What is USDC ?
Q1: What is USDC?
Answer: A digital dollar that is pegged 1:1 to the US Dollar
Q2: Which entity issues USDC?
Answer: Circle
Q3: What backs every USDC?
Answer: Highly liquid cash and cash-equivalent assets.
Q4: What feature makes USDC distinct from other cryptocurrencies?
Answer: Its value is backed by US dollars.
Q5: What ensures the transparency and security of USDC reserves?
Answer: Monthly attestation reports published by Circle.
Q6: Select an advantage of using USDC over traditional banking methods?
Answer: Near zero transaction cost
Q7: How quickly can USDC transactions typically settles?
Answer: in seconds.
Q8: Which of the following best describes the use cases of USDC?
Answer: USDC allows for quick peer to peer transactions, can be spent with marchants, and is used for trading.
