how to buy usdc

The whole process can take as little as 15 minutes and all you’ll need is a smartphone or computer, an internet connection, photo identification and a means of payment. The other reason to buy USD coin how to buy usdc is to earn rewards on Coinbase. I would advise that you complete this process as it is required in order to purchase USD coin. You will need to upload a photo ID such as a driving licence or passport.

how to buy usdc

USD Coin can also be used in liquidity pools with other cryptocurrencies to earn additional rewards. There are many custodial and non-custodial wallets to choose from. Please note that the availability of the products and services on the App is subject to jurisdictional limitations. may not offer certain products, features and/or services on the App in certain jurisdictions due to potential or actual regulatory restrictions.

How to buy USDC?

Every USD coin in circulation is backed by fully reserved assets in the equivalent value and held in segregated accounts with US-regulated financial institutions. USD Coin (USDC) is a stablecoin designed to keep a constant one-to-one value with the U.S. dollar. Stablecoins like USDC aren’t really seen as investments, instead offering liquidity for crypto traders looking to purchase other cryptocurrencies seamlessly on exchanges. USD Coin (USDC) is a USD-backed stablecoin issued by regulated financial institutions. Each USD Coin in circulation is backed by a corresponding US dollar held in a US bank account, and can be redeemed for USD at any time. Circle has committed to maintaining transparency and regulatory compliance in its operations, regularly publishing the above-mentioned attestation reports conducted by auditing firms.

how to buy usdc

To get an idea of where the cryptocurrency market is headed, watch the price movements of major cryptos like Bitcoin and Ethereum. Now that you know how to buy USDC you need to learn how to store it safely. USDC makes money from the interest on the cash and cash equivalents it holds. For example, with the current reserves of approximately $47 billion, even if they only earned interest of 0.10% per year, that would equate to an income of $47 million.

Software Wallet: Coinbase Wallet

Hardware wallets are like secure USB sticks with one job- to be a firewall between your USD Coin and the outside world. In the drop down boxes select ‘USDC’ and then the currency you deposited to Depending on which currency you’re using you’ll be given various options on how to deposit money to

Yes, you can buy USDC (USD Coin) through various cryptocurrency exchanges in the United Kingdom, abiding by the nation’s financial regulations. Most exchanges will allow you to transfer your USDC back into fiat currencies such as US dollars or British pounds. When USDC is sold for cash, the tokens are burned to keep the supply equivalent to reserves being held. The stablecoin market is one of the most interesting ecosystems in the cryptocurrency space, and stablecoins have become a trendy asset class. They are backed by fiat currencies, and most prominently, the dollar.

USD Coin (USDC) Price Performance

Today the most common use case for USDC is to hedge against volatility in the crypto market without leaving the crypto ecosystem. Stablecoins can also interact with decentralized finance (DeFi) programs and earn interest. Since USDC uses Ethereum’s network, the stablecoin can be used on decentralized exchanges (DEXes) like Uniswap, and SushiSwap – something fiat cannot do.

how to buy usdc

Find an exchange to buy, sell and trade USDC by comparing deposit methods, supported fiat currencies and fees. To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it’s a good idea to have those ready. You should review a few different platforms to find the best cryptocurrency exchange for your needs.

If your account fails this review process you may want to instead use this method of buying USD Coin on Binance. On the next page you’ll be given the option to select your preferred currency. You will then be given the option to either take a photo of the identification and your face using your webcam or upload files of the same. If you’re on a mobile phone, you can click the supplied link to continue verification on your phone. You will be asked to increase your account security by enabling 2FA (two factor authentication). Click the Google authentication option and follow the instructions to set it up.

  • You may be told that your account is under review to assess if you are eligible to purchase cryptocurrencies using a credit card or debit card.
  • Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value.
  • Every USDC in circulation is 100% backed by one U.S. dollar which is held in segregated accounts with US-regulated financial institutions.
  • Once you buy your USD-Coin using your payment card or a bank transfer, it will be automatically sent to your hardware wallet, and thus secured.
  • To complete the process, you must verify your email address by clicking the verification link sent to your email.
  • Once your account is secured, return to the dashboard and click ‘security’.