What is USD Coin (USDC)?
USD Coin (USDC) is a stablecoin developed by the Centre Consortium, a collaboration between CoinZoom and Circle Internet Financial (Circle). Circle is the issuer of USDC. All issuers use a reserve bank account to hold US Dollars that back USDC in circulation. Each USDC represents a single US dollar (USD), and is meant to not move up and down significantly in terms of its exchange rate.
USDC, a Digital Dollar
- It is a 1:1 representation of a single US dollar on the Ethereum blockchain
- Each USDC is 100% collateralized by a corresponding USD held in bank accounts of the issuer, subject to regular public reporting of USD reserves
- USDC follows the ERC20 standard and can thus be used with any app that accepts tokens based on that standard
- This means a stable digital dollar can now be used to buy any digital item in the crypto ecosystem
- Programmable dollar that can be utilized by developers and fintech businesses
How do I buy USDC on CoinZoom?
Coinzoom customers can buy USDC on CoinZoom.com and in the CoinZoom iOS and Android apps.
Purchased USDC tokens will be displayed as an asset within your CoinZoom wallet on CoinZoom.com or in the CoinZoom mobile app.
Can I send USDC to CoinZoom?
Yes, but only to the USDC wallet in your CoinZoom account. Do not send USDC to any CoinZoom wallet addresses other than your USDC wallet. CoinZoom will not be able to recover tokens sent to the wrong address.
When sending USDC from CoinZoom to another address or exchange, please make sure the recipient supports USDC. If you send to an external (non-CoinZoom) address or wallet that does not support USDC, you will need to directly contact their support team for assistance.