Circle USDC is a fiat-backed, Ethereum blockchain based stablecoin created by Circle, an American financial services company. It was released in September 2018 and is backed 1:1 with the United States dollar (USD).
The main purpose of Circle USDC is to bridge the gap between traditional finance and digital assets. By creating a token that has its value pegged to the USD, it offers users access to fast, secure and low cost payments while maintaining stability of their funds. This makes it attractive for merchants who want to accept cryptocurrencies but also need assurance that they will not suffer losses due to volatility in crypto prices.
By using ERC20 tokens built on top of Ethereum’s public infrastructure, transaction costs are minimized as well as settlement times which make Circle USDC suitable for both large scale institutional investors or small retail traders alike. Furthermore, there are no counterparty risks associated with this cryptocurrency since all deposits are 100% insured through FDIC insurance up $250k per account holder at partner bank Prime Trust LLC .
In order for customers to use Circle USDC they must first open an account either directly from circle or from one of their partners such Coinbase or Poloniex exchanges where you can buy/sell/trade your coins easily once you have set up your wallet address correctly with them . After setting up your wallet address you can then start buying/selling/exchange any amount without limitation within seconds 24 hours a day 7 days a week making trading across different markets easier than ever before! Finally when withdrawing money out of Circule’s system into real world currencies , fees may apply depending on how much withdrawal volume occurs each month ranging anywhere between 0%-0.5%.
