A USD Coin is a cryptocurrency that is used as a token in place of a US dollar. It is often used as a substitute for other digital currencies such as TUSD and Tether. USD coins were developed to facilitate the dollars and make it a digital currency used in online transactions. It provides the benefits of dealing in dollars anywhere in the world.
About USD Coin
Every USDC cryptocurrency is conceptualized as a token, and every single coin amounts to one US dollar. The process of conversion of dollars into digital currencies is referred to as tokenization. It is regarded as a stable coin, as the amount never varies, and it also can be traded to purchase other cryptocurrencies such as Bitcoin, Ethereum, or Dogecoin. The Ether cryptocurrency highly powers the USDC.
A USDC coin makes you the holder of the highest valued physical currency in the world. Additionally, there are many benefits of investing in the USDC. Therefore, let us look at the primary features of USDC trading.
USD Coins is one of the digital currencies that provides the best return rates. Moreover, it gives you the feasibility of converting back to USD from USDC anytime.
Circle owns the USD Coins and provides the holders the guarantee that every USD Coin holds the digital value of a US dollar. However, you can use the tokens in the following ways:
The USDC cryptocurrency price is highly stable.
It makes the entire crypto market secure and adds value to it.
It provides better sponsorship.
The rate of the USDC is better when compared to other stable coins.
It is not the only digital currency that is marked as stable.
It is new in the market of digital currency. Therefore, the awareness is shallow.
The availability of other digital currency which provides similar benefits is high. This creates more competition.
One of the most trusted platforms for crypto trading is CoinSwitch. However, it has many features that separate it from other platforms. Therefore, let us understand the characteristics of CoinSwitch for USD coin trading.
The USDC distributed 60% of its stake as the ICO, which started in May 2018 and ended in September 2018. The soft cap’s total size, which appeared in the crowd sale, amounted to 10,000 ETHS, whereas the hard cap was predicted to be 65,00 USD.
Yes, the market is non-volatile and is very safe.
Regarding owning a US dollar, it is considered a good investment for day traders.
One USDC coin price is one dollar.
CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.
Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.
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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
USD coins were developed to facilitate the dollars and make it a digital currency used in online transactions. It provides the benefits of dealing in dollars anywhere in the world.
4,309 Cr. USDC
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