What is USD Coin? Price, history, wallets [UPDATED Nov 2024]

USD CoinUSDC1.00$ -0.01%

A USD stablecoin by Coinbase and Circle

8 Rank

37.36B$ Market Cap

11.10B$ 24H Volume

USDC price live chart

1.00$-0.01%

USD Coin Price statistic

USD Coin price

1.00 $

Price change (24h)

0.01% 0.00 $

Trading volume (24h)

11.10B $

Market Dominance

1.10%

Market rank

All Time High

Oct 3 2018 (6 years ago)

8.25% 1.10 $

Market Cap

37.36B $

Circulating Supply

37.37B USDC

Download USD Coin wallet app

Store & Transfer USDC safely

Cropty is a convenient mobile app to store, transfer and receive USD Coin safely. Cropty supports multiple networks and cryptocurrencies. Investing in USDC becomes easy with Cropty wallet.

Monitor your USDC balance in USD

You can track your USD Coin value in 11 fiat currencies: USD ($), RUB (₽), EUR (€), INR (₨), THB (฿), KRW (₩), UAH (₴), GEL (₾), TRY (₺), GBP (£), BRL (R$).

Receive USDC in ETH, BNB, TRX, AVAX networks

Cropty cryptocurrency wallet supports Bitcoin, Ethereum, BNB Chain, Polygon and Tron networks. To receive USD Coin in Ethereum (ERC-20), Binance smart chain (BEP-20), Tron (TRC-20), AVAX C-Chain (AVAXC) networks, just download the app, sign up and share your public address or QR-code with the sender.

Send USD Coin by mobile phone number with 0% fee

No more confusion with crypto public addresses: in the Cropty cryptocurrency wallet you can send USD Coin just by mobile phone number, QR-code and even a nickname! Make instant zero-fee USD Coin transfers in your usual ways.

USDC wallet mobile app for iOS and Android

Get access to USD Coin right in your mobile phone or any browser. Cryptocurrency investments wallet is already available for Android and iOS. Download Cropty to invest in USD Coin online.

USD Coin basics

Name

USD Coin

USD Coin token type

Token name

USDC

Token type

ERC-20

Token uses

Payments

What is USD Coin used for in 2024?

USDC can be transacted over the Ethereum blockchain in the same manner as Ether or any other ERC-20 asset. If a user wishes to redeem USDC they can send tokens to an address controlled by CENTRE members who will destroy the tokens and transfer fiat currency to the user's bank account. USDC’s existence on public blockchains allows traders and exchanges to use USDC as an alternative to fiat currencies allowing them to outsource their banking needs to CENTRE. USDC existence as an ERC-20 token on Ethereum allows it to be integrated with Ethereum based applications. In addition to being used a method of payment, USDC can also be lent, borrowed, staked, and traded using DeFi protocols.

USD Coin technology explained

USD Coin is the first implementation of CENTRE's fiat-back stablecoin network, launched as an ERC-20 compliant token on Ethereum. USDC relies on a proof-of-reserves system to ensure that reserve assets match circulating tokens.

CENTRE contracts manage the minting and the redemption/burning of stablecoins, which can be used for both the exchange and wallet interoperability use cases. Customers who on-board through a stablecoin on-ramp, such as a web application created and maintained by a licensed CENTRE token-issuing member, can transfer fiat funds into that CENTRE issuer’s account. The issuer then executes a series of commands with the CENTRE network to verify, mint, and validate fiat tokens pegged to the value of those deposited funds. The customer can then transfer those tokens elsewhere in order to use them. Redemption follows the reverse sequence: fiat tokens are burned when a customer visits an off-ramp such as a web application maintained by a licensed CENTRE issuing member. Upon successful verification and validation, funds from underlying fiat reserves would be transferred to the customer’s external bank.

