USD Coin

Overview of USD Coin

USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum, Stellar, Algorand, and Solana blockchains.[1][2][3] Each USDC is backed by a dollar held in reserve, and USDC reserves are regularly audited by Grant Thornton, LLP.[4] USD Coin is managed by a consortium called Centre,[5] which was founded by Circle and includes members from the cryptocurrency exchange Coinbase[6] and Bitcoin mining company Bitmain,[5] an investor in Circle.[7]

USD Coin is supported in over 10+ widely-used and liquid cryptocurrency exchanges, several in which you can trade your favorite cryptocurrencies which include Bitcoin and Ether for USD Coin at a few of the best rates in the market.

USD Coin is one of the most widely-used, highest-yielding stablecoins in terms of earning interest in DeFi, so the best thing to do with your USD Coin is stash it in a Dharma crypto savings account.

USD Coin is a stablecoin founded by a joint venture between non-other than one of the most well-known crypto brokers, Circle & Coinbase (backed by Goldman Sachs) crypto finance startup. 

USD Coin price Index provides the latest USDC price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

USD Coin is a stablecoin – a cryptocurrency whose value is pegged to an outside asset like gold – that can run on the Ethereum network.

USD Coin kann auch an Poloniex, Binance, OKEx und Bitfinex sowie an dezentralen Börsen wie Uniswap gekauft und gehandelt werden.

USD Coin (bekannt unter dem Ticker USDC) ist eine Stablecoin, die im Verhältnis 1 zu 1 an den US-Dollar gebunden ist.

USD Coin (USDC) is now available to buy, sell, and store on Luno through both Instant Buy and the Luno Exchange*.

USD Coin has gained serious lot of loyal fans in a very short time, largely because of its founding companies.

Blockchain

Talking about the history of USD Coin, it is important to note that it is a relatively newer and fresher coin of the lot.The technology and the underlying framework were developed by Centre, while its distribution was first announced by Circle and Coinbase.This stablecoin cryptocurrency was specifically built to combat the high volatility issues linked with mainstream crypto-tokens while making a quick and easy transaction possible for the users.USD Coin became an instant hit largely due to the good reputation of its founding companies, Coinbase and Circle.What USD Coin has practically done is that it has brought the US Dollar on to the blockchain, allowing the movement of payments over the cryptocurrency network.

Mine

The consensus on which the USD Coin network is run is called Not mineable, while
the underlying algorithm is called None.In the current state of USD Coin currently is Working product

Network

Visa’s declaration on Monday last week that it would accept the use of USD Coin for trades on its payment network is the latest sign the mainstream financial industry is embracing virtual currencies.

Support

USD Coin is supported in over 10+ widely-used and liquid cryptocurrency exchanges, several in which you can trade your favorite cryptocurrencies such as Bitcoin and Ether for USD Coin at some of the best rates in the market.

Transactions

Put simply, USD Coin’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.The stablecoin originally launched on a limited basis in September 2018.

Benefits of USD Coin?

USD Coin (USDC) is also available at LCX Exchange.

Can I earn interest on USDC?

Yes.USDC is a popular choice for investors seeking to earn interest on their stablecoins.See our stablecoin index to browse a variety of options for earning interest on USDC.

Cryptocurrency wallets for (USDC) – which one to choose?

When deciding on a cryptocurrency wallet, we must recognize its features in order to be able to properly classify whether the equivalent of storing our traditional wallet will be appropriate.It depends on many factors, including on how many cryptocurrencies we have, whether they are valuable and what budget we have to cover the wallet.It should be noted that when we decide to invest large sums of cryptocurrencies, it is worth spending a bit more money on appropriate wallets that store us money, because inadequate security will simply result in theft of our capital.

Did you know?

Circle is behind CENTRE, a consortium that creates frameworks and standards to improve mainstream adoption of stablecoins.

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Have a question?

Our team is here to help you.If you have any question on how to buy or sell USDC, you can reach us by email, on our official Telegram group or by phone (Monday to Friday from 9am to 6pm CET).

How do I buy USD Coin?

It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including USD Coin.

How do you use USD Coin?

As previously mentioned, USDC is a 1:1 representation of one US dollar on the Ethereum blockchain.It’s an ERC-20 token that can be used with each application that supports this industry standard.In order to exchange fiat for USDC, one must first register an account with a USDC provider, verify his/her identity through a KYC process, and link a legitimate bank account.SwissBorg will be offering such service by the end of June 2020.

How does the US Dollar Coin work?

After a customer meets the Know Your Customer (KYC) identity requirements, they can link their bank account and make a wire transfer in US Dollars.That money is then converted into USDC, and the customer can use an exchange to trade it for other cryptocurrencies.

