This is made achievable by the blockchain utilising your crypto or stablecoin to verify and secure transactions without the intervention of a bank or payment processor. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods.
The other reason to buy USD coin is to earn rewards on Coinbase. Our calculator works out how much USDC would be worth in USD and GBP, depending on how much you hold or are looking to purchase. Our charts below show you USDC’s performance over time as well as its all time high. Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator.
How to Buy USDC
USDC was initially launched on Ethereum and has since expanded to 14 blockchains, including Tron and Algorand. Other stablecoin providers like Tether lack proper financial and operational https://www.tokenexus.com/ oversight and transparency. USDC, on the other hand, provides detailed financial and operational transparency, operating within the regulated framework of US money transmission laws.
- USD Coin is the currently the second-largest stablecoin, with a current market capitalization of $73 billion.
- Before buying USDC, you may want to check the market conditions.
- “Centre works with auditors and government regulation with a transparent and clear description of the reserves available to back the peg to the U.S. dollar,” Bumbera says.
- Currently, the UK’s Financial Conduct Authority (FCA) does not restrict the use of USDC or other stablecoins.
- Coinbase has a dedicated wallet application that’s great for storing your cryptocurrency.
Investing in USDC would be like stashing U.S. dollars under your mattress, and your investment would never be worth more than the equivalent cash. As of May 2022, Circle announced that the company would provide weekly attestation reports. They help build trust in USDC, as they disclose the precise amount of actual funds backing the stablecoin. The year-to-date return on Bitcoin is -35% as of this writing, for example.
Is USDC Better than USD?
Supply, demand, availability, competing cryptocurrencies, and investor sentiment are key indicators of USDC’s utility. Swap any asset for USDC with zero fees and fixed-price execution on Nexo’s Crypto Exchange. The coin is also susceptible to external influences—when Silicon Valley Bank collapsed, it became apparent that about 8% of USDC reserves were held at the bank, causing the coin to lose its peg.
Using the “pro” version on an exchange will cut down on fees, usually by converting your trade from a high flat fee (expensive for small trades) to a percentage of your trade (cheap for small trades). Yes, you can buy USDC (USD Coin) through various cryptocurrency exchanges in the United Kingdom, abiding by the nation’s financial regulations. The founders of Binance, Changpeng Zhao and Yi He, led it towards becoming the biggest crypto exchange platform in the world. It has the most significant trading volume of $76 billion and has over 90 million users globally. The platform has become a trustworthy exchange platform and provides access to over 350 digital tokens. We may receive compensation from our partners for placement of their products or services, which helps to maintain our site.
Where to buy USDC in
Now that you know how to buy USDC you need to learn how to store it safely. Unlike Tether (USDT), there’s no question that USDC has each and every token backed by $1 of collateral in its reserves. It should be noted that this collateral does not have to be in the form of US Dollars, certain other types of debt are deemed valid by regulators. With increased skepticism about Tether’s USDT backing, USDC may be a more secure alternative. Visa recently announced its plans to settle transactions in USDC on Ethereum’s blockchain, which is huge news for Ethereum’s network becoming more practical. Users take many variables into consideration when deciding how much USD Coin to buy.
We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. USDC (USDC) is a cryptoasset that currently ranks as the 7th largest by market cap (that’s the total value of USDC in circulation – $25.4 billion). Our how to buy usdc goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. USDC (USDC) is in the top 1,000 cryptocurrencies by market cap, valued at $25,391,616,321. When buying USD Coin, factor in your financial goals and see if the risks make it the right buy for you.
You can buy fractions of USD Coin just like you can divide U.S. dollars into pennies. You can purchase as little as 0.001—equal to one-tenth of a cent—of USD Coin. The accounting firm Deloitte oversees these segregated accounts and provides monthly attestation reports.
Stablecoins are a critical part of the decentralized finance ecosystem. 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. It has been difficult to buy USDC until recently because it wasn’t offered by many of the top exhcanges. First, you need to set up an account on your choice of crypto exchange platform, listing USDC.
What Can You Do with Your USD Coin?
CENTER has also partnered with the likes of Signature Bank and Visa for added transparency. USDC was created by Centre Consortium, a joint venture between Coinbase and Circle – aimed at increasing mainstream adoption of fiat stablecoins. USDC operates by minting new coins when a user buys them with the USD from an exchange like Coinbase. Centre Consortium then puts this cash into its reserve, ensuring that $1 of USDC can be exchanged for $1 at any time.
