Knowing what USDC (USD Coin) is will provide alternative options for you in determining the best crypto asset choice. This type of crypto asset has certain specifications with a number of advantages.
Here we present information about what USDC (USD Coin) is and how the transaction system works. We hope that you will understand USDC better and may be interested in investing with it.
A stable system and its value on par with international currencies make USDC one of the crypto assets you should consider. Especially for those of you who still have doubts about the good and bad effects of digital finance.
What is USDC (USD Coin)?
USDC Coin is an asset created by Circle (a financial services company in America) and built on the Ethereum system. Ethereum is a decentralized blockchain system that has many advantages regarding data security and transaction speed.
If you have previously owned Ethereum-based crypto assets, you can integrate USDC with other assets in your Ethereum wallet.
USDC Coin is one type of digital stablecoin in the Cryptocurrency system. Stablecoins are referred to as a type of crypto asset whose coin value is stable.
The name USDC or USD Coin refers to the American dollar currency. The USDC Coin is a crypto asset that is valued in US dollars. Therefore, these coins tend to be stable in value.
Basically, what is USDC (USD Coin) focuses on efforts to convert US dollars into tokens in the world of blockchain and cryptocurrencies. Its main goal is to simplify, speed up and expand the spread of transactions using US dollars.
Each 1 USD Coin can be exchanged for 1 US dollar. The value of these crypto assets tends to be stable and there is no risk of price fluctuations. This is because each asset is backed by a definite value (booked).
In other words, the value per USDC asset is held in an account with a financial institution regulated by the United States. So, the management is more secure.
USDC Transaction System
This stability opens up the possibility for USDC to move globally from a crypto wallet to business transactions, currency exchange and other financial needs.
This stability opens up the possibility for USDC to move globally from a crypto wallet to business transactions, currency exchange and other financial needs.
Anda dapat dengan mudah mengubah USDC ke dolar Amerika. Pada akhirnya, Anda juga bisa menukar USDC Coin ke rupiah atau mata uang lain.
3 Stages of Converting American Dollars to USDC Assets
After listening to the description of what USDC (USD Coin) is, you might be interested in trying to invest in this asset. USDC investments can be made easily, especially if you have funds in US dollars. You only need to go through the following 3 stages to tokenize US dollars to USDC, namely:
- Transfer of US dollar deposits to a USDC coin issuing bank account.
- The issuer uses a USD coin smart contract to convert the amount into USD coins.
- The newly minted USD coins will be sent to the user’s account and US dollars are kept in reserve.
You can convert USDC back to US dollars in the same way, namely by sending USDC coins to another US dollar based account. You don’t have to worry because there is no charge for converting USDC to US dollars.
Meanwhile, to convert USD Coin to rupiah, you can take the above method first. Send USDC to your bank account. Your assets will be instantly converted into US dollars.
After that, exchange the money into rupiah through the money changer service provided by your bank. The amount of funds received in rupiah depends on the conversion of the rupiah value per 1 US dollar.
USDC is different from other types of stablecoins. Unlike Theter’s stablecoins, USDC offers a guaranteed ratio with the equivalent currency. So, you don’t have to worry about falling asset values when trying USDC (USD Coin).
Hopefully the above article can educate you about what USDC (USD Coin) is and how it works. Good luck investing and trading with USDC and other crypto assets!
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