Offer customers greater financial stability by enabling them to access digital dollars around the world. Investing in a stablecoin like USD Coin (USDC) in a bear market can be one of the smartest decisions you can make in your crypto journey. It can be how to buy usdc your gateway to DeFi and help keep your portfolio safe from the crypto market’s volatility. One of the significant advantages of USDC is that, unlike regular U.S. dollars, it does not require a bank account and isn’t limited to a particular geography.
Choose a Crypto Exchange
Circle is backed by several high-profile companies, including Goldman Sachs. The Centre consortium also sets technical policy and financial standards for the stablecoin. US Dollar Coin (USDC) is a stablecoin – a cryptocurrency token pegged to the value of a real-world asset, the U.S.
How to Buy USD Coin: Where, How, and Why
And, of course, you can also use your USDC in the traditional sense to buy other cryptocurrencies. That recent move now means either one dollar or asset-equivalent backs every USDC. Similar to concerns made about Tether, USDC was flagged last year for not backing each USDC with an asset or dollar equivalent. Our team is diligently working to keep up with trends in the crypto markets. Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3.
Kroger-Albertsons merger: 3 key court dates to watch
- Trading and converting your USDC is much easier than onboarding actual U.S dollars into the cryptocurrency market.
- It was created to be a regulated stablecoin that “works within U.S. money transmission laws and regulations” while running on blockchain technology.
- Like other collateralized stablecoins, USD Coin’s value is pegged to the U.S. dollar.
- Launched in late 2018, USDC is designed to maintain a stable value unlike other typically volatile cryptocurrencies.
- This process of redeeming USDC is known as “burning.” This process takes USDC out of circulation.
USD Coin was launched in 2018 by Centre, a consortium founded by Circle and Coinbase. It was created to be a regulated stablecoin that “works within U.S. money transmission laws and regulations” while running https://www.tokenexus.com/ on blockchain technology. First, we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site.
- The Centre consortium also sets technical policy and financial standards for the stablecoin.
- While most CBDCs are only in the research phase, USDC exists today and is widely used by millions of people around the world.
- Holding the private keys gives you access to your crypto, like holding a pin code to your debit card; in short it gives you access to your funds.
- To buy USDC on Coinbase, you must create an account on the platform’s website or the Coinbase app that can be downloaded from Apple and Android stores.
- Centre Consortium then puts this cash into its reserve, ensuring that $1 of USDC can be exchanged for $1 at any time.
- To create an account on any cryptocurrency exchange you will need an email address.
A few lending programs will pay you interest for lending your USDC. But of course, no investment is risk-free, and you are taking a little bit of risk on borrowers in gaining a yield on USDC. Purchasing USD Coin won’t generate any returns for investors, as it is intended to be a stablecoin.
Why consider a hardware wallet when buying crypto
Increasing some transparency, accounting firm Grant Thornton audits those accounts and posts monthly draft attestation reports accessible to the public. To get an idea of where the cryptocurrency market is headed, watch the price movements of major cryptos like Bitcoin and Ethereum. USDC has been used as a substitute for U.S. dollars on major exchanges, such as Coinbase, Kraken, Binance, Poloniex and Gemini.
- However, the benefits of buying this cryptocurrency are more about how useful it is rather than how much money you can make from an increase in price.
- USDC provides customers with a fast and cost-effective way to transfer value quickly anywhere in the world.
- The lowest trading price that USDC has fallen to within the last 52 weeks is $0.995, a slight dip below its dollar peg.
- USD Coin (USDC) is a stablecoin pegged to the value of 1 U.S. dollar, so it makes it easy to sell your crypto assets for virtual fiat currency.
- A cryptocurrency exchange is an online marketplace where you can buy and sell crypto.
- Purchasing USD Coin won’t generate any returns for investors, as it is intended to be a stablecoin.