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USDT and USDC: what a stablecoin is, and why we use them
Your balance is kept in dollar stablecoins rather than in a cryptocurrency whose price moves all day. Here is what that means for the money you play with.
A token that tracks the dollar
A stablecoin is a digital token designed to hold the value of one US dollar. USDT is issued by Tether and USDC by Circle. Both are backed by reserves that their issuers report on, and both are among the most widely held tokens in the world. For you, one USDT or one USDC is meant to be worth one dollar.
Why not Bitcoin or BNB?
If balances were kept in a coin whose price changes by the hour, the value of your wallet would rise and fall while you were not even playing. A 10.00 prize could be worth 9.40 by the evening. Stablecoins take that noise away: the number you see in your wallet is the number you have.
USDT or USDC: which to use
Either works the same way on fourdigits. Choose whichever your exchange or wallet already holds, and use the same coin when you move money in and out so there is nothing to convert. Both are handled on BNB Smart Chain, which keeps network fees low.
What a stablecoin is not
A stablecoin is designed to stay at one dollar, but it is issued by a company and depends on that company’s reserves. That is a different kind of risk from a bank deposit, and worth understanding before you hold any large amount in one. Keep in your wallet what you intend to play with, not your savings.