USDT or USDC or any other alternative?

[|MINER|]

Many of us know that USDT has opacity and for this, already renowned financial rating agencies have identified it as risky, one of which is S&P (Standard & Poor).
Now my point is that many of us hold stable currencies, whether for investment or as our own backup, what should we do in this case? In my view, USDT and USDC are among the top stable currencies, which one is more secure, USDC or USDT or any others options? I am seeking logical advice.

[Somegory]

There is nothing like secured around this stable coins because they are centralised, usdt has withstand the test of time and they don't fail, most of the time it is the one that gets the highest FUD among other stable coins.

I believe I will go for USDT if I don't have problem with the ability bro lock users fund at any time and also the fact that they are centralised.

If you want privacy DAI have always been the best stable coin but it is a shame that it's not as popular and well used as USDT, with 58m volume and 4B marketcap, this is too low for what this stable coin has to offer, but it seems the argument will always stays the same, many people don't care about privacy coins anyway.

[JeromeTash]

You can't talk about security and then mention centralized stablecoins in the same sentence. If you want "security", then you are going to opt for decentralized stablecoins like DAI or a bunch of other less known decentralized stablecoins, but the problem is some of them end up being de-pegged in extreme mark conditions. I hope you remember the UST saga

The other alternative is just use BTC as your base currency like the old times before even USDT came into the picture.

[EarnOnVictor]

Now my point is that many of us hold stable currencies, whether for investment or as our own backup, what should we do in this case? In my view, USDT and USDC are among the top stable currencies, which one is more secure, USDC or USDT or any others options? I am seeking logical advice.

The USDT has had enough trouble of its own for years. However, being a stablecoin linked to the crypto world, I believe it will not be affected, as it has held the number 1 spot for so long. As for USDC, it has passed virtually all government clearances and regional acceptance, so it's technically safer. What I do is hold my assets in two of them in case of unforeseen circumstances, and I do it 50:50 now.

What I won't do is hold my crypto assets in other stablecoins. I view them as riskier than the two (USDT & USDC).

[malekbaba]

USDT is issued by Tether. Based offshore and Is not fully transparent.
USDC is issued by Circle and Circle is a US-regulated financial company and who doesn't know about the restrictions a US based financial company has to go through. USDC provides audit reports on regular basis and shows what backs every token.Though USDT is widely used, those who care more about banking , compliance and regulations, usually use USDC. USDT fluctuates more and more often it slips below the Peg. So IMO USDC is safer with better compliance .
By the way DAI is another alternative and it is decentralised

[asriloni]

USDC is obviously much more secure as it's licensed by MICA and comply with US regulation. So it's much more secure instead of using USDT when you prefer to hold stable token.

However. i know some may concern about the security, then you can go to DAI or USDS as an alternative choice cuz it has not frozen function like USDT or USDC.

I'm currently owning majority of my assets in form of USDC and USDS. So far so good. I never encounter any problem with it.

[Frankolala]

Both USDT and USDC are safe but for people living in Europe, USDT is not for them because Europe have banned USDT. I will prefer USDC for that reason so that whenever, I found myself, I can have access to trade USDC to their local fiat since it's accepted in most regions than USDT. However, I don't hold too much of stable coins, I only convert it when trading. I prefer saving in USD because stablecoins are pegged to USD.

[FirmWars]

One is not supposed to hold usdt and usdc as investment except the person is just keeping it as back up funds and because they are also in holding a stable currency but if it's actually a real investment, then why not they go for Bitcoin which is more rewarding, for someone holding usdt as investment they won't even make so much out of it compare to someone holding Bitcoin, but it also depends on what the person wants. Usdt and usdc are the mostly used, an alternative can be busd but holding a huge amount on those centralized fiat is not really very secure too.

[Tigerheart3026]

Both USDT and USDC are safe but for people living in Europe, USDT is not for them because Europe have banned USDT. I will prefer USDC for that reason so that whenever, I found myself, I can have access to trade USDC to their local fiat since it's accepted in most regions than USDT. However, I don't hold too much of stable coins, I only convert it when trading. I prefer saving in USD because stablecoins are pegged to USD.

how safe is USDT? this is not regulated company, if i am not mistake. USDC is regulated in europe, so it’s more trustworthy from USDT,
USDT is looks centralized, they are freezing millions of dollars and blacklisted thousands of addresses, it’s horrible to hold USDT stable coin, i will prefer to hold in USDC, it’s more safe to USDT. but stable coins holding always some risks, i am using these stable coins just in trading, not to holding in long term.

[Wakate]

Many of us know that USDT has opacity and for this, already renowned financial rating agencies have identified it as risky, one of which is S&P (Standard & Poor).
Now my point is that many of us hold stable currencies, whether for investment or as our own backup, what should we do in this case? In my view, USDT and USDC are among the top stable currencies, which one is more secure, USDC or USDT or any others options? I am seeking logical advice.

These two stable big industry coins are not safe to hold but majority might not be aware of this. You are only holding them for the sake of shifting away from the volatility market to maintain value but they are not that safe to hold. You coin can be frozen at any time without your consent. Don't argue with me cost you can always do your finding. I am not immuned to this because I am also holding it lol.
Who is going to safe us now?

[fuguebtc]

USDT's transparency remains a big question, but it has been downgraded by US financial institutions because its reserves are mostly gold and bitcoin, instead of USD like USDC. Not that the allegations of their lack of transparency have been going on for years.
USDT's FUD has been going on for over 10 years and is rekindled and becomes the focus in every cycle. But you see, they still exist and are still the biggest stablecoin to date. Therefore, I suspect that this is just unhealthy competition between stablecoins with each other as they try to spread Fud to reduce the reputation of their competitors, nothing more.