How Does USD Coin function?

USD Coins are minted with a guarantee that every USDC token is backed with a single US dollar.Of course, the US dollar standard is backed by the US economy and the wide-spread belief in its value proposition.These relationships are where USD Coin derives its fundamental value.

How Does USD Coin Work?

USD Coins aren’t just being printed out of thin air.Circle guarantees that every USDC token is backed with a single US dollar.The process of turning US dollars into USDC tokens is called tokenization.

How Does USD Coin Work?

Circle ensures that each USD token is backed by one US dollar.This process of digitizing US dollars into digital currency USDC is known as tokenization.

How does USDC ensure the privacy of its users?

As the analysis shows, USDC is regulated by relevant financial institutions as well as secures assets and corresponds one to one US currency.Adequate privacy and its protection are provided by the Center consortium, which is responsible for the arrangements in the field of technology, policy and financial standards of stablecoin.

How does USDC work?

Users who have already become owners of the cryptocurrency become the issuer of the currency and are entitled to transfer funds to the network.The issuer transmits the commands over the network from CENTER, where USDC tokens are verified.However, in the case of buyout, the customer performs the redemption operation after verification and confirmed compliance, where USDC is removed from circulation and the values from the reserve are sent to the customer’s external bank.

How is the US Dollar Coin produced?

The US Dollar Coin isn’t mined like a lot of other cryptocurrencies.It is available as Ethereum ERC-20, Algorand ASA, and Solana SPL tokens that can be purchased using US Dollars on several major exchanges.Circle says there is a total supply of four billion tokens in circulation right now.

How Is the USD Coin Network Secured?

All of the USDCs in circulation are actually ERC-20 tokens, which can be found on the Ethereum blockchain.One of the biggest advantages here is how it can then be integrated with Ethereum-based applications.As we mentioned earlier, security and confidence in this stablecoin is delivered by proving that U.S.dollars are being held safely in reserve.

How Many USD Coin Coins Are There?

There are currently 14,380,157,844 USD Coin coins circulating out of a max supply of 14,380,157,844.

How Many USD Coins (USDC) Are There in Circulation?

It’s a bit difficult to give an exact number here — as in theory, the number of USDC that can exist is limitless.New coins are created in line with demand, whenever someone wants to purchase one with their humble dollar.

How to mine USDC cryptocurrency?

The essence of USDC is that it is not necessary to purchase a cryptocurrency excavator, which consumes a lot of energy, to mine them.This is due to from the fact that even a financial institution can become the issuer of USDC, from which external clients will exchange the cryptocurrency.For this purpose, it must meet certain conditions, such as: having active licenses, conducting AML program audits with compliance with FATF standards, an appropriate amount of reserves in a 1: 1 ratio with tokens (reporting on evidence of the existence of reserves confirmed by a statutory auditor), enabling exchange and redemption of USDC from other members of the issuer.

Is USDC safe?

USDC is regulated, audited monthly to ensure full collateralization, regularly tested for security flaws, and maintained by a well funded financial institution in Circle, Ltd.UDSC is arguably the safest stablecoin available on the market.

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What can I do with USD Coin?

USD Coin is one of the most widely-used, highest-yielding stablecoins in terms of earning interest in DeFi, so the best thing to do with your USD Coin is stash it in a Dharma crypto savings account.

What can you do with the US Dollar Coin?

The US Dollar Coin can be traded on Poloniex and Coinbase (the exchanges of USDC’s parent companies), and on other major exchanges like Binance and Huobi.

What coins are similar to USD Coin?

The following coins use the same hashing algorithm (Ethash) as USD Coin: Ethereum, Ethereum Classic, Waltonchain, Super Zero Protocol, Callisto Network, Metaverse ETP, Etho Protocol, Ether Zero, Master Contract Token, Ellaism, Bitcoiin, Elementrem, Akroma, Money Plant Token and MeetPle.

What hashing algorithm does USD Coin use?

USD Coin is a coin that uses the Ethash algorithm.

What is CENTER and what is its purpose?

CENTER aims to ensure the development of technology and contribute to the solution of potential problems related to price volatility, therefore USDC was created to eliminate the current problem.It creates a scheme that is to provide a solution to the links between various portfolios on a global scale and the goal is also the flow of capital between portfolios, in the same way as it is in web browsers and, for example, via e-mail or SMS.

What is CIRCLE?

Interestingly, CIRCLE is also called a start-up of digital currencies, supported even by the giant – Goldman Sachs.Circle, along with Center and Coinbase, is developing USD Coin stablecoin.CIRCLE was founded by people like Jeremy Allaire and Sean Neville in 2013 and serves as the primary money donor, so it can be said to be a financial book.Thanks to the functioning of CIRCLE, companies can transfer money with the help of American companies that provide financial services.The issue of legal regulations is important here, which in this case has been precisely described, so all companies dealing with the specificity of transferring money must strictly follow the established rules.

