What is USDC and how does it work?

3 answers

• Dec 19, 2021 · 3 years ago
  USDC, short for USD Coin, is a type of stablecoin that is pegged to the value of the US dollar. It is an ERC-20 token built on the Ethereum blockchain, which means it benefits from the security and transparency of the Ethereum network. USDC is issued by regulated financial institutions and can be redeemed for US dollars on a 1:1 basis. It provides a stable and reliable digital currency option for users who want to avoid the volatility often associated with other cryptocurrencies. USDC can be used for various purposes, such as making payments, trading on cryptocurrency exchanges, and participating in decentralized finance (DeFi) applications.
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• Dec 19, 2021 · 3 years ago
  USDC is a digital currency that operates on the Ethereum blockchain. It is backed by real-world assets, specifically US dollars held in reserve by regulated financial institutions. This ensures that each USDC token is fully collateralized and can be redeemed for its equivalent value in US dollars. The transparency and stability of USDC make it an attractive option for users who want to transact in digital currencies without the risk of price fluctuations. USDC can be used for online purchases, remittances, and as a medium of exchange on various platforms and applications.
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• Dec 19, 2021 · 3 years ago
  USDC is a stablecoin that is widely used in the cryptocurrency industry. It was created by Circle and Coinbase, two well-known companies in the digital currency space. USDC is audited monthly to ensure that the amount of US dollars held in reserve matches the number of USDC tokens in circulation. This regular auditing process provides transparency and builds trust among users. USDC is supported by multiple cryptocurrency exchanges, including Binance, and can be easily traded for other cryptocurrencies or fiat currencies. It offers a convenient and secure way to store and transfer value in the digital world.
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