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USD Coin price calculator

Use the USD Coin price calculator to convert prices for USDC trading pairs and for all markets on the BTC Markets exchange.

About USD Coin (USDC)

USD Coin (USDC) is a stablecoin that is pegged to the U.S. dollar. Every unit in circulation is backed by $1 that is held in a mix of cash and short-term U.S. Treasury bond reserves. USD Coin is developed by the Centre consortium who are obligated to provide full transparency and work with a range of financial institutions to maintain full reserves. All USDC issuers are required to regularly report their USD holdings. USDC is an ERC-20 token and can be used with every app which supports the standard.

Using USD Coin (USDC) price information

USD Coin price information is useful for monitoring market value, evaluating portfolio performance, and gaining a better understanding of market sentiment.

Frequently asked questions

What is USD Coin (USDC) and how does it work?

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin. Stablecoins are designed to maintain a stable price relative to a fiat currency, which, in this case, is the U.S. dollar. In other words, USDC is pegged to the value of the US dollar, with 1 USDC equivalent to 1 USD.

USD Coin operates on the Ethereum blockchain and follows ERC-20 standards. It is issued by Circle, a fintech company, and is backed by a reserve of US dollars held in regulated financial institutions.

How is the value of USD Coin (USDC) maintained at $1 USD?

USDC is created through a process known as tokenisation, where US dollars are deposited into banks and an equivalent amount of USDC tokens are minted and issued by regulated financial institutions to maintain a 1:1 backing with fiat currency.

USDC maintains its peg to the US dollar through a combination of regular auditing and backing with actual US dollars held in reserve accounts.

If the demand for USDC increases, more tokens can be minted if the equivalent amount of dollars is held in reserve. Although, if there's a surplus of USDC, tokens can be redeemed for US dollars to keep the value stable.

Are there historical USD Coin (USDC) price trends available?

Yes, historical price trends for USD Coin (USDC) are available. Typically, due to its peg to the US dollar, USDC has been relatively stable since its inception, with a price of around 1 USD. However, there have been occasional price fluctuations from this peg.

What is the difference between USD Coin (USDC) and other stablecoins?

USDC differs from other stablecoins due to its strong regulatory compliance, value stability, and transparency. It's regulated by financial authorities and complies with recognised standards set by official bodies. This provides users with assurance of its stability and legitimacy.

Find out the latest USD Coin news

This Week in Crypto: 16th February 2023
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This Week in Crypto: 16th February 2023

Read more - This Week in Crypto: 16th February 2023
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