USD coin (USDC)

USD coin (USDC)

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USD Coin Review


What is the USD Coin

CENTRE has embarked upon a community-driven mission to build an open financial system for the entire world, where everyone can enjoy the stability of the US Dollar, which is the world’s leading fiat currency.

The USD Coin allows unbanked and under-banked individuals in any country to hold a US dollar–backed asset, using only a mobile phone.

The USD Coin doesn’t require a bank account and using it is not restricted by your location.

It can easily be sent anywhere in the world at extremely low costs, with no intermediaries or permission needed.

USDC was created as a stable and useful form of digital money that would not swing from one value to the next based on volatile market movements.

This stablecoin runs on Ethereum, which is a decentralized, programmable blockchain that offers a huge range of apps and tokens.

It is backed by dollar-denominated assets, which are held in segregated accounts with US regulated financial institutions, and each USD Coin is always redeemable for 1 USD.


Who created the USD Coin

USDC was created by CENTRE, which is an open-source technology developed collectively by Circle and Coinbase.

Jeremy Allaire is the CEO, Chairman and Co-Founder of Circle.

Previously, he co-founded and led multiple global internet technology companies with thousands of employees who served millions of consumers, and ensured multiple successful public offerings on NASDAQ.

Brian Armstrong and Fred Ehrsam co-founded Coinbase, with Brian being its first CEO.

He attended Rice University in Texas, and has a dual bachelor's degree in economics and computer science, along with a master's in computer science.


How to buy USDC

The best way to buy USDC is through Coinbase.

Before you can convert USDC or other cryptocurrencies into USDC, you will need to have a Coinbase account.

You can easily search for USD and buy it.

After the USDC is credited to your account, you can transfer the tokens to any Ethereum wallet.


The USDC Coin

It is important to note that USDC cannot be mined but only minted.

Every time someone buys or converts currency and acquires USDC, a new coin is minted and a new dollar is added to the bank account behind USD Coin.

USDC is available as an Ethereum ERC-20, Algorand ASA, Solana SPL, Stellar asset, and TRON TRC-20 token.

It works with many ERC-20 compatible wallets and several popular cryptocurrency exchanges.

It has real-world use in global commerce and money transfers, and can also be useful be a valuable addition to your crypto portfolio.


Top 3 USDC Wallets

The Coinbase software wallet enables you to buy and store ERC-20 tokens, participate in airdrops and ICOs, collect rare digital art and other collectables, browse decentralized apps (DApps), shop at stores that accept cryptocurrency, and send crypto to anyone around the world.

The multi-asset Cоіnоmi wаllеt supports over 1,500 digital assets and guarantees high-level security and privacy fеаturеѕ, as well as an intuitive, beginner-friendly user іntеrfасе.

The Trustwallet software allows you to trade multiple cryptocurrencies safely, provides you with a secure access key to prevent unauthorized access, and also has multicoin support that enables you to purchase and swap thousands of coins and blockchain types.


Top 3 USDC Exchanges

USDC can be traded with several popular exchanges, including Coinbase, Binance and Poloniex, and the top trading pairs are currently USDT/USDC, BTC/USDC, ETH/USDC.


What we like about USD Coin

USDC guarantees stable values and prices because it is fully backed by USD assets that are reserved in segregated accounts with trusted financial institutions.

This coin is powered by Ethereum and it is an Ethereum token that can be stored in an Ethereum-compatible wallet.

It is designed to allow the global movement of dollars crypto wallets to other exchanges, businesses, and people.

Billions of people around the world are excluded from the global economy because they don’t have bank accounts.

USDC allows unbanked individuals in any country in the world to hold dollar-value assets, using a mobile phone and a digital wallet.

This digital coin has established a crucial link between traditional finance and the blockchain-powered open financial system by making a major breakthrough in the way money is used.

The USD coin has evolved into one of the largest stablecoins in the world and hundreds of companies, products and services support the USDC standard, which creates value for the entire blockchain ecosystem.