What is USDC and what are the benefits?
USDC is a fiat-backed stablecoin, which means it is backed by reserves in the traditional financial system. In the case of USDC, it is backed by cash and short dated US treasuries, held in regulated US financial institutions.
USDC is designed to be pegged to the US dollar.
How does US DC maintain its peg?
If you buy one USD Coin using fiat currency, then that currency is deposited and stored as one US dollar in an account at a traditional financial institution and the new USD Coin is minted.
If you sell one USD Coin in exchange for fiat currency, then the USDC is burned when the fiat is transferred back into your bank account. The goal of stablecoins,
like USD Coin is to make crypto payments via the blockchain more reliable by reducing price volatility.
The benefit of USD Coin is that it is designed to be pegged to the US dollar. Whether you want to store USD Coin in your Coinbase wallet, send it to a friend or interact with decentralized financial tools.
The benefit is that you minimize any exposure to the risk of your tokens falling in price due to volatility. Users ineligible regions can also earn rewards for holding USD Coin in a Coinbase account. Start buying USDC today.
How to buy USD Coin with Coinbase?
how it by USD Coin or convert any asset to USD Coin with Coinbase.
The benefit of USD Coin is that it is designed to be paid to the U.S.
dollar.
How to buy USD Coin?
Once signed into your Coinbase account, click on the search bar up top,
then type in USD Coin and click on the asset in the Add Cash tab.
Enter the amount ofUSD Coin you’d like to buy using your local currency.
Then click Preview.
Review the details, then click Add cash now.
Congratulations, you’ve just purchased some USD Coin.
How to convert USD Coin?
Now let’s go over how to convert any asset to USD Coin.To begin converting any asset to USD Coin ,go to your assets tab on the left sidebar of your Coinbase account.
For this example, we will convert tether also known as USDT to USD Coin Click on the asset of your choice under my crypto.
Next click on convert USD Coin.
Towards the top right click the asset in the two section and updated to USD Coin You should be converting from your existing asset to USD Coin .Enter the amount you’d like
to convert.Then click Preview Convert.Review the details.
This is where you’ll see any applicable fees for this transaction.Finally, click on Convert now.Congratulations.
You successfully converted your existing asset to USD Coin.
Start buying or converting to USD Coin today.