Cryptocurrency Q&A
Is USDC a Bitcoin?
Is USDC a Bitcoin?
Caterina
Sun May 12 2024
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7 answers
1471
Excuse me, I'm a bit confused about cryptocurrencies. Could you please clarify for me whether USDC is a type of Bitcoin? I've heard of Bitcoin, of course, but USDC seems to be a different name. Are they related in any way, or are they completely separate entities? I'm trying to understand the nuances of the crypto world, and this distinction is important to me. Could you please explain the difference between USDC and Bitcoin, if there is one?
7 answers
Valentino
Tue May 14 2024
It is designed to maintain a peg to the US dollar.
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SsangyongSpiritedStrength
Tue May 14 2024
A fiat-backed stablecoin is a unique type of cryptocurrency.
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DaeguDivaDanceQueenElegantStride
Tue May 14 2024
It is backed by reserve assets in the traditional financial system.
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KpopStarlet
Tue May 14 2024
These assets can be cash, cash equivalents, or securities.
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benjamin_stokes_astronomer
Tue May 14 2024
USDC is an example of a fiat-backed stablecoin.
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