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When many people think of cryptocurrency, they usually think in terms of volatility and risk. Stablecoins provide a way to safely use cryptocurrency without having to worry about a reduction in value or crazy market dumps. Circle’s USD (USDC) is one of the stablecoins created to help users get more out of crypto as it is pegged to the US dollar. 1 US dollar = 1 USDC. As a result of this stability, many people prefer USDC for payments and as a reserve in tough bear market conditions. To buy this stablecoin, you need an exchange.
Best cryptocurrency exchange to buy USD Coin
It is easy to buy USDC; a lot of centralized exchanges allow you to buy and even sell it. However, if you are looking for the best place to buy this coin with the lowest fees, then you should definitely check out:
1. Coinbase
- A large number of cryptocurrencies and trading pairs
- Beginner-friendly interface and easy purchase process
- Supports over 100 cryptocurrencies and crypto pairs
- Also offers advanced trading platforms in addition to its beginner-friendly platform
- Lower fees with Coinbase Pro
FUNDING METHODS
CRYPTOCURRENCIES
40+
COUNTRIES
100+
2. Kraken
- In all operating jurisdictions, Kraken is fully licensed and able to operate legally, including the US and UK
- Industry-leading security
- All personal information, such as Know Your Customer protocol information is securely encrypted and stored
- A large range of cryptocurrencies to choose from
FUNDING METHODS
Wire Transfer, ACH
CRYPTOCURRENCIES
20+
COUNTRIES
300+
3. Crypto.com
- Supports over 250 crypto coins
- Wide variety of payment methods
- A Short verification process for fast trading
- Relatively low fees
FUNDING METHODS
Crypto, Credit Card, Bank Transfer, Debit Card
CRYPTOCURRENCIES
200+
COUNTRIES
80+
4. Prime XBT
- It offers lower fees, maximum leverage, competitive trading conditions, and competitive trading fees
- Offers 100x leverage of up to 1:100
- Robust technical analysis tools and charting
- Trades can be executed instantly since the platform uses the latest liquidity resources
- Novel covesting feature and turbo trade
FUNDING METHODS
Crypto, Credit Card
CRYPTOCURRENCIES
7
5. BEXPlus
- Relatively low trading fees which can reach a low of 0.075 per cent to a high of 0.195 per cent
- Offers 100x leverage of up to 1:100
- Offers a free trial for verified users
- Does not require users to verify their account using ID
FUNDING METHODS
Crypto
CRYPTOCURRENCIES
5
6. Binance
- Relatively lower fees in comparison to other exchanges
- Wide range of cryptocurrencies with over 300 different assets to choose on
- Advanced trading tools for advanced traders
- Crypto-to-crypto or fiat-to-crypto trading
FUNDING METHODS
CRYPTOCURRENCIES
175+
COUNTRIES
100+
What are the benefits and drawbacks of the USD Coin?
Pros
- Apart from being backed by the dollar, it is also backed by a combination of strong American reserve assets.
- USDC Transactions take place faster than they would for the dollar which enables people to send and receive money doubly fast.
- Unlike some popular payment methods like PayPal, anyone can use USDC in any location across the world.
Cons
- The coin does not increase in value, even after a long time. Unless it is put into savings or another investment vehicle, USDC has no additional value in years.
- Circle has a history of being an unstable company, so you need to watch out for any sudden moves that can affect its stablecoin.
What is USDC?
The USD coin was created nearly a decade ago by Jeremy Allaire, who sought to invent a digital dollar that could be used anytime, anywhere as a means of payment. But, the coin had a rocky start and seemed to be less appealing to the public in its early days. Despite its rough beginnings, USDC now has a 24-hour trading volume of 6 billion USD. For more accountability, Grant Thornton, a globally acclaimed accounting firm gives monthly reports on the reserves that back USDC.
Is USDC relevant in today’s digital economy?
Stablecoins like USDC plays a critical role in today’s digital economy. Every day people are not the only beneficiaries of USDC. Institutions and market makers also benefit from the stability this coin offers, especially when it comes to transaction settlement time. It is far easier and faster to use USDC transactions to settle on-chain than to use the dollar. Stablecoins like USDC also allow people to receive and send dollars, especially in places where it might be highly expensive or cumbersome to do so.
Where to Buy USDC?
You can buy USDC directly from your bank account or credit card from a host of popular centralized exchanges. If you prefer to use decentralized exchanges, then you may need to swap a cryptocurrency you have, say Bitcoin, to get USDC. It is important to note you can buy less than $1 worth of USDC, provided the exchange you choose to use allows it. Buying and selling of USDC are extremely cheap, as most transactions cost less than $0.5, whether you are buying $10, 000 worth of USDC or selling $10 worth of the stablecoin.