USDT | TUSD | BUSD | USDC - What are the differences?

Don Pavilion

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Quote from: xSkylarx on February 12, 2021, 01:50:16 AM

USDT, TUSD, BUSD, and USDC are all stablecoins. They have a value that is tied with the US dollar at 1:1 ratio. Now I'm wondering what is their differences.

Does each of them has different purpose other than being tied to USD?
Do they have different features or the fees when using them is different from one another?
Why USDT is commonly used when trading other crypto not the others?

They differ only in the blockchain network. Accordingly, each of these stablecoins has its own commission price for transfers and withdrawals. All are linked to the dollar exchange rate, so that you can be out of the market in these coins

hulla

hero member

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Quote from: Evgenklm on February 17, 2021, 06:12:08 AM

In fact, these stablecoins are no different from each other, the essence is the same, but everyone has their own reputation, someone often blames Tether for the endless issue and many are not sure that the reserve is 1:1, nevertheless, the capitalization of USDT is the highest, as for me, the best USDC they have a license and every month the reserves in fiat are certified.

Technically, this coins are somehow different to each other in terms of creation, opinion etc but they are all backed by USD and use as Stablecoin.
As you said, the dishonesty of the USDT is what lead to the creation more USD backed stablecoin but if you look every at all the listed stablecoin they are not different from fiat currency.

LostConfidence243

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Thanks for asking a nice question. All of the mentioned are stable coins, but some of us use USDT. The reasons why I use are:
1. USDT prices are often very close to 1:1.
2. It's popular and trusted crypto in crypto space

Evgenklm

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In fact, these stablecoins are no different from each other, the essence is the same, but everyone has their own reputation, someone often blames Tether for the endless issue and many are not sure that the reserve is 1:1, nevertheless, the capitalization of USDT is the highest, as for me, the best USDC they have a license and every month the reserves in fiat are certified.

shoreno

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Quote from: jrrsparkles on February 17, 2021, 05:56:08 AM

Quote from: xSkylarx on February 12, 2021, 01:50:16 AM

USDT, TUSD, BUSD, and USDC are all stablecoins. They have a value that is tied with the US dollar at 1:1 ratio. Now I'm wondering what is their differences.

Does each of them has different purpose other than being tied to USD?
Do they have different features or the fees when using them is different from one another?
Why USDT is commonly used when trading other crypto not the others?

All are stable coins and each of them created by different people and running on different chains for the same reason. If you wanted to find the real difference then you should added DAI into it which is also a stable coin and it is decentralized which is the big difference with those stable coins you mentioned.

add in that dai is also making a name next to usdt . both stable coins were being used the most by the people is because these two coins are first to became popular just like btc , btc gained momentum and stayed on top for a long time and eventually many people heard of it and stick with it compare to the cryptos that are new to them but its still up to them if they want to try something unusual they can always check the other kinds of stable coins . theres no harm in trying anyway , you just need guts

jrrsparkles

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Quote from: xSkylarx on February 12, 2021, 01:50:16 AM

USDT, TUSD, BUSD, and USDC are all stablecoins. They have a value that is tied with the US dollar at 1:1 ratio. Now I'm wondering what is their differences.

Does each of them has different purpose other than being tied to USD?
Do they have different features or the fees when using them is different from one another?
Why USDT is commonly used when trading other crypto not the others?

All are stable coins and each of them created by different people and running on different chains for the same reason. If you wanted to find the real difference then you should added DAI into it which is also a stable coin and it is decentralized which is the big difference with those stable coins you mentioned.

Snappycoco

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Some of them even have different structures like ERC20, TRC20 and even OMNI. Having different network also has its advantage naming TRC20 having the lowest fee of the three which is $1 for every transaction.

tvplus006

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To the Moon

Quote from: xSkylarx on February 12, 2021, 01:50:16 AM

USDT, TUSD, BUSD, and USDC are all stablecoins. They have a value that is tied with the US dollar at 1:1 ratio. Now I'm wondering what is their differences. ...

All the stablecoins you have specified are centralized and their trust is determined by the trust you have in the organization that issued them. It would be more correct to compare such stablecoins with decentralized ones, such as DAI. In this case, we would have seen a really fundamental differences.

CryptoTech_

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I think the difference is only in the network, other than that everything is the same because all of them is 1: 1 with real USD.

Periodik

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They are all basically the same. They only differ because they belong to different projects or companies and are running on different networks. But in general you can just choose any of them. USDT was the earliest of them all and is now the most popular also, with the highest volume. But it is also the most controversial because of the claims that it is not actually backed by real USD. Other than those, they are of the same feather.

abderrazak belkhir

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All stable coins have the same purpose but there are some different things between them...the usdt is the best among the traders because it can be used in many networks( erc20-trc20-bsc-omni) also each token is backed by one united states dollar and this is what make it the safest one.

GreekCoiner

newbie

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Like USDT which is the most liquid and offshore, all the others are just being issued by different companies. There are more stablecoins with lower market cap and there is also the DAI for example which is decentralized and is minted (created) by locking collateral in MakerDAO platform.

