USDC

USDC: A Stablecoin with Reliable Deposits

USDC was introduced in 2018 by Circle as the first collateralized stablecoin. But do you know which crypto sites accept USDC for deposits? Fortunately, you’ve come to the right place, and below you’ll find a list of the top crypto sites that support USDC deposits.

As a stablecoin, USDC maintains a constant value of $1, with each coin being backed by an equivalent amount in US dollars held in a separate bank account. USD Coin provides the advantages of cryptocurrencies without the risks associated with price volatility. Currently, USDC ranks as the fourth largest cryptocurrency by market capitalization, following BTC, ETH, and Tether. For this reason, most reputable crypto exchanges accept USDC for deposits.

There are 27 crypto trading sites that support USDC, along with 232 crypto casinos that accept USDC as a deposit method, as shown in the toplists below.

Summary

USD Coin is one of the most trusted stablecoins due to its high level of transparency. The coin is backed by actual US dollars, ensuring no risk of price volatility. You can always trade USDC at a value of $1. As one of the largest cryptocurrencies, many crypto sites accept USDC for deposits.

What is USDC?

USDC operates on the Ethereum blockchain, meaning that ETH is needed to pay for transaction fees when using USDC. As an open-source protocol, anyone can use it for payments. While USDC ranks below Tether, it has distinct advantages, such as its high level of transparency, as it is audited by the US accounting firm Grant Thornton LLP. This firm issues monthly attestations regarding the reserves backing the coin.

USDC Costs

USDC transactions take place on the Ethereum blockchain, and transfer fees must be paid in ETH. The fees depend on blockchain congestion but typically average around $20. However, USDC is compatible with many other networks where transfer fees are significantly lower. For example, Solana requires just $0.00025 for a transaction.

Transaction Speed for USDC

USDC transactions typically take between 5 and 20 minutes. Since the coin is compatible with multiple blockchains, using networks like Algorand can significantly reduce transaction time. For example, Algorand-based USDC transactions take only 5 seconds, and Avalanche-based transfers can be completed in 2 seconds.

USDC Deposits: How to Do It?

1. Log in to your crypto exchange account.
2. Navigate to the payment section of the website.
3. Select USDC from the list of available deposit methods.
4. Enter the amount you wish to deposit and confirm the transaction.
5. Complete the transaction using a verification method.

Which Are the Main Countries Where USDC is Used?

USDC is used in numerous countries, particularly those with high inflation. Countries like Costa Rica, the USA, Mexico, and Guatemala are notable users of USDC. However, it cannot be used in countries where cryptocurrencies are banned, such as China and North Korea.

Can You Withdraw with USDC?

Yes, USDC can be used for withdrawals. As a widely accepted coin, it is supported as a withdrawal method by many crypto exchanges.

Reputation of USDC

USDC is one of the most reputable stablecoins due to its audit by a trusted firm. Developed by Coinbase and Circle, two companies known for their high ethical standards, USDC has gained popularity. Circle, the creator of USDC, has over 93,000 followers on Twitter, where much of the discussion about the stablecoin takes place. The main alternative to USDC is Tether.

USDC FAQ

Here are some of the most frequently asked questions about USDC:

• Is it safe to use USDC for cryptocurrencies? Yes, USDC is a secure stablecoin backed by real assets. However, be cautious when making transactions as they cannot be reversed. Also, avoid clicking on suspicious links in emails, as they could be phishing attempts.
• How do I set up USDC? To set up USDC, you need to first register with a crypto exchange. You can then purchase USDC on exchanges like Binance, which can be used for deposits and withdrawals.
• Is USDC instant? The transaction speed of USDC depends on the blockchain. If you use scalable networks like Solana and Avalanche, the transactions will be completed instantly.
• When was USDC founded? USDC was launched in 2018 by Circle and Coinbase.
• Where is the parent company based? Circle is based in Boston, and Coinbase Global operates out of San Francisco.
• Does USDC only work on Apple devices? USDC can be used on Apple devices, but it is not limited to iPhones or iPads. It also works on Android and Windows devices.