What is USD Coin?
USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. When trading, you will always be able to exchange 1 USD Coin for $1.00, which guarantees that you will receive in your wallet the exact amount of your earnings, immediately and without commissions. This optimal and advantageous payment method is changing the traditional financial system, and it leads to a new era based on a blockchain-powered open financial system.
Advantages of trading with USDC
1. It is a stablecoin, so you will always be able to exchange 1 USD Coin for $1.00.
2. It guarantees that you will receive in your wallet the exact amount of your earnings.
3. The transactions are made in a few seconds and without commissions.
4. It allows individuals, with or without a bank account and from any country in the world, to hold the value of the dollar by simply using a mobile device and a digital wallet.
5. You can easily exchange USDC by FIAT money (e.g. dollar) or other cryptocurrencies.
6. It allows you to get paid for the revenues generated online using a debit card which is free, easy and quick.
Where can you exchange USD Coins?
You can exchange USDC by FIAT money (e.g. dollar) or other cryptocurrencies. Blockchains are platforms that facilitate the trading of cryptocurrencies for other assets, including digital and fiat currencies.
USDC is supported on multiple blockchain platforms including Ethereum as an ERC-20 token, Algorand as an ASA token, Solana as a SPL token, TRON as a TRC-20 token, and Stellar as a native asset. Ethereum platform is the largest and most well-established, open-ended decentralized software platform with its own cryptocurrency called Ether (ETH).
What is the difference between centralized and decentralized platforms?
On the one hand, centralized exchanges operate as a third party between a buyer and a seller. However, centralized exchanges are controlled by companies that are responsible for their clients’ holdings, and while this can offer great advantages such as reliability and intuitive use, they are highly vulnerable to the risk of hacking or bureaucracy.
On the other hand, decentralized exchanges allow users to interact with each other without the need for a third party. Even though these platforms cannot provide the same user-friendly usability as centralized ones, these offer amazing advantages to prevent any risk from hacking.
Where can you store USD Coins?
You can store and make USDC transactions using digital wallets. These can be a device, a program on an app or online websites, or even a service offered by exchanges. These are the most reliable wallets currently that support Ethereum:
Debit card for USDC transactions
This card works the same way as a conventional debit card, so it can be used for on-site and online payments. In addition, It can also be used to withdraw money from ATMs. In this way, using a debit card for USDC transactions is a great way to get paid for the revenues generated online.