The USDT digital dollar, especially on the TRON (TRC20) network, has become a solution for many looking to protect their savings or carry out international transactions more efficiently.
If you've been wondering how to take the first step and recharge your wallet with these assets, this guide is for you. We will explain, in a clear and simple way, everything you need to know to operate safely from Bolivia.
How can I buy USDT from Bolivia?
The most common and secure way to buy USDT is through cryptocurrency exchange platforms with P2P functionality such as El Dorado, which allows users to buy USDT directly from other users using Bolivians.
Steps to recharge your USDT wallet with Bolivianos (BOB)
P2P trading is the most popular way to buy USDT in Bolivia, as it allows you to exchange Bolivianos (BOB) directly with other users. Platforms such as El Dorado P2P have optimized this process. Here are the general steps you should follow:
- Download and sign up: The first step is to download the application of the platform of your choice (for example, El Dorado P2P, available for iOS and Android) and create your account using your email.
- Verification: To operate securely and access all functions, complete the identity verification by uploading your document.
- Select the seller: In the “Change” section, look for ads to buy USDT. Set the payment currency to “BOB” and choose the method you prefer, such as bank transfer or QR code. Select a seller who is online and has a good transaction history.
- Make the payment: The platform will give you the seller's payment details. From your banking application, transfer the amount in Bolivianos and then, in the platform application, mark the transaction as “Payment made”.
- Receive the USDT: Once the seller verifies that they received your payment, the system will release the USDT, which will be automatically deposited in your wallet on the platform. This process may take only a few minutes.
Requirements to buy USDT safely
For your experience to be secure, most trustworthy P2P (person-to-person) platforms will ask you to complete an identity verification (KYC). This process is a security standard that helps prevent fraud and illegal activities.
A fundamental aspect in the security of P2P platforms is the custody system or Escrow. This mechanism works as a trusted intermediary that holds the seller's funds until you, as the buyer, confirm that you have received the money in your bank account.
If there are any problems, the system holds the seller's funds until the situation is resolved, protecting your assets.
What is USDT on the TRON (TRC20) network?
USDT, or Tether, is a stable cryptocurrency, known as Stablecoin, which maintains its value pegged to that of the US dollar at a parity of 1:1.
This quality makes it particularly useful in economies that face currency shortages or instability, allowing you to protect the value of your money in a strong currency. Its value is backed by a reserve of real assets that gives it stability.
The TRC20 standard is the technical protocol that allows USDT to work on the TRON network. This network, which is a decentralized operating system, was created with the objective of being faster and having lower fees than other blockchains such as Ethereum. Thanks to its efficiency, TRON is now the dominant network for USDT, housing more than 50% of its circulating supply.
Advantages of using TRC20 for your transactions in Bolivia
- The drastic reduction in fees compared to other networks: While the fees on the Ethereum (ERC20) network can be very high, those on TRON are considerably lower, making small and frequent transactions economically viable.
- Transaction speed is a key factor: The TRON network can process thousands of transactions per second (TPS), which results in almost instant transfers of your money, no matter where the recipient is. This combination of speed and low cost makes TRON ideal for everyday trading and international payments.
Which wallet supports TRC20 USDT?
To receive your USDT, you need a digital wallet. There are two main types: hot wallets (Hot Wallets) and cold wallets (Cold Wallets).
The former are applications connected to the internet, ideal for everyday use, while the latter are physical devices that store your assets offline, offering maximum security for large quantities.
Among the wallets that support the TRC20 standard, some of the most recommended are:
- TronLink: It's the native wallet of the TRON network, meaning it's fully optimized for TRC20 tokens like USDT.
- Trust Wallet: A very popular and versatile option that allows you to manage assets from multiple networks, including TRON, with a very easy-to-use interface.
- Ledger Nano: Considered one of the gold standards in security, it's a hardware wallet that stores your private keys offline, protecting your funds from cyberattacks.
How to create and configure your wallet to receive USDT
The process of creating your own wallet is a crucial step in taking control of your funds. Follow these steps to create a self-custody wallet like TronLink:
- Download the app: Choose a reliable wallet and download the official app or browser extension.
- Create a new wallet: The application will guide you to create a new wallet, including creating a secure password.
- Save your recovery phrase: This is the most important step. The wallet will generate a recovery phrase (also known as a “seed” or Mnemonic phrase). This is the only way to recover your funds if you lose access to your device.
