Reviews for USD Coin
Coinbase is supporting USDC.
This is going to be the on-ramp that enables millions of people to interact with Dapps without taking on balance sheet risk.Full review
Everyone seems to think that Tether's main problem is whether it's 100% backed...but it's main problem is that it's centralized. And GUSD and USDC are just Tether 2.0.Full review
I don't think USDC will implode. I just don't think it is very useful. It's mostly just a marketing gimmick.Full review
Frankly, to this day, I feel 10x more comfortable holding USDC or GUSD than the Dai, because I trust the operational excellence of Coinbase and Gemini.Full review
Crypto dollars, like other crypto assets, ride on crypto rails. I can send my crypto dollars from my Coinbase wallet to your Coinbase wallet, your Ledger wallet, or many other crypto wallets.
USDC is built on Ethereum and is an ERC-20 token. So it uses crypto standards to ride on these crypto rails.
But more than all of that, USDC are programmable dollars. This is a big deal. Kind of like the difference between an MP3 file and song on a cassette tape. Once an asset is natively digital, without any strings attached, and can be programmed and routed digitally, interesting things happen.
If you have cash balances in your Coinbase account, consider using at least some of them to buy USDC. Then send them around to friends and family. It will feel like using Venmo today. But that is just the start of a lot more to come once programmers start building apps that accept USDC and other crypto assets.Full review
USDC might claim that it's playing nice but it's exploiting a arb between cosplaying as regulated and actually being regulated. they haven't blacklisted an address yet. it's effectively permissionless (with all the issues that inculcates) until regulators wake up.Full review
For crypto exchanges, USDC is a good initiative because there’s clear demand for the product now and it can generate a new revenue stream (there’s interest to be earned on USD in banks as USDC adoption grows).
USDC is inherently disadvantaged in the long-term though because it requires trust in a limited number of centralized parties to use it and lacks social scalability. Bankcoin is a better term for it in my opinion.Full review
See how USD Coin compares with other stablecoin cryptocurrencies.
Dai is a decentralized, fully collaterized stablecoin.
TrueUSD is a dollar-backed stablecoin running on Ethereum.
Gemini Dollar is a USD-backed stablecoin.
Tether is a dollar-backed stablecoin.