What coin is USDC?

While USDT is used more frequently for trading and payments, USDC is often described as a safer stablecoin since Centre makes a greater effort to comply with audits and governmental regulation, and has more transparent, fully-backed reserves.

USDC is an alternative to other USD backed cryptocurrencies like Tether (USDT) or TrueUSD (TUSD) . In a nutshell, USD Coin is a service to tokenize US dollars and facilitate their use over the internet and public blockchains. Besides, USDC tokens can be changed back to USD at any time.

Stablecoins are commonly backed by reserve assets like dollars or euros to achieve price stability. 1 The price stability of USDC contrasts sharply with the notorious price fluctuations of other cryptocurrencies like Bitcoin and Ethereum.

USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar . USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.

Using USDC allows you to buy, sell, and transfer funds while remaining in the cryptocurrency ecosystem . Instead of having to cash out to your traditional bank, you can hold USDC which is pegged to the US dollar.