The easiest way to make money with USDC is through an exchange or specialized lending platform. These services lend your USDC to borrowers and pay you with yield (APY) for doing so, similar to a high-interest savings account with a bank.
What is USD Coin (USDC)
USD Coin (USDC) is a relatively fresh stablecoin pegged to the US dollar. It was launched on September 26, 2018, in collaboration between Circle and Coinbase. USDC is an alternative to other USD backed cryptocurrencies like Tether (USDT) or TrueUSD (TUSD).
In a nutshell, USD Coin is a service to tokenize US dollars and facilitate their use over the internet and public blockchains. Besides, USDC tokens can be changed back to USD at any time. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Bringing US dollars on the blockchain allows moving them anywhere in the world within minutes, and brings much-needed stability to cryptocurrencies. Also, it opens up new opportunities for trading, lending, risk-hedging and more.
Read More: USDC vs. USDT – Which Stablecoin Is Better In 2022?
How to Earn USD Coin (USDC)
Trade USD Coin (USDC)
You shouldn’t have any trouble buying USD Coin. Because of how widely used this stablecoin is, a number of crypto exchanges sell it. Here are a few of the major exchanges that have USD Coin:
If you’re ready to buy USD Coin and assume the risks of cryptocurrency investment, it only takes a few steps to get started:
- Choose a Crypto Exchange
To buy USDC in the U.S., you’ll need to use a crypto exchange. A cryptocurrency exchange is an online marketplace where you can buy and sell crypto.
You should review a few different platforms to find the best cryptocurrency exchange for your needs. Exchanges have widely different user interfaces, fees and rules. A little research can help you feel comfortable with the exchange you choose.
- Buy USDC
Once you’ve found the perfect exchange, you’re ready to buy USDC. While USDC’s backing has kept its value stable to date, it’s still a cryptocurrency and risks losing value. Be sure to only fund your account with money that you won’t need for monthly expenses or emergencies.
You can place an order on your chosen exchange with just a few steps:
- Enter the dollar amount of USDC you want to buy.
- Select the order type (market, limit, etc.).
- Complete the trade.
- You’re now the proud owner of USD Coin.
- Store Your USDC
Once you purchase USDC, there are lots of different crypto wallets where you can store your coins:
- Hardware Wallets. Referred to as “cold storage” or “cold wallets,” these physical devices can sometimes look like USB drives. You download your crypto from the web onto these drives and store them—Ledger and Arculus both support USDC.
- Paper Wallets. Paper wallets let you print a combination of public and private keys and QR codes, which keeps your data offline and protected from potential hacks.
- Software Wallets. You can also download crypto wallet software like Exodus or Vibes directly to your computer or mobile device to store your USDC.
- Crypto Exchanges. Many exchanges offer customers a built-in crypto wallet to manage their crypto holdings on the site. For example, Kraken and Gemini each offer wallets.
Users can also store their USDC with a Circle Account.
USD Coin is useful for individuals and businesses wanting a digital dollar. It’s easy to use, whether you’re sending, receiving, or lending. Stablecoins aren’t guaranteed, but the transparency of USD Coin makes it one of the most secure options.
Crypto Savings Account
Crypto savings accounts may offer you more favorable rates if you agree to lock up your USD Coin (USDC) for a while, or if you hold a platform-specific token. Nexo, for instance, increases interest rates by up to 4% for holders of the platform’s governance token, NEXO. Binance and Crypto.com are among companies that offer greater interest rates to holders who lock their tokens away for months at a time; keep in mind this kind of deposit means you can’t sell USD Coin (USDC) in the event of a sudden downturn.
Some companies in this category stake your crypto to enhance the security of a blockchain, others add liquidity to vast pools of crypto that power decentralized finance (DeFi) protocols, some may lend your USD Coin (USDC) to others and finally, companies may invest your crypto. But they all have one thing in common: They use the money they earn from these activities to pay you regular interest on your holdings.