- You should write this phrase down on paper and keep it in a safe, offline place. Never share it or store it on a device connected to the internet.
It's important to know that some P2P platforms, such as El Dorado, also work as virtual wallets. When making a purchase, USDT is deposited directly into the app's wallet, from where you can manage your funds and send them to the personal wallet of your choice.
El Dorado even offers a “Safe” feature, which is a self-custody wallet where you have full control of your keys, making it a safe and easy to use option for beginners.
Once configured, your USDT wallet address on the TRON network will always start with the letter “T”.
How can I recharge USDT in my wallet?
To recharge your USDT wallet, the most common method is through a cryptocurrency transfer. Then follow the step by step through the platform to make the transaction.
Once the transaction is processed on the blockchain network, the funds will be credited to your wallet.
Available methods for recharging USDT (TRC20) balance
The most direct method to recharge your personal wallet is through an asset transfer. Once you've purchased USDT on a P2P platform or exchange, you must send them to your personal wallet address.
The key step in this process is selecting the right network. When you start the transfer, the platform will ask you which network you want to use. It is vital that you select the TRON network (TRC20). If you send USDT to a TRC20 address, but choose another network, such as ERC20, your funds will be lost forever, since blockchain transactions cannot be reversed.
Tips to avoid high fees or losses
To optimize your costs on the TRON network, it's useful to understand its rate model. Instead of “gas”, USDT transactions consume two resources: Bandwidth and Energy.
To avoid paying fees on each transaction, you can “freeze” TRX, which is the network's native token. By freezing TRX, you get Bandwidth and Energy, which regenerate daily and allow you to make USDT transfers at no cost.
If you plan to make frequent transactions, this is a very profitable strategy. It is also advisable to avoid times of greatest network congestion, as costs may increase during these periods.
Legality of cryptocurrencies in Bolivia
Current situation and regulations on USDT
The legal landscape in Bolivia regarding USDT changed on June 25, 2024, when the Central Bank of Bolivia (BCB) rescinded the cryptocurrency ban that had been in place since 2020.
This resolution not only recognizes virtual assets as “valid financial tools”, but it also lays the groundwork for future regulation, allowing citizens more formal access to this market.
It is important to know that, although they are now allowed, cryptocurrencies are not considered legal tender in the country. This means that the risks inherent in its use are borne exclusively by you as a user.
Risks and legal considerations before trading
Despite this openness, it's essential that you operate with caution. Blockchain transactions are irreversible. If you make a mistake sending funds, there's no central authority that can help you recover them. This is why double verifying addresses is an essential practice.
To combat illegal activities carried out through its platform, the TRON network has created the Financial Crimes Unit T3 (T3 FCU) in collaboration with Tether and TRM Labs, with the objective of combating crime on the network. This demonstrates an effort on the part of the ecosystem to improve security, but diligence remains your responsibility.
Top up your USDT wallet quickly and easily with El Dorado P2P
Benefits of using El Dorado P2P in Bolivia
- Ease of use: Its interface is intuitive and designed so that you can buy or sell USDT in a simple way, guiding you through every step of the process.
- Security and Support: The platform offers a custody system (Escrow) that protects your funds during the transaction and has a support team available 24/7 to assist you in case of any questions or problems.
- Access to digital dollars: In a context of scarce dollars, the application provides you with a secure way to access a form of hard currency, making it easier both to protect your capital and to send and receive remittances.
How to download and register in El Dorado P2P
- Download the app: Find the app in the Play Store (for Android) or in the App Store (for iOS) and download it to your device.
- Create your account: Open the application and select the option to register. Fill out the form with your username, email, and a secure password.
- Verify your identity: Complete the basic identity verification process by uploading your document. This will give you full access to all of the platform's features.
Recharging your USDT wallet on the TRON (TRC20) network from Bolivia is a viable process full of opportunities. Legal openness by the BCB has created a more favorable environment, and the technical efficiency of the TRON network makes it a smart option for daily transactions.
However, your safety is the priority. Remember that you are solely responsible for your assets. When trading, always verify shipping addresses, protect your recovery phrase and use reliable platforms with proven security mechanisms.
By following these steps, you can take advantage of digital dollars to manage your finances more freely and efficiently in this new economic era in Bolivia.
