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Choose your quick section of our USD Coin review below.
A Quick Overview of our USD Coin Review:
USDC was designed to facilitate the onboarding process as result of the complex nature of User interfaces and the functionality offered by cryptocurrencies.
USD Coin Live Price
What is USD Coin?
USD Coin, or USDC, is a stablecoin that is pegged to the US Dollar in addition to being backed by US dollars which are held in reserve. According to USDC Stablecoin’s whitepaper, USDC was developed for beginners who want to enter the cryptocurrency market without being subjected to high costs and volatility, for which the crypto market is inherently known.
Key Features and Takeaways of USD Coin
USDC is one of the most popular cryptocurrencies today and it has the following key features and takeaways:
USDC was designed to facilitate the onboarding process as result of the complex nature of User interfaces and the functionality offered by cryptocurrencies.
USDC is an equivalent of a US dollar and aims to ensure that the price remains stable, especially as cryptocurrencies are known for their excess volatility and sudden changes in price.
USDC was released by Circle in collaboration with Coinbase, resulting in the CIRCLE consortium.
USDC is the first stablecoin that was listed on the largest cryptocurrency trading platform, Coinbase, and there were various partnerships between Circle and Coinbase in the development of the underlying technology of USDC.
USDC is listed on several other major cryptocurrency exchanges and it also helped bootstrap the liquidity of the stablecoin rapidly. Since it became available for trading in more than 80 countries, USDC saw a significant increase in popularity.
Another factor that made USDC popular is the emergence and spread of Covid-19 in 2025 when investors started using USDC as a hedge against fiat currencies.
USDC also gained a lot of traffic as result of developments in the decentralised finance (DeFi) sector.
During 2025, USDC’s circulating supply exceeds 14.3 billion, showing growth of more than 500%.
In August 2025, the CENTRE consortium revealed the updated version of USDC, USDC 2.0, which had advanced functionality for digital wallets in addition to other services that support stablecoin.
Previously, holders of USDC and other ERC20-based tokens had to pay gas fees to use the platform, however, this was a barrier to mass adoption which was removed in the update, allowing for wallet developers to pay commissions on behalf of their clients, or allowing them to charge fees directly in USDC tokens than in Ether.
USDC is issued accordingly by financial institutions and is backed by fully reserved assets which are redeemable on a 1:1 basis for US dollars, governed by CENTRE, which is a membership-based consortium that sets the technical, policy, and financial standards for various stablecoins.
USDC, as an ERC20 token, offers possibilities for payment services, lending, investing, and trading. The ecosystem continues to grow as other tokens and the tokenisation of goods and services increase along with widespread adoption.
Smart contract facilities have also become fundamental building blocks in the value of exchange, and they ensure that the price can remain stable and pegged against the US Dollar.
USDC is typically used for quick remittances as well as various payments around the world. Users only need a compatible wallet and internet connection to utilise censorable interoperable transactions with USDC.
USDC, as opposed to other fiat currencies, offers a wide range of uses which includes leveraged trading of up to 100 times the user’s initial deposit, low-cost and secure transactions.
USDC can also be used in the DeFi sector when users buy cryptocurrency products in DApps.
USDC also guarantees transparency as result of regulation and the full support by the United States institutional bodies and entities.
The adoption of USDC is also backed by a combination of crypto properties and the guarantee of its value which is granted by major cryptocurrency giants.
USDC’s transparency is highly assessed by experts, especially when considering that Tether (USDT) and Bitfinex’s reputation was compromised following an investigation by the New York Attorney General’s offer.
USDC is creating great value for the entire blockchain ecosystem and it is rapidly growing to become the largest stablecoin industry and ecosystem in the world, with hundreds of companies, products, and various services that currently support the USDC standard, including but not limited to digital wallets, exchanges, DeFi protocols, savings and lending services, and a variety of payment services.
USD Coin Mining
USDC is a stable coin and has its value pegged to that of the US dollar. For this reason, USDC cannot be mined as it is available as ERC 20, Algorand ASA, and Solana SPL tokens which can be purchased using US Dollars on several major exchanges.
USDC has a 1:1 value with the actual US Dollar, giving it with a significant stability in the market. It was initially an ERC20 token which has expanded to the Algorand and Solana blockchains.
How does USDC work?
Once a user has completed the “know your client” or KYC, process, they can link their bank account and make a transfer in US Dollars. This money is then converted to USDC and users can exchange or trade it for other cryptocurrencies.
In addition to this, users can also convert their USDC back into US Dollars, which will subsequently be wired back into their bank account.
How can users use USDC?
USDC is used to trade it for other cryptocurrencies on major cryptocurrency exchanges. Users can also use USDC in a wide range of decentralised finance (DeFi) applications and protocols. For instance, users can deposit USDC to loan platforms that offer users with interest in return for lending their crypto to other users.
USDC is typically held as a stable asset by cryptocurrency traders in the same way that Tether and DAI is held. Stablecoins are especially useful for traders who need an easy, effortless way to trade cryptocurrencies in exchange of US dollars.
Seeing that one USDC is equal to one US dollar, it is a good way to trade more volatile cryptocurrencies such as Bitcoin.
