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USDC Exchange on eToroX
The USDC (USD Coin) is one of 17 stablecoins currently being traded on the eToroX exchange, including eToroX’s tokenised US Dollar (USD), the Euro (EURX) and the Pound Sterling (GBPX), with 99 trading pairs available on eToroX.
The USDC (USD Coin) — a US dollar-backed tokenised stablecoin — was recently joined by five new stablecoins on the eToroX Exchange, including the Hong Kong dollar (HKDX), the Turkish lira (TRYX), the Polish zloty (PLNX), the South African Rand (ZARX), and the Singapore dollar (SGDX). The goal of launching these new stablecoins was to find a way to bridge the gap between the world of cryptoassets and traditional financial markets.
Created with the idea of building an “open financial system for the world” — USDC (USD Coin) — allows unbanked and under-banked individuals in any country to hold a US dollar-backed asset with only a mobile phone, according to Coinbase, a digital currency exchange based in San Francisco, California, which developed the coin together with the CENTRE Consortium. Unlike regular US dollars, USD Coin doesn’t require a bank account or a fixed address, and can be sent around the world at an extremely low cost — in just a few minutes.
USDC (USD Coin) is a cryptoasset linked to a traditional fiat currency — in this case, to the US dollar, which can now be traded on eToroX Exchange. The price of the USDC (USD Coin) is linked to the US dollar on a 1:1 value basis, so if you trade USDC (USD Coin) on eToroX, it is the same as trading US fiat dollars.
USDC Trading on eToroX Exchange
The USDC (USD Coin) “came to life” in 2019 — representing a fusion of the traditional world of financial markets and the world of blockchain. Stablecoins were introduced into the world of cryptocurrencies to counteract their inherent lack of stability.
To buy USDC, you need a verified eToroX account, which is funded with any of the supported cryptoassets, which you can then exchange against USDC.
What Affects the USDC (USD Coin)
The USDC (USD Coin) is influenced by the following drivers:
- Cyberattacks that could affect the USDC on the Ethereum blockchain
- Third-party platforms
- Legislative and regulatory changes that could affect the tokenisation of US dollars into USDC
Why Trade USDC with eToroX
In the highly volatile world of cryptoassets, eToroX offers you a secure exchange platform on which to trade. eToroX is the crypto and blockchain arm of the social trading platform eToro, and is regulated by the Gibraltar Financial Services Commission (GFSC). This ensures exchange and trading of USDC and other cryptoasset pairs safely, securely and in a transparent environment.
You can now exchange USDC on eToroX for other cryptoassets, including Bitcoin, Litecoin, Stellar, EURX, GoldX and SilverX.
How to get started with USDC
First, open and verify your Exchange account, log in using your credentials and transfer supported cryptoassets to the trading exchange. Then, you will be able to trade SLVX against another stablecoin or cryptoasset pair.
The procedure is simple using the online form. You can also create a profile by using your Gmail or Facebook account, and completing the onboarding process until your account is fully verified.
If you have an existing verified eToro account, no need for further registration. Simply sign in using your existing eToro credentials.
To fund your exchange account, if you already have crypto stored somewhere (a private digital wallet, for example), send it directly from there; or you can download the eToro Wallet (from either the Google Play Store or the Apple App Store) and also send directly from there. Using either method you will be able to transfer them to the exchange and buy USDC (USD Coin).
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.