USD Coin

Imagine having something that allows you to have dollars in your bank account at the same time, and that amount will be digitized in your currency bank and your digital wallet. USD Coin (USDC) is a stable coin digital currency. The USD Coin, unlike many other digital currencies, has a fixed price relative to the US dollar.

USDC is supported in US dollars in a bank account. In other words, for every USD you have, an amount equivalent to one US dollar is automatically deposited in the bank. USDC is a reliable digital currency that is perfect for investing in the financial market and you will not have to worry about potential risks and fluctuations.

Strengths and weaknesses of USD Coin

Strengths

• Circle Organizational Support

• Has an experienced team of developers

• Optimal for USD based global trading

• Organized by the New York State Department and the Financial Crimes Enforcement Network

Weak points

• Coin's tough competition in a stable market

• Do not add too much value to your capital

• Involve the KYC process for purchase and redemption

History of USD coins

The USD Coin project is a stable coin with Fiat collateral, which was launched in 2018. This stable coin is a joint product of Circle Company and Coinbase Exchange.

The USDC is based on the understanding that unless full transparency and strong governance are guaranteed, market participants will not be able to trust the digital currency market. This was largely in response to Tether's baseless claim.

To solve this problem, the provider center publishes a monthly report of its Fiat reserves on its website and specific USDC issuance and redemption rules and regulations.

Until recently, this digital currency was provided by Ethereum and used only Ethereum as its native blockchain.

However, due to the continued slowness of Ethereum as well as other shortcomings, the center was forced to work with other blockchains such as Algorand.

As of January 2021, $ 4.7 billion was in circulation. The downside is that they can undermine government sovereignty. According to a report released in 2020 by the G7 source, Stable Coins could challenge the authority of central banks and affect the money supply.

Where can we buy USDC?

As a real buyer, you can buy this stable coin from the main and official exchange offices. However, it is much easier to buy USDC in some of the digital currency exchanges listed below. Needless to say, the Coinbase exchange is the best option.

The list of available exchanges includes:

• Binance

• Bitfinex

• Polonix

• Bitmart

• Liquid

• Bit z