About USD Coin (USDC)
Name USD Coin
Market Capitalization$43.12 billion
Coin or TokenCoin
Official Website (Alt)N/A
Message Board (Alt)N/A
USD Coin (USDC) Frequently Asked Questions
What is USD Coin?
USD Coin (USDC) is a fully collateralized US Dollar stable coin. It is built on the open source fiat stable coin framework developed by CENTRE, and Circle is the first of several forthcoming issuers of USDC. USDC is designed to minimize price volatility and it does so by ensuring that every unit of USDC is only created when a corresponding US Dollar is deposited into a reserve bank account. Its major application at this point is as a mechanism for trading and hedging in global crypto capital markets. However, USDC is being adopted for use cases such as lending, payments, investments, and further applications within financial contracts such as derivatives contracts, insurance contracts, and security tokens.Commercial issuers of USDC are required by CENTRE to be licensed to handle electronic money; have audited AML and Compliance programs that meet FATF standards; back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors; support fungible exchange and redemption of USDC tokens from other authorized issuer members; meet other reporting and review requirements established by CENTRE Note that as a fully collateralized stablecoin, the supply is determined by the USD deposits being taken on issuing services such as circle.com/usdc. Recently, CENTRE announced that Coinbase is joining Circle as a founding member of CENTRE Consortium, and as part of this USDC is now available on Coinbase Pro and coinbase.com. (Description provided by CryptoCompare)
How do I buy USD Coin?
It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including USD Coin.
Where can I get USD Coin wallet?
USD Coin produces its own wallet software that is available for download on its website, which allows you to store USD Coin on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
What is the value of USD Coin?
One USD Coin (USDC) is currently worth $1.00 on major cryptocurrency exchanges. You can also exchange one USD Coin for 0.00002799 bitcoin(s) on major exchanges. The value (or market capitalization) of all available USD Coin in U.S. dollars is $43.12 billion.
What hashing algorithm does USD Coin use?
USD Coin is a coin that uses the Ethash algorithm.
What coins are similar to USD Coin?
The following coins use the same hashing algorithm (Ethash) as USD Coin: Ethereum, Ethereum Classic, Ethereum Name Service, Waltonchain, Super Zero Protocol, Callisto Network, Metaverse ETP, Etho Protocol, Master Contract Token, Ether Zero, Akroma, Ellaism, Bitcoiin, Elementrem and Money Plant Token.
USD Coin (USDC) Price Chart for Saturday, January, 22, 2022
USD Coin (USDC) Search Trends
There is a correlation between price appreciation and public interest in cryptocurrencies, such as USD Coin. Many cryptocurrency investors use Google Trends, which measures the volume of web searches for a particular topic over time, as a tool to gauge whether public interest is increasing or decreasing for a particular cryptocurrency. The chart below shows how search volume has changed for the phrase "USD Coin Coin" over the last 90 days.
USD Coin (USDC) Website Traffic
USD Coin (USDC) Social Media Trends
USD Coin (USDC) News Headlines