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USD Coin: Can You Really Trust USDC?

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📝 Overview 📝

The USDC is one other stablecoin that’s making an attempt to problem Tether et al.

It’s issued by the Centre consortium which is between Circle and Coinbase. Circle is an organization that owns the Poloniex change and is backed by Goldman Sachs.

It’s US based mostly, is backed by well-known corporations and is absolutely US greenback funded – all of this verifiable by public document and inside audits.

The USD Coin remains to be centralised. The greenback reserves are within the fingers of the Consortium and the {dollars} are redeemed by them.

The USD Coin was issued on the Ethereum blockchain as an ERC20 suitable token.

With the intention to ensure that the coin stays absolutely greenback backed, they are going to situation and burn tokens each time there’s a deposit / redemption.

The greenback peg will likely be maintained by a mixture of provide, demand and no-arbitrage pricing dynamics.

The USDC is accessible on plenty of exchanges.

The first itemizing for this token is on Coinbase. For individuals who are based mostly within the US, you should purchase it with {dollars} proper in your Coinbase account.

It’s also listed on Binance, Poloniex, LATOKEN, IDCM and many others.

There’s sturdy turnover for the token on all of those exchanges. This implies a big diploma of liquidity for the larger block orders.

By way of storage, provided that that is an ERC20 commonplace token, you might have quite a few pockets choices – though it’s best to most likely go for a trezor or ledger.


📜 Disclaimer 📜

The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who isn’t a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any specific consequence.

#USDCoin #USDC #crypto #blockchain #Evaluate #Bitcoin #Stablecoin #Circle #buying and selling #Coinbase #cryptocurrency #coinbasepro

Source: Coin Bureau

23 Responses

  1. I don't see USDC in the drop down menu in my Trezor. Can I first send a bit from my CB account for it to show? I ultimately would like to buy and sell my bitcoin in and out of USDC with opportunistic swings in growth and decline.

  2. How the he'll do you people lie so casually like this? If someone trades Doge for USDC then that USDC is NOT at all us dollar-backed, it's backed by Doge. If USDC's crypto assets fall in value, which we all know that they have, then USDC's value being 1 dollar is completely arbitrary and not fully backed by ANYTHING.

  3. Exorbitant Ethereum Fees Equals Locked Coins! I was attempting to use Uniswap to acquire Shiba Inu coins. FIVE Blockchain transactions fees later and still NO coins. Tried the DEX feature for convenience. Still one Fee NO coins! Who do you call with a decentralized, Mobile Only wallet? I can't even Transfer my USDC coins due transaction fees the equivalent of the transaction amount! Decentralization is fine but consumer protections are much better. I can't wait for REGULATIONS! Buyer BEWARE! Trust wallet 👀

  4. Ok so…. on voyager, usdc is a 9% interest rate. If I put 100k in it, will I make 9k a month compounding interest…?

    Is it safe to do that…?

    Would you recommend that or nah?

  5. So if I put my cash deposit from my voyager app to usdt or usdc, can you explain to me in easy terminology how and when do these crypto coins pay out interest?

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