$USDC USDC (USD Coin) enables very fast financial transactions at low costs compared to traditional banking systems.
The main reasons for this are:
1️⃣Built on blockchain technology: USDC relies on blockchain technology, allowing transactions to settle in minutes or even seconds, unlike traditional bank transfers that can take days, especially for international transfers.
2️⃣Global access 24/7: USDC transactions are not subject to banking hours or holiday restrictions. They can be sent and received at any time from almost anywhere in the world, as long as there is internet access and a compatible digital wallet.
3️⃣Bypassing intermediaries: USDC transactions reduce the need for many intermediaries present in traditional payment systems (such as banks and credit card companies), resulting in generally lower fees. Often, the cost is a small fraction of a cent, although there are network fees (gas fees) that vary depending on the blockchain network and current congestion.
4️⃣Stability: As a stablecoin pegged to the US dollar at a 1:1 ratio, USDC provides stability in value, making it a reliable means of payment without the price volatility experienced by other cryptocurrencies.
These features make USDC an attractive option for cross-border payments, micropayments, e-commerce, and financial transfers in general 😇😇.
