Crypto-to-Crypto Conversions
Crypto conversions let you exchange one cryptocurrency for another without touching fiat (e.g., USDC on Ethereum → USDT on Tron). Type:conversion
Conversion transactions are for converting between different assets or networks within your own Conduit account custody, not for sending crypto to external wallets or other parties.
Crypto conversions cover asset or network changes (e.g., USDC→USDT or Ethereum→Tron). To send crypto on-chain to an external wallet, use a withdrawal.
When to use
- Optimize transaction costs by moving to lower-fee networks
- Match recipient preferences for a specific stablecoin or network
- Rebalance treasury across assets or networks
- Prepare funds for international payments on specific networks
Key fields
- Source account ID format:
acct_... - Source asset and network e.g., USDC on Ethereum
- Amount to convert
- Destination account ID format:
acct_... - Destination asset and network e.g., USDT on Tron
- Quote — locks the conversion rate until expiration
Key terms
| Term | Definition |
|---|---|
| Conversion transaction | Direct crypto-to-crypto exchange on Conduit platform |
| Source asset | The cryptocurrency you’re converting from (e.g., USDC on Ethereum) |
| Destination asset | The cryptocurrency you’re converting to (e.g., USDT on Tron) |
| Network/chain | The blockchain network (Ethereum, Tron, Solana, Polygon, etc.) |
| Quote | Locked-in conversion rate with expiration time |
How crypto conversions work
Here’s the complete workflow for converting cryptocurrencies: Timeline: typically completes within minutesUnderstanding stablecoins and networks
Common stablecoins
USDC (USD Coin)- Issued by Circle
- 1:1 backed by US dollars
- Monthly third-party audits by Grant Thornton
- Available on: Ethereum (ERC-20), Tron (TRC-20), Solana (SPL), Polygon
- Issued by Tether
- Most widely adopted stablecoin globally
- 1:1 backed by US dollar reserves
- Available on: Ethereum (ERC-20), Tron (TRC-20), Solana (SPL)
Blockchain networks and transaction costs
| Network | Token Standard | Typical Fee | Settlement Time | Best For |
|---|---|---|---|---|
| Ethereum | ERC-20 | 50+ | 1-5 minutes | Large transactions, maximum security |
| Tron | TRC-20 | < $1 | 1-3 minutes | Frequent payments, cost efficiency |
| Solana | SPL | < $0.01 | Seconds | High-frequency, ultra-low cost |
| Polygon | ERC-20 | < $0.10 | 1-2 minutes | Ethereum compatibility, low fees |