Circle an 2013 launched company just introduced with a new stable coin in the market named as “USD Coin.” Circle is a p2p payment technology company which aims to help individuals to use cryptocurrency who have never invested before. Circle offers platforms like Circle Invest as an investment platform & Circle Tade also knows as Poloniex as a trading platform.
USD coin is yet another stable coin introduced by Circle, and neither or less is just like Tether USD and True USD.
What is USDC?
Also know to be USD Coin, is an ERC-20 based token which works on the ethereum blockchain as part of a smart contract. The coin is a stable coin which means the price will remain constant.
It is fully collateralized fiat stable coin. With Circle, you can tokenize fiat currency into USDC and transfer it to compatible ERC-20 wallets and services. You can also transfer USDC into your Circle account and redeem USDC for fiat currency.
A stable coin is a cryptocurrency that is meant to be pegged to a stable asset like gold or other fiat currency.
The new coin USDC is termed as, Power of the dollar at the speed of crypto. Which deliberately can be used by the people as the stable coin with the power of crypto inside.
Using crypto with a stable side, which means that the price of the coin will remain constant, that is, equal to 1$.
How To Use USDC?
You can buy USDC from Circle’s official website by creating an account. The website allows you to buy USDC from fiat and vice versa. Once you signup the website will ask you for your verification details like phone number, tax information, etc.
You can also buy the token from any supportive cryptocurrency exchange; a list is given below.
Since it is an ERC-20 Token based on ethereum blockchain, anyone having ethereum address with token support capability can use and hold USDC.
User can exchange fiat money for the USDC from the official website and can transfer their tokens to any supportive ERC20 token wallet.
USDC can also be used as an intermediate in cryptocurrency exchanging. User can hold the USDC coin for stability.
Market Volume
Currently, the coin is holding market cap of $145M(~25K BTC) Volume in the initial stage and can raise as it catches the attention.
Total Supply of USDC is 142 Million Coins, which can be circulated.
The ranking of the coin on the crypto list is holding at 49th position are comparative to the market cap concern.
Cryptocurrency Exchanges Introducing USDC
USDC hold great opportunity for exchange-in cryptocurrency fast and reliable. User can use the power of crypto with the ease of stable price with it.
Many exchanges have come up with the introducing USDC on their platform subtly inviting the easy to use of buying crypto from the new token based platform.
Cryptocurrency Exchanges who introduced USDC
- Binance
- Coinbase
- Poloniex
- Bit-Z
- OKEx
- CoinEx
- Kucoin
- Korbit
- CPDAX
- Hotbit
- Fcoin
- BitMart
- Liquid
- Coinsuper
Wallets supporting USDC
- BitUn
- Trust Wallet
- Ledge
- imToken
- cobo
- CoolWallet S
- Elph
- Or any other ERC supportive wallet.
More info on USDC, refer to this official website
Know More about basics of cryptocurrency
Also Read
- Understanding DEX (Decentralized Exchange) and How to Use
- Ethereum Casper: Everything You Need to Know About
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