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However you won’t be able to use any of these options until you’ve added more security to your account and verified your identity. Click the check box to confirm you’re over 18 and click ‘create account’. Kraken is regulated by the Financial Conduct Authority (FCA) as a Registered Cryptoasset Firm. There are a number of fully licensed, registered issuers of USDC and their US dollar holdings are audited monthly to ensure that the USDC network remains fully backed at all times. Buy, earn, swap and borrow against your USDC instantly and securely on Nexo. You can also choose to complete a purchase with Apple Pay or Google Pay.
Instead Binance has built a US based exchange- but it does not allow the purchase of USD Coin. The process of sending Bitcoin varies by exchange, but the guide you used to buy Bitcoin will also explain how to send it. Once the review process has passed you will be asked to add your credit card or debit card details to Binance. Once your account is secured, return to the dashboard and click ‘security’.
How to Buy USD Coin (USDC)
Learn how to bridge assets from Ethereum to Polygon, enhancing efficiency with Layer 2 solutions. Yes, owning, purchasing, and trading USD Coin (USDC) is lawful in the United Kingdom. Currently, the UK’s Financial Conduct Authority (FCA) does not restrict the use of USDC or other stablecoins. Notably, Kraken presents a compelling case with its favourable fee structure, offering 0.16% for maker orders and a 0.26% fee for taker orders on USD Coin (USDC) transactions.
- Once you’ve found the perfect exchange, you’re ready to buy USDC.
- Ledger is your gateway to buy, store and manage your USD-Coin securely.
- For example, if a trader wants to exchange one small-cap currency for another, the exchange might not offer a direct trade between the two because the market is too small.
- Because USDC is pegged to the US dollar, it can go up and down in value compared to other currencies, such as the British pound.
- Before you invest, you should get advice and decide whether the potential return outweighs the risks.
You will need to create a USD-Coin account on Ledger Live, to connect your Ledger hardware wallet and to verify your identity. Once you buy your USD-Coin using your payment card or a bank transfer, it will be how to buy usdc automatically sent to your hardware wallet, and thus secured. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions.
Coinbase – Beginner friendly; Crypto card; 240+ Cryptoassets
Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales. Content is for information purposes only and is not investment advice. Investing in cryptocurrency comes with risk.Upon purchase of USDC, you will be automatically opted into rewards.
- USD Coin is worth buying if you want a cryptocurrency pegged to the US dollar.
- In line with the regulations, Coinbase users must verify their identities by submitting a government-issued passport, driver’s license, or national identity card.
- This is a high‑risk investment and you should not expect to be protected if something goes wrong.
- As an ERC-20 token on the Ethereum blockchain, USDC boasts liquidity, accessibility, and adaptability.
- Before buying USDC, you may want to check the market conditions.
- Exchanges have widely different user interfaces, fees and rules.
USDC reserves are held in the custody and management of leading US financial institutions, including BlackRock and BNY Mellon. Each month, Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, provides third-party assurance as to the size of the USDC reserve. While cryptocurrency prices can fluctuate wildly on a daily basis, reserve-backed stablecoins like USDC are generally much less volatile, hence the name. Stablecoins like USDC, etc., can be used to send funds globally cheaply and almost instantly without a traditional bank account and earn rewards on USDC held in a Coinbase account. Users should navigate to the order box and select the convert button. Select the cryptocurrency you want to swap for USDC, and enter the amount in US dollars.
What Is USD Coin?
Moreover, the platform offers over 200 other cryptocurrencies, including features for margin trading and staking. Buy USDC with card or instant bank transfer and get up to 0.5% in crypto rewards back. USDC maintains its peg to the US dollar by burning and minting new coins in conjunction with deposits and withdrawals.
Every month, we’ll send you The Plug – a curation of the best personal finance content in the UK. We share real-life stories, how-to guides, top personal finance news, popular community questions, and tips to help you stay on top of your money. At this stage, there are no indications or concerns about its position, and in the future, it looks to continue its role in the crypto sector.
Step 3: Buy USD Coin on Cex.io
After you buy USD Coin, you can transfer it to anyone across the globe, as long as you know their USD Coin wallet address. USDC’s stability is built upon its reserve system, https://www.tokenexus.com/what-is-atom-cosmos-crypto-review/ where every issued USDC token corresponds to a reserved US dollar. This strategic reserve approach effectively cements the connection between USDC and US dollar values.
This article will give you a step-by-step guide on how to buy USD Coin (USDC) on Coinbase. Fast delivery, good online tutorials, the cold wallet has support for multiple apps and also supports ‘staking’ using Ledger Live. If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can buy USD Coin.