USD Coin (USDC) is a stablecoin that aims to keep a stable valuation of 1 US Dollar. This stablecoin was created by the Centre consortium, a partnership between Circle and Coinbase. The idea behind USDC is to tokenize US dollars to make it easier to use them on the interenet and on blockchains. UDSCs are issued as ERC20 tokens on the Ethereum blockchain.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store USD Coin. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing USD Coin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store USD Coin without any technical knowledge. Here is a brief overview of the existing wallet options to store your USD Coin:
Hosted wallets are wallets where the private keys to your USD Coin are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your USD Coin online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your USD Coin. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your USD Coin, and if malicious parties have access to your device, your private keys (and therefore your USD Coin) can be stolen.
A hardware wallet is a physical device on which you can store your USD Coin offline. It is one of the safest ways to store your USD Coin, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your USD Coin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive USD Coin. Once you have purchased USD Coin on Bitvavo, you can choose to send your USD Coin from your Bitvavo wallet to your own software or hardware wallet.