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Bitbuy | Buy USD Coin

Did someone say stablecoin? Bridging the gap between digital and fiat currencies, USD Coins are redeemable 1:1 with the U.S. Dollar. Compared to other major cryptocurrencies, stablecoins like USDC have historically faced much less volatility, opening the door for many different applications. With more than 100 billion USDC issued and a reported 10,000% growth in 2 years, let’s get you introduced to Bitbuy’s first listed stablecoin!

USD Coin: A Primer

The USD Coin was first launched in 2018 from an open-source project between fintech company Circle and Coinbase. This token falls within the category of a stablecoin, which are a type of cryptocurrency that have their value tied to a reserve asset to reduce volatility in their price.

What makes USDC so attractive to investors is that each token is pegged to 1 USD, or an equivalent held in reserve. Tokens are bound to their equivalent asset in the reserve by smart contracts which are legally binding agreement executed by a computer program and recorded on the blockchain.

USDC stands out among other stablecoins because it is fully collateralized and is subject to regulation. The reserve that backs the value of USDC is audited on a monthly basis by American accounting firm Grand Thornton for transparency.

Although it was originally an ERC-20 token based on the Ethereum blockchain, USDC has evolved to be compatible with 7 more layer 1 blockchains including Solana, Stellar, Algorand, and TRON. USDC tokens can only be minted once the equivalent value is deposited, and they are burned once that money is withdrawn to maintain consistency in their value.

Investors of USDC have found many different applications for this stablecoin. Some more experienced traders have used it to stabilize the value of their portfolio while others have found it practical for transferring money in USD without the hassle of going to the bank. That being said, there are countless more applications for this stablecoin to help diversify your portfolio.

How to Buy and Sell USD Coin with Bitbuy

Now you must be wondering how you can add USDC to your own crypto wallet… It’s actually very easy to get started! Here are a few quick steps you will need to take.

• Create an account on Bitbuy.ca with your phone number and email address to verify your identity
• Once your identity has been confirmed, transfer funds to your account using e-transfer or bank wire
• We’ll let you know once your money has been deposited and then you’ll be able to start buying, selling, and trading USDC along with many other digital tokens available on our platform

Easy, practical & stable

With as little as $50 in your Bitbuy account, you can begin buying, selling, and trading immediately.

Stablecoins like USDC are making a huge impact on the world of decentralized finance by changing the way USD is transferred around the globe. With more than 175 different countries supporting the use of USDC, the applications for this coin continue to grow. Are you ready to jump into the world of digital assets? You can start here with USD Coin! Happy trading!