What is USDC? Learn what USDC is in one minute

USDC, a stablecoin pegged to the US dollar, is easy to transfer, store, and use across various wallets and exchanges due to its ERC-20 token status.

Oct 06, 2024 at 08:12 pm

What is USDC?

USDC is a stablecoin pegged to the value of the US dollar. Stablecoins are a type of cryptocurrency designed to maintain a stable value relative to a fiat currency, such as the US dollar, euro, or Japanese yen.

USDC was created by a consortium called Centre, which includes Coinbase and Circle. The issuer, Circle, is responsible for maintaining the peg to the US dollar and ensuring that there is enough USDC in circulation to meet demand.

USDC is an ERC-20 token, which means it runs on the Ethereum blockchain. This makes it easy to transfer, store, and use USDC with a variety of wallets and exchanges.

Benefits of using USDC

• Stable value: USDC is pegged to the value of the US dollar, which means its value is much less volatile than other cryptocurrencies.
• Easy to use: USDC is an ERC-20 token, which makes it easy to transfer, store, and use with a variety of wallets and exchanges.
• Widely accepted: USDC is accepted by a growing number of merchants and exchanges, making it a convenient way to make payments and store value.

How to buy USDC

USDC can be purchased on a variety of cryptocurrency exchanges, including Coinbase, Binance, and Kraken. When buying USDC, it is important to do your research and choose a reputable exchange.

How to store USDC

USDC can be stored in a variety of wallets, including hardware wallets, software wallets, and exchange-based wallets. When choosing a wallet, it is important to consider factors such as security, ease of use, and compatibility with different devices.