What is USD Coin (USDC)? USDC is a new cryptocurrency, a digital prototype of US Dollar. It is a stablecoin and its rate depends on the strong fiat currency. This is a “clear” token that operates in accordance with the United States laws. As a stablecoin, its fluctuations don’t depend on the rate changes of other cryptocurrencies. Particularly, they have no connections with BTC rate. The Ethereum platform was used as the basis for USDC cryptocurrency and USDC tokens are the ERC-20 standard tokens. There is a possibility that USDC will replace Tether, as there have been cases of USDT instability, which caused unfortunate situations. USD Coin is supported by the most major cryptocurrency exchanges like Binance, OKEX, Poloniex, KuCoin, Coinbase Pro and other.
USDC is one of the newest stablecoins. It became available just in October 2018. The project of USD Coin was created by Coinbase in cooperation with Circle. The development itself involved Centre Consortium (Coinbase and Circle joint association). Its investors were Digital Currency Group, Bitmain, Pantera and others.
Let’s say you want to buy USD Coin. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy USDC.