Which one is safe: USDC TRC20 or USDC ERC20 Wallet?

QualityService

QualityService

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I would like to know if in case something happens to Tron in future, will the funds in USDC be safe as well- if I keep USDC in TRC20 wallet?

Or it is not the case?

Kindly advice
 
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From an average trader's perspective, there's not much difference except that you'll find a whole lot more trading pairs and liquidity with USDT rather than BUSD.

But there is a few differences:

BUSD is regulated and audited. They ensure that every BUSD is backed 1:1 by a physical dollar stored in FDIC-insured US banks.

USDT is not audited and has had security breaches and lawsuits in the past. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.

So I would consider BUSD to be a safer stablecoin, but USDT is the more useful one for traders due to its huge daily volume and number of trading pairs.
 
abdulatif said:
From an average trader's perspective, there's not much difference except that you'll find a whole lot more trading pairs and liquidity with USDT rather than BUSD.

But there is a few differences:

BUSD is regulated and audited. They ensure that every BUSD is backed 1:1 by a physical dollar stored in FDIC-insured US banks.

USDT is not audited and has had security breaches and lawsuits in the past. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.

So I would consider BUSD to be a safer stablecoin, but USDT is the more useful one for traders due to its huge daily volume and number of trading pairs.
Click to expand...

Thanks but I am concerned more about Tron and ETH network these stable coin uses. I mean if I choose USDT or USDC, then does it matter which network(TRX, ETH,MATIC etc) I am using to store funds? i.e does it make a difference if I store in USDT TRC20 or USDT ERC20? This is what I want to know.
 
why do you prefer to store stable coin instead of cold hard cash ?
 
QualityService said:
Thanks but I am concerned more about Tron and ETH network these stable coin uses. I mean if I choose USDT or USDC, then does it matter which network(TRX, ETH,MATIC etc) I am using to store funds? i.e does it make a difference if I store in USDT TRC20 or USDT ERC20? This is what I want to know.
Click to expand...
USDC from TRC20 cannot be transferred to USDC ERC20. For USDC in ERC20, the fees are significantly higher.
 
abdulatif said:
From an average trader's perspective, there's not much difference except that you'll find a whole lot more trading pairs and liquidity with USDT rather than BUSD.

But there is a few differences:

BUSD is regulated and audited. They ensure that every BUSD is backed 1:1 by a physical dollar stored in FDIC-insured US banks.

USDT is not audited and has had security breaches and lawsuits in the past. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.

So I would consider BUSD to be a safer stablecoin, but USDT is the more useful one for traders due to its huge daily volume and number of trading pairs.
Click to expand...
It mans usdt can tank anytime?
 
abdulatif said:
From an average trader's perspective, there's not much difference except that you'll find a whole lot more trading pairs and liquidity with USDT rather than BUSD.

But there is a few differences:

BUSD is regulated and audited. They ensure that every BUSD is backed 1:1 by a physical dollar stored in FDIC-insured US banks.

USDT is not audited and has had security breaches and lawsuits in the past. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.

So I would consider BUSD to be a safer stablecoin, but USDT is the more useful one for traders due to its huge daily volume and number of trading pairs.
Click to expand...
I completely agree with you, but even if the USDT Coin, which should be viewed critically, should get problems at some point and depegged, all other stablecoins will suffer as well, the entire crypto space is still extremely intertwined at the moment.
 
TRC20 might be faster and cheaper but it isn't safer than the ethereum version. But both of them are very big blockchains so I doubt much can happen.

On the other hand when it comes to the type of coin like USDT/USDC/BUSD then there's a very big difference.
BUSD/USDC are the safer stable coins backed by actual assests and government vetted whereas USDT isn't as clean
 
QualityService said:
Thanks but I am concerned more about Tron and ETH network these stable coin uses. I mean if I choose USDT or USDC, then does it matter which network(TRX, ETH,MATIC etc) I am using to store funds? i.e does it make a difference if I store in USDT TRC20 or USDT ERC20? This is what I want to know.
Click to expand...
All networks are safe to use. Fees for all these differ though.
 
No coin is 100% safe. If you do not want any risk, keep the money in bank.
 
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