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USD Coin

USDC

USD Coin Market Stats

USD Coin Price

$22,014.48

USD Coin Price Change (24H)

$22,014.48

USD Coin Price (24H Low)

$22,014.48

USD Coin Price (24 High)

$22,014.48

USD Coin Price (All Time High)

$22,014.48

USD Coin Market Cap

$22,014.48

USD Coin Volume (24H)

$22,014.48

USD Coin Circulating Supply

$22,014.48

USD Coin Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is USD Coin (USDC)?

The USD Coin (USDC) is a digital currency that falls under the stablecoins category. In fact, it’s the second-largest stablecoin after Tether (USDT), having a market capitalization of $73 billion.

Its value is equated to one US dollar, but it is not regulated by the US government and federal banks. Like the typical currencies, this coin runs on decentralized blockchain technology.

Since its launch in 2018, the market price has remained stagnant as it follows the dollar value. Its reserves are kept in notable financial institutions whereby an accounting firm known as Grant Thornton oversees the accounts. Moreover, this accounting firm handles the coin’s progress reports.

The Circle managed to raise $110 million to fund the project before the Coinbase partnership. They formed a company called Centre which now controls and manages the coin.

The company’s primary goal is to financially connect merchants, individuals, and everyone across the globe. Through this company, the US dollar can move over the internet swiftly.

Usd Coin - Comparewise

Who Created USD Coin (USDC)?

The USD Coin (USDC) was launched in September 2018 by a company known as Centre. This happened after the founding company, The Circle, announced its intentions to release a stable coin.

The Circle’s founders, Sean Neville and Jeremy Allaire, partnered with Coinbase, a leading crypto exchange. The Circle founders first announced their plans in May 2018 and managed to raise $110 million.

Also, bear in mind that The Circle is a registered Money Service Business (MSB). This implies that it must follow the federal laws governing financial handling. Moreover, the company is a Goldman Sachs crypto-backed start-up.

How Does USD Coin (USDC) Work?

The value of one USD Coin (USDC) is equal to one US dollar. In the case of USDC, there are no miners involved. Instead, The Circle manages and regulates the transactions.

They do this through a process called tokenization, whereby USD Coins (USDC) are minted or burned depending on the transaction’s nature. The process of getting USDC takes a three-step procedure as follows.

  1. You send the fiat currency you want to exchange into USDC to the crypto exchange.
  2. The exchange uses a smart contract to mint the USD Coin (USDC) amount equal to the money deposited.
  3. The minted USDC gets sent to your account, while the fiat currency is transferred to the reserves.

Getting US dollars from your USDC investment is simple and known as “burning”. It is the reversal of minting the coins and is as follows.

  1. You send a request to redeem a specified USDC amount to your crypto exchange.
  2. The exchange then uses the smart contract to request the redeeming of the USDC from circulation.
  3. Your USDC amount is burned for the equivalent US dollar and credited to your bank account after subtracting the transaction fees.

Is USD Coin (USDC) a Good Investment?

The USD Coin (USDC) is not a cryptocurrency like the typical Ethereum and Bitcoin. Instead, it is a stablecoin backed against the US dollar, meaning the cryptocurrency market volatility does not affect it.

A typical example is when you consider how bitcoin prices appreciate and depreciate over a specified time. If you compare this to the USDC, you will see that the USDC price remains stagnant depending on how the US dollar is doing.

That said, this stablecoin is not meant to be an investment. However, you can use the tokens in lending programs to earn passive income. Also, note that this is a considerable risk since you will be staking your USDC with uncertainty, so make an informed decision beforehand.

The best way to view USD Coin (USDC) is to term it as a way of transacting between parties without the involvement of intermediaries like a bank. Moreover, it would be worth checking out other coins, like Bitcoin (BTC) or crypto stocks.

FAQs about USD Coin (USDC)

How many USD Coins (USDC) are there?

According to The Circle’s website, there is $55.7 billion in USD Coins (USDC) in circulation as of June 2022. This value is not tied to any market cap since the coins are generated when needed and burnt when sold.

How is USD Coin (USDC) secured?

Since the USDC is a stablecoin tied to The Circle for management and transactions, you must keep your coins safe. To do this, you can get any wallet supporting the Ethereum network since USDC is built on the blockchain. However, all transactions are transparent and observed by Grant Thornton LLC.

What can you use USD Coin (USDC) for?

The USDC is a stable digital currency making it usable in different ways. You can use the coin to send and make payments globally, protect foreign money against inflation, organize crowdfunds, and much more.

USD Coin News

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Best USD Coin Wallets

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USD Coin Analysis

USD Coin (USDC) Analysis Summary

The USD Coin (USDC) is a cryptocurrency like no other since the market volatility does not affect its value. It was launched in 2018 and is backed against the US dollar.

For this reason, its value has stagnated only with minimal dips observed over time. It is not the best way to invest in crypto for any investor looking to make capital gains.

However, there are lending programs you can stake your USDC to earn passive income. Though this comes with significant risk. The best approach is to see USDC as a way of facilitating dollar payments across borders.

But it can also help secure your foreign cash against the dollar if the currency faces inflation rates. There is no projection of a bullish or bearish run because USDC’s value is pegged to one US dollar.

However, market experts and analysts predict that USDC can overtake USDT to become the most popular stablecoin in the future.

Analysis Q&As

What is USD Coin price today?

USD Coin price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for USD Coin?

USD Coin hit an all time high of [All High].

What was the lowest price for USD Coin?

USD Coin had an all time low of [All Low].

What was the 24 hours trading volume of USD Coin?

The 24 hour trading volume of USD Coin is [Volume].

Where can USD Coin be traded?

You can trade USD Coin on Crypto.com, Kraken, Binance, and FTX. The popular trading pairs for USD Coin in the market includes USDC/USD, USD Coin/CAD, USD Coin/EUR, USD Coin/GBP, and USD Coin/AUD. USD Coin is a token that is related to the ... categories.

What exchange is USD Coin on?

Online traders can buy or sell USD Coin (USDC) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

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USD Coin Technicals

See Comparewise coin rating definitions for more information.

USD Coin Price Statistics
USD Coin Price Today

08/16/2022

USD Coin Price

$22,014.48

USD Coin Price Change (24H)

$22,014.48

USD Coin Price (24H Low)

$22,014.48

USD Coin Price (24H High)

$22,014.48

USD Coin Price (All Time High)

$22,014.48

USD Coin Market Cap

$22,014.48

USD Coin Volume (24H)

$22,014.48

USD Coin Circulating Supply

$121.3M

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