It allows you to spend on everyday purchases while using your crypto as collateral, instead of selling it. 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 your gateway to DeFi and help keep your portfolio safe from the crypto market’s volatility. Created by Centre Consortium, USD coin was a joint venture between Circle and the popular exchange Coinbase.
Choose a Crypto Exchange
Offer customers greater financial stability by enabling them to access digital dollars around the world. Just because USDC might be perceived as a safer, more credible port to ride out the stablecoin storm than other coins, current economic conditions should be considered. And, of course, you can also use your USDC in the traditional sense to buy other cryptocurrencies. You can earn appreciable interest on your USDC, substantially higher than the typical online savings account.
USDC (USDC) Price & Market Data
USD Coin is a stablecoin built on the Ethereum (ETH) blockchain. Like other collateralized stablecoins, USD Coin’s value is pegged to the U.S. dollar. That means that one USDC should ideally always be worth one dollar.
- Deloitte & Touche LLP is Circle’s independent auditor and has audited Circle’s financials since fiscal 2022.
- Our team is diligently working to keep up with trends in the crypto markets.
- Get the most cost-efficient price across the top 10 crypto exchanges worldwide.
- They’re allowed to review their cumulative Profit and Loss (PnL) performance without any disruption to the user experience.
- Confirm details with the provider you’re interested in before making a decision.
- You can earn yields ranging from 10 to 14 percent per annum by lending your USDC via various decentralized finance (or DeFi) applications without facing price volatility.
Best Exchange for USD Coin
Circle is backed by several high-profile companies, including Goldman Sachs. The Centre consortium also sets technical policy and financial standards for the stablecoin. Check out PennyWorks to earn high yields how to buy usdc through low-risk digital asset lending. Similarly, when a business wants to exchange their USDC for US dollars, the business can deposit USDC into their Circle Mint account and request to receive US dollars.
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. The bottom line is that USDC is beneficial for all crypto users, as it has a stable dollar-linked value combined with the advantages of blockchain technology. The Ledger Nano S is a multicurrency wallet so that you can store all your cryptocurrencies in one place. 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. Ledger is a trusted hardware wallet brand among many cryptocurrency investors. The company has been selling cryptocurrency wallets since 2014, and their wallets have never been hacked.
Best USDC wallets to store your USDC
Coin Insider is the authority on bitcoin, ethereum, ICO and blockchain news; providing breaking newsletters, incisive opinions, market analysis, and regulatory updates. Compare USDC pairs across exchanges to get the best price for your portfolio. Get the most cost-efficient price across the top 10 crypto exchanges worldwide. USDC can be transferred 24/7 and is faster to send than traditional currencies, with settlements occurring in seconds. Transaction costs are low cost, making it cost- and time-efficient to use.
Additional disclosures can be found on the Legal and Privacy page. Coinbase is the largest exchange in the US, with over 98 million verified users in over 100 countries and approximately $256 billion in assets. Coinbase allows you to trade more than 130 types of cryptocurrency. The exchange is user-friendly, has professional customer support, and is one of the most secure cryptocurrency exchange platforms. Moreover, Coinbase has partnered with Circle to launch the USDC stablecoin, which is fully collateralized by U.S. dollars and available for trading. Coinbase doesn’t charge any fees for purchasing USDC with USD and gives you an equivalent amount of USDC for your USD.
This is a better option for most retail investors, as there are much lower fees, however, USDT is a much more common in crypto/stablecoin trading pairs. Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services. We may also receive payment if you click on certain links posted on our site.
- Meanwhile, USDC’s value has stayed relatively stable over its life, although there may be some short-term volatility during extreme market periods, Manoppo says.
- If you’re keeping score, currently, there are roughly 19 million Bitcoins in the marketplace.
- Cryptocurrencies are speculative and investing in them involves significant risks – they’re highly volatile, vulnerable to hacking and sensitive to secondary activity.
- To earn crypto rewards, make sure the ratio of NEXO Tokens in your account against the rest of your portfolio is at least 1%.
- USD Coin was launched in 2018 by Centre, a consortium founded by Circle and Coinbase.
- USD Coin (USDC) is a stablecoin designed to keep a constant one-to-one value with the U.S. dollar.
But there are challenges to having an asset’s value defined only by people’s perceptions, as demonstrated by Bitcoin’s volatile nature. You can even view monthly reports of these reserve balances, including how much USDC is in circulation and its equivalent value in U.S. dollars. You must navigate to the sign-up page and fill in the basic details like your name and email address. To complete the process, you must verify your email address by clicking the verification link sent to your email.
