Hello binancians, ✍️ here you have a detailed explanation about USDC:
1. What is USDC?
USDC (USD Coin) is a cryptocurrency known as a "stablecoin". Its value is pegged 1:1 to the US dollar, meaning that 1 USDC is approximately equal to 1 USD. This is achieved by backing each USDC with real assets, helping to maintain its stable value.
2. What is USDC used for?
USDC is primarily used to facilitate fast and secure transactions within the cryptocurrency ecosystem. You can use USDC to buy other cryptocurrencies, transfer funds between platforms, or as a store of value during times of high market volatility. Additionally, it is possible to convert USDC to fiat currencies like the euro or the US dollar on platforms like Binance.
3. Functioning and key features
When you sell USDC in exchange for fiat currency, the USDC is "burned", meaning it is removed from circulation to maintain parity with the dollar. USDC is widely accepted and used in the crypto world for its transparency and stability, being one of the most recognized stablecoins alongside USDT.
Would you like to know how to buy or use USDC on Binance?
