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What is USD Coin (USDC)?
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Written by Ignat
Updated over a week ago

USD Coin (USDC) is a digital dollar stablecoin and a child of Circle and Coinbase's consortium. According to Circle, USDC is issued by regulated financial institutions, backed by fully reserved assets and is redeemable on a 1:1 basis for US dollars (i.e. its price is always $1).

As a stablecoin, historically it has been less volatile than most other digital currencies. With USDC, you can transfer money across borders quickly and easily, without having to rely on any middleman.

Check out this article to choose the most convenient way to buy cryptocurrencies, including USDC.

NB: For USDC transfers, Cryptopay supports ERC-20 and TRC20 networks only. All the funds sent via other networks (e.g. BEP-20 etc.) will be lost forever.

In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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