USD Coin, denoted by USDC, was launched by Circle in 2018. It is a cryptocurrency that is a centralized fiat-collateralized stablecoin. Since it is pegged to USD, a fiat currency, the value of the USDC is supposed to be stable. Its value is maintained at 1:1 to USD. 

Circle has to store cash in reserve in a local bank to maintain the value. The involvement of a bank makes it a centralized cryptocurrency. Stablecoins are a relatively new addition to the cryptocurrency market, so there is still a lot to learn.

1

What to Consider When Buying USD Coins?

Before buying USD Coins, you should consider a few things. Keep in mind that stablecoins are not as great investments as other cryptocurrencies because the price stays stable. USDC is better as a digital currency. Furthermore, consider the following factors as well:

The cost of buying USDC

USD Coin is pegged to the US dollar, and its value hovers around 1:1 to USD. This means the cost of buying USDC will be the same over long periods. Therefore, there is no scope for price fluctuations as with other cryptocurrencies.

So, you need not go out of your way to buy USDC tokens. Moreover, the lack of volatility means it is not much investment. So don’t spend too much on buying USDCs just because they don’t cost much.

Finding a reputable exchange 

We constantly check traditional money for counterfeits and damage. We should do the same for cryptocurrencies too. Since digital money is virtual, it becomes easy to con people.

Because of that, you should always get your USDCs from a reputable exchange. It reduces the risk of forgery. So look for a secure, reputable cryptocurrency exchange to buy USD Coin from.

Bonuses at crypto platforms

USD Coin is a great digital currency to conduct transactions since it is meant to function like that. A lot of crypto platforms offer bonuses when you use USD Coins.

These bonuses are designed to incentivize the people to use USDCs. It is understandable, given the fact that USDC is a relatively new addition to the market.

Is the platform user-friendly?

Cryptocurrencies already have complex functioning. They don’t need to have a difficult platform to use as well. Make sure that the USD platform is easy to comprehend and use. Otherwise, your money would go down the drain.

2

Where to Get USD Coins?

If you want to own USD Coins, you need to know where you can get them. Listed below are the various platforms which offer USD Coins to people:

Cryptocurrency exchanges

These platforms allow you to exchange any asset of your choice for cryptocurrencies. You can use fiat currencies or other cryptocurrencies to receive USDCs in return. Some popular crypto exchanges which offer USDC include CoinBase, Kraken and Gemini.

Trading apps

These platforms allow you to trade other cryptocurrencies in return for USD Coins. Each trading platform has a long list of trading pairs, like USDC/BTC or DOGE/USD. These pairs show the currencies you can exchange to receive the cryptocurrency of your choice. 

USD Coin ATMs

USD Coin ATMs are cryptocurrency ATMs that allow you to buy and sell USD Coins for traditional money. You can use a debit or a credit card to purchase the tokens and receive cash if you sell them. They are ready to operate like regular ATMs. 

Brokerages

Brokerages are third-party firms or individuals which conduct the transactions on your behalf. You have to pay a brokerage fee and forget about the rest. The brokerage takes the best decisions after studying the market. 

3

The Steps of Acquiring USD Coins

Now that you finally know the platforms where you can acquire USD Coins, it is time to learn the next step. It would be best to learn how to obtain the tokens from the platform of your choice. Follow these steps, and you will finish the process in no time:

  1.  Choose a platform to buy USD Coin from

First and foremost, you have to decide which platform you wish to buy USD Coins from. There are numerous platforms, as already discussed in the article. Therefore, find a platform that suits your requirements the best.

  1. Decide on a payment option to pay for USDC

The next step is to decide which payment option you will use to pay for the tokens. Most platforms offer a long list of payment options, so people can use the one they are most comfortable with. You can use credit cards, debit cards, traditional money, other cryptocurrencies, and even other e-wallets. Decide which one is the best for your transaction.

  1. Place your order

Finally, it is time to place the order. Fix the number of tokens you will buy, and make the required payment. You might be asked to perform additional actions, like providing an OTP or verifying your account. Just complete the steps that the platform asks you to perform.

  1. Receive and safely store your USDC

As soon as your order gets processed, you will receive your USDC tokens. To receive them, you should have a cryptocurrency wallet that supports USDC. A USDC wallet will help you keep your tokens in the utmost secure manner.

FAQ

Are USD Coins safe to use?

Yes, USD Coins are safe to use. In fact, as a stablecoin, USD offers more financial security to investors.

When was USDC launched?

USDC was launched in September 2018 by Circle. Circle first announced USDC in May of the same year.

What is a USD Coin ATM? 

USD Coin ATM is a cryptocurrency ATM that allows you to buy and sell USD tokens.

What is a trading app?

A trading app is a platform where you can buy and sell cryptocurrencies. 

Where do I store USD Coins?

It would be best to have a cryptocurrency wallet that supports USD coins to store them securely. 

Where can I get USD Coins?

You can get USD coins on trading apps, cryptocurrency exchanges, USDC ATMs and even brokerages.

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