USDC
Reputation Ratings

USDC

USD Coin 5-10 years
Cryptocurrency
Website https://www.centre.io/usdc
Browser
OTH RELPs
White Paper
USDC Avg Price
+0.06%
1D

$ 0.9996 USD

$ 0.9996 USD

Market Cap

$ 36.6047 billion USD

$ 36.6047b USD

24h trading volume

$ 17.4202 billion USD

$ 17.4202b USD

7d Vol

$ 95.6109 billion USD

$ 95.6109b USD

Circulating supply

36.6075 billion USDC

Related information

Issue Time

2018-09-24

Platform pertained to

--

Current price

$0.9996USD

Market Cap

$36.6047bUSD

Volume of Transaction

24h

$17.4202bUSD

Circulating supply

36.6075bUSDC

Volume of Transaction

7d

$95.6109bUSD

Change

24h

+0.06%

Number of Markets

23023

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USDC Price Chart

Introduction

Markets

3H

+0.02%

1D

+0.06%

1W

-0.03%

1M

-0.11%

1Y

-0.09%

All

+0.06%

AspectInformation
Short NameUSDC
Full NameUSD Coin
Founded Year2018
Main FoundersCentre consortium (Circle and Coinbase)
Support ExchangesMany exchanges including Binance, Coinbase, Bitfinex, Kraken,Gemini, Crypto.com, OKEx, Huobi Global, Bybit, Gate.io etc.
Storage WalletMultiple wallets including Coinbase wallet, Metamask, Ledger, etc.
Contact methodsubpoenas@circle.com

Overview of USDC

USD Coin, or USDC, is a type of cryptocurrency known as a stablecoin. It was established in 2018 by the Centre consortium, a collaboration between the Circle and Coinbase platforms. USDC's aim is to maintain a stable value, closely tied to the US dollar, offering a one-to-one ratio. This cryptocurrency is supported on a wide variety of exchanges, including Binance, Coinbase, Bitfinex, and Kraken among others, allowing for broad accessibility. USDC is used for a variety of purposes, including participating in decentralized finance (DeFi) applications and purchasing non-fungible tokens (NFTs)

Additionally, USDC can be stored in a diverse range of wallets such as Coinbase Wallet, Metamask, and Ledger and so on. As a well-accepted stablecoin, USDC serves as a common choice for investors looking for stability in the volatile crypto market.

Overview of USDC

Pros and Cons

ProsCons
Stable value tied to USDNo capital growth due to stability
Wide acceptance on many exchangesDependent on trust in dollar value
Can be stored in multiple walletsRegulatory risks due to centralization
Useful for risk-averse crypto investorsMay not appeal to investors seeking high risk/reward

Crypto Wallet

Circle USD Coin Wallet is a secure and easy-to-use crypto wallet that enables users to store, send, and receive digital currencies, NFTs, and other blockchain-powered experiences. It also offers simplified global transactions with reduced costs, deeper customer engagement through unique NFT experiences, and a developer-friendly platform with familiar REST APIs, iOS and Android SDKs, and blockchain agnostic support.

Additionally, it provides flexible infrastructure options, operations monitoring, instant access with pay-as-you-go pricing, and a delightful Web3 user experience with familiar UX, simple access, advanced security, and gas-free transactions.

Crypto Wallet

What Makes USDC Unique

USD Coin (USDC) brings a unique innovation to the world of cryptocurrencies by being a “stablecoin”. Unlike many other cryptocurrencies, which are often characterized by high volatility, USDC maintains a stable value by being pegged one-to-one to the US dollar. For every USDC token in circulation, there is a corresponding US dollar held in reserve which ensures the stability of its value.

This design of USDC differentiates it from many other cryptocurrencies which have values driven by supply, demand, and market sentiments, leading to significant fluctuation. Instead, USDC's value stability provides an alternative for those looking for a digital asset with less exposure to price volatility.

Another distinct feature of USDC is its issuance and operation under the Centre Consortium, composed of Circle and Coinbase. While this joint venture ensures that operations and policies adhere to US regulations, it also implies a level of centralization distinct from many decentralized cryptocurrencies in the market.

What Makes USDC Unique

How Does USDC Work?

USD Coin (USDC) operates differently from traditional cryptocurrencies like Bitcoin that involve mining. Instead, USDC is what is known as an ERC20 token on the Ethereum blockchain, which means it does not require mining software, mining equipment, or a specific mining speed.

