Question about loans here USDT vs USDC

[OgNasty]

I've noticed that most of the stablecoin loan requests here tend to be for USDT and not USDC.  I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  Is USDT somehow considered more Bitcoin friendly than USDC and that is why it gets more attention on this forum or is there some other reason I'm not seeing why USDT appears so popular in this section where USDC seems nearly nonexistent? 

[Crypto Library]

I've noticed that most of the stablecoin loan requests here tend to be for USDT and not USDC.  I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular. 

If you are talking about European countries then in this case USDC will be more popular among people there to use than USDT because since the implementation of CASPs rules in Europe in 2024, cex have brought limitations in USDT (delisted also).
And maybe that is why people there use USDC in real life?

Is USDT somehow considered more Bitcoin friendly than USDC and that is why it gets more attention on this forum or is there some other reason I'm not seeing why USDT appears so popular in this section where USDC seems nearly nonexistent? 

In terms of market cap, USDT is far ahead of USDC. While USDT holds a market cap of over $183 billion, USDC is around $72 billion. And this easily indicates that USDT is widely used worldwide, so people also use USDT more here (except the European's).
And I won't compare it with Bitcoin here, but I will say that USDT is stable, so people basically use it.

[Texac]

Network effect and liquidity may be the main reasons.

Speaking for myself, if I go to sell something on Binance P2P matket, USDT has a lot of clients. That is, USDT can be sold and cashed out at any time without facing any hazel. Other coins have very few customer and the rates are not good.

So if I want to take a loan, the first thing I want to consider is what I can easily sell at a good rate. And that is USDT. USDC's p2p market has not yet become as good as USDT.

So I would say the main reason USDT is more popular here is its global adoption and long-term dominance in crypto-native ecosystem.

[xLays]

I've noticed that most of the stablecoin loan requests here tend to be for USDT and not USDC.  I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  Is USDT somehow considered more Bitcoin friendly than USDC and that is why it gets more attention on this forum or is there some other reason I'm not seeing why USDT appears so popular in this section where USDC seems nearly nonexistent? 

I think one of the main reasons is that USDT came first. It was available several years before USDC so lenders started using it early. Once users get used to using one stablecoin, they usually keep using it unless they have good reason to change.

I also think it's because most lenders and borrowers like me on this forum already use USDT. New users often choose USDT too because it's what they see everyone else using. USDC is also good and popular stablecoin but yeah on bitcointalk, USDT has been the more common choice for long time.

[Lucano]

.My perception is that USDT was used earlier than USDC, USDC's popularity in your opinion is only local, while USDT adoption is much wider.

[shasan]

I have no idea too but I think it is for the network of trc. As erc-20 network fee is changeable and more than trc-20 network I think it might be one of the reason behind it. And usdt supported site is more than USDC. As USDT transaction more transparent I think people use USDT. And for loans I think for same reason (though I accept all reliable coins) people prefer USDT though I have not mentioned USDC and many more.

[noorman0]

I think it depends on the platform they are sending to, whether it's a P2P marketplace, a DEX, a casino, or something else. It comes down to platform acceptance and the availability of trading pairs.
Since it involves loans, people are usually keen to save on transaction fees and platform costs as much as possible.

[Bitcoin_Arena]

It so happens that USDT was more popular than USDC, at least from a global perspective. Also, the Tron network made USDT transactions much more popular, especially when the fees were still so low, and as far as I remember, from the beginning of USDC, it started with Ethereum, which had notoriously high transaction fees at the time compared to TRC20. So what you are seeing right now didn't just start yesterday. It started some years back.

[DireWolfM14]

I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  

I've found the same to be true.  I don't quite get why USDT has more volume.  With the independent audits on USDC reserves, and the very traditional and conservative approach Circle takes to preserve liquidity and stability, one would think it would be much more popular than Tether.

[examplens]

I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  

I've found the same to be true.  I don't quite get why USDT has more volume.  With the independent audits on USDC reserves, and the very traditional and conservative approach Circle takes to preserve liquidity and stability, one would think it would be much more popular than Tether.

USDC may be more popular in the US, but even though it is a large part of the market, the US is still not the whole world.
The fact that Coinbase is one of the creators of Circle, which at the time was very restrictive for regions outside the United States, had a lot of influence. Me specifically, as soon as I received their notification that there would be some regional restrictions on the account, I easily moved all the funds from there and almost completely ignored everything coming from Coinbase.
Later it changed, but Tether already took the default position where Coinbase did not want to do business.

