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How to buy USD Coin (USDC) in the United States

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To buy USD Coin (USDC) in the United States, all you need is a bank account, disposable funds, and a computer or phone to access a reputable exchange. USDC is one of the most popular stablecoins on the crypto market. Whilst it runs on the same blockchain technology as other cryptos, such as Bitcoin or Ether, its value does not experience the same level of volatility as its more unpredictable counterparts. USDC’s value is tied to the value of the U.S. dollar at a 1:1 ratio, making it a much more stable digital currency for payments, as the receiver can be sure the received funds will retain their value. 

Interested in buying USD Coin (USDC) in the United States? This article takes a closer look at stablecoins as a crypto category, the story behind USDC, and how to acquire this popular stablecoin.

What are stablecoins?

Stablecoins are a type of cryptocurrency whose value is directly tied to the value of another currency, such as dollars or euros, or a commodity, such as gold. In the case of USD Coin, that currency is the U.S. dollar. The objective behind the introduction of stablecoins into the crypto market is to provide a more stable and reliable alternative to the highly volatile market, where the value of the most popular cryptocurrencies, such as Bitcoin or Ether, can swing by hundreds or even thousands of dollars each day. This level of volatility can be the very reason traders are so attracted to this market. However, in order for cryptocurrencies to become a medium of exchange and payment, there must be other more stable options available, ensuring those who accept these currencies will retain the same level of purchasing power. 

The story behind USDC

USD Coin (USDC) is a stablecoin created to maintain a steady value reflecting that of the U.S. dollar, providing stability amidst the volatile cryptocurrency market. Originally launched in 2018 by Centre, a collaboration between Circle and Coinbase, USDC uses blockchain technology, just like any other crypto, and adheres to stringent regulatory standards, operating within U.S. money transmission laws. Centre also has a publicly transparent reserve of USD, which makes it a reliable currency, unlike some of its other stablecoin counterparts. Launched on the Ethereum blockchain, USDC offers a stable and dependable form of payment within the crypto space. With a market cap of over $33 billion worth at the time of writing, it is among the most popular stablecoins and currently ranks sixth in market capitalization among all cryptocurrencies. 

How to buy USD Coin (USDC) in the United States

To purchase USDC in the United States, it’s important to bear a few steps in mind before you begin. Firstly, find a suitable cryptocurrency exchange that operates within the U.S. Crypto exchanges are like online marketplaces that allow you to convert dollars into an array of cryptocurrencies and stablecoins, including USDC. Before choosing an exchange, it is wise to research different platforms to find the one that matches your preferences. Exchanges differ in terms of user interface, fees, security measures, and the variety of cryptocurrencies and stablecoins they offer. As USDC is one of the most popular stablecoins on the crypto market, almost all exchanges will offer it. 

Once you have chosen an exchange, you are free to purchase USDC. Even though the value of USDC is hedged to the value of the U.S. dollar, there is still a risk involved in purchasing cryptocurrencies. As such, it is important to only invest funds you can afford to lose. In select cases, it is also possible to purchase USDC through ForumPay. Please contact us to find out more and see whether you are eligible. After acquiring USDT, it should be stored in a cryptocurrency wallet, which could include hardware wallets, paper wallets, software wallets, or built-in wallets provided by certain exchanges, such as Kraken or Gemini. 

How to spend USD Coin (USDC) with ForumPay

Having acquired USD Coin, spending it is a matter of finding a merchant that accepts crypto. All merchants and businesses that have enabled ForumPay, for example, are able to accept USDC as payment. ForumPay’s crypto-to-FIAT payment gateway solution allows merchants to accept a host of popular cryptocurrencies and receive FIAT money as payment. For crypto-consumers, the process is just the same as paying with a debit or credit card. When it comes to paying for the chosen goods or services, the payment in USDC will be processed by ForumPay as a seamless transaction using the funds from the consumer’s crypto wallet. 

Become a ForumPay Referral Agent

If you have USDC but your favorite merchant or business does not yet accept crypto, why not refer them to ForumPay? By referring a merchant or business and becoming a Referral Agent, you will earn commissions on each transaction they make (subject to terms and conditions), which will be sent directly to your crypto wallet. To find out more about the ForumPay Referral Program, crypto payments, and more, visit forumpay.com, or get in touch with a member of our team by emailing [email protected].

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ForumPay does not disclose financial advice. Anything shared is strictly to inform, entertain, or share thoughts and ideas. Please seek a registered financial advisor if you are looking for financial advice.

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