What is USD Coin(USDC)?
A cryptocurrency called USD Coin (USDC) is made to have a fixed value of $1 USD. A broader class of cryptocurrencies known as stablecoins, which use a variety of processes — such pegging their value to fiat currencies or commodities — to help maintain a stable price, includes assets like USD Coin and Tether (USDT). In the unpredictable cryptocurrency market, stablecoins are a crucial tool that enable users of digital assets to profit from the relative stability of the dollar or other stable assets.
The USDC stablecoin was developed by CENTER, an organization founded by cryptocurrency exchange Coinbase and FinTech company Circle. Circle first announced plans to launch USD Coin on May 15, 2018, raising $110 million. USDC first started on the Ethereum blockchain as an ERC-20 token, but has since expanded to other blockchains including Solana, Stellar, Avalanche, Flow, Tron, and Algorand.
As of November 15, 2022, USDC has a market capitalization of $44 billion, ranking second among stablecoins. According to CENTER’s first report released in October 2018, approximately 127 million USDC were in circulation. It will exceed 44 billion by 2022.
How can you use USDC?
- as a mode of exchange. If you wish to send money using a cryptocurrency, you may rely on USDC to maintain its value over time without experiencing the sometimes-dramatic price swings that are typical of cryptocurrencies.
- as a way to earn interest. Some platforms offer interest payments to users in exchange for USDC deposits. Please note that this activity involves risks. Also, USDC could reveal itself with his DApps and DeFi. USDC is used by various DApps and DeFi protocols such as Aave, Compound, Dharma, and OpenSea.
- connecting the realm of cryptocurrency with regular payment processors. Along with certain well-known payment processors, Circle has worked with two of the biggest payment networks in the world. When Circle and Visa partnered in December 2020, businesses on the Visa network could start accepting USDC. Mastercard (NYSE:MA) announced plans to accept USDC as a payment mechanism in July 2021. Both Stripe and Checkout.com, payment processors, announced support for USDC in 2022.
How to buy USDC?
You can buy USDC via MEXC website or App.
Step1: Click[Buy Crypto] on navigation bar.There are 5 ways to buy USDC,including Debit/Credit Card, Bank Transfer,P2P Trading,Quick Buy/Sell and Third-party Payment.
Step2:Choose to buy USDC with different Fiat currencies, just select your currency under each method.