Question about loans here USDT vs USDC

[EarnOnVictor]

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.

This depends on people you are asking from and the country you are. I would doubt that if they are truly crypto persons. The USDC will always be more popular with those who are used to the fiat-kind of security, and indeed, regulators are friendlier with USDC than USDT; a very good reason why people in advanced countries would trust it more from many standpoints.

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? 

Bitcoin has nothing to do with this, but the time they were created, how much people and companies accepted (liquidity), and above all, how they were both structured. Of course, the USDT wins in most of these, especially being the first successful stablecoin, right after the functionally dead bitUSD.

[Ndabagi01]

Bitcoin has nothing to do with this, but the time they were created, how much people and companies accepted (liquidity), and above all, how they were both structured. Of course, the USDT wins in most of these, especially being the first successful stablecoin, right after the functionally dead bitUSD.

I am more familiar with USDT and I use it more. All my conversions to stable coins are in USDT and never opt to convert to any other stable coin before. Maybe the reason was what you highlighted in your reply here because I barely even know the full meaning of USDC, like what the last C in the abbreviation means since I don’t even convert to it. Someone sent USDC for me instead of USDT, during conversion before doing P2P, I saw the a difference between them. It was since then I came to know that 1USDT is not equal to 1USDC and they’re both stable coins, what could be the reason for that because I saw one time that there is a bit of fraction difference between them.

[Hamza2424]

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?

But this does not explain why USDT is in higher demand than USDC. If the question is about why USDC is in high demand, then this explanation would be useful! Or am I missing something? USDT is banned in the EU by MiCA, so in the EU, people will use MiCA authorized stablecoins only.

What I think is why people on this forum talk more about USDT when it comes to loans. They might be using DEXs or instant no KYC exchanges, and not all of them have the pair that they want, but USDT is universally used by everyone. Maybe that's why. Or another reason can be the nature of the person, because if I am used to USDT since the start, then my first choice is going to be it.

[Crypto Library]

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?

But this does not explain why USDT is in higher demand than USDC. If the question is about why USDC is in high demand, then this explanation would be useful! Or am I missing something? USDT is banned in the EU by MiCA, so in the EU, people will use MiCA authorized stablecoins only.

I think you didn't understand my explanation well here. I have already mentioned here that the reason why USDC is used more in European countries is the ban on USDT. I didn't mean thats the reason for
I said this here in the context of OgNasty's  these words.

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

What I think is why people on this forum talk more about USDT when it comes to loans. They might be using DEXs or instant no KYC exchanges, and not all of them have the pair that they want, but USDT is universally used by everyone. Maybe that's why. Or another reason can be the nature of the person, because if I am used to USDT since the start, then my first choice is going to be it.

Is this actually a proper explanation? I don't think so,   
Because I have already given kindda same explanation, by mentioning the market volume of USDT and USDC. And the higher the volume, the more universally used it is. 

And because of USDT is universally used more, that is why USDT is also used in this forum more than USDC, But still, the question here "why USDT is universally used more?"

And here, if I could give a very simple answer in one sentence, USDT was one of the first solutions that solved this problem so that we wouldn't have to go to the bank again and again for selling Bitcoin.

It started its journey in 2014 and on the other hand, USDC started its journey in 2018.

The thing is that USDT is an adult while USDC is a newborn baby.

[sergiorus]

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?

But this does not explain why USDT is in higher demand than USDC. If the question is about why USDC is in high demand, then this explanation would be useful! Or am I missing something? USDT is banned in the EU by MiCA, so in the EU, people will use MiCA authorized stablecoins only.

What I think is why people on this forum talk more about USDT when it comes to loans. They might be using DEXs or instant no KYC exchanges, and not all of them have the pair that they want, but USDT is universally used by everyone. Maybe that's why. Or another reason can be the nature of the person, because if I am used to USDT since the start, then my first choice is going to be it.

USDT is what the vast majority of crypto assets are traded against on large exchanges. And I mean both spot and futures (futures also use USDT as the collateral).

The demand for it is simply incomparable to USDC.

Largest OTC desks still deal mostly with USDT too. And since none of them are in the EU, they can't be bothered by all these MiCA shenanigans either.

[Swordsoffreedom]

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 USDC 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.

USDC tends to be more popular in the US and Eu because it follows regulatory requirements more closely, while USDT is more popular in many other market.

You may be right that their popularity depend on the region and user habit. So, OgNasty isn't wrong to say USDC is more popular if he is from the US, and you are not wrong either if you're from outside those two region.

But overall, USDT is still more popular. I think this is mainly because it got there first and built such deep liquidity and user base before USDC even appeared.

[Hamza2424]

I think you didn't understand my explanation well here. I have already mentioned here that the reason why USDC is used more in European countries is the ban on USDT. I didn't mean thats the reason for
I said this here in the context of OgNasty's  these words.

Yes it makes sense now.

