Stablecoins come as a new breed of cryptocurrencies, that have gained the interest of investors since they are less prone to price volatility. This makes them useful as a store of value and a medium of exchange. There are popular names under this category including Tether, USD Coin, Pax Dollar, Binance USD, TrueUSD, Dai, and Digix Gold Token. Well, today we are going to discuss whether it is a wise decision to invest in USDC crypto or not.
About USDC crypto
Looking at a brief history of USDC, stablecoin has made a mark in the crypto space in a very quick time. It was launched in 2018 by Circle company in September. This stablecoin is pegged to USD or US dollar. The circulation of USD coin is backed by 1 dollar that is kept in reserve by a certified financial institution. This process certifies every coin has a value of 1 dollar, despite what happens in the crypto market.
Extreme transparency is one big factor that sets USDC apart from other cryptocurrencies. Giving an example, a monthly report is published by Circle giving the details of the US dollar it keeps in reserve and experiences daily audits by independent accounting companies. This openness makes USDC the most reliable stablecoins on the market and ensures the safety of investors’ money.
USDC: The second-most popular stablecoin after Tether
After Tether (USDT), if there is any other second-largest stablecoin according to market capitalization, then it is the USDC crypto. The latter stablecoin has been accepted on a wider scale in being listed on so multiple exchanges like Binance and Coinbase and is supported by Circle.
Some numerous platforms and businesses use USDC, and this has resulted in the increase of its market capitalization to $53 billion. The widely used cases and support make USDC a trusted and safe bet for those willing to invest in cryptocurrency.
Contrary to other digital currencies which are prone to high volatility, USDC ensures its users’ stability and a probable way to do investments, save, and shop online. Adding one more interesting point, to enhance the further utility of USDC, big firms like PayPal, Visa, and Mastercard have come up in support of it. This rising support and acceptance will certainly make USDC crypto investment in the long term.
Committing to transparency and stability, USDC is all set to make a big influence on the future of crypto finance. For those who have been looking for the stable and safest way for crypto investment, USDC comes as the top pick for sure. Coinomi, Ledger Nano S, MetaMask, Zengo, and Atomic wallet are some of the best USDC wallets of 2022 to consider.
Merits of investment in USDC
When it comes to investment in cryptocurrency, then one should be prepared for tolerating risks. But in the case of USDC crypto, it is indeed a good choice to go with. There are reasons to prove it.
Less prone to volatility
One of the major benefits of USDC that makes it different from other cryptocurrencies is it’s being less prone to volatility. And this is what drags investors’ interest who want any potential losses in doing investment in volatile assets.
Easier to buy and sell on exchanges
USDC is regarded as one of the stablecoins that are used on a wider scale. With high liquidity, the stablecoin one can easily purchase and sell USD coins on exchanges. Moreover, there is always a ready market for it.
A stablecoin you can trust upon
USDC crypto is considered the most trusted and reliable stablecoins on the market. It is backed by mainstream financial institutions. The auditing of its reserves is done daily. All these advantages bring assurance to investors that their investment in USDC is the right decision in terms of safety.
If you want to choose USDC for investment, then you are most welcome to proceed with it, as it guarantees the protection of your privacy. It is built on the Ethereum blockchain and is famous for ensuring security. Adding another advantage, USDC applies the ERC20 token standard providing high-level protection to the personal information of the users.
It can be used anywhere around the globe
USDC is a stablecoin that finds its use around the globe, meaning, it can be used in any part of the world. This again comes as another reason why USDC proves to be the right pick for investors in dealing with transactions internationally or say for sending money overseas to their dear ones (friends or family).
Investment in any cryptocurrency whether it is USDC crypto or any other is a very risky affair. So one must be well-prepared with his mind to take the risk. However, it is advised that one must deposit that much amount that he can afford to lose in case there is a negative trend in the market. And with that being said, USDC comes as the best choice for a stable investment. With it, you can expect lesser risks in comparison to other crypto assets. Log on to Cryptoknowmics to know more about USDC wallets 2022.