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#BinanceTurns8 Join us in the #BinanceTurns8 celebration and win a share of up to $888,888 in BNB! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_5RWM1 I have successfully collected 7 but the eighth one is left.
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$USDC **What is USDC?** **USD Coin (USDC)** is a type of **stablecoin**—a cryptocurrency pegged to the value of the US dollar (1 USDC = $1). It was launched in 2018 through a collaboration between **Circle** and **Coinbase** under the Centre Consortium. Unlike volatile cryptocurrencies like Bitcoin or Ethereum, USDC maintains a stable value, making it ideal for payments, trading, and decentralized finance (DeFi) applications. --- **How Does USDC Work?** USDC operates on **blockchain technology**, primarily on **Ethereum** (as an ERC-20 token), but it has expanded to other networks like Solana, Avalanche, and Algorand. - **Backed by Reserves**: Every USDC in circulation is backed by **cash and short-term U.S. Treasury bonds**, held in reserve by regulated financial institutions. - **Transparency**: Monthly audits by accounting firms (like Grant Thornton) verify that reserves match the circulating supply. - **Smart Contracts**: USDC can be used in DeFi protocols, exchanges, and cross-border transactions with minimal fees. --- **Key Features of USDC** ✅ **Stability**: Pegged 1:1 to the US dollar, reducing volatility. ✅ **Fast & Low-Cost Transactions**: Cheaper and quicker than traditional banking. ✅ **Widely Accepted**: Used in crypto trading, remittances, and DeFi platforms. ✅ **Regulated**: Compliant with U.S. money transmission laws. --- **USDC vs. Other Stablecoins** | Feature | USDC | USDT (Tether) | DAI | |--------------|------|--------------|-----| | **Backing** | Cash & Treasuries | Mixed reserves (cash, loans, etc.) | Crypto-collateralized | | **Transparency** | Monthly audits | Irregular reporting | Fully transparent (on-chain) | | **Issuer** | Circle & Coinbase | Tether Ltd. | MakerDAO (decentralized) | | **Regulation** | Highly regulated | Less transparent | Decentralized |
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