Is this actually a proper explanation? I don't think so,   

Because I have already given kindda same explanation, by mentioning the market volume of USDT and USDC. And the higher the volume, the more universally used it is. 

Haha yeah yeah bro, I got it.

The use of USDT is higher, and that's a good point. USDT is older than USDC, so that's why people are more prone to use it instead of USDC. I even myself use USDT mostly over USDC.

There was a doubt about the audit of USDT, and now KPMG U.S. has also audited USDT, but so far they have not shared the results, or have they?

I did not find any. What do you think about that?

[MadSl1m]

leonair's audit puzzle has a simple answer: nobody in this section redeems at the issuer. Tether's direct window is verified customers only, $100k minimum. Circle's is a business account. On a $200 loan you're exiting through whatever market is near you, so reserve reporting never enters into it.

What does is depth where the borrower lives. Outside the US and Europe that's usually Tron USDT, and it isn't close. Whoever converts eats the spread, so requests arrive already denominated in whatever the local P2P desk buys.

On the USDC micro loans, I'd still do it. Just expect to be quoting people who'd swap it first.

[Crypto Library]

Is this actually a proper explanation? I don't think so,   

Because I have already given kindda same explanation, by mentioning the market volume of USDT and USDC. And the higher the volume, the more universally used it is. 

Haha yeah yeah bro, I got it.

The use of USDT is higher, and that's a good point. USDT is older than USDC, so that's why people are more prone to use it instead of USDC. I even myself use USDT mostly over USDC.

It is true that the usage of USDT is very high and in all other aspects it is a good point but if someone says that we can blindly believe it just because of its high market volume then I would disagree. I myself use USDT mostly but when it comes to my backup, I don't put all my eggs in one basket, meaning I hold my backup funds in a combination of USDT and USDC.

There was a doubt about the audit of USDT, and now KPMG U.S. has also audited USDT, but so far they have not shared the results, or have they?

I did not find any. What do you think about that?

Here, KPMG U.S. shared the audit report it did, but did not share the details report publicly, although the reason given here is that they did not share the data publicly as they are a private company.

However, the data they provided states that as of December 31, 2025, their reserves are $6.814 billion more than their liabilities. However, I do not know the current news.
And so since the full report has not been shared publicly in detail yet, there will be doubts.

[Hamza2424]

It is true that the usage of USDT is very high and in all other aspects it is a good point but if someone says that we can blindly believe it just because of its high market volume then I would disagree. I myself use USDT mostly but when it comes to my backup, I don't put all my eggs in one basket, meaning I hold my backup funds in a combination of USDT and USDC.

High volume should not be taken as a guarantee that it is going to be legit, because it won't. You are a smart guy to not put all of your eggs in one basket. Always carry two or three at least. I also do it, but my first choice has always been USDT, and for the long term, I merely hold it haha. I only hold BTC or some other alts, or I sell whenever I have the need.

Here, KPMG U.S. shared the audit report it did, but did not share the details report publicly, although the reason given here is that they did not share the data publicly as they are a private company.

However, the data they provided states that as of December 31, 2025, their reserves are $6.814 billion more than their liabilities. However, I do not know the current news.
And so since the full report has not been shared publicly in detail yet, there will be doubts.

Thanks for giving your answer on this one, but bro, what else do you think about the audit regardless of the article? Do you think they are being given privilege because it has helped US authorities on several matters? That's why they were able to complete their audit better than before? The last two times, they had to pay fines because they lied about their reserves, which proves they lied, and a lot of people might not even know about those cases, which are also mentioned in the article you attached.

[Crypto Library]

It is true that the usage of USDT is very high and in all other aspects it is a good point but if someone says that we can blindly believe it just because of its high market volume then I would disagree. I myself use USDT mostly but when it comes to my backup, I don't put all my eggs in one basket, meaning I hold my backup funds in a combination of USDT and USDC.

High volume should not be taken as a guarantee that it is going to be legit, because it won't. You are a smart guy to not put all of your eggs in one basket. Always carry two or three at least. I also do it, but my first choice has always been USDT, and for the long term, I merely hold it haha. I only hold BTC or some other alts, or I sell whenever I have the need.

Even though you and I know about the rrisk on USDT, when we hold assets in USDT, isn't it like we are knowingly smoking cigarettes even though the cigarette packet says "smoking is injurious to health"?
Although we don't have any other way? 

Thanks for giving your answer on this one, but bro, what else do you think about the audit regardless of the article? Do you think they are being given privilege because it has helped US authorities on several matters? That's why they were able to complete their audit better than before? The last two times, they had to pay fines because they lied about their reserves, which proves they lied, and a lot of people might not even know about those cases, which are also mentioned in the article you attached.

You've just come to the main point.
To be honest, I have no other information other than this article that would confirm the authenticity of this audit because it is private and as well we don't find any official statement on the KPMG U.S. website, the statement we are seeing it is on the tether website. And you already mentioned in your post that USDT has been fined before for misrepresenting their reserves.
So is there any guarantee that the information this time will not be false?