Cryptocurrency Q&A
What USDC coin means?
What USDC coin means?
GangnamGlitzGlamourGlory
Sat Nov 02 2024
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6 answers
1504
USDC, or USD Coin, is a stablecoin pegged to the US dollar, meaning each USDC is backed by one dollar held in reserve. It was launched in 2018 by Circle and Coinbase, aiming to provide stability in the volatile cryptocurrency market. USDC is an ERC-20 token on the Ethereum blockchain, enabling fast and cheap global transactions.
6 answers
DavidLee
Mon Nov 04 2024
USDC, also known as USD Coin, is a stablecoin that is designed to maintain a constant value equivalent to the US dollar. This feature makes it a popular choice for investors and traders who seek stability in the volatile cryptocurrency market.
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SeoulSerenitySeekerPeace
Mon Nov 04 2024
The primary advantage of USDC is its peg to the US dollar. This means that the value of the token is artificially kept at the same level as the US dollar, providing a stable store of value. This is achieved through a process of collateralization and algorithmic stabilization.
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henry_miller_astronomer
Mon Nov 04 2024
USDC is issued by a company called Centre, which is a collaboration between two leading cryptocurrency companies, Coinbase and Circle. The company ensures the stability of the token by maintaining reserves of US dollars that back each USDC in circulation.
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SumoPower
Mon Nov 04 2024
In addition to its stability, USDC offers several other benefits. It is a fully digital asset that can be easily transferred and exchanged online. This makes it a convenient option for making payments and transfers across borders.
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OceanSoul
Sun Nov 03 2024
USDC is also widely accepted in the cryptocurrency ecosystem. It can be used to buy and sell other cryptocurrencies on exchanges, and it is integrated with various wallets and payment platforms.
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