The creation (also known as 'minting') of new USDC tokens is not done through proof-of-work or proof-of-stake algorithms, but instead through a process managed by the Centre Consortium. So, there's no “mining” for new tokens as with Bitcoin or Ethereum.

When someone wants to acquire USDC, they deliver US dollars to a participating institution, which in turn mints an equivalent number of USDC tokens and delivers them to the user's Ethereum-addressed wallet. Similarly, the process to redeem USDC for USD is also handled through these approved institutions, which 'burn' the USDC tokens in exchange for delivering US dollars.

Because the process involves actual financial transactions with regulated entities, the processing time for acquiring or redeeming USDC can differ from transactions times of cryptocurrencies like Bitcoin that operate on mining and are dependent on block time and network congestion. The processing time can be faster or slower depending on a variety of factors, including the efficiency of the respective institution and verifications they may require for regulatory compliance.

Exchanges to Buy USDC

A wide variety of cryptocurrency exchanges support the buying and selling of USD Coin (USDC). These include Binance, Coinbase, Bitfinex, and Kraken among others. Each of these platforms caters to a broad global audience and offers user-friendly interfaces for seamless transactions. It's important for users to research and select an exchange that suits their specific needs, keeping in mind factors such as security features, transaction fees, user experience, and customer support.

Coinbase: Coinbase is one of the largest and most popular cryptocurrency exchanges in the world. It supports a wide variety of currencies, including USD, EUR, GBP, and CAD, and it allows you to buy USDC using these currencies.

See this link for details on how to buy USDC: https://www.coinbase.com/how-to-buy/usdc

Create an account on a cryptocurrency exchange that supports USDC.

There are many different cryptocurrency exchanges to choose from, so it is important to do your research and find one that is reputable and has a good track record. Some popular exchanges that support USDC include Coinbase, Binance, Kraken, and Gemini.

Deposit funds into your account.

Once you have created an account, you will need to deposit funds into it. You can do this by linking your bank account to the exchange or by using a credit card or debit card.

Buy USDC.

Once you have funds in your account, you can buy USDC. The process for doing this will vary depending on the exchange you are using, but it is generally a straightforward process.

Store your USDC in a secure wallet.

Once you have purchased USDC, you will need to store it in a secure wallet. There are many different types of wallets available, so it is important to choose one that is right for you. Some popular wallet options include hardware wallets, software wallets, and exchange-based wallets.

how to buy USDC

Binance: Binance is another major cryptocurrency exchange that supports USDC. It is known for its low fees and its wide variety of trading pairs. You can buy USDC using a variety of currencies, including USD, EUR, GBP, and BTC.

Kraken: Kraken is a well-established cryptocurrency exchange that is known for its security and its focus on institutional investors. It supports USDC and a variety of other cryptocurrencies. You can buy USDC using USD, EUR, GBP, and other currencies.

Gemini: Gemini is a regulated cryptocurrency exchange that is known for its compliance with US regulations. It supports USDC and a variety of other cryptocurrencies. You can buy USDC using USD or EUR.

Exchanges to Buy USDC

How to Store USDC?

USDC can be stored in various types of digital wallets that support ERC20 tokens, given that it is an ERC20 token on the Ethereum blockchain. Here are some types of wallets generally used:

1. Software Wallets: These are applications that can be installed on your computer or mobile device. Software wallets like Metamask and MyEtherWallet are widely used due to their user-friendly interfaces and security measures.

2. Online Wallets: These are wallets that can be accessed via a web browser. The Coinbase Wallet, for instance, allows users to store, send, and receive USDC directly on the web.

3. Hardware Wallets: They are physical devices designed to securely store cryptocurrency offline. Popular hardware wallets like Ledger and Trezor support USDC.

4. Paper Wallets: They involve printing out a wallet's public and private keys on a piece of paper. While they might not be as common for USDC storage, they provide an offline means of keeping cryptocurrency.

Is It Safe?

The safety of USDC (USD Coin) depends on a number of factors, including the security of the Circle platform, the backing of the USDC tokens, and the overall stability of the cryptocurrency market.

Security of the Circle platform

Circle is a regulated financial institution that is subject to a variety of oversight requirements. This means that Circle must take steps to protect its customers' assets, including USDC tokens. Circle has implemented a number of security measures to protect its platform, including multi-signature wallets, cold storage, and regular security audits.

Backing of USDC tokens

USDC tokens are fully backed by US dollars held in reserve accounts at reputable financial institutions. This means that for every USDC token in circulation, there is a corresponding US dollar held in a reserve account. This backing helps to ensure the stability of the USDC price.

