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A few weeks after the circle Coinbase also announced that customers can now buy, sell, send and receive from USC on Coinbase. A USDC is a chip that is exactly $ 1. Its value will remain stable against the US dollar – hence the name stablecoin for this type of coins.
Unlike traditional crypto-currencies, you can be sure that the value of your USDC portfolio will not fluctuate so crazy. This opens up new possibilities and use cases.
While Coinbase you can keep dollars in your Coinbase account, it's not safe. If someone hackers your account, you may end up with an empty wallet. That's why you should always try to control the keys to your wallet and move your coins into a safer wallet, such as a wallet, or at least a software solution like MyEtherWallet.
But if you want to reduce crypto-currencies without returning your dollars to your bank account, you can now convert your chips into US dollars. In this way, it will be easier to buy cryptocurrencies in the future. And maybe you can avoid paying taxes by hiding your chips at the tax authorities …
USDC also works as an ordinary token. You just need a wallet address to send the USDC. USDC is an ERC-20 token, which means that it exploits the blockchain and the Ethereum ecosystem.
But stable parts need to be regulated more closely. Circle, Coinbase and many other companies have created the CENTER consortium to define fixed currency policies. For example, if you want to manage stable euro coins on your exchange, you need to send regular audited reports that prove you have as many USD in a bank account as tokens issued.
With Coinbase and Circle on board, it's clear that the USDC is starting well. Let's see if there is enough interest to create other stable currencies based on the euro, the CNY and other fiduciary currencies.
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