💰Understand the difference between "USDC" and "USDT" in one sentence👀
Both USDC and USDT are stablecoins, which are equal to the value of the US dollar, but they are different. To make a simple analogy:
🎃USDC is like a "💰stored value card💰" from a big bank with super strict audit.
🎃And USDT is like an old-fashioned stored value card company, which is large in scale but not so transparent in audit.
Specifically:
🌸USDC is backed by Circle and Coinbase, and is subject to US laws and audits. It publishes audit reports every month, and its transparency is very good, just like you choose a government-regulated card, and you feel at ease.
🌸USDT is issued by Tether, and its transparency is poor. Some people used to doubt whether its reserves were sufficient, but because it was issued early, the circulation is large, and many people use it in the market, it is like a stored value card that everyone uses, but the details may not be clear.
Both stablecoins are 1 USD for 1, but USDC is more transparent and compliant, while USDT is more convenient to circulate.
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