11, Nov
Tether (USDT) or USD Coin (USDC)?
Tether (USDT) and USD Coin (USDC) are both stablecoins whose value is pegged to the US dollar. There are various distinctions between the two that may make one more appealing to specific users than the other.
1. Backing
USDT and USDC both claim to be backed 1:1 by US dollars kept in reserve. Circle, a regulated financial services corporation, issues USDC, and its reserve holdings are audited regularly by a third-party accounting firm. Tether, on the contrary, has been the subject of significant debate over the credibility of its reserve holdings.
2. Transparency
The USDC is more transparent than the USDT. Circle publishes on USDC's reserve holdings and transaction activity on a regular basis, and its issuer, Circle, is a regulated financial services corporation in the United States. Tether, on the other hand, has been chastised for its lack of transparency and has been accused of manipulating the market.
3. Platform
USDT is more extensively utilized by traders and investors since it is offered on a broader selection of crypto exchanges. However, USDC is only available on a limited number of exchanges, despite the fact that it is frequently utilized in the crypto market.
USDT and USDC are both stablecoins that are meant to give a stable value similar to the US dollar. The decision between the two will be determined by your priorities and preferences.
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