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What is USDC?
USDC is a stablecoin launched by Circle in 2018. If you’re thinking of buying cryptocurrencies that are stable and secure, USDC is a good option. USDC is a digital asset designed to maintain price equivalence to the US dollar.
The value of the token is pegged to the US dollar, so token holders can redeem 1 USDC for $1 USD. The price always remains stable, which explains the name “stablecoin”.
Circle refers to USDC as a fully-reserved stablecoin, and their website states that each token is “backed by fully reserved assets”.
Where can I get USDC?
USDC is widely available and, of course, you can pick some up at Coinmama.
USDC is primarily available as an Ethereum ERC-20 token but is also available on many well-known and widely-used blockchains such as Algorand, Avalanche, Solana, Stellar, and TRON. Since USDC is now available on such a wide variety of blockchains, users should be careful when sending tokens to ensure that the destination address matches the correct protocol.
Why is USDC useful?
USDC is a stable store of value pegged to the US dollar with the speed and security of blockchain technology. It allows fiat currency to be used digitally and offers traders, merchants, and funds a low-volatility solution when exiting positions in the market. For instance, if a trader decides to buy bitcoin and anticipates a drop in its value, they may opt to hold USDC instead.
In addition, individuals can use USDC tokens to protect themselves from market volatility in the crypto industry.