Convert USDT to USDC on Coinbase Pro, Here's How Users Respond!

Coinbase is waiving the conversion fees for users that wish to switch to a "trusted stablecoin" in a new campaign that highlights the quality of reserves that back Circle-owned USD Coin (USDC). Coinbase said starting today it's waiving fees for global retail customers to convert USDT to USDC.

"The events of the past few weeks have put some stablecoins to the test and we’ve seen a flight to safety," Coinbase said in blog post published Friday morning Asia time. "We believe that USD Coin (USDC) is a trusted and reputable stablecoin."

the centralized crypto exchange encouraged users to switch from USDT to USDC by waiving the conversion fees while highlighting the latter stablecoin as a “trusted and reputable digital dollar.”

In addition, Coinbase said that USDC is one of the most recognized Stablecoins since it is backed by “high-quality reserves,” stressing the utmost significance of stability and trust for clients. Many users seem to agree, as USDC’s market share has increased over the past year or two at the expense of USDT.

Switch to a trusted stablecoin: USD Coin (USDC). Now convert Tether (USDT) to USDC with zero fees.https://t.co/OObSqNWdpj

— Coinbase (@coinbase) December 8, 2022

Coinbase also reiterates that Grant Thornton LLP, one of the top audit, tax, and advisory companies in the United States, provides monthly attestations to show that USDC is transparent. The exchange wrote:

“USDC is unique in that it’s 100 ...

The post Coinbase Trashes Tether’s USDT asking Clients to Switch (NYSE:SWCH) to USDC appeared first on Coin Edition.

If you view Coinbase as a shadow proxy for the US government, USDC can be viewed clearly as an indirect attack vector on offshore crypto bad actors like Tether and Binance. Encourage large USDT to USDC conversions, redeem USDT for USD in large quantities, crash Tether.

— Mike Alfred (@mikealfred) December 9, 2022

So @coinbase has advised their customers to switch their $USDT to $USDC and @Binance basically delisted $USDC having a large majority of their assets in $USDT and $BUSD. The season finale is coming up soon. https://t.co/fq0AggQrhp

— LameFrogCapital (@LameFrogCapital) December 9, 2022

Coinbase issued an article calling for the conversion of USDT to USDC, and will waive the fees for global users to convert USDT to USDC. Previously, Binance delisted all USDC trading pairs, and the war between stablecoins and their supporters continues. https://t.co/QQDON1Fixs

— Wu Blockchain (@WuBlockchain) December 9, 2022

#USDC repeated failures at adoption, being delisted on #Binance and @Circle failing to go public meant that @coinbase had to come to the rescue.

You can now swap #USDT to #USDC for free!

But there is an issue: You can't swap USDC to USDT for free.

Stablecoins war returns! pic.twitter.com/vCmesUz9Oz

— Duo Nine | discord.gg/ycc (@DU09BTC) December 9, 2022

See above Tweets to know How Twitter User are reacting to it.