Stake USD Coin (USDC)
USD Coin (USDC) staking is the second-best option when it comes to acquiring free USD Coin (USDC), but it can also be a continual source of income if you do it right.
Staking is essentially the process of locking up your USD Coin (USDC)s in order to validate new blocks on specific blockchains. This can only be done on PoS (Proof-of-Stake) blockchains since PoW (Proof-of-Work) blockchains like Bitcoin don’t include the feature.
Because you are helping with the validation process, you can stake your existing tokens to earn free USD Coin (USDC) as a reward. These rewards often vary, while the most speculative coins can bring in the highest profits.
Most of the larger USD Coin (USDC) exchanges offer stakes to users, with eToro currently leading the pack when it comes to rewards and the overall fee system.
USD Coin (USDC) Airdropping
USD Coin (USDC) airdrops are essentially giveaways and promotions offered in digital form. USD Coin (USDC) airdrops are sent to the digital USD Coin (USDC) wallets of people on mass.
To further clear the mist:
- Users who connect with new and current USD Coin (USDC) platforms on a regular basis are likely to receive an airdrop at some point
- As part of a larger marketing campaign, blockchain-based developers and organizations distribute free USD Coin (USDC) to members of their communities on mass
- The fundamental concept with newer projects is to offer tokens in the hopes that you, and others, become more interested in the related USD Coin (USDC) project
- How you can qualify to receive airdrops will depend on the USD Coin (USDC) project in question.
Work for USD Coin (USDC)
To work for USD Coin (USDC), you need marketing experience, specifically USD Coin (USDC) marketing experience. While there is overlap between traditional online marketing and USD Coin (USDC) marketing, the blockchain space relies heavily on social media and community building in channels like Telegram and Discord. Good USD Coin (USDC) marketers know how to design and execute campaigns and are aware of subtle differences between projects.
Since USD Coin (USDC) pretty much lives on Twitter, this is your best bet to be hired. Create a track record by writing tweets and/or posts that demonstrate your knowledge or at least the learning process. While you are learning, you can reach out to projects on Twitter and offer to volunteer. Especially smaller startups will be happy about any helping hand. Discord servers are a fantastic learning tool and way to connect with people in the space and learn a lot along the way. Joining a few Discord servers of projects you like is a strong suggestion. In general, anything that draws attention to you or creates a track record will be invaluable later on, no matter how small.
There are a couple of excellent USD Coin (USDC) job boards that will help you find a job and understand what kind of skills are required:
- https://cryptojobslist.com/ — Personal favorite thanks to daily updates and amount of info.
- https://cryptocurrencyjobs.co/ — As good as the previous one.
- https://crypto.jobs/ — Updated regularly but poor user experience.
- https://www.crypto-careers.com/ — Regular-ish updates, not as good as the others.
- https://pompcryptojobs.com/ — Semi-regular updates.
- https://angel.co/company/crypto/jobs — Good, but US-only and account needed.
- https://www.cryptojobsdaily.com/ — Semi-regular updates.
- https://laborx.com/ — Freelance board for crypto work.
- https://jobs.defialliance.co/jobs — Jobs in decentralized finance.
Hold USD Coin (USDC)
If you’re considering holding USD Coin (USDC) now, as prices have dipped, it’s worth noting that there’s no guarantee the market will recover. But the simplest way to get your feet wet with crypto investments is to use US dollars to buy a cryptocurrency using a popular exchange like Coinbase, Binance or FTX. A handful of well-known payment apps — including Venmo, PayPal and Cash App — will let you buy and sell cryptocurrency, though they generally have limited functionality and higher fees.
Can I Get Free USD Coin (USDC)?
Yes, we can get free USD Coin (USDC) by USD Coin (USDC) faucet, USD Coin (USDC) PTC sites, USD Coin (USDC) Bonities and other ways. It is never too late to start investing in crypto. While it may be tempting to turn to these websites that promise an endless supply of crypto coins, it is not worth the hassle of dealing with identity theft, hacks, and other possible cyber attacks.
