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I have some USDT in an exchange and I want to deposit it to another, I have 2 options of depositing to either an ERC20 or TRC20 addresses, does it matter to which I send it to? Will I lose my funds if I send it to the incorrect address?

Just me
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Those addresses belong to other, non-Bitcoin blockchains. ERC20 is the Ethereum blockchain, and TRC20 is the Tron blockchain.

Will I lose my funds if I send it to the incorrect address?

It is possible to lose your funds like this, so be very careful with the address - you must create an address for the particular blockchain where you wish to receive your USDT, and have a wallet that can receive and send assets on that blockchain.

Note that originally, USDT existed as a token on Omni Layer which is a protocol that uses the Bitcoin blockchain to record special transactions:

Omni is a platform for creating and trading custom digital assets and currencies. It is a software layer built on top of the most popular, most audited, most secure blockchain -- Bitcoin. Omni transactions are Bitcoin transactions that enable next-generation features on the Bitcoin Blockchain. Our reference implementation, Omni Core is an enhanced Bitcoin Core that provides all the features of Bitcoin as well as advanced Omni Layer features.

However, most exchanges don't support USDT-Omni, and I'm not sure if even the issuer (Tether) anymore mints/redeems USDT-Omni for USD. So, if you're using USDT it is most likely NOT on the Bitcoin blockchain.

bca-0353f40e
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  • Thanks for the quick reply. All I know is that I have tether in my account, and I can generate 2 addresses as a deposit for tether on the other exchange, I just don't know how my tether were "minted" and which blockchain they are on, do I need to know that before I input an address, or would both work? – Just me Nov 03 '22 at 14:17
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    Your exchange "balance" is really an IOU (I-owe-you) from the exchange, it doesn't matter how the USDT you had deposited or traded for was originally minted since it should all be redeemable for USD with the issuer (Tether). Anyway, just pick one of the 2 blockchains, find a reliable wallet, generate the address, and then withdraw. Ethereum (ERC20) has its own SE site where you could ask for help with the wallet: https://ethereum.stackexchange.com/ – bca-0353f40e Nov 03 '22 at 14:22
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    Thanks for the clear answer. – Just me Nov 03 '22 at 14:26