How to Buy USD Coin (USDC) | Where, How and Why

US Dollar Coin (USDC) is a stablecoin—a cryptocurrency token pegged to the value of a real-world asset, the U.S. Dollar.

Stablecoins are a popular asset class and the stablecoin market is one the most exciting ecosystems within the cryptocurrency space. They can be backed by fiat currencies such as the dollar, but most importantly they are also backed with bitcoins. Stablecoins are attractive to investors because of their stable value.

Learn everything you need about USDC.

What’s the USD Coin (USDC?)?

U.S. Dollar coins are a stablecoin that is dollar-denominated and runs on Ethereum. USDC Issued by licensed financial institutions and backed up by Fully reserved assets that can be redeemed on a 1 basis in U.S. Dollars.

USDC are each backed with one U.S. dollars, and these funds are held in an account at a bank. Grant Thornton LLP provides a monthly audit that is publicly accessible. Buyers can verify that USD Coin (USDC), is 100% redeemable for USD.

USDC, unlike other USD stable coins is managed by Centre. This membership-based group sets financial, technical and policy standards for all stablecoins. The Ethereum token powered by Ethereum USD Coin has been expanded to include the Algorand, Solana and Solana Blockchains.

Below are key USDC features.

  • Regulation: USDC’s parent company is a registered Money Service Business in the United States. It’s regulated by the government’s Financial Crimes Enforcement Network (FinCEN), which combats money laundering.
  • AuditedGrant Thornton is the auditing firm that examines USDC. It’s one of the 10 most prestigious accounting firms worldwide.
  • Rapid.USDC allows for fast transactions and the same stability as the U.S. Dollar.
  • Liquidity: A high level of liquidity is another benefit to USD Coin’s tie-up with the U.S. dollars.

The U.S. Dollar Coin isn’t mined. It’s available as Ethereum ERC-20, Algorand ASA, and Solana SPL tokens that can be purchased using U.S. On several exchanges, dollars are accepted.

The history of the USD Coin

Centre Consortium created USD coin. It was jointly developed by Circle and Coinbase. Circle has the backing of several prominent companies like Goldman Sachs. Additionally, the Centre consortium sets financial and technical standards for stablecoin.

Circle began in 2013 with the goal of making it easy and quick to transfer money. Since then, it has expanded into cryptocurrency—raising millions in venture capital and acquiring crypto exchange Poloniex.  

USDC seeks to address two key issues, high volatility in digital assets and conversion between fiat currencies or cryptocurrencies. Tether was not a good example of a stablecoin that is fiat-backed. The USDC project introduces a fiat-backed stablecoin. It has strong governance and transparency. The USDC issues a public attestation each month of 100 percent fiat token reserves on It also provides clear guidelines and rules for CENTRE members about USDC issuance or redemption. To become an issuer within the CENTRE consortium, members must follow key rules, including licensing, compliance, technology & operations, accounting, and custody of fiat reserves.

USDC may be exchanged on major markets as an option to fiat currencies.

In 2018, the USD coin market was established. Its capitalization has increased from $200 million up to $25 billion since then.

Although the USD coin is stable in price, its number has increased substantially.

How to buy USD Coin

USD CoinsUSDC can be bought just like any other digital currency.

Step 1. Open an online account

The easiest way to start buying USD coins is through Coinbase, especially if you don’t have cryptocurrency. If you already have crypto, you may sign up for a decentralized platform like Uniswap

Your CoinStats Wallet or App can be linked to Coinbase.

Register your email and create a Password.

Buy USDC with Ether tokens, if your crypto is already owned. You’ll need a compatible Ethereum wallet — MetaMask crypto wallet is the best option for Uniswap because it has an easy-to-use Google Chrome extension. You can exchange your Ether tokens for USDC by sending them to MetaMask.

Step 2: Get a digital wallet

Don’t store your USD coins on crypto exchange websites; instead, store them in a secure Ethereum compatible wallet, i.e., CoinStats Wallets and Coinbase Wallets. Your cryptocurrency wallet generates a combination of private and public keys to encrypt it. These keys make it possible to instantly buy cryptocurrency.

Step 3: Buy your USD coin USDC

You will have to make a deposit into your bank account in order to purchase a USD Coin. Coinbase makes it easy to connect your bank accounts. You are now ready to make your purchase.

CoinStats can be described as one of best cryptocurrency platforms. This platform allows you to see the current USD market price as well the USD coin prices. It also provides detailed information on many of the most popular and rapidly-growing cryptocurrency.

USDC is the Best Wallet to Keep Your USD Coins Safe and Secure

Coinbase allows you to store USD coins in a software-based wallet like CoinStats. Coinbase has a dedicated wallet application that’s great for storing your cryptocurrency. You can store Bitcoin, Ethereum, USDC, and several other assets on the wallet’s mobile app, free to download. The USD Coin Global Transactions allows dollars to move from your cryptocurrency wallet to any other crypto wallets, businesses or people.

You can also use Ledger, a secure and more robust hardware wallet.

Ledger nano S allows you to keep all your crypto currencies in one place.

Trade and convert your USD coin

Buying USDC on CoinStats
CoinStats: USDC buying

You can easily convert USD coins into fiat cash by following these steps:

  • First, the user requests to exchange their USDC for USD.
  • To exchange tokens for USD, the issuer makes use of the USDC smart-contract and removes the equivalent tokens from circulation.
  • The user’s bank account is then deposited with the requested amount of USD directly from the reserves. You will be credited with the USD Coin equivalent to your request, less any applicable fees.

Coinbase users are not limited to trading USDC on the exchange. Other exchanges now support the currency, including Binance, paired with BTC and BNB, as well as Poloniex, paired with BTC.ETH.XRP.DOGE.

Which is Better: USDC or U.S. Dollar Bank account 

One of the significant advantages of USDC is that, unlike regular U.S. dollars, it does not require a bank account and isn’t limited to a particular geography.

USDC also has the advantage that you can transfer it anywhere in the world within minutes. It is also much less expensive to use.

One of the main reasons to hold USDC are its rand-hedging properties. Earn interest with your USD coins.

USDC has both a stable dollar-linked price and the benefits associated with blockchain technology.


USDC: How much?

A USDC represents one U.S. dollars. It is redeemable in a 1:1 ratio.

Where can I buy USD Coin?

USDC can also be bought at Coinbase, Uniswap and Binance. Follow the instructions above.

What is the best way to store USDC?

You can store your USDC on any Ethereum wallet,  like CoinStats Wallet or Coinbase wallet. A more secure option is to use Ledger as a hardware wallet.

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