What is the difference between USDC and USDT?
I am thinking of using $USDC instead of USDT
To understand why I think so, read this article 👇🏼
The difference between USDT (Tether) and USDC (USD Coin) lies in the organization that manages each of them, the method of issuance, oversight, and the level of transparency, although they are two digital stablecoins (Stablecoin). pegged to the US dollar at a 1:1 ratio.
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1. USDT (Tether): 💲
Version: Issued by Tether Limited.
Transparency: Tether has been criticized for its lack of transparency, as questions have arisen about whether it has enough reserves to back each unit of USDT.
Popular Uses: It is one of the most widely used stablecoins on trading platforms due to its high liquidity and broad support.
Audit: Tether has been criticized for not regularly auditing its reserves.
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2. USDC (dollar coin):💲
Issue: It is issued by Circle in collaboration with Coinbase and managed under the Center consortium.
Transparency: Verified auditing firms conduct monthly audits to ensure that each USDC is fully backed by cash reserves and short-term assets.
