Digital dollars? The Stable USD Coin (USDC)
USD Coin (USDC) is a stable coin issued by regulated financial institutions and backed by the US Dollar on 1 for 1 basis. It means that every time they create one USD coin they have to deposit that equivalent amount of money $1 in a bank.
USDC was launched in September 2018 in collaboration between Circle and Coinbase. USDC is an alternative to other USD backed cryptocurrencies like Tether (USDT) or True USD (TUSD). USDC is an open-source contract-based stable coin.
The advantage of USDC is simply it gives you the best of both worlds. It gives you a cryptocurrency for blockchain investing, without volatility. USDC gives you the ability to transfer money around the world. It's well regulated and fungible. USDC is an instrument that allows you to spend your dollars in cryptocurrency.
By investing in USDC it gives you a stable value instead of fluctuation like other cryptos, where we do not know what the price might be the next day. For example, if you want to give 20 USDC to a friend, you know that the value tomorrow will remain 20 dollars.
The purpose of creating USDC is to bring us crypto can be useful on a daily basis. To gives a variation in your crypto investment you may consider to put this USDC into your crypto wallet.
Here are several ways to purchase USDC:
1. CoinBase - this is one of the most popular platforms because it is easy to use on your phone or tablet and is available in most countries.When you join CoinBase you can get AUD 13.84 in free Bitcoin when you buy or sell AUD 138.41 or more, by using the above link.
2. Celsius this is a platform that works and operates similar to a bank, where you can deposit and earn interest, or borrow against an asset to receive cash or coins. Interest rates may vary from 2% up to 10% or more, depending on how stable the coin is seen to be. As of when this article was written, interest paid on USDC digital dollars by Celsius is 11% which is far more than a bank pays on paper money. Join Celsius Network using referral code 150028dfbe when signing up and earn $20 in BTC with your first deposit of $200 or more!
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