Best For

  • Traders
  • Financial Institutions
  • Exchanges
  • Investors

USD Coin (USDC) is a stablecoin pegged to the US Dollar. Issued by Circle, USDC is backed 1:1 to the US Dollar with customer funds held in segregated FDIC insured bank accounts. USDC is the second largest stablecoin by market cap and is exclusively issued as an ERC-20 on the Ethereum blockchain.

USD Coin Stablecoin - 2020 Comprehensive Review

Overall Score:

9.5
Trusted
Liquidity:
9 of 10
Transparency:
9.5 of 10
Ease of Use:
9 of 10
Trust:
9 of 10
Fees:
9.5 of 10
Security:
9.5 of 10

USD Coin Stablecoin Overview

TickerUSDC
Current Price$1.00
24H Volume$219,496,687.29
Market Cap$2,739,423,834.00
Circulating Supply2,735,559,911
Market Rank12
Collateral TypeFiat-Backed
Base CurrencyUSD
ExchangesCoinbase Pro, Binance, Poloniex, Kucoin, Bitfinex, OKEx, Bitmax, Huobi Global, Gate.io, KyberSwap, IDEX, Uniswap, HitBTC, Oasis Trade, Kraken
BlockchainsEthereum
Hardware WalletsLedger, Trezor
Deposit InsuranceNo
Audit FrequencyMonthly
Minimum Purchase100
Minimum Redemption100

USD Coin (USDC) Exchanges

ExchangeRatingPricePairs24hr Volume
Binance8.5/10$1.0019$21,723,126.01
Coinbase Pro8/10$1.0110$2,876,642.72
HitBTC3.5/10$1.005$1,989,626.12
Poloniex6/10$1.0017$1,291,638.99
Kraken7.5/10$1.005$948,571.50
Huobi Global8/10$1.001$289,181.75
OKEx7.5/10$1.002$169,861.31
Kucoin7.5/10$1.003$92,434.84
Bitmax5/10$1.001$59,317.01
Uniswap7/10$0.981$34,184.41
Gate.io6.5/10$1.002$24,294.40
Bitfinex7/10$1.002$13,288.08
KyberSwap7.5/10$1.001$2,073.85
Oasis Trade7/10$0.000$0.00
IDEX6/10$0.682$0.00

USD Coin (USDC) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

USD Coin Borrow Rates

PlatformAPR RateCollateral LTVLoan Amounts
Compound0%50% - 75%$1 - $100,000
Celsius Network3.46% - 6.26%25% - 50%$1,500 - $1,000,000
Nuo Network2.26%50% - 70%$25 - $1,000,000
BlockFi4.5% - 13.25%20% - 50%$5,000 - $1,000,000

USD Coin Interest Rates

PlatformAPY RateLockup TermsDeposit Amounts
Compound354800.00%Flexible$1 - $100,000
Nuo Network0.03%Flexible$1 - $100,000
Celsius Network11.55%Flexible$1 - $100,000
Nexo8%Flexible$1 - $2,000,000
Crypto.com6% - 10%3 Months$25 - $1,000,000
BlockFi8.6%Flexible$1 - $1,000,000
Coinbase Rewards0.15%Flexible$1 - $1,000,000

USD Coin Stablecoin Alternatives

Rating9.5/105/108.5/10
Collateral TypeFiat-BackedFiat-BackedFiat-Backed
Audit FrequencyMonthlyInfrequentMonthly
Deposit InsuranceNoNoYes
Incorporated CountryUnited StatesBritish Virgin IslandsUnited States
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Native ERC20 - USDC is exclusively minted and used on the Ethereum blockchain. As a result, anyone can verify the circulating supply and monitor transactions. USDC can also easily be stored in a variety of personal crypto wallets.
  • Coinbase Featured Stablecoin - Coinbase has selected USDC as it’s featured stablecoin guaranteeing an exchange rate of 1:1 (USDC:USD). USDC can easily be withdrawn for USD to user bank accounts.
  • Liquidity - USDC is the second most most liquid stablecoin behind USDT and is traded on a majority of the biggest cryptocurrency exchanges.
  • Monthly Audits - Audits are performed regularly by accounting firm Grant Thornton to ensure that USDC is backed 1:1 by US Dollars in segregated bank accounts. Circle, Ltd. frequently publishes these reports.
  • Regulated & Compliant - Circle, Ltd. is fully regulated and licensed by the NYDFS (New York State Department of Financial Services) to do business in the US. The NYDFS is the nation’s toughest financial regulator.
  • Strong Institutional Backing - Circle, Ltd. has received multiple rounds of venture capital and is extremely well funded for operations.

Cons

  • Centralized - USDC is minted, maintained, and operated by Circle, Ltd. Centralized stablecoins can be frozen or confiscated in cases where a user is deemed to have broken regulatory laws or acted in an illegal capacity with the asset.
  • Purchase & Redemption KYC - In order to redeem USDC for fiat, users must undergo KYC and provide identity documentation to Circle, Ltd. This is very standard procedure, and only a negative for privacy focused users.

Frequently Asked Questions

What is USDC?

Is USDC safe?

Where can I buy USDC?

Where can I sell USDC for USD?

Can I earn interest on USDC?

Summary

USDC is a highly transparent stablecoin with above average liquidity. The circulating issued supply has seen consistent growth with a current market cap of over $400M USD. Monthly audits released publicly in addition to strong institutional backing have instilled investor confidence in the stablecoin.

Coinbase has recently expanded USDC availability to over 100 countries worldwide. Beyond trading utility, the efforts of both Coinbase and USDC have enabled unbanked citizens in any country to access a US dollar based asset through just a mobile phone.

USDC is our highest rated stablecoin. Circle, Ltd. has done an excellent job creating a secure, liquid, transparent, and easy to use stablecoin with several deposit and redemption options.

As Coinbase’s preferred stablecoin, USDC is here to stay and is an excellent choice for both retail and institutional investors.

Learn More Best Features

USD Coin Official Website

  • Issued and backed by Circle and Coinbase where you can always Trade 1 USDC to 1 USD.
  • Growing liquidity in the DEFI ecosystem that can be used across many Dapps and Lending platforms.
  • Great market liquidity on BTC/USDC pairs on major international exchanges like Binance and US exchanges like Coinbase and Kraken.

Legal & Regulation - Facts & Figures

Legal NameCircle Internet Financial Limited
Incorporated CountryUnited States
HeadquartersBoston, MA United States
Year Founded2013
CEOJeremy D Allaire
Total Employees 251-500
Regulators Money Services Business with FinCEN
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The stablecoins found in this category have been researched extensively by our team as part of the review process. Factors we analyze in our stablecoin reviews and comparisons include: trading volume, listings, purchase and redemption process, issuer trust, collateral type, borrow rates, interest rates, and wallet compatibility.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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