Quick Comparison: USDT vs USDC
| Feature | USDT | USDC |
|---|---|---|
| Issuer | Tether | Circle |
| Launched | 2014 | 2018 |
| Market Cap | $140B+ | $45B+ |
| Backing | Mixed assets | Cash + Treasuries |
| Transparency | Lower | Higher |
What is USDT?
USDT (Tether) is the largest stablecoin and the backbone of crypto trading. Almost every exchange pair uses USDT. It's been "audited" but never fully verified — Tether claims 1:1 backing but won't do a Big 4 audit.
Despite the controversy, USDT has never failed to redeem. In 10 years and countless FUD cycles, it maintains its peg. Many traders trust it simply because it's worked so far.
What is USDC?
USDC (Circle) is the "regulated" stablecoin. Circle is a US company, publishes monthly attestations from top accountants, and holds reserves in cash and short-dated Treasuries. It briefly depegged during the SVB crisis but recovered.
For institutional use and US-based projects, USDC is preferred. Lower supply but arguably lower risk. The tradeoff is less liquidity than USDT.
Key Differences
- Transparency: USDC publishes attestations, USDT does not
- Size: USDT is 3x larger by market cap
- Regulation: Circle is US-regulated, Tether is offshore
- Liquidity: USDT has more trading pairs and depth
- Backing: USDC is cash/Treasuries, USDT is mixed assets
- History: Both have maintained peg through major crises
Which Should You Choose?
Choose USDT if: You need maximum liquidity, trade on non-US exchanges, or don't worry about the transparency concerns. It's the de facto standard.
Choose USDC if: You want regulatory clarity, transparent reserves, or work with US-based institutions. Slightly less liquidity but arguably safer.
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