USDC is a fiat-collateralised coin which is centralised and all projects in this category work in the same fashion, displaying only minor key differences. Fiat-collateralised stablecoins release regular attestations and it is backed by the US dollar.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| USDC is fast becoming the most popular stablecoin, closely following USDT | The field associated with stablecoins is competitive and USDC is second to USDT |
| USDC is creating great value for the entire blockchain ecosystem | |
| USDC is backed by a combination of crypto properties and the guarantee of its value which is granted by major cryptocurrency giants |
Transaction Fees
| Type of fees | Information |
|---|---|
| Withdrawal Fees | From 15 ZAR |
Should you buy USD Coin?
Traditional investors have shown that they are wary of cryptocurrencies for two main reasons namely the lack of regulation and volatility for which the market is known. With new waves of stablecoins such as USDC, amidst several others, many platforms are trying to change this, allowing for them to become a gateway for well-established institutions who wish to invest.
USDC is set to have constant and stable development, especially when considering that USDC transactions comply with the United States remittance law. In recent years, USDC has also proven its popularity early among investors, according to several analysts.
In recent years, stablecoins have gained significant traction since the market sees significant volatility from major cryptocurrencies such as Ethereum and Bitcoin. Stablecoins, like USDC are not thought to be faced with this type of volatility.
In addition to this, USDC continues to be listed on several platforms including being listed on one of the most popular, user-friendly exchanges, Luno, early in 2025, with further expansion expected in coming years.
How to buy USD Coin (USDC)
Step 1 – Open an account on Binance
Navigate to the official Binance website and select “Register Now”. You will be redirected to a “Create a Free Account” where you can either register with your email address or your mobile number.
You can enter your email address and user-selected password or select the “Mobile” option at the top of the form. Select your country code and enter your mobile number along with your user-selected password.
Once you have completed the necessary fields, you can read and accept the Terms of Service before selecting “Create an Account”.
You may have to complete a Security Verification that will confirm that you are not a robot. Next, there is an account verification. During this, a 6-digit verification code is sent to the email address or mobile number that you provided. The code is only valid for 30 minutes and must be entered in the blocks provided on this page.
Once the verification is completed, a welcome page will load, and you will be given the options through which you can either trade or purchase cryptocurrency. If you are new to crypto, you can visit the “Learn More” Section at the bottom of the page.
Step 2 – Secure account with two-factor verification
On the trader’s dashboard, select the option to secure your account with two-factor verification. Even though phone verification is a secure option, the most preferred and secured method is to make use of the Google Authenticator.
Once downloaded and installed, either scan the QR code or type in the one-time, unique code provided to add your Binance account credentials onto Google Authenticator.
Once completed, write down the back up key provided to recover your account on Google Authenticator in case you lose or misplace it. In the final step, enter the 6-digit code which you will receive on your registered email address along with the Google verification code.
Step 3 – Deposit funds
Binance allows for the purchase of cryptocurrencies via fiat deposits as well as cryptos. Deposits can be accessed from the following locations:
The “Welcome to Binance” banner.
Hovering over “Buy Crypto” at the top of the webpage and selecting your preferred method.
Selecting “Deposit” on the “balance details” section on your traders dashboard.
Once you have selected the option to “Deposit”, you can select whether you wish to deposit cryptocurrencies from another wallet, or whether you want to make a fiat deposit.
For Crypto deposits, follow these steps:
Select your coin between Bitcoin, Ethereum, TetherUS, BNB, or ETC.
Select the network to be used between BEP2, BEP20 (BSC), ERC20, or TRC20 and accept the conditions for using the network.
Copy the address or scan the address QR code from the wallet where you are depositing and follow further prompts. Kindly note that each network has its own set of network confirmations between 1 up to 15 confirmations before the deposit will be done.
For deposits in Fiat currencies, follow these steps:
Select the deposit currency from the dropdown list. To gain access to more currencies, it is necessary to verify your identity and face.
Select the payment method to be used, depending on the currency chosen.
Enter the deposit amount and any other details. Kindly note that the transaction fee will be displayed along with the balance after this is subtracted.
Continue with the deposit.
Step 4 – Start Trading
Once you have completed your deposit, you can navigate to the “Markets” section at the top of the page to view the available cryptocurrencies. From here, you can buy, sell, and trade currencies at competitive prices.
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Frequently Asked Questions
When was USD Coin first launched?
It was first launched in September 2018.
Who founded USD Coin?
It was founded by Circle in collaboration with Coinbase.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was USD Coin’s ICO and how much did it raise?
USDC did not have an ICO.
Is USD Coin legit?
Yes, USDC is a legitimate and reputable stablecoin which is listed on most major cryptocurrency exchanges.
What is USD Coin’s total supply?
There is no maximum supply. There is currently a circulating supply of 14 billion USDC.
What is the purpose of USD Coin?
It tokenizes US dollars and facilitates use over the internet as well as public blockchains.
On which blockchain is USD Coin based?
USDC is based on the Ethereum blockchain and has since expanded to the Algorand and Solana blockchains.
Does USD Coin work with smart contracts?
Yes, USDC makes use of smart contracts.
Does USD Coin have potential to become more valuable?
USDC is pegged to the US Dollar and as the USD appreciates and depreciates, the value of USDC will rise and fall, respectively.
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