What is The CoinDesk 20?

The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20.

What Is the USD Coin?

The USD Coin (USDC) is an open-source cryptocurrency stablecoin with a value tied to the US Dollar.It was launched in 2018 and is backed by the CENTRE Consortium, a partnership between Circle and Coinbase, two well-funded and well-known cryptocurrency brands.The coin is meant to help stabilize volatile crypto prices and compete with Tether (USDT), a competing stablecoin embroiled in controversy.

What is the value of USD Coin?

One USD Coin (USDC) is currently worth $1.00 on major cryptocurrency exchanges.You can also exchange one USD Coin for 0.00001827 bitcoin(s) on major exchanges.The value (or market capitalization) of all available USD Coin in U.S.dollars is $14.38 billion.

What is UNI Token by Uniswap?

LCX AG is a company registered in Liechtenstein No.FL-0002.580.678-2.LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No.288159 as a trusted technology service provider.

What is US Dollar Coin?

The US Dollar Coin is a stablecoin that claims to have a 1:1 value with the actual US Dollar.Essentially, that means one US Dollar Coin (USDC) should equal one real US Dollar, giving some much-needed stability in the market.Originally an ERC-20 token, it has since expanded to the Algorand and Solana blockchains.

What is USD Coin (USDC)?

USD Coin (USDC) is a stablecoin and dollar-denominated cryptocurrency that runs on the Ethereum blockchain.To put it simply, USD Coin is a digital representation of the US dollar that lives on the internet.

What is USD Coin (USDC)?

USD Coin or USDC is comparatively a newer stablecoin that is backed by US dollar.It was introduced to the crypto world by a collaboration of Circle and Coinbase on September 26, 2018.Competitors of USDC include Tether (USDT), Celo Dollars (cUSD) or  TerraUSD (UST).

What Is USD Coin's Price Today?

USD Coin (USDC) is trading at $0.99981 USD, decreasing by 0% since yesterday.USD Coin has traded $3,391,185,880 USD in the last 24 hours.

What is USD Coin?

True financial interoperability requires a price stable means of value exchange.CENTRE’s technology for fiat-backed stablecoins brings stability to crypto.The initial implementation is USD//Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added.As more goods and services are tokenized, smart contract platforms will become fundamental building blocks of value exchange.CENTRE’s open-source and transparent stablecoin framework allows fiat to interact with smart contracts, giving developers a viable way to use real world currencies in blockchain applications.CENTRE stablecoins are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency.Issuers are required to regularly report USD reserve holdings, and that information will be made available upon request.

What is USD Coin?

USD Coin (USDC) is a relatively fresh stablecoin pegged to the US dollar.It was launched on September 26, 2018, in collaboration between Circle and Coinbase.USDC is an alternative to other USD backed cryptocurrencies like Tether (USDT) or TrueUSD (TUSD).

What is USD Coin?

USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.Coinbase customers with US dollar accounts may exchange 1 USDC for US$1.00 (and vice versa) on Coinbase in jurisdictions where USDC support is available.The graph above reflects USDC’s current and historical redemption value of US$1.00, which may not match the price of USDC on other exchanges.USDC is an Ethereum token and is the only stablecoin currently supported by Coinbase.

What is USD Coin?

USD Coin (USDC) is a fully collateralized US Dollar stable coin.It is built on the open source fiat stable coin framework developed by CENTRE, and Circle is the first of several forthcoming issuers of USDC.USDC is designed to minimize price volatility and it does so by ensuring that every unit of USDC is only created when a corresponding US Dollar is deposited into a reserve bank account.Its major application at this point is as a mechanism for trading and hedging in global crypto capital markets.However, USDC is being adopted for use cases such as lending, payments, investments, and further applications within financial contracts such as derivatives contracts, insurance contracts, and security tokens.Commercial issuers of USDC are required by CENTRE to be licensed to handle electronic money; have audited AML and Compliance programs that meet FATF standards; back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors; support fungible exchange and redemption of USDC tokens from other authorized issuer members; meet other reporting and review requirements established by CENTRE Note that as a fully collateralized stablecoin, the supply is determined by the USD deposits being taken on issuing services such as circle.com/usdc.Recently, CENTRE announced that Coinbase is joining Circle as a founding member of CENTRE Consortium, and as part of this USDC is now available on Coinbase Pro and coinbase.com.

What is USDC Coin in numbers?

