We will be switching our Tether (USDT) tokens from Omni-based addresses to ERC-20 based addresses on LocalCoinSwap. This will be the default setting for Tether (USDT) moving forward. This change will occur on Monday, July 29, 2019.
Why are we making this change?
Using the ERC-20 based version of Tether (USDT) will provide a much smoother, faster and cheaper withdrawal and deposit process for our users. This decision follows in conjunction with other popular platforms that have also announced support for ERC-20 based USDT tokens. Additionally, there are many more tools for ERC20 USDT (wallets, blockchain explorers, etc.). We will continue to review and make updates to the platform that will benefit our users.
How does this affect me?
If you hold USDT tokens on the LocalCoinSwap platform, there is nothing you need to do. Your Omni USDT will automatically be converted to ERC20 USDT on the platform. After this update, users will no longer be able to withdraw OMNI-based USDT.
If you have any questions, please open a support ticket to speak directly with our LocalCoinSwap customer service team.
The LocalCoinSwap Team