What's the difference between wrapped Bitcoin (WBTC) and Bitcoin, C-Tether (CUSDT) and Tether (USDT)

[Kayzzy3]

Just as I have rightly said here a couple of days back, I'm new to the crypto world and is ready to learn and grow, this is a very important question to me.
As we can all observe, there seem to be versions of mostly successful tokens on the market examples are the ones I mentioned above but they so many.
Am asking because WBTC is doing well like BTC while other pairs may not. What is really the difference between those coins, why are they created ?

 

[WhiteHouse]

Tether is cryptocurrency with tokens issued by Tether Limited, which claims that each token issued is backed by one United States dollar though they may not necessarily be redeemed through the Tether platform. Tether is called a stablecoin because it is designed to always be worth $1.00

BitCoin a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Proof of work based ( minable )

 

[zagzagi]

USD Coin is a stablecoin launched by the CENTER Consortium founded by Coinbase and Circle. Based on an open source, transparent and membership system created by CENTER for stablecoins, USDC is the stablecoin with the highest market value after Tether (USDT).

The main differences of USD Coin compared to Tether can be listed as follows:

1- It works in compliance with the relevant laws of the United States.
2- It uses well-established banks and auditors.
3- A monthly report is published by Grant Thornton LLP, the 6th largest accounting company in the USA, on the dollar reserve supporting USD Coin.

 

[Akinwale701]

Just as I have rightly said here a couple of days back, I'm new to the crypto world and is ready to learn and grow, this is a very important question to me.
As we can all observe, there seem to be versions of mostly successful tokens on the market examples are the ones I mentioned above but they so many.
Am asking because WBTC is doing well like BTC while other pairs may not. What is really the difference between those coins, why are they created ?

As much and as little I've known about Cryptocurrency, I know bitcoin and I know Tether, otherwise referred to as USDT. But for others which you listed above, I do not know anything. USDT has been known to be a stable coins whereas bitcoin is not a stable coin.

 

[Suba]

Difference between wrapped Bitcoin (WBTC) and Bitcoin WBTC is an ERC-20 token (tokenized BTC), and is pegged by BTC with a ratio of 1: 1 and works on the Ethereum network and will be easy to use on dApps or other Ethereum blockchain platforms, while Bitcoin is a cryptocurrency (not a token) Works on the Bitcoin blockchain, also BTC and WBTC have different addresses, Difference between C-Tether (CUSDT) and Tether (USDT) C-Tether (CUSDT) is an Ethereum token [ERC-20] and it seems that the project is not yet active, while Tether (USDT) USDT (Tether) is a stablecoin whose value is pegged to the US dollar, made by the company Tether Limited.

 

[Akinwale701]

Just as I have rightly said here a couple of days back, I'm new to the crypto world and is ready to learn and grow, this is a very important question to me.
As we can all observe, there seem to be versions of mostly successful tokens on the market examples are the ones I mentioned above but they so many.
Am asking because WBTC is doing well like BTC while other pairs may not. What is really the difference between those coins, why are they created ?

To be honest, I have always wondered why and how it is possible for for miners to create different faucets of Cryptocurrency like this. But even if I personally were to invest or trade in Cryptocurrency, I will rather choose the more popular ones like Bitcoin, Ethereum, and Tether (USDT). but for others coins, count me out lol

 

[Lagazine]

I think it's time we learn about this token made by Tether company. I'm a lover of cryptocurrency but I'm still learning about some newly introduced crypto wallets, so that I can balance it with my experience with others.

 

[Nomad]

wrapped bitcoin is the bitcoin in ethereum blockchin. weapped bitcoin is guaranteed by bitcoin, therefore, the price of bitcoin is similar with the price of wrapped bitcoin

 

[Justin]

I don't think I have heard of CUSDT but USDT ir Tether is a stable coin. Stable coin means a crypto currency that is pegged with fiat currency and has a fixed value just like fiat currecy

 

[mcjerry]

both bitcoin and wrapped bitcoin are same coin. Only that bitcoin is the real coin that is mined. While wrapped bitcoin is a token registered under etherium network

 

[GIFTMICHAEL]

All this lookalike coins all emanated out of hard-fork. Without the hard fork it wouldn't have been possible for the coins resembling each other.

 

[Nurudeen]

I really don't know any difference between all the crypto currency you just listed in your post. I will try to make more research about the crypto currency to know more about them

 

[Yusuf]

I will try as much as possible to make some extensive research about the coin you listed up there because I really don't know much about the coins and I can give verdict about them

 

[GIFTMICHAEL]

The coins are simply alike especially wrapped BTC and the main BTC. The prices are simply the same, I guess the coin is simply a back up to BTC.

 

[Lens]

Their is no sharp difference but the other cryptocurrencies are created to have a better version than bitcoin. They are like an upgraded version of the bitcoin.

 

[Sotherefore]

I don't really know much about those currency you have mentioned except the the usdt, in cryptocurrency exchanges the usdt is considered as a coin that is also the same value as the US dollars and can be used in place of US dollars

 

[ganibade]

I have not use to wrapped bitcoin. This strange to me, I will find time to make a research on it. I only trade with bitcoin, ethereum litecoin and usdt.

 

[Kaffyfolla]

Wrapped bitcoin (wBTC or WBTC), jointly created by Bitgo, Kyber, and Ren, was launched in 2019. To obtain wBTC, you must request the tokens from a merchant, such as Kyber, while Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. ... People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.

 

[Sincerem]

Monetization of the value is what is considerable the differences between the aforementioned crypto currencies. They operate on different systems and protocol and vary differently in it's prices and stability.

 

[Bookwormlux]

Usdt is usually a stable coin and usually not appreciate in value or depreciate at all , because it has been paired with the US dollars. The others are volatile and cannot be relied on.