Last update: Jun 6, 2022

How to Buy USD Coin (USDC)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy USD Coin. Depending on where you live, you’ll have various crypto exchanges to choose from.

In this guide, we not only cover the top 3 global cryptocurrency trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Usd coin

How to Buy USD Coin – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have USD Coin of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto exchanges.

4. Buy USD Coin

Now that you have what you need to buy USD Coin, head over to the market or buy section of the cryptocurrency exchange and buy some USDC.

If the crypto exchange doesn’t have any USD Coin on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has USD Coin first), and trade your Ethereum for USD Coin.

Where to Buy USD Coin (USDC)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell USD Coin

  1. Sign into the crypto exchange where you bought USD Coin.
  2. Move your USD Coin to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell USD Coin.

 

Crypto trading

How to Buy USD Coin (USDC) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy USD Coin in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy USD Coin if it’s available. If the exchange doesn’t have USD Coin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has USD Coin), and trade your ETH for USD Coin.

Also, take a look at our analysis of the Australian crypto exchange reviews if you’re interested in learning more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy USD Coin (USDC) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy USD Coin in Canada, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy USD Coin if it’s available. If the exchange doesn’t have USD Coin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has USD Coin), and trade your ETH for USD Coin.

It’s also possible to check out our comparison of the places where to buy cryptocurrency in Canada if you’re interested in learning more about which exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy USD Coin (USDC) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy USD Coin in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy USD Coin if it’s available. If the exchange doesn’t have USD Coin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has USD Coin), and trade your ETH for USD Coin.

Alternatively, if you want to know more about which exchanges we like, check our comparison of the safest crypto exchanges in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying USD Coin? USDC Rundown

USD Coin, also known by its ticker USDC, is a stablecoin. It is pegged at 1:1 to the U.S. Dollar. Each unit of this cryptocurrency is supported by $1, which is a mixture of cash and U.S. Treasury Bonds. This asset is backed by the Centre consortium. It is said that USDC is issued only by regulated financial institutions.

In September 2018, the stablecoin was launched in a limited way. Simply put, USD Coin's motto is "digital currency for the digital age". The stablecoin was created for a world in which cashless transactions are more common.

The USD Coin has many uses. The stablecoin is said to provide a safe haven for crypto trader in volatile times. It can also be used by businesses to accept digital assets as payments. This will allow them to shake up a variety of sectors, including gaming and decentralized finance.

The goal is to make USDC as widely accepted as possible by all wallets, exchanges and service providers.

In recent years, the stablecoin market has become extremely crowded. USD Coin has sought to be an exception in many ways.

One is transparency. Users should be able withdraw $1 USDC and get $1 back without any problems. It states that a large accounting firm will be responsible for verifying cash reserves and making sure they match the tokens in circulation.

Coinbase and Circle have achieved regulatory compliance, which is a major advantage over other crypto ventures. This has allowed for international expansion. Both projects are well-funded, which gives stablecoin security.

Coinbase briefly considered diversifying USDC's funds, but pulled that suggestion after strong community opposition. USDC's success has been due to its transparency regarding the origin of its funds. USDC has not been accused of any wrongdoing, unlike USDT, its rival. USDT has been the subject of numerous investigations. This has resulted in USDC acquiring a large share of USDT's market dominance in stablecoin markets: USDT had a 74% to 16% market share lead in February 2021 but this has slowed to a 45% to 30% lead in February 2022.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.