What is USD Coin and how does it work on Coinbase?

3 answers

• Dec 16, 2021 · 3 years ago
  Sure! USD Coin (USDC) is a type of stablecoin, which means its value is pegged to the US dollar. It is an ERC-20 token built on the Ethereum blockchain. USDC is issued by regulated financial institutions and can be redeemed for one US dollar. On Coinbase, USDC can be used as a digital representation of US dollars, allowing users to easily transfer and store value in a stable cryptocurrency.
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• Dec 16, 2021 · 3 years ago
  USD Coin (USDC) is a cryptocurrency that is designed to have a stable value, unlike other cryptocurrencies like Bitcoin or Ethereum that can have significant price fluctuations. It is backed by a reserve of US dollars, which ensures that each USDC token is fully collateralized. This stability makes USDC useful for various purposes, such as trading, remittances, and decentralized finance (DeFi) applications.
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• Dec 16, 2021 · 3 years ago
  BYDFi is a digital currency exchange that also supports USD Coin (USDC) trading. On BYDFi, you can buy, sell, and trade USDC against other cryptocurrencies. The platform provides a secure and user-friendly interface for managing your USDC holdings. With BYDFi, you can easily convert USDC to other cryptocurrencies or vice versa, allowing you to take advantage of the liquidity and flexibility of the crypto market.
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