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Buy USDC (USDC) in Ireland With EUR | CoinJar
USDC
USDC
Overview
What is USDC?
USDC (USDC) is a type of that is backed by the U.S. dollar. Unlike other cryptocurrencies that have volatile prices, USDC is designed to maintain a stable value of one USDC equal to one U.S. dollar. This makes USDC a stablecoin, a digital currency that aims to provide a reliable and convenient way to store and transfer value using blockchain technology.
How does USDC work?
USDC is issued by a private company called .
Circle claims that every USDC in circulation is backed by a corresponding U.S. dollar or other approved assets held in segregated accounts with regulated U.S. financial institutions. These accounts are regularly by an independent accounting firm to ensure that the USDC supply matches the reserve assets.
You can buy USDC with fiat currency (such as Pound Sterling, USD or EUR) or other cryptocurrencies (such as Bitcoin or Ethereum) on various platforms, including CoinJar. You can also sell USDC for fiat currency or other cryptocurrencies on CoinJar.
What are the benefits and risks of USDC?
One of the main benefits of USDC is that it seemingly offers low price volatility, meaning that its value does not fluctuate significantly over time. This makes USDC suitable for storing and transferring value without worrying about losing purchasing power due to market fluctuations.
USDC can also be used as a hedge against inflation, as it is pegged to the U.S. dollar, which is considered a relatively stable currency.
This however means that the value won’t rise, it will stay stable. Customers may expect that these coins will always maintain their value with the US Dollar.
USDC is backed by U.S.-regulated reserve assets. Unlike some other stablecoins that have faced controversies over their reserve management and compliance, USDC provides regular and verifiable reports on its reserves and operations.
However, after successful audits in 2019, 2020 and 2021, there was a failed audit in 2022.
Circle hired Deloitte for the 2023 audit, and the results are .
There are risks with stablecoins, however, please see below.
Buy using a bank transfer!
Buy USDC using a bank transfer. Get cash in your account with SEPA. Convert crypto-to-crypto with a single click.How to buy USDC with CoinJar
Start your cryptocurrency portfolio with CoinJar by following these steps.
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Frequently asked questions
What is USDC?
USDC (formerly USD Coin) is a digital currency that is redeemable 1:1 for US dollars.
It is built for rapid global payments and 24/7 financial markets. USDC uses a blockchain infrastructure.
What is USDC and why should I buy USDC?
USDC (USD Coin) is a stablecoin cryptocurrency that is designed to maintain a 1:1 value with the US dollar. When you buy USDC, you're purchasing a digital asset that USDC says is backed by US dollar reserves. This makes it an interesting entry point for cryptocurrency trading and DeFi activities. USDC aims to offer the stability of traditional currency with the benefits of blockchain technology.
How can I buy USDC in Ireland?
You can buy USDC through CoinJar's cryptocurrency exchange. Irish customers can purchase USD Coin using a bank deposit, or by trading other cryptocurrencies.
What payment methods can I use to buy USD Coin (USDC)?
CoinJar accepts bank deposits for buying USDC. You can also trade Bitcoin and other cryptocurrencies for USDC on our exchange.
Is USDC a safe stablecoin to buy?
USDC is one of the most trusted stablecoins in the cryptocurrency market. Circle, the issuer of USD Coin, says they back each USDC token with US dollar reserves.
How do I store USDC after buying it?
After you buy USDC, you can store it in your CoinJar wallet or transfer it to an external crypto wallet. CoinJar provides secure storage for your USD Coin holdings with institutional-grade security measures. For enhanced security, consider using a hardware wallet for long-term USDC storage.
Can I use USDC for trading other cryptocurrencies?
Absolutely! USDC serves as an excellent trading pair for buying and selling other cryptocurrencies. Many traders use USD Coin as a stable base currency to trade Bitcoin, Ethereum, and other crypto assets. USDC's stability makes it ideal for timing market entries and exits with less exposure to volatility.
What are the fees for buying USDC on CoinJar?
CoinJar offers competitive fees for buying USDCl. Credit card purchases aren’t currently accepted. Check our current fee structure on the CoinJar platform for the most up-to-date pricing information.
How is USDC different from other stablecoins?
USDC is a USD-pegged stablecoins, USDC offers greater transparency through regular audits and regulatory compliance. Circle publishes regular attestations of USDC reserves, providing users with confidence in the coin's backing. This transparency makes USDC a preferred choice for institutional and retail investors.
Can I sell USDC back to USD on CoinJar?
Yes, you can easily sell USDC back to EUR on CoinJar. The platform supports seamless conversion between USD Coin and EUR, allowing you to withdraw funds to your bank account. This flexibility makes USDC an excellent bridge between traditional finance and cryptocurrency markets.
What is DeFi and how can I use USDC for DeFi activities?
DeFi (Decentralised Finance) refers to blockchain-based financial services that operate without traditional intermediaries. USDC is widely used in DeFi protocols for lending, borrowing, yield farming, and liquidity provision. Its stability and widespread acceptance make USD Coin an ideal asset for participating in the growing DeFi ecosystem.
Is buying USDC suitable for beginners to cryptocurrency?
Yes, buying USDC is often recommended for cryptocurrency beginners due to its stability and ease of use. Unlike volatile cryptocurrencies like Bitcoin, USDC aims to maintain a stable value. It's an excellent way to familiarise yourself with crypto wallets, exchanges, and blockchain technology.
How long does it take to buy USDC on CoinJar?
The time to buy USDC depends on your chosen payment method. Bank deposits may take 0-3 business days to process. Once your payment is confirmed, USDC will be credited to your CoinJar account immediately, allowing you to start trading or using your USD Coin right away.
Your information is handled in accordance with CoinJar’s .
CoinJar Europe Limited (CRO 720832) is registered and supervised by the Central Bank of Ireland (Registration number C496731) for Anti-Money Laundering and Countering the Financing of Terrorism purposes only.
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