However, USDC is backed by reputable companies . Add to that Grant Thornton’s monthly audits. These factors confer a lot of credibility on USDC and make it more reliable than other fiat-backed stablecoins like Tether. There is also an interest rate risk that accompanies USDT deposits.
Read moreIs Tether or USDC safer?
While USDT is used more frequently for trading and payments, USDC is often described as a safer stablecoin since Centre makes a greater effort to comply with audits and governmental regulation, and has more transparent, fully-backed reserves.
Read moreIs USD coin the same as Tether?
Same as Tether , USD Coin is backed by the US dollar, so every coin is worth $1 and redeemable with cash.
Read moreIs Tether a safe coin?
Tether (USDT) is the most valuable stabelcoin in the world, sporting a market capitalization of $69 billion, more than double the value of USD Coin (USDC), the next largest coin. In order to assure buyers that it is trustworthy , Tether claimed it had cash reserves equal in value to the stablecoins it issued.
Read moreIs Tether USD a good investment?
While Tether is not necessarily a long-term investment that will grow your money by itself because it stays pegged to the U.S. dollar , there are lending platforms, exchanges and wallets that will pay you high interest rates to store USDT on their platform.
Read moreHow much is Tether coin worth?
Tether Price RankCurrencyPrice2Ethereum$2,968.753Tether$1.004BNB$404.915USD Coin$1.00Tether Price Chart Today – Live USDT/USD goldprice.org › cryptocurrency-price › tether-price
Read moreCan you make money from Tether?
Most will pay anywhere from 6% to 12% in interest just for storing Tether on their platform. Tether will typically earn more interest than other popular stablecoins like GUSD, USDC and DAI because of its high demand in trading and cryptocurrency loans.
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