How to Earn More Cryptocurrency?
Coming soon.
What Could I Do With My USD Coin (USDC)?
On the Ethereum blockchain, USD Coin (USDC) is a 1:1 representation of one US dollar. It’s an ERC-20 coin that works with any app that supports the protocol.
To use Circle to tokenize or redeem USDC, you must first create an account, authenticate your identity (KYC), and link a valid bank account. Users may execute four basic actions on the Circle USD platform:
- Tokenize USD
- Redeem USDC
- Send USDC to ERC20 Ethereum addresses
- Deposit USDC from external Ethereum wallet addresses.
Except for a US$50 penalty for erroneous and rejected bank transactions, Circle USDC does not charge customers any fees for tokenizing and redeeming services. All normal costs apply to Coinbase USDC transactions. The minimum amount of USDC that may be redeemed is 100 USDC. Only business days are used to process tokens, and the procedure might take up to 24 hours. The procedure can take up to two business days and there is no minimum tokenization value.
Where Can I Spend My USD Coin (USDC) Tokens
USD Coin (USDC) can be purchased in the following exchanges:
- Binance (paired with BTC, BNB).
- Poloniex (paired with BTC, ETH, XRP, BHC, STR, LTC, ZEC, XMR, DOGE).
- Coinbase Pro (paired with BTC, ETH).
- Coinbase (paired with
- CoinEx (paired with USDT).
- Coinsuper (paired with BTC, USD).
- OKEx (paired with BTC, USDT).
- CPDAX (paired with BTC).
- Hotbit (paired with USDT).
- Kucoin (paired with BTC, ETH, USDT).
- Korbit (paired with KRW).
- FCoin (paired with USDT).
- LATOKEN (paired with BTC, ETH).
- SouthXchange (paired with BSV, DASH).
- COSS (paired with BTC, ETH).
- Crex24 (paired with USD).
Besides these exchange pairs, USDC can be turned to USD and vice versa at Coinbase.
More About USD Coin (USDC)
Where to Store USD Coin
USDC is an ERC-20 token issued on the Ethereum blockchain and can be stored in any Ethereum wallet. The most popular options are MyEtherWallet, MetaMask, Mint or Jaxx wallets.
Is USD Coin a Good Investment?
Purchasing USD Coin won’t generate any returns for investors, as it is intended to be a stablecoin. So the advantage of this crypto is more about its usage, as there isn’t an expected price appreciation with this coin.
Investing in USDC would be like stashing U.S. dollars under your mattress, and your investment would never be worth more than the equivalent cash.
That said, there are some avenues to profit off of USDC. You can make passive income with USDC by lending it to other crypto investors. A few lending programs will pay you interest for lending your USDC. But of course, no investment is risk-free, and you are taking a little bit of risk on borrowers in gaining a yield on USDC.
Again, the overall goal of USDC is to help businesses and individuals transfer currency in a faster and more economical way by eliminating the need for traditional intermediaries like banks and providing a stable crypto.
What is USDC vs USD?
USD coin (USDC) is an Ethereum-based stablecoin – a type of digital asset whose value is pegged 1:1 with the U.S. dollar. That means holders can redeem 1 USD coin for $1 at any time. Every USDC is backed by one dollar or an asset with an equivalent value, held in accounts with U.S. regulated financial institutions.
What is the Benefit of Buying USDC?
USDC enjoys all the advantages of being an Ethereum-based currency. Settlement times on the blockchain are in near-real-time, leading to faster transactions.
What is the Risk of USDC?
There are risks involved such as destabilization of USDC, its depreciation, different pricing of USDC by institutions/organizations whereby USDC transactions are performed, exchange rate risk to be encountered, bankruptcy, loss of assets, seizure of assets faced by institutions such as CENTRE and/or Circle.
