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A COIN PEGGED TO US DOLLAR

 A COIN PEGGED TO US DOLLAR


Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed "100% by Tether's reserves," according its website. 1 Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex.


Tether (USDT) is a cryptocurrency that is designed to be pegged to the value of a particular fiat currency, such as the US dollar. The goal of Tether is to provide a stable, digital equivalent of traditional fiat currencies that can be used to store, transfer, and trade value on blockchain platforms.

USDC (USD Coin) is also a cryptocurrency that is pegged to the US dollar, but it is issued by a consortium of companies led by Circle and Coinbase. USDC is intended to be a transparent, fully-reserved stablecoin that is backed by actual US dollars held in a bank account.

Both Tether and USDC can be used as a store of value and a medium of exchange on cryptocurrency platforms. However, there have been questions raised about the transparency and solvency of Tether, which has led to some controversy in the cryptocurrency community. USDC, on the other hand, has been designed to be more transparent and has been widely adopted by cryptocurrency exchanges and other platforms.

ADVANTAGES

Advantages of Tether (USDT):
  • Stable value: Tether is designed to be pegged to the value of a particular fiat currency, which means that it is intended to have a stable value.
  • Widely accepted: Tether is widely accepted on cryptocurrency exchanges and other platforms, which makes it easy to use and trade.
  • Low transaction fees: Tether transactions typically have low fees, which makes it an attractive option for users who want to minimize costs.

DISADVANTAGES

Disadvantages of Tether (USDT):
  • Transparency concerns: There have been questions raised about the transparency and solvency of Tether, which has led to some controversy in the cryptocurrency community.
  • Risk of loss: While Tether is intended to have a stable value, there is the risk of loss if the value of the Tether falls relative to the fiat currency it is pegged to.

COINS TIED TO TETHER

Tether tokens exist as digital tokens built on various blockchains including Ethereum, Bitcoin Cash's Standard Ledger Protocol, Algorand, Avalanche,  EOS, Liquid Network, Near, Omni, Polygon, Solana,  Statemine, Statemint, and Tron.


WHICH IS BETTER USD COIN OR TETHER?

The higher daily transaction count versus USDC suggests that Tether is more likely used for retail trading and transfers such as remittances. On the other hand, USDC appears like a top stablecoin choice for tech-savvy institutional traders that lock their funds in staking contracts to earn yield.
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