USDC contrasted with USDT What's the difference and which method works better for Coinbase cash deposits?

Seeking Advice/Help
1

I was planning to make a cash deposit into USD, but I’m not sure if using USDC or USDT would be preferable.

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For cash deposits on Coinbase, using USDC (USD Coin) might be better. USDC benefits from the backing of major digital asset companies like Coinbase and Circle, ensuring transparent reserves and regulatory oversight. In contrast, USDT (Tether) is widely integrated across various platforms, enhancing its utility and acceptance in the stablecoin market despite previous scrutiny over its reserve backing.

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USDT is not backed and lacks proper audits. It’s best to avoid it.

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If you’re new to crypto, consider using USDC on Coinbase. Coinbase’s support for USDT is lacking. If you want to avoid issues like mine; transferring USDT from Binance (not using their only supported ETH network) to Coinbase and losing all your money; stay away from USDT unless you’re planning to switch exchanges.

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I prefer USDC. It was launched alongside Coinbase and offers more transparency than USDT regarding its backing.

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@DollarDiana Thank you. Is this preferable to utilizing only standard USD?