Overall stability of the cryptocurrency market

The cryptocurrency market is still relatively young and volatile. This means that there is always a risk that the price of USDC could decline significantly. However, USDC is one of the most stable cryptocurrencies, and its price has historically been closely tied to the price of the US dollar.

How to Earn USDC Coins?

USDC can be a suitable option for a variety of individuals, including:

Those who participate in crypto trading and need a stable store of value to hedge against market volatility.

Users who want to move money across the globe swiftly and cheaply.

People who wish to own cryptocurrencies, but are cautious about the notorious volatility of the market.

Investors that want to earn interest on their holdings through various DeFi platforms that accept USDC.

FAQs

Q: What is the basic identification of USDC?

A: USDC, or USD Coin, is a stablecoin brought into existence in 2018 by the Centre consortium, which includes Circle and Coinbase.

Q: What is the primary attribute of USDC compared to many cryptocurrencies?

A: Unlike many cryptocurrencies that exhibit high volatility, USDC maintains a consistent value being pegged to the US dollar on a one-to-one basis.

Q: How does the creation and destruction of USDC tokens occur?

A: USDC tokens are minted when users deposit US dollars with an authorized institution, and burned (destroyed) when these tokens are redeemed for US dollars.

Q: Can you list some of the exchanges where USDC can be traded?

A: USDC is widely accepted on various exchanges, including but not limited to Binance, Coinbase, Bitfinex, and Kraken.

Q: What kinds of wallets are compatible with USDC?

A: USDC, being an ERC20 token, is compatible with various digital wallets like Coinbase Wallet, Metamask, and hardware wallets like Ledger.

Q: How does USDC differ from traditional cryptocurrencies like Bitcoin?

A: Unlike Bitcoin, which relies on mining and fluctuating market prices, USDC maintains a stable value tied to the USD and does not require mining for its creation.

User Reviews

More

34 ratings

Participate in evaluation
zeally
USDC is often used as a stable medium of exchange and a store of value in the cryptocurrency ecosystem. It is governed by a consortium known as the Centre, founded by Coinbase and Circle.
2023-12-19 19:01
6
Scarletc
USDC is widely used in the cryptocurrency space for trading, lending, and various other decentralized finance (DeFi) applications. Users often utilize stablecoins like USDC as a way to move funds quickly without the volatility associated with other cryptocurrencies.
2023-11-30 22:11
4
Dan3450
USDC is acknowledged as a pivotal tool in updating the financial system, gaining widespread adoption and trust, and becoming one of the stablecoins globally.
2023-11-28 20:57
9
Jenny8248
USDC serves as a reliable bridge between fiat and crypto, enabling easier transactions and fostering broader adoption within the digital asset space.
2023-11-24 20:54
9
Nguyen Khang
The USDC wallet is extremely secure, I am completely confident when sending $$$ to it. The transaction fee is also very low!
2024-01-18 09:19
6
zaki371
USDC is very reliagle exchnger safe to trade
2023-12-26 03:39
8
zaki371
this is usdc his very impotants i know that
2023-12-26 03:36
6
CJ002
USDc (USD Coin) - A type of cryptocurrency known as a stablecoin, which is pegged to the US dollar at a 1:1 ratio.
2023-12-21 23:17
9
Amir533
Because USD Coin is transparent, it is often regarded as the safer choice. Since the company's founding, its management has released reports attesting to its reserves
2023-11-22 20:55
1
Said ‎rehman ‎
btc 0.80
2023-06-05 18:52
1
BIT2170387702
the best token I want to invest
2023-05-12 06:21
0
Emilia Vizcarra
usdc is my stable way of doing investment extremely fast and reliable 💕💕
2022-10-27 21:59
1
BIT3907123815
interesting stablecoin in terms of value!!
2022-10-27 05:16
0
vwxyezet
will be big🚀
2022-10-25 07:46
0
winnih
good USDC🚀🚀🚀🚀
2022-10-24 13:10
0
maricelbenlot
how to join
2022-09-16 18:29
0
Dory724
Stablecoin backed by real USD. Reliable for trading and stability, but doesn't offer speculative gains like other cryptos.
2023-11-06 05:32
0
Bert214
Nice 👍
2023-04-21 12:19
0
Finay
good
2022-12-10 16:38
0
jhon8753
nice nice nice
2022-12-07 11:42
0

View all comments

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