USD Coin core contributors

CENTRE Consortium

Founded in 2018, the CENTRE consortium, a is partnership between Circle and Coinbase created to develop price-stable crypto assets and network protocols. CENTRE consists of price-stable crypto assets, network protocols, and business rules which were implemented in early form over the past several years by Circle, where the existing technology supports significant active daily transaction volume. CENTRE plans to create a network scheme to manage the creation, redemption, and flow of these assets under a new organization independent and separate from Circle

Circle

Circle is a financial technology company building tools for retail and institutional users of digital assets. It was founded by Jeremy Allaire and Sean Neville in 2013, and includes four primary products: Circle Pay, its original consumer web wallet, Circle Trade, its OTC trading business (and primary profit center), and Poloniex, a cryptocurrency exchange it acquired in 2018 for a reported $400 million. As of March 2019, Circle had around 300 employees across its five offices, including hubs in Boston, New York and London.

Coinbase

Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. Founded in June of 2012, Coinbase is one of the world's oldest and largest digital currency wallet and exchange platforms. They have served 20 million users and have processed $150 billion of digital currency transactions as of December 2018.

USD Coin supply limit

General Emission Type

Burn & Mint

Precise Emission Type

Other Burn & Mint models

USD Coin supply curve details

Users create new tokens by depositing fiat currency into regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. CENTRE notes that issuers are required to regularly report their USD reserve holdings, and Grant Thornton LLP issues reports on those holdings every month. Tokens are destroyed when users send tokens to an address controlled by CENTRE members.

USD to USDC converter

USD

USDC

USD Coin consensus

General consensus mechanism

n/a

USD Coin governance

What is USD Coin governance?

CENTRE members are the sole entities capable of altering the circulating supply of USDC tokens. Members issue tokens when users deposit fiat currency into CENTRE member bank accounts while CENTRE members destroy tokens when users redeem tokens for fiat currency deposits in CENTRE member bank accounts. In order to prove that reserves exist and the system is solvent, USDC relies on a proof-of-reserves system whereby the system is fully collateralized when the number of USDC in circulation matches the value of the funds held in accounts operated by CENTRE members. CENTRE published monthly reports with attestations from Grant Thornton LLP proving the US dollar reserves that back the USDC tokens in circulation.

Monthly Transparent Reports

The CENTRE consortium currently has two members: Coinbase and Circle.

USD Coin official links

USD Coin blockchain explorers

Etherscan

FAQ

1.What is the best app to store USD Coin?

Store USD Coin with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account with Face ID or Touch ID security options.
Transfer USDC from external wallet.

2. How can I receive USD Coin?

Receive USD Coin to your Cropty wallet by QR-code, phone number, e-mail and nickname:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set up a nickname.
Click ‘Receive’ and follow the instructions.

3. How can I store USD Coin safely?

You can transfer your USD Coin holdings and store it safely with Cropty wallet. Cropty secures safety of your holdings through various verification options like using password, authenticator app, Face ID, Touch ID and backup codes. You can be sure no one can get access to you USD Coin holding except you.

4. How to start investing in USD Coin easily and securely?

Start investing in USD Coin with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set your authentication settings.
Transfer USDC from external wallet.

5. Why should I choose Cropty to store and transfer Bitcoin?

The Cropty wallet provides the most convenient application for storing and transfering USD Coin. Cropty targets to become one the best crypto wallets for Android and iOS in 2024. Cropty provides convenient application and secure custodial services, built for crypto beginners, as well as for crypto-savvies.

6. How can I receive USD Coin as payment?

You can receive USD Coin as payment in Cropty wallet. It is a convenient mobile app to receive, store and transfer USD Coin USDC safely and instantly. Open Cropty app, click ‘Receive’, follow simple instructions and get your USD Coin holdings immediately.

7. How can I receive USD Coin donations?

You can receive USD Coin donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.

8. Can I send USD Coin without verification?

9. How can I send USD Coin without fee?

You can send USD Coin instantly without fee in the Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Send’, choose ‘Send via e-mail, phone number or nickname’ and follow simple instructions.

10. How to make money with USD Coin?