Silvia
Tue May 28 2024
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6 answers
1032
Is USDT really backed by USD?
Could you please clarify for me, is USDT indeed fully supported by the United States dollar? I've heard conflicting reports on this matter and am seeking a definitive answer. Is there a transparent and verifiable mechanism that ensures the one-to-one pegging of USDT to USD? Additionally, how does the market confidence in USDT's stability factor into its value? I'm curious to understand the economic forces that uphold this relationship. Could you elaborate on the underlying mechanisms and processes that support the claimed backing of USDT by USD? Thank you for your time and assistance in clarifying this matter.
amelia_martinez_engineer
Sun May 12 2024
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6 answers
1527
Is USDC backed by USD 1 to 1?
I've been hearing a lot about USDC recently, and I'm trying to understand its underlying mechanism. Could you clarify for me whether USDC is indeed backed by the US dollar in a one-to-one ratio? This is a crucial aspect for me as I'm considering investing in it. I've read some conflicting information on this matter, and I'm hoping you can provide me with a clear and concise answer. I understand that stability is a key factor in cryptocurrency, and if USDC is indeed fully backed by the US dollar, it would certainly give me more confidence in its value. Could you please elaborate on this point?
Martina
Sun May 12 2024
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6 answers
1042
Is USDC not backed by USD?
Could you please clarify, is USDC not actually backed by the United States Dollar? I've heard conflicting information about its reserve assets, and I'm trying to understand its true value proposition. As a cryptocurrency enthusiast, it's crucial for me to know the extent to which USDC is truly backed by fiat currency. Is there a risk involved in relying on USDC as a stablecoin if it's not fully collateralized by USD? I'd appreciate your insights on this matter.
