What is the difference between usdt and usdc

USDT and USDC are two major stablecoins. Although anchored to the US dollar, there are the following differences: Issuer: USDT is issued by Tether Limited, and USDC is issued by Circle and Coinbase in cooperation. Collateral: USDT collateral consists of U.S. dollar reserves and commercial paper, while USDC is fully collateralized in U.S. dollar cash and U.S. Treasuries. Regulation: USDT is unregulated, while USDC is regulated by the New York Department of Financial Services. Audit: USDT audit reports are limited and of questionable quality, while USDC is regularly audited by reputable accounting firms. Transparency: USDT reserves are less transparent, while USDC releases proof of reserves monthly. 6.

The difference between USDT and USDC

USDT and USDC are the two most popular stablecoins, which are anchored to the value of the US dollar. However, despite the similarities, there are some key differences between them.

1. Issuer

• USDT: Issued by Tether Limited.
• USDC: Issued in partnership with Circle and Coinbase.

2. Collateral

• USDT: Originally claimed to be collateralized 1:1 by US dollar reserves, but was later discovered to also contain other assets such as commercial paper.
• USDC: Collateralized 1:1 by US dollar cash and US Treasury bonds.

3. Supervision

• USDT: is not supervised by any regulatory agency.
• USDC: Regulated by the New York Department of Financial Services (NYDFS).

4. Audit

• USDT: The audit report is limited and the quality of the audit is questioned.
• USDC: Regularly undergoes audits by reputable accounting firms.

5. Transparency

• USDT: Low transparency on reserves, and has been revealed to have inventory errors.
• USDC: Higher transparency on reserves and trading activities, with reserve certificates released monthly.

6. Fees

• USDT: Generally lower transaction fees than USDC.
• USDC: Transaction fees vary by platform and transaction type.

7. Stability

• USDT: There have been unanchored situations in history, resulting in price fluctuations.
• USDC: Since its launch, it has remained highly stable and rarely de-anchored.

Summary

USDT and USDC are both popular stablecoins, but there are some key differences between them. USDT is less regulated and transparent, while USDC is regulated and offers greater transparency. Additionally, USDC’s collateral composition and audit quality are generally considered more reliable. Ultimately, which stablecoin to choose depends on one’s risk tolerance and preference for security and transparency.

As of noon on July 9, 2024, Tether (USDT) is worth $0.99999072931737, with a 24-hour trading volume of $68511763460.383. USDT price fell slightly by 0.05588812% compared to the previous day.

USDT’s circulating supply is 112207150564.86, the maximum supply is disputed, but the total supply is the same as the circulating supply. This means that all USDT currently in circulation has been minted.

USDT has a market capitalization of approximately $112206110327.98. USDT is generally considered a stable cryptocurrency due to its peg to the U.S. dollar, making it a popular choice for trading and other cryptocurrency activities.

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