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What can you do with USD Coin?
Store/Hold USD Coin
Many users hold on to their USD Coin with the expectation of it increasing in value. You can store your USDC safely on your Bitget account or on our crypto wallet app BG Wallet, the most user-friendly and secure mobile wallet.
Trade USD Coin
You can trade USD Coin for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for USD Coin trading to meet your needs.
Send USD Coin
Yes, Bitget allows you to easily transfer value around the world, fast. You can buy USD Coin online and send to anyone and anywhere with their USD Coin address.
Spend USD Coin
You can also buy goods and services with your USD Coin. More and more vendors and retailers accept USD Coin every day.
Donate USD Coin
Bitget Charity accepts USD Coin donations for global projects that aim to improve the lives of people in the bottom billion. You can donate USD Coin so no one misses out on the growth made possible by blockchain.
Learn More About USD Coin
You can read more in-depth articles on USD Coin from Bitget Research and study how cryptocurrencies like USD Coin work on Bitget Academy
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What is USD Coin (USDC)?
USD Coin (USDC) is a USD stablecoin issued by CENTRE, a consortium created by Coinbase exchange and a fintech company called Circle. Its value is pegged to the US dollar by fiat currencies and commodities at a 1:1 ratio, which means that 1 USDT is equal to 1 USD.
USDC was first launched as a ERC-20 token in 2018, and has since expanded to other major platforms. 2021 was a big year for the stablecoin as Visa started to accept payments made with USDC.
While there are many USD stablecoins in the market, USDC stands out amongst the crowd because it is created by a regulated entity that is registered with the US government as a Money Service Business. Besides being regulated, reserves backing USDC are audited by Grant Thornton on a monthly basis, ensuring the value and liquidity of the cryptocurrency.
How USD Coin (USDC) Works
USDC is a fiat and commodity collateralized stablecoin, which means that for every USDC token issued, there is a dollar or a dollar value in dollar-denominated assets. To maintain the balance between the reserve and the amount of USDC, new USDC is minted every time you use fiat to buy USDC and the fiat is deposited into the reserve; likewise, when you sell USDC to get fiat, the fiat is transferred from the reserves to your bank account and the sold USDC is burned.
How Many USD Coin (USDC) Tokens Are in Circulation?
According to the data by the parent company Circle, there are 48.7 billion USDC in circulation as of September 2022. USD 48.8 billion is kept in USDC reserves, in which 10.2 billion is in cash and the remaining 38.6 billion in short-duration US treasuries.
How to Buy USD Coin (USDC)
Consider investing in USD Coin (USDC)? It only takes 2 minutes to create an account on Bitget and start trading USDC.
Check out the available USDC trading pairs on Bitget!
Futures market
Spot market
USD Coin (USDC) Resources
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