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USD Coin (USDC) is a stablecoin released by popular exchange Coinbase in collaboration with payments company Circle in 2018. Backed by the US Dollar on a 1:1 ratio, the token is an ERC-20 token that can be purchased on Coinbase’s platform. Coinbase has said that it chose the Ethereum protocol because of its smart contract capabilities and strong developer support.
Like other stablecoins, it is intended to help traders overcome the volatility of the market. Coinbase has said that it is part of its mission is to “build an open financial system for the world”, and it does indeed allow anyone from across the world to purchase the stablecoin and use it for trading and various services.
Stablecoins often receive scrutiny relating to whether or not the issuing entity has enough reserves to back every token up, but Coinbase assures users that the holding accounts are closely monitored and audited. USD Coin is an example of a fiat-backed stablecoin, which is often what receives the greatest scrutiny.
Having one very specific purpose, there is not much in the way of development news for USD Coin. Coinbase is however working on making it more widely available, including on more exchanges and services.
17 Jun 2020 2 minute read 0 comments Mabla
At beginning of the bitcoin Era around 2010 2 pizzas were bought with 10 000 bitcoin. since bitcoin was claimed to be capable of replacing the current traditional payment system and it proved it can then that’s when people started to adopt bitcoin an...
15 Jun 2020 1 minute read 1 comment Mabla
As the name mentions it is self-explanatory, these coins are very safe and wise to purchase currently. For the past few days the crypto market has been falling due to some factors and investors are losing the value of their money stored in the crypto...
14 Jun 2020 1 minute read 0 comments Panzer
BitPay just launched a prepaid Mastercard that lets US customers instantly convert their crypto into fiat without conversion fees and can then spentd it anywhere Mastercard debit is accepted around the world. The customers can also use their cards on...
12 Jun 2020 7 minute read 2 comments Crypto adict (Manu VZ)
NO CRYPTO EXPERIENCE REQUIRED. There is a growing market participating in Decentralized Finance (DeFi), a system with which PoolTogether interacts and that increasingly attracts more people, both specialists and curious. PoolTogether is not only a ne...
11 Jun 2020 1 minute read 0 comments Lodhfiaz
You surely know it and you may have already noticed it, our banks are not huge fans of cryptocurrencies. They don't trust the blockchain system, warn you about a widespread scam or they just see it as a threat to them. There are many reasons for this...
10 Jun 2020 1 minute read 0 comments kointimes
What is a USD Coin? How is taken What is a USD Coin? The USD currency is a cryptocurrency that is implemented by Circle. Circle, which has 8 million followers, managed to introduce cryptocurrency to the world and collect demands. The USD currency is...
4 Jun 2020 3 minute read 5 comments CryptoMarketing
What are Stablecoins and how are they different from other cryptocurrencies? One of the major criticisms of bitcoin and other cryptocurrencies (NOT Stablecoins) is that their price is extremely volatile. Most cryptocurrencies could see price fluctuat...
3 Jun 2020 1 minute read 2 comments Abhi_nan
US-based exchange Coinbase on June 2 emailed its users that it would be decreasing the interest rate for its stablecoin USD Coin (USDC) from an annual yield of 1.25% to 0.15% - an 88% drop in return rates for holders. Saying that they periodically as...
31 May 2020 2 minute read 2 comments cryptoforcanadians
If you're Canadian, then you know just how difficult it can be to find a solid crypto exchange in Canada. The exchanges in Canada all lack a lot of things or features that good exchanges have. Some of these include lots of volume, low trading fees, a...
24 May 2020 1 minute read 0 comments Panzer
Civic Wallet is a digital wallet that provides a safe, easy way for you to send, receive, and store digital currencies. Civic Wallet is free to download and use. Small fees may apply to certain digital currency transactions, and a small fee may be ch...