[Bitcoin_Arena]

USDC may be more popular in the US, but even though it is a large part of the market, the US is still not the whole world.
The fact that Coinbase is one of the creators of Circle, which at the time was very restrictive for regions outside the United States, had a lot of influence. Me specifically, as soon as I received their notification that there would be some regional restrictions on the account, I easily moved all the funds from there and almost completely ignored everything coming from Coinbase.
Later it changed, but Tether already took the default position where Coinbase did not want to do business.

You are actually right about the coinbase restrictions. Most users from certain countries were sidelined without even proper reasons. USDT on the other hand, being the oldest stablecoin, had already capture most of the users.To be honest, at one point, USDT's biggest competitor was BUSD and if things had not turned so bad for them as they did due to regulations, I think they would be toe-to-toe with them right now.

[OgNasty]

Is there any demand for USDC loans here? I wanted to help people out with micro loans and am considering doing so here as I have never really interacted with this section before and want to show it some love. Anyone with any tips or advice feel free to let me know.

[xLays]

Is there any demand for USDC loans here? I wanted to help people out with micro loans and am considering doing so here as I have never really interacted with this section before and want to show it some love. Anyone with any tips or advice feel free to let me know.

You’ll only know the actual demand for USDC loans if you create lending thread or if someone creates thread asking for USDC. If most users are looking for USDT and USDC is the only option you can offer, you could approach them and ask if they would be willing to take the loan in USDC instead. Then defends to the borrower if they convert the USDC to USDT on an exchange if that’s what they actually need.

[examplens]

Is there any demand for USDC loans here? I wanted to help people out with micro loans and am considering doing so here as I have never really interacted with this section before and want to show it some love. Anyone with any tips or advice feel free to let me know.

You’ll only know the actual demand for USDC loans if you create lending thread or if someone creates thread asking for USDC. If most users are looking for USDT and USDC is the only option you can offer, you could approach them and ask if they would be willing to take the loan in USDC instead. Then defends to the borrower if they convert the USDC to USDT on an exchange if that’s what they actually need.

Many loans here are realized through Binance internal transfers, at least the ones that shasan does. We summarized that the use of USDT is a habit, but with the new regulation, everyone from the EU who is looking for a loan must turn to alternative solutions such as USDC, because USDT is delisted on most services. I believe that it is not a problem for shasan to do the necessary conversion, certainly, most of it takes place on Binance.

[AakZaki]

Including myself most like to use USDT for many years, I think because USDT existed first before USDC. So it has become my habit, even in trading on CEXs or DEXs I prefer to use USDT.

However, occasionally I use USDC for no more than $100 just for payments such as buying coffee with the QRIS feature in the bitget wallet.
I think using USDC as a payment as I mentioned it, because it has very low fees on the Base network.

[Ashawowo(OS)]

I've noticed that most of the stablecoin loan requests here tend to be for USDT and not USDC.  I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  Is USDT somehow considered more Bitcoin friendly than USDC and that is why it gets more attention on this forum or is there some other reason I'm not seeing why USDT appears so popular in this section where USDC seems nearly nonexistent? 

This is the first time I'm hearing that USDC is more popular, I've literally not done any transaction with it. I believe the popularity of USDC has something to do with your location. Here in my country, you hardly hear someone requesting USDT when having local crypto transaction. It's always USDT and I bet some on my guys don't even know about USDC. Tether penetrated the African markets more and I think most people from Africa prioritizes USDT over USDC.

[leonair]

I've noticed that most of the stablecoin loan requests here tend to be for USDT and not USDC.  I find this curious, as I've found in my personal interactions with people in real life, that USDC is more popular.  Is USDT somehow considered more Bitcoin friendly than USDC and that is why it gets more attention on this forum or is there some other reason I'm not seeing why USDT appears so popular in this section where USDC seems nearly nonexistent?  

The use of USDT is not more than USDC everywhere, its demand is more or less depending on the location and platform, but USDT is ahead in terms of market cap. If you go to p2p of various cex, you can see that USDT is the most traded currency for all countries. That is why everyone can probably think of USDT as a safe stable coin. And USDT can be cashed out very quickly at a good price on p2p, I think that is why USDT is in the highest demand and is also used the most. Speaking for myself, I always like to use USDT for any purpose.

[Curious T]

It's because USDT is simply way more popular. It's even clear in their market cap and trading volume. USDT market cap is over double that of USDC even though they both have the same price. It shows that way more people use or hold USDT than USDC. Their daily trading volume also tells the story. USDC has about 7 million in daily trading volume, while USDT has about 40 million. Even among exchanges, USDT is used more than USDC when they use stablecoins to measure the value of other coins. I've not looked it up before, but if I'm to guess the one that is accepted in more networks, I would pick USDT.