USDT is built on Ethereum, with smart contracts.
Bitcoin and USDT are different in their transaction speeds and fees. Bitcoin transaction are slow transaction and higher fees, USDT on the other hand are fast in transaction because of Ethereum network
SnipI know you made your little research to make this post, so don't feel bad when you get corrected just take it as part of gaining more knowledge.
There are so many wrong inputs here.He can be wrong in the second quote but he is not wrong about this one. USDT is built on Ethereum blockchain is right but you can let him know that here are other networks that have USDT as tokens. I think Tron even has the larger percentage of the token. Some others are the solan and polygon network etc and layer 2 like optimism and arbitrum etc.USDT is built on Ethereum, with smart contracts.
Not just Ethereun network, USDT is also built on several other networks, including OMNI, Trons, Binance smart chance (BSC), etc.
I don't think it is because USDT is a stablecoin and that is why the network is very fast. But it is because the traffic is like much since it is not volatile like bitcoin. Stablecoins are not really too good for people because they think that it would not give them any profit because it is in one one place for a very long time. People like to keep coins in USDT for selling or buying so that they would not lost in the process.There is no need for the comparison of bitcoin to USDT because it does not worth it. USDT is stable and centralized, and that is why it is still the same with fiat usd. Bitcoin might have one or two challenges in fees due to mempool congestion, but that does not mean that it should be compared with vegetables.
Usdt is mostly used to secure investment especially when trader are trading and there is market fluctuations like uncalled dip at this point the trader can easily stop trading and secure their funds in exchange using usdt or any stable coin on exchange such dai, usdc and any other currency that serves as stablecoin. I don't they should be compared together because both has no similarities and one is centralized while the other is decentralized currency.I don't think it is because USDT is a stablecoin and that is why the network is very fast. But it is because the traffic is like much since it is not volatile like bitcoin. Stablecoins are not really too good for people because they think that it would not give them any profit because it is in one one place for a very long time. People like to keep coins in USDT for selling or buying so that they would not lost in the process.There is no need for the comparison of bitcoin to USDT because it does not worth it. USDT is stable and centralized, and that is why it is still the same with fiat usd. Bitcoin might have one or two challenges in fees due to mempool congestion, but that does not mean that it should be compared with vegetables.
Usdt is mostly used to secure investment especially when trader are trading and there is market fluctuations like uncalled dip at this point the trader can easily stop trading and secure their funds in exchange using usdt or any stable coin on exchange such dai, usdc and any other currency that serves as stablecoin. I don't they should be compared together because both has no similarities and one is centralized while the other is decentralized currency.Those who dey always sell coin nai dey use USDT pass. Me I no even remember when last I keep or sell coins in USDT. I like to sell my coin in BTC. Though USDT is good to keep coins as you said because the fluctuating is minimal and not like bitcoin and Ethereum. And the first time when I noticed USDT it was a boy in compound used to buy USDT and sell it within a week. I have bought from him too but I still convert it to bitcoin and sell it.
The same reason with yours that made me not to always have USDT, thinking it is not important and I only sell and buy bitcoin. Recently, I was proved wrong on such mindset, when I got paid in USDT, and immediately I converted it to bitcoin, of which I still need to use some part of the money. The next day, I wanted to make a trade, I saw that bitcoin price dipped ans I was running at loss. I git mad at myself, and decided never to convert USDT to BTC anymore and for that reason, I always keep my spending in USDT to keep the price stable.Usdt is mostly used to secure investment especially when trader are trading and there is market fluctuations like uncalled dip at this point the trader can easily stop trading and secure their funds in exchange using usdt or any stable coin on exchange such dai, usdc and any other currency that serves as stablecoin. I don't they should be compared together because both has no similarities and one is centralized while the other is decentralized currency.Those who dey always sell coin nai dey use USDT pass. Me I no even remember when last I keep or sell coins in USDT. I like to sell my coin in BTC. Though USDT is good to keep coins as you said because the fluctuating is minimal and not like bitcoin and Ethereum. And the first time when I noticed USDT it was a boy in compound used to buy USDT and sell it within a week. I have bought from him too but I still convert it to bitcoin and sell it.
I think OP is the one who is not more exposed on these two for him to have thought of creating a new thread just to talked about the comparing stablecoin to bitcoin, this is what i believe that an average user should know that one is stable and the other is volatile, the stable one is pegged to USD value or rate and the other is a decentralized digital currency, which anyone can easily make use for the internet for in making more research and learnings about the two.you tok well. As for me the way I even say USDT and USD dem just dey like one. Because in the centralized exchanges wen we want to know di naira price in dollar we normally use USDT to check the dollar price in naira. And you can see the two arrows from the image.
I think OP is the one who is not more exposed on these two for him to have thought of creating a new thread just to talked about the comparing stablecoin to bitcoin, this is what i believe that an average user should know that one is stable and the other is volatile, the stable one is pegged to USD value or rate and the other is a decentralized digital currency, which anyone can easily make use for the internet for in making more research and learnings about the two.you tok well. As for me the way I even say USDT and USD dem just dey like one. Because in the centralized exchanges wen we want to know di naira price in dollar we normally use USDT to check the dollar price in naira. And you can see the two arrows from the image.(https://www.talkimg.com/images/2024/06/05/cnqfm.jpeg)So I don't even see any different because we calculate naira from USDT to USD.