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What is USDC (USDC)?

USDC basic info

Name:USDC

Ticker:

USDCBuy now

Introduction:

This article looks at how USDC works and its advantages over competitors like Tether (USDT).

USD Coin (USDC) Introduction

USD Coin (USDC) is a USD stablecoin issued by CENTRE, a consortium created by Coinbase exchange and a fintech company called Circle. Its value is pegged to the US dollar by fiat currencies and commodities at a 1:1 ratio, which means that 1 USDC is equal to 1 USD.

USDC was first launched as an ERC-20 token in 2018 and has since expanded to other major platforms. While there are many USD stablecoins in the market, USDC stands out amongst the crowd because it is created by a regulated entity that is registered with the US government as a Money Service Business. Besides being regulated, reserves backing USDC are audited by Grant Thornton on a monthly basis, ensuring the value and liquidity of the cryptocurrency.

How USD Coin (USDC) Works

USDC is a fiat and commodity collateralized stablecoin, which means that for every USDC token issued, there is a dollar or a dollar value in dollar-denominated assets. To maintain the balance between the reserve and the amount of USDC, new USDC is minted every time you use fiat to buy USDC, and the fiat is deposited into the reserve; likewise, when you sell USDC to get fiat, the fiat is transferred from the reserves to your bank account, and the sold USDC is burned.

According to the data by the parent company Circle, there are 48.7 billion USDC in circulation as of September 2022. USD 48.8 billion is kept in USDC reserves, of which 10.2 billion is in cash and the remaining 38.6 billion in short-duration US treasuries.

Use cases

With its aim of being an open-source, smart contract-based stablecoin, USDC today has become increasingly popular as a currency for trading, investing, and international payments across the CeFi and DeFi ecosystems.

Protection against volatility: USDC is widely used to "protect" one's assets against the high volatility of the cryptocurrency markets. Typically, investors will store a portion of their USD Coin funds on exchanges to stabilize the price while waiting to trade them for other crypto-currencies.

Money transfer: Unlike the US dollar, it does not require verification by a centralized entity such as a bank, and there are no limitations on the amount of money.

The USDC, therefore, gets rid of the cost, time, and authorization limitations that still surround fiat currency transfers.

How to buy USDC on Bitget?

The easiest and most convenient way to buy USDC is to purchase it via an exchange that offers various payment options like Bitget. You can use Google Pay, Apple Pay, or different credit cards.

Step 1 - Go to Bitget and sign in (or create a new account if you have not already and claim a new user reward).

Step 2 - You can buy USDC via P2P trading or with fiat on Bitget, or click here to buy USDC with your USDT.

Step 3 - To check the USDC you own, go to "Assets" and choose "Spot Account."

Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.

Simply create an account, and start exploring the incredible Bitget-Verse today!

Current price:

$1More price details

All-time high:$2.35

All-time low:$0.8774

USDC supply and tokenomics

Circulating supply:42,904,875,000 USDC

Total supply:42,904,875,624.75 USDC

Max supply:0 USDC

Market cap:$42.91B

Fully diluted market cap:$42.91B

Tokenomics:

Uniqueness

The stablecoin market has become exceedingly crowded over recent years — but USDC has aimed to stand head and shoulders over competitors in several ways.

One of them concerns transparency — and giving users the assurance that they will be able to withdraw 1 USDC and receive $1 in return without any issues. To this end, it says a major accounting firm is tasked with verifying the levels of cash that are held in reserve, and ensuring this matches up with the number of tokens in circulation.

Unlike some crypto ventures, Circle and Coinbase have also achieved regulatory compliance — and this has helped pave the way for international expansion. Both projects are also well-funded, giving the stablecoin certainty.

Coinbase briefly contemplated diversifying the funds backing USDC, but retracted that proposal after heavy community backlash. The transparency over the provenance of its funds has been a big reason for USDC's success. Unlike its rival USDT, which has found itself embroiled in repeated investigations, USDC has never been accused of any wrongdoing.

Token utility

USDC is a fully-reserved stablecoin, which is a type of cryptocurrency, or digital asset. Unlike other cryptocurrencies that fluctuate in price, USDC is designed to maintain price equivalence to the U.S. dollar. USDC is a stable store of value that benefits from the speed and security of blockchain technology.

Links

Website:https://www.usdc.com/

Whitepaper:https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf

X:https://twitter.com/circle

GitHub:https://github.com/centrehq/centre-tokens

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What is the development prospect and future value of USDC?

The market value of USDC currently stands at $42.91B, and its market ranking is #8. The value of USDC is widely recognized by the market. When the bull market comes, the market value of USDC will likely continue to increase.

Moreover, if USDC can play a greater role in practical applications, such as USDC builders fully leveraging the potential of USDC, partnering with more businesses, and increasing its user base, the long-term value of USDC will be significantly enhanced.

What will the price of USDC be in 2025?

Based on USDC's historical price performance prediction model, the price of USDC is projected to reach $1.56 in 2025.

What will the price of USDC be in 2030?

In 2030, the USDC price is expected to change by -17.00%. By the end of 2030, the USDC price is projected to reach $2.74, with a cumulative ROI of +174.51%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of USDC and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

USDC price USDC price prediction USDC news

Is USDC worth investing or holding? How to buy USDC from a crypto exchange?

If you want to buy USDC, the following information may be helpful for your investment decisions:

In the last seven days, the price of USDC has risen by 0.02%, leading to positive returns for most USDC investors. The market is currently optimistic about the price trend of USDC.

It is important to note that the current price of USDC has retreated by -57.43% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether USDC is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in USDC or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of USDC, if you want to buy or sell USDC, you can consider Bitget for your trading needs. The best place to buy USDC is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in USDC has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy USDC. Here's a step-by-step guide on how to buy USDC on Bitget.

Buy USDC now Coin buying guide

How to get USDC through other methods？

Using cash to buy USDC is not the only way to obtain USDC. If you have the time to spare, you can get USDC for free.

Learn how to earn USDC for free through the Learn2Earn promotion.

Earn free USDC by inviting friends to join Bitget's Assist2Earn promotion.

Receive free USDC airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to USDC through Bitget Convert, Bitget Swap, or spot trading.

What is USDC used for and how to use USDC?

The use case of USDC may expand as the crypto market and the project itself develop. Currently, you can use USDC to achieve the following goals:

Arbitrage by trading USDC: Since USDC is a frequently traded cryptocurrency, the price of USDC is always fluctuating. Earn more USDC by buying low and selling high on the exchange. Bitget spot market provides a variety of USDC trading pairs to fully meet your needs.

Earn by staking USDC: You can also generate income through financial management methods such as staking USDC or lending USDC. Bitget Earn offers a variety of financial products designed to help you earn more income from your USDC.

Send or pay USDC: If you want to give USDC to your friends, a charity, or a fundraiser, or you want to pay someone with USDC, you can quickly and easily send USDC to the recipient through their payment address.

You can also go to the official website of the USDC project to learn more about the use cases of USDC. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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