Cryptocurrency is a rollercoaster. Anyone who’s invested in Bitcoin or the hundreds of other assets can attest to that. Some are equipped to handle that volatility with mental fortitude alone, others need some help. That’s where USD Coin comes in.
USD Coin (USDC) is a dollar-backed stablecoin (a digital token backed by real-world currency) and it helps traders enter and exit the market with increased efficiency and stability. Circle, the company behind USDC claims that every USDC token is backed to real US Dollars at a ratio of 1:1. Hence, if you have 1,000 USDC, it means you can sell that for 1,000 USD. USDC began on the Ethereum blockchain as an ERC-20 token but has since expanded to other blockchains like Algorand and Solana.
Circle created USDC in a joint venture with Coinbase, The USA’s most popular cryptocurrency exchange. Circle is a Boston-based company backed by many large traditional finance companies such as Goldman Sachs. In 2013, Circle started as a FinTech company built to send money quickly on mobile devices. Eventually, they expanded into the cryptocurrency industry, raising over $100 million in venture capital funding and even acquiring once-popular exchange Poloniex.
While Tether (USDT) was the first dollar-backed stablecoin in existence, USDC has quickly made a name for itself.
YouHodler aggregates prices from top centralized exchanges to provide an accurate USDC price and charts.
The easiest way to buy USDC is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.
The best way to earn interest on USDC is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest.
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