USD Coin (USDC) is a standard coin launched by Coinbase and the crypto financial company Circle, which is linked to fiat currency. Like Tether, it is supported by the US dollar at a ratio of 1:1. The main goal of the coin’s creators was to avoid the high volatility that cryptocurrencies are usually supported by. USDC is an ERC-20 token built on the Ethereum blockchain. 

“Stable cryptocurrency. With USDC, you can transfer dollars to any point in the world in a matter of minutes. Cheap and safe. Tokens provide stability, open up opportunities for trading, hedging of risks, crediting,” the official website of the USDC says. Circle also describes the currency in its blog: “A token with a stable price – this is an opportunity for the emergence of new powerful global financial partnerships”

What is USD Coin [USDC]?

USD Coin or USDC is a stablecoin pegged to the US dollar. It is believed that each USDC coin is backed by 1 USD, therefore, the rate of the cryptocurrency to the dollar is 1:1. The dollars that provide the USD Coin are held in a regulated bank account, and the coin itself is run by Center, a consortium that oversees the technical and financial standards of the asset.

The goal of cryptocurrency developers is to create new digital money that will become a cheap, secure and affordable means of payment. Coins such as USDC provide stability for traders and businesses and open up new opportunities for cryptocurrency use. For example, hedging funds.

Features of USDC

Like any other stablecoin, the main advantage of USD Coin is its stable rate, which is always equal to 1 USD with minimal deviations. Therefore, this type of cryptocurrency is constantly used by crypto traders and other market participants to store funds and hedge risks when trading.

USDC is based on the Ethereum blockchain according to the ERC-20 standard, which allows third-party applications and services to be connected to the system, and, therefore, to scale.

The low volatility of the cryptocurrency also makes it an excellent tool for businesses, financial institutions, and constant payments.

Cryptocurrency creators offer their clients an independent financial system with fast and cheap financial transactions around the globe, for which it is enough to have a phone or any other gadget connected to the Internet.

USDC on Chatex

Each Chatex user can quickly buy, sell, exchange and store USDC in a few clicks without leaving Telegram. Just go through a minute registration and become a user of our service, which will provide you with full protection of your funds, any financial transactions of crypto-fiat and crypto-crypto with a minimum fee. And also become your reliable assistant in the quick and easy development of the crypto market — the financial market of the future.

To purchase USD Coin on Chatex, go to “Exchange”— “Buy” — “USDC”.