Almost all of them are running as ERC20 tokens but some of them are running in multiple blockchains like OMNI layer (bitcoin), TRC20 (tron), Algorand, EOS, Binance Chain etc.

These coins are actually backing the whole crypto market and without them I'm not sure if we would be above 200 Billion USD total crypto market cap now.

SquirrelJulietGarden

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The article Top 10 stable coins in 2020 is written with good information and I believe it can give you a few details and differences that you are looking for.

Stable coins are used to bring the convenience to the people in the world. They are created to give you alternatives for fiat currency but you have to believe in companies that they actually have enough fiat money to back for their stable coin amount.

If you need a stable coin with good volume and good adoption on exchanges, it is Tether USD. If you are looking for a decentralized stable coin and want to use it on DEX as Uniswap, it would be USDC.

marilynmanson21

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There are several differences that you can find,
first, the network used, because ETHEREUM gas is expensive, many tokens that run on the TRON or BSC network have low fees, for example USDT and not all stable coins run on multiple networks at once, you can pay attention to this.
Second, transaction fees and speed, now only stable coins using the TRON network have cheap transaction fees, so far only USDT stable coins use the TRON network.

beerlover

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Technically speaking they are all the same things, the only difference between them are the power of the companies behind them and that's it, nothing different. I do think that one of the weakest ones in that became the biggest one because of the first mover advantage but they are definitely one of the least trustworthy ones.

USDT is backed by the Tether company and the biggest one right now, I do not trust them at all, I don't know about TUSD and never heard of it before, BUSD is binance backed and binance is a huge billions of dollars in revenue company so I do trust them the most for sure, and USDC is circle I think? Not sure if it is the case that means it has a bit of wall street backing (via circle partnership) which gives a bit of credibility but they will do whatever suits them the most. So long story short, best one is definitely BUSD if you ask me.

terible.hunter

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There is a big difference. There is a large company behind each of these projects. It is in these companies that there are differences. Some companies are audited, some are not. This also adds a lot of credit to trust in one or another stablecoin.

zasad@

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USDT is a stablecoin issued on the bitcoin blockchain on the Omni Layer protocol in 2014.
Each USDT is backed by US dollars, the entire amount of which is held by Tether Limited.
Official website: https://tether.to/
All information can be obtained online https://wallet.tether.to/transparency
This cryptocurrency is the very first and it has problems with SEC.
I don't know who will win, but there are risks of scam.

USDC is a stablecoin backed by US dollars in a 1: 1 ratio, which is held in reserve by regulated financial institutions.
The Center is licensed by the state to carry out banking operations in the United States, and its activities comply with AML standards.
Each month, USDC dollar reserves are validated by Grant Thornton LLC, a
5 leading accounting organizations in the world.
https://www.centre.io/usdc-transparency
Official website: https://www.circle.com/

TUSD (TrueUSD) is another 1 stablecoin from TrueCoin LLC.
This is an American company that cares in accordance with US law and has all the necessary licenses and is subject to a statutory audit.
Stablecoin operates on the Ethereum ERC-20 protocol.
Official website: https://www.trusttoken.com

Binance USD-joint project Paxos Trust Company and Binance.Paxos also has its own stablecoin Paxos Standard (PAX)

Of all these stablecoins, I trust USDC the most, but I keep 95% of my stablecoins in DAI

My article in Russian
https://bitcointalksearch.org/topic/2019-5198239

[email protected]

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I think the cost used has to do with the platform used. but I think everything is the same as the exchange rate equation related to the USD as the currency that is agreed upon by the world.
somehow USDT and BUSD are probably more listed on the exchange. or maybe USDT is more popular in exchanges and as mandatory crypto in every local exchange to convert to currencies that exist in each country.

Festac

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USDT all the way, the stable coin has biggest volume and liquidity and it's also available on other blockchain platforms like Tron, USDT is way better than other stable coins, USDC, TUSD and others that OP made mention are all centralized projects but USDT wins this marginally

Tytanowy Janusz

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Quote from: ?? on ??

That is it the deference is this currencies are in it price, take usdt it price is constantly stable at $1.00 at all time but USDC and the rest are changing in price sometimes it go above $1 and some little below $1.

Its like 0.9992 USDC/USDT. Its like 0.08% difference and it fluctuates up and down. The difference is so small that i don't thing it's something worth mentioning.

Quote from: xSkylarx on February 12, 2021, 01:50:16 AM

Does each of them has different purpose other than being tied to USD?
Do they have different features or the fees when using them is different from one another?
Why USDT is commonly used when trading other crypto not the others?

1- no. All of them have the same purpose. They were just emitted by different companies.
2- depends on network that you use them on. USDT support Omni, ERC-20, TRC-20, BSC, BUSD support ERC-20, BSC.
3- it was the first stable coin that dominated the markets. Now that most of the volume and liquidity is in USDT trading pairs, it's hard for others to break out because the user has to give up on liquidity to trade with other stable coins. But the interesting thing from recent days is that USDT's poor reputation made dex investors/traders to chose USDC. USDC is ~30-40% bigger on uniswap than USDT. Sooner or later it will this trend will transfer to cexy

Topic: USDT | TUSD | BUSD | USDC - What are the differences? (Read 265 times)