How do USDT and USDC differ from each other in the realm of digital currencies?

3 answers

• Dec 17, 2021 · 3 years ago
  USDT and USDC are both stablecoins, but they have different underlying mechanisms. USDT is issued by Tether, and it operates on various blockchains, including Bitcoin, Ethereum, and Tron. On the other hand, USDC is issued by Circle and is built on the Ethereum blockchain. This difference in underlying infrastructure gives them distinct characteristics and potential use cases.
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• Dec 17, 2021 · 3 years ago
  When it comes to transparency, USDC has an advantage. Circle provides regular attestation reports, which are conducted by a top accounting firm, to prove that the amount of USDC in circulation is fully backed by USD reserves. Tether, on the other hand, has faced scrutiny regarding its reserves and transparency. This transparency factor can be an important consideration for users.
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• Dec 17, 2021 · 3 years ago
  From the perspective of BYDFi, a digital currency exchange, both USDT and USDC are widely accepted and traded. However, USDT has been more popular due to its early entry into the market and wider adoption. USDC, being built on Ethereum, has gained traction among users who prefer the Ethereum ecosystem. Ultimately, the choice between USDT and USDC depends on individual preferences and the specific use case.
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