USDT is a centralized token and it can be frozen inside your non custodial wallet, which mean it's not 100% safe even though you've use non custodial wallet, you can't stop or prevent the creator to freeze your token.
USDT is mainly run in ETH network, it's better if you use trezor or ledger if you want to be more secure rather than use non custodial wallet but the device is unsecure and has a lot applications that will compromise your device.
Also does anyone know if chaintip is a legit site since apparently a random user called erogand tipped 10USD it seems and a message came via Reddit saying to claim it give a BCH address, is it legit?
Did you mean this one?
https://www.reddit.com/r/NoStupidQuestions/comments/ziyylu/a_random_tip/Based on the picture of that's thread, I don't see anything suspicious since he's only ask for BCH address, it would be different if they ask you to submit private key, seed phrase or ask for additional fee to unlock the reward. There's no way you can get hacked if you only share your BCH address.
You were right chaintip is legit and that person actually had sent BCH used a Binance wallet address to collect and converted to USDT just to be sure and it is 100% legit.
Also good advice on USDT will consider USDC
Here is a list of searches I did and their answers;
is usdc and ustc the same?
No, they are not the same. USDC is a stablecoin backed by the US dollar, while USTC is a stablecoin backed by the Chinese yuan.
does Binance support USDC?
Yes, Binance supports the USDC stablecoin.
can I convert BCH to USDC inside Binance?
Yes, you can convert BCH to USDC inside Binance.
Is USDT non custodial?
No, USDT is not non-custodial. It is a custodial stablecoin, meaning that the user's funds are held by a third party.
Is USDC non custodial?
Yes, USDC is a non-custodial stablecoin, meaning that the user's funds are not held by a third party.
what is safer USDC or USDT?
USDC is generally considered to be safer than USDT because it is a non-custodial stablecoin, meaning that the user's funds are not held by a third party.
can anyone freeze USDC?
No, USDC is a decentralized stablecoin, meaning that no one can freeze the funds.
can any government takedown USDC?
No, USDC is a decentralized stablecoin, meaning that no government can take it down.
can any government takedown USDT?
Yes, USDT is a custodial stablecoin, meaning that a government could take it down if they wanted to.
who owns rights to USDC?
The rights to USDC are owned by CENTRE, a consortium of Circle and Coinbase.
is CENTRE a registered company?
Yes, CENTRE is a registered company in the state of Delaware.
so if CENTRE gets indiction to take down USDC can it be done?
No, USDC is a decentralized stablecoin, meaning that CENTRE cannot take it down.
Why not? If they have the rights to it?
Because USDC is a decentralized stablecoin, meaning that no one entity has control over it. It is managed by a distributed network of computers, so no single entity can take it down.
Ok but then how can CENTRE own rights to it if so?
CENTRE owns the rights to the USDC protocol, which is the technology used to power the USDC stablecoin. They do not own the USDC tokens themselves, which are owned by the individuals who hold them.
can you takedown the technology used to power USDC and the USDC will be a goner?
No, even if the technology used to power USDC is taken down, the USDC tokens will still be in circulation and can still be used as a form of payment.
would Binance have a reason to delist USDC?
Binance may delist USDC if they believe that it is no longer a viable asset or if it violates any of their policies.
In this case what would happen to our the USDC tokens kept at Binance?
If Binance delists USDC, users can still withdraw their USDC tokens from Binance and store them in a secure wallet.
Do they give a time limit to do so or any time can?
If Binance delists USDC, they will usually give users a certain amount of time to withdraw their tokens before the delisting is effective.
what happens if we missed that time given?
If you miss the time given to withdraw your USDC tokens, your tokens may be lost.
How can it be recovered?
It may not be possible to recover your USDC tokens if you miss the time given to withdraw them.
Why not?
This is because, once they are delisted, they may no longer be accessible to you.
But it is to Binance right?
Yes, the USDC tokens are still stored on Binance, but if they are delisted, you may no longer be able to access them.
But Binance can?
Yes, Binance may still be able to access the USDC tokens, but they will not be accessible to you.
Maybe they can transfer it for us?
No, Binance will not transfer your USDC tokens for you. You must withdraw them yourself before the delisting is effective.
How likely is it for USDC to get delisted?
It is unlikely that USDC will be delisted, as it is a popular stablecoin and is widely used by many exchanges and users.