In my opinion, both USDT and USDC are the same.

[o48o]

Many of us know that USDT has opacity and for this, already renowned financial rating agencies have identified it as risky, one of which is S&P (Standard & Poor).
Now my point is that many of us hold stable currencies, whether for investment or as our own backup, what should we do in this case? In my view, USDT and USDC are among the top stable currencies, which one is more secure, USDC or USDT or any others options? I am seeking logical advice.

Secure in terms of what and from whom? They are both secure enough, but these days you might have more issues changing USDT to EUR for example.
But you might want to explain what properties you need for a stablecoin, as it also could be pegged to other things then dollars.

And anything in this space is experimental and risky. If not by shady reserves, then just via 0d exploits and noobs vulnerabilities to social engineering.

Personally i trust way less to tether after they decided not to comply with EU regulations or be more transparent.

[programmer3666]

if we are to make some comparisons it will be in 2 phase and in that regard both USDT & USDC each have their strong advantages, take for instance if it comes down to the level of usage and good liquidity! then obviously USDT will win that argument hands down but when it comes down to more transperency and even security wise then USDC will have more edge on that

[pooya87]

Neither of them should ever be considered safe options and if the only choice is to choose one of them, then I'd go with USDT.

My logic is that one of the problems with stablecoins is their centralization and the fact that like any other centralized payment system they too can shut down your account and freeze your funds so to speak. So when it comes to USDC since it is more centralized and works within censorship laws of the US, they'll have more ways to shut down your account and steal your money legally! That makes them riskier.

[ultrloa]

Neither of them should ever be considered safe options and if the only choice is to choose one of them, then I'd go with USDT.

My logic is that one of the problems with stablecoins is their centralization and the fact that like any other centralized payment system they too can shut down your account and freeze your funds so to speak. So when it comes to USDC since it is more centralized and works within censorship laws of the US, they'll have more ways to shut down your account and steal your money legally! That makes them riskier.

Somehow that is really one of my concern toward those stable coins like they have ability to freeze your asset, since anytime they can do this thing especially if they just think that our wallet is involve with something suspicious in their sense.

But in safe haven sense for only make our asset safe for declining on volatile market, well I guess I would agree choosing those stable coin would be the best option to pick by people don't want to deal with volatile movement with other altcoin. Also same as you I would pick USDT since aside that they got more volume, I also think that they have less risk of  direct US censorship compare to USDC.

[hugeblack]

If the choice is limited between USDT and USDC, USDC is safer and more stable due to its diversified reserves (although its price fell to 87 cents a few months ago^[1]).

If the choice includes all stablecoins, DAI is the best option for now, but it's best not to assume that stablecoins are equivalent to the dollar or suitable for long-term investment.

[1] https://decrypt.co/123211/usdc-stablecoin-depegs-90-cents-circle-exposure-silicon-valley-bank

[passwordnow]

We have no option but to choose to either or both of them. If I have a lot of money that I want to sit in stable coin and I don't have to use them as of now, I'll divide my wealth into two of them. That's just to be safe in keeping them in either. Both are liquid and have the most volume in the space so, if we really have to choose and keep them in stable coins, I wouldn't mind but these two are the best options so don't have to stick to any of them.

[5W-KILO]

USDT is more than enough and since you only use USDC and USDT as example I will pick USDT.

In the past this stable coin called USDT have faced many allegations and most of the time it is always about transparency and also adequacy of its reserves.

The most popular one is that Tether has not fully backed it's tokens with equivalent fiat currency as they claimed, they fought and fought on this for sometime which makes CFTC to investigate Tether in 2028/2019.

Everyone thought it was over for Tether, yet they remain the most dominant stablecoin till date, and till today few people still believe that Tether is a systemic risk and that a collapse can happen in the future which will affects the entire crypto market alot.

[Ishicryptic]

One is not supposed to hold usdt and usdc as investment except the person is just keeping it as back up funds and because they are also in holding a stable currency but if it's actually a real investment, then why not they go for Bitcoin which is more rewarding, for someone holding usdt as investment they won't even make so much out of it compare to someone holding Bitcoin, but it also depends on what the person wants. Usdt and usdc are the mostly used, an alternative can be busd but holding a huge amount on those centralized fiat is not really very secure too.

How can anybody hold a stablecoins for investment, they are stable and are not volatile like crypto coins that can shoot up and give you profit, in that case you cannot hope to make profit off a stablecoins. I hold stablecoins for short term use, mainly to trade a coin that I feel can dip on me and to trade my local currency to it untill when I need to spend it then I convert it back because of naira inflation. If you want to invest in cryptocurrency you should hold Bitcoin it is trusted to give you profit on the long run, any other cryptocurrency is gambling your funds.

USDT and USDC are the most popular stablecoins, I choose USDT because it's the most popular not that I trust it more, like I said I only hold it for short term purposes, where I keep my funds for long term is Bitcoin.

[Taskford]

If the choice is limited between USDT and USDC, USDC is safer and more stable due to its diversified reserves (although its price fell to 87 cents a few months ago^[1]).

If the choice includes all stablecoins, DAI is the best option for now, but it's best not to assume that stablecoins are equivalent to the dollar or suitable for long-term investment.

[1] https://decrypt.co/123211/usdc-stablecoin-depegs-90-cents-circle-exposure-silicon-valley-bank

And I agree because somehow USDC is more transparent than USDT since as what I know this is backed by U.S treasuries and cash, then also they are strictly operating under US regulatory compliance.

USDT face lots of issues regarding on its transparency and expose its user to lots of risk.

But since USDT is more famous because it place on top, lots of people would choose it over other stable coin because maybe they think that this is more better to use compare to other stable coin out there.