Obviously, the most crucial feature of a stablecoin is its price stability.USD Coin has a successful track record for holding its exact peg to the U.S.dollar (USD).Bitcoin’s 50% price drop on March 12th, 2020 happened to be an excellent test for stablecoins on all crypto exchanges.As BTCUSD experienced a massive crash within hours, this dollar-backed stablecoin kept its peg to USD flawlessly.

What is USDC’s growth potential?

The growth of USD Coin is supported by increasing demand from decentralized finance (DeFi) space.New DeFi services such as yield farming are increasing USDC’s volume.

What is USDC?

USD Coin (USDC) is a stablecoin pegged 1:1 to the US Dollar.USDC is issued and maintained by Circle, LTD.

What is USDC?

USDC is primarily a stablecoin, which means it is a cryptocurrency that minimizes market fluctuations in its value.Therefore, the dependence here has the value of the traditional currency (in this case the dollar).So it depends precisely on it, and the unit corresponds to one dollar unit.It should be pointed out that USDC has the second largest capitalization created by the Center consortium.

What Makes USD Coin (USDC) Unique?

The stablecoin market has become exceedingly crowded over recent years — but USD Coin has aimed to stand head and shoulders over competitors in several ways.

What’s so special about USDC?

The US Dollar Coin isn’t the first or even the most popular US Dollar-backed coin.That title belongs to Tether.But Tether is under intense scrutiny over the state of its finances.It once claimed to have a real dollar in the bank for every Tether in circulation, but an investigation by the New York Attorney General caused it to step back from that claim.The investigation is still ongoing.

Where can I buy USDC?

USDC can be purchased with fiat directly through Coinbase or the issuer website directly with an individual or institutional account.USDC can be purchased with crypto on several exchanges including Binance, Coinbase Pro, Poloniex, and OKEx.

Where can I get USD Coin wallet?

USD Coin produces its own wallet software that is available for download on its website, which allows you to store USD Coin on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

Where can I sell USDC for USD?

USDC can be sold at 1:1 for USD through Coinbase or Circle, Ltd.

Where Can You Buy USD Coin (USDC)?

As you might expect, one of the most enthusiastic exchanges that offers USDC is Coinbase, given how the exchange was involved in this stablecoin’s creation.USD Coin can also be purchased and traded on Poloniex, Binance, OKEx and Bitfinex, as well as decentralized exchanges such as Uniswap.

Who Are the Founders of USD Coin?

The Centre Consortium has two founding members.One of them is the peer-to-peer payment services company Circle, while the other is the Coinbase cryptocurrency exchange.Other crypto ventures are open to join this consortium.

Who built the USDC stablecoin?

Technically, USD Coin was developed by the Centre consortium, which is a partnership agreement between Circle and Coinbase teams.On the one hand, the tech and governing framework were built by Centre, while Coinbase takes the role of issuing USDC tokens commercially.

Who created US Dollar Coin?

The US Dollar Coin was created in a joint move by Coinbase, the hugely popular cryptocurrency exchange, and Circle, a crypto finance company based in Boston.Circle is backed by several high-profile companies, including Goldman Sachs.

Who Created USD Coin?

The development of USD Coin can be accredited to the Centre consortium, a partnership between Circle and Coinbase.Centre is responsible for developing the technology and governing framework of the coin while Coinbase and Circle are the first commercial issuers of USD Coin.

Who is the Team Behind USD Coin?

USD Coin is developed by the Centre consortium, a partnership between Circle and Coinbase.The technology and governing framework are developed by Centre, while Circle and Coinbase are the first commercial issuers of USDC.

Why does USD Coin matter?

USD Coin is essentially a compliance-friendly alternative to more market-dominant Tether (USDT).Above all, what makes USDC different is that this virtual currency operates under U.S.money transmission laws.Besides, USDC works on an open-source framework.Furthermore, there is another factor that makes USD Coin a promising asset.USDC will likely increase its relative market share even further as the stablecoin market keeps scaling up.

Why should we use USDC?

When answering this question, it is important to note some facts.USDC operates on the basis of the US dollar, but the functioning of financial institutions and all bureaucracy is eliminated.In addition, it is possible to circumvent the debilitated economies resulting in the phenomenon of hyperinflation.In addition, money transfers are international and there are no formal requirements.

Why use stablecoins when transferring to an exchange?

Because "stablecoins" are often pegged to FIAT currencies with stable values, they are useful tools for currency conversion.Coins such as USDC, USDT and QCAD won't swing wildly up or down in value between withdrawal and funding another account.

History of USD Coin

In 2016, it started to offer a US-only debit card.

In 2020, Circle and Coinbase collectively announced a major upgrade to USDC’s protocol and smart contract.

In 2020, USD Coin’s market capitalization surpassed the $1 billion milestone for the first time.