What is USDC?
USD Coin (USDC) is a type of stablecoin, a cryptocurrency that is pegged to the value of a fiat currency, in this case the US dollar. This coin was launched in 2018 by the financial technology company Circle in cooperation with the cryptocurrency exchange Coinbase. Since then, the USDC currency has gained popularity and is one of the ways to store digital assets.
USDC can operate on various blockchain networks: Ethereum, Tron, Solana, Binance Smart Chain, and others. Depending on this, the cryptocurrency will be called USDCoin TRC20, USDCoin ERC20, USDCoin BEP20, and so on. Therefore, one should be very careful when specifying the network address to receive a specific token.
One of the important advantages of USDC is that the coin is fully backed by a reserve of US dollars. This guarantees the stability of its value in the market. Information about the reserves of the USDC currency is published in the form of attestations by the American accounting firm Grant Thornton LLP.
USDC is actively used in e-commerce, for peer-to-peer payments, and decentralized financing. USD Coin is a popular choice for traders and investors who want to avoid the instability of other cryptocurrencies. USDC can be easily transferred and stored, traded on different exchanges and platforms, making it a convenient and flexible tool for users.