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What Is USDC stable coin and Its Exchange Guide from Godex?

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The crypto world is not all about Bitcoin and Ethereum. There are many other crypto projects and in this comprehensive guide, we’ll discuss stable coins and in particular USDC. You’ll learn what is a stable coin, how it is used in crypto transactions, the specificity of USDC, and its application plus the quick guide on how to exchange USDC to other cryptos.

What is a stable coin?

For a currency, in general, stability is seen as its purchasing power (which can be measured relative to an underlying asset or a basket of goods, say) and is desirable so that it can function as a unit of account. 

The crypto world needs to have stability within a range of currency values for both upside and downside protection. This in turn will support in protecting incomes, savings, business margins and allow for more reasonable business planning and forecasting when transacting or saving in this medium. Something akin to a buy wall of a generic currency peg, which prevents the price of the currency from dropping, and a sell wall, which prevents a large upward spike, is necessary to maintain a stable value of a cryptocurrency that is comparable to fiat price stability. Only then will can it be considered a legitimate medium of exchange and store of value by day-to-day users, merchants, and savers. That’s how stable coins appeared in the crypto world, making it more reliable for investors worldwide. 

What is USDC and why is it important and needed?

USDC affords a thoroughly collateralized US dollar stable coin or is based over the beginning supply asset-backed stable coin fabric constructed by Centre.

As the crypto property has major in their respect or adoption, it’s become vital in accordance with keep able to use fiat currencies because of payments then trading. A price-stable coin equivalent to the USD (and comparable secure currencies such namely EUR, GBP, JPY, RMB, etc.) is fundamental for enabling mainstream acceptance of blockchain technological know-how for payments, as like nicely so in imitation of help maturation into pecuniary contracts timbered over smart settlement platforms, such as tokenized securities, loans, and property.

Existing procedures have lacked financial or operational transparency, hold scratched of unregulated offshore jurisdictions including unknown banking then balance partners, then have been shaped as closed-loop ecosystems or halted supply technologies.

USDC solves these problems by way of providing an answer together with elaborate monetary then operational transparency, running inside the systematic skeleton about US cash transmission laws, along with hooked up banking partners and auditors, and is built on an open-source framework with an open membership scheme.

How to Exchange USDC?

In most cases, investors keep stable coins in periods of significant volatility of a crypto market. You might need to transfer 1 usdc to btc once the Bitcoin price goes down and transfer money back when it goes up earning on the price margin. 

At one of the anonymous cryptocurrency exchange like GoDex you can do this in several simple steps:

  1. Enter the exchange
  2. Select the coins you plan to exchange
  3. Specify the transferring amount and your wallet

The transaction will be processed during the next 30 minutes at a fixed exchange rate determined at the moment of exchange.

Final thoughts on USDC

As you’ve learned in this guide USDC is a stable coin based on the Ethereum network that can be described as a digital dollar used in crypto transactions. You can use it to buy any digital item in the crypto ecosystem and easily exchange it for any popular cryptocurrency. This coin works as a reserve currency for the period of strong market volatility and protects investors from the corresponding risks.

CEO of Penske Media Group. Experienced Content Editor with a demonstrated history of working in the newspaper industry. Spoken on stages around the globe - NYU, US Embassy, P&G Toronto, and much more.

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