Stablecoins are not only a tool for capturing profits from crypto-trading but also an excellent means of payment. It’s all about the lack of volatility in the price of stablecoins and about zero transaction fees. The project team promotes its cryptocurrency, trying to make it as simple and accessible as possible for even novice users. A lot of people are looking for a reliable USD wallet like Sapien Wallet.
What is USD Coin (USDC)?
USD Coin is a cryptocurrency, the price of which is tied to the value of the U.S. dollar. The first coins were issued in October 2018 by three companies Circle (Circle Internet Financial), Coinbase, and Centre Consortium. They did not bother to develop their own blockchain and used Ethereum, so USDC is an ERC-20 standard token.
The developers of USD Coin set a goal — to increase investors’ safety, reduce trading risks, give an opportunity to make payments in a stable asset, and they coped with the task. Circle Internet Financial also offers interesting products:
- Circle Invest. This is a mobile app created for quick investments and trading, for example, Bitcoin, Ethereum, Bitcoin Cash.
- Circle Pay. This is a mobile app, which allows you to send and receive cryptocurrencies.
- Circle Trade. This is a trading platform, which looks more like a common exchanger than a cryptocurrency exchange. It is more focused on large players and provides increased liquidity and improved security.
It is with the help of these 3 products USD Coin has made great strides in the cryptocurrency market. USD Coin’s major partners include mining giant Bitmain. Among partners also is Blockchain Capital — the venture capital arm of the industry’s largest Bitcoin wallet. Adding USDC is possible on any exchange that supports the ERC-20 standard.
As for the security of USD Coin, the issuer assures USD tokens are secure. Centre Consortium has the appropriate license and works with partner banks. USD token is a major competitor to Tether, but in contrast, there is an emphasis on increased security, transaction transparency, and lower volatility. Unfortunately, it is impossible to mine USD crypto.
Advantages of USD Coin (USDC)
Circle and Coinbase have major partners and plans to become leaders in the stablecoin market. USD Coin has all the major benefits of blockchain and meets all banking standards. Stablecoin presents opportunities both for institutional investors but also for ordinary investors and is also great for fixing crypto-trading profits. Advantages of USD Coin (USDC):
- Circle`s and Coinbase team’s extensive experience.
- Collaboration with well-known representatives of the crypto industry and major banks, including Goldman Sachs.
- Support of USDC by many top crypto exchanges.
- Circle’s issuing company transparency.
- It is 100% backed by the U.S. dollar.
- Monthly publication of USDC financial report.
- Open source code.
- Compliance with U.S. regulatory requirements.
- Safety for institutional investors — obligatory verification and KYC on the Centre Consortium’s site.
- Less volatility compared to other stablecoins.
- Partnerships with popular blockchain platforms: Abacus, BitPay, Origin, Ledger, Nexo.
Despite the fact that Centre Consortium cooperates with banks, the main advantage of USD Coin cryptocurrency over the dollar is its autonomy. Using this stablecoin, a person does not depend on the conditions imposed by financial institutions. At the same time, the transaction of fiat currency through a bank can take several days. USDC doesn’t have this problem: transactions go through without delay. The network fee is also much lower than that of a bank transfer.
Where to buy and store USD Coin (USDC)?
USD crypto is supported by most crypto exchanges, so there should be no problem buying or selling. USD token is an ERC-20 token, so it can be stored on Sapien Wallet. Our USD wallet is reliable and tested over the years. The main advantages of Sapien wallet are:
- Non-custodial multi-currency crypto wallet
- User-friendly interface
- Built-in rating system
- Possibility of in-app correspondence
- Low cryptocurrency exchange fees
- Ability to buy and withdraw cryptocurrencies using Visa and Mastercard
- Fully decentralized cryptocurrency wallet
You can buy BTC, ETH, LTC, XRP, XLM, BNB, BCH by paying with Visa and Mastercard in the app. Payments in US Dollars and Euros are accepted. Sapien Wallet is a fast and secure non-custodial blockchain wallet with rating system support. It has a user-friendly interface.
Sapien Wallet does not contain any hidden information. Anytime you want to sell or buy USD Coin (USDC), you can be sure that no one else can track the transactions. Sapien Wallet is a reliable non-custodial USD wallet.
What is the difference between USDC and USDT as well as other stablecoins?
USDC is ready to solve the problems that other stablecoins have, for example, instability. USD Coin offers open-source code, a transparent ecosystem, and full linkage to the U.S. dollar. The main difference, however, is that all token issuance operations comply with banking standards, U.S. laws, and regulatory rules.
At the same time, the Centre Consortium has all necessary licenses for banking operations and adheres to anti-money laundering policies. To do this, the company’s clients are required to undergo a verification procedure — KYC. Circle Consortium has been on the market since 2013 and has managed to prove itself as a professional in the field of payment systems development.
Another important advantage of USD Coin cryptocurrency over the other stablecoins is the partnership with really serious companies. For example, Bitmain (ASIC-miner manufacturer), Goldman Sachs Group (investment bank), Baidu (search engine), and IDG Capital (venture capital market leader). There are also powerful partners who have invested heavily in the development of the project.