USD Coin (USDC) is a stablecoin pegged to the US dollar. Each USDC token is backed by a reserve of local currency cash, cash equivalents, and short-term US Treasury bonds. With a total supply exceeding $190 billion, USDC has become one of the most widely adopted stablecoins in the cryptocurrency market.
What Is USD Coin (USDC)?
Launched in 2018 by the "Center" consortium—co-founded by Circle and Coinbase—USDC operates as an ERC-20 token on the Ethereum blockchain. Key features include:
- Regulated Stability: Backed by centralized, regulated entities (unlike anonymous partnerships), USDC adheres to US money transmission laws, ensuring transparency.
- 1:1 Dollar Peg: Maintained through algorithmic minting/burning based on deposits and redemptions.
- Global Utility: Designed for fast, low-cost transfers and instant payments for businesses and internet markets.
👉 Trade USDC with high liquidity on OKX
Why Sell USDC?
Investors often sell USDC to:
- Lock in profits from crypto trades.
- Hedge against market volatility.
- Convert to fiat for everyday expenses.
How to Sell USDC with a Credit Card
Step 1: Choose a Platform
Select a reputable exchange like OKX that supports credit card withdrawals. Key criteria:
- Low fees (<1% per transaction).
- Instant settlement.
Step 2: Link Your Credit Card
Verify your card details securely. Most platforms require:
- Card number and expiration date.
- Billing address matching KYC documents.
Step 3: Execute the Trade
Convert USDC to your local currency (e.g., USD, EUR) via trading pairs like BTC/USDC or ETH/USDC.
Step 4: Withdraw to Your Card
Initiate a withdrawal, ensuring:
- Daily limits align with your needs.
- Processing times are under 24 hours.
FAQs
Q: Is selling USDC taxable?
A: Yes, in most jurisdictions. Consult a tax professional for local regulations.
Q: Can I sell USDC anonymously?
A: No—exchanges require KYC compliance to prevent fraud.
Q: What’s the minimum USDC sell amount?
A: Typically $10–$20 equivalent, but varies by platform.
Why Trade USDC on OKX?
- Deep liquidity: Tight spreads across major pairs.
- Security: 98% cold storage for funds.
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