$USDC

What is the difference between the USDC dollar and its counterpart USDT?

Both are stable digital currencies (Stablecoins) that experienced significant growth and spread in 2020, with the total supply of stablecoins increasing more than 5 times from about $5 billion to over $28 billion, coinciding with the growth in decentralized financial exchanges (DeFi). This was due to several reasons, the most important of which are:

Stablecoins serve as a bridge between traditional fiat currencies and cryptocurrencies, and they may be one of the strong reasons for the dominance of the crypto market. Many experts believe they will be a gateway for developing fiat-to-crypto payment projects and their proliferation in the coming years.

Stablecoins are the key to making advanced tools built on blockchain technology attractive and usable for both developers and traders.

The need for stablecoins in decentralized finance (DeFi) for making payments.

Increasing reliance of companies on cryptocurrencies for payments, as many prefer to deal in a digital currency linked to a real currency as a reserve, which is the foundation for building stablecoins.

Therefore, the difference between them largely depends on the use case, which in turn depends on the specific needs and preferences of the user and the type of transactions.