I'm thinking of using $USDC instead of USDT
To understand why I think this, follow this article 👇🏼
The difference between USDT (Tether) and USDC (USD Coin) revolves around who runs each, the method of issuance, oversight, and level of transparency, although they share the fact that they are both stablecoins pegged to the US dollar at a ratio of 1:1.
🪙💲🪙💲🪙💲🪙💲🪙
1. USDT (Tether): 💲
Issue: Issued by Tether Limited.
Transparency: Tether has been criticized for its transparency, with questions about whether it has enough reserves to back each unit of USDT.
Common Use: It is one of the most widely used stablecoins on trading platforms, due to its high liquidity and wide support.
Audit: Tether has been criticized for a lack of regular audits of its reserves.
🪙💲🪙💲🪙💲🪙💲🪙
2. USDC (USD Coin):💲
Issue: Issued by Circle in collaboration with Coinbase and managed under the Centre Consortium.
Transparency: It is considered more transparent than USDT, as monthly audits are conducted by reliable auditing firms to ensure that each USDC is fully backed by cash reserves and short-term assets.
Common Use: It is a preferred choice for businesses and corporations due to its high level of compliance and transparency.
Audit: Reserve reports are issued regularly and are audited by reputable auditing firms.
Conclusion:
If you are looking for liquidity and trading speed on exchanges, USDT is a popular choice.
If you care about transparency and legal compliance, USDC is the safest option.
Both currencies have a strong position in the cryptocurrency market and can be used based on your needs and priorities.
🚨 DYOR NOTICE 🚨
This is not an investment recommendation.
"If you care about cryptocurrency news, follow us and enable notifications to stay updated! 📈🔔"
Thank you for your support 🫶🏼 A.F 🤝
