT wallet?
A USDT wallet is the tool you use to hold, send and receive Tether (USDT). It does not store USDT like cash in a physical wallet. Your balance stays recorded on a blockchain, while the wallet manages the private keys that let you control it.
| Your USDT wallet handles | What that means |
|---|---|
| Private keys | These authorize transactions and prove control of your funds. |
| Receiving addresses | The addresses you share when someone wants to send you USDT. |
| Networks | USDT exists on several blockchains, so you need to choose the right one when sending or receiving. |
| Network fees | Fees are paid using the native coin of the network, such as ETH on Ethereum or BNB on BNB Smart Chain. |
| Self-custody | With a self-custody wallet, you control the keys instead of an exchange holding them for you. |
The important difference between USDT and a coin like Bitcoin is that there is no single USDT network. In the Bitcoin.com Wallet, USDT is supported on Ethereum, BNB Smart Chain, Polygon and Avalanche. The USDT may represent the same asset, but the networks underneath it are different.
That means receiving USDT involves checking two things, not one: Address + network
If someone is sending USDT over Ethereum, for example, you need to give them the Ethereum version of your USDT receiving address. The network selected by the sender needs to match the one you expect. With a self-custody wallet, the keys controlling that USDT stay with you rather than with an exchange. An exchange gives you an account balance; a self-custody wallet gives you direct control of the assets associated with your keys.