💰DO YOU KNOW $USDT vs.
$USDC vs. $BUSD
What Are The Key Differences?☑️
The commonly used stablecoins are not restricted to a single chain or network. Although BUSD is limited to the Ethereum and BNB chains, USDT and USDC cover multiple networks. USDT covers networks like Ethereum, Solana, Avalanche, Polygon, EOS, Tron, Tezos, Kusama, and IOS liquid. Meanwhile, USDC covers networks like Ethereum, Solana, Avalanche, Polygon, Tron, Stellar, Flow, and Hedera.
Even though the three stablecoins were created to back the USD with a stable crypto value, they all share different issuers and were created in separate years. The Tether company launched USDT first among the top three tokens in 2014. After, Circle launched USDC in 2018, and in 2019, Binance and Paxos collectively launched the BUSD.
USDT vs. USDC vs. BUSD: ☑️What Are The Key Similarities?
Despite the fact that the three biggest stablecoins are from different companies, they have some fundamental similarities. Firstly, all three stablecoins are fiat-backed and pegged to the US dollar with a 1:1 cash equivalent.
💰They are all stable and less prone to market volatility, unlike Bitcoin, Ethereum, and other crypto assets. Also, all three stablecoins frequently update their audit reports to show proof of transparency in their reserves, despite several allegations they’ve received in the past. Additionally, all three assets operate on the Ethereum network, while USDT and USDT are multichain💰
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