What Is USDC: Where & How to Buy USDC in South Africa?
Are you looking to buy USDC in South Africa? If that’s the case, you can buy USDC or swap other crypto coins you already own for USDC, right here at Easy Crypto. Here, we’ll look at how, as well as which option might be right for you. But first, let’s have some introduction with USDC.
USDC (USD Coin) is a stablecoin that benefits from one-to-one backing by the U.S. dollar. As a crypto investor, you can, therefore, buy USD Coin, to protect your crypto wealth from diminishing during market downturns.
What is the purpose of buying USDC in South Africa?
USDC Coin is not a digital asset that you invest in like Bitcoin. This is because the purpose of the two coins is entirely different.
As it stands, there are two main use cases for USDC in South Africa. As a cryptocurrency trader or investor, you can use USDC Coin solely to protect your cryptocurrency wealth from major market downturns.
If you own $1,000 (U.S.) in BTC and swap this for $1,000 in USDC at Easy Crypto, you will still have $1,000 in USDC tomorrow, even if Bitcoin crashes to zero in the interim.
Sadly, if Bitcoin goes up in value after you swap BTC for USDC Coin, you won’t make any gains. For this reason, South African cryptocurrency traders usually swap coins like Bitcoin for USDC repeatedly, depending on cryptocurrency market conditions.
Can I use USDC as digital dollars?
As well as using USDC to protect your existing crypto wealth from cryptocurrency market downturns, it is also possible to use USDC as a digital U.S. dollar.
Many South Africans use cryptocurrency in business contexts to settle international transactions quickly. Many others use cryptocurrency to transfer money quickly to family members living outside of South Africa.
In both cases, it is possible to use USDC as a replacement for other cryptocurrencies. Transactions still settle quickly. All that you don’t have to worry about is sudden coin price fluctuations. As is often the case like with coins like Bitcoin.
What is the difference between USDT and USDC?
At present, an alternative to USDC Coin exists in the form of Tether (USDT).
At face value, both USDC and USDT offer similar benefits. Each coin benefits from 1:1 backing by the U.S. Dollar. Each is also accepted worldwide by a growing number of users, businesses, and cryptocurrency exchanges.
The main difference between USDC and Tether rests with the fact that USDC is made available by the JP Morgan company, Circle. As a result, regular audits ensure that every USDC in circulation is backed by a real U.S. Dollar.
By comparison, Tether does not make audits available to the public. As a result, some question whether USDT is really backed by real U.S. Dollar reserves.
Why should you buy USDC?
If you are looking to use a stablecoin to protect your cryptocurrency wealth from market downturns, USDC is likely your best option. Regular audits by Circle mean that funds you store in USDC are always 100% safe. This is slightly different from when using USDT, given current auditing doubts.
How to buy USDC in South Africa?
Do you already own Bitcoin or other top market cap cryptocurrencies? Have you ever tried to sell or exchanged Bitcoin for South African Rand? If that’s the case, you will know just how quickly coins like Bitcoin can fall in value.
Thankfully, it is now possible to use Easy Crypto to lockdown your crypto wealth.
At Easy Crypto, we make it easy to buy USDC Coin directly in South Africa. However, we also make it easy to instantly swap Bitcoin (or other altcoins you own) for an equivocal amount of USDC.
- Protect your existing crypto wealth by instantly swapping Bitcoin for USDC before market downturns.
- Swap coins back or swap USDC for other altcoins at any time.
- If you don’t already own coins like Bitcoin, you can buy USDC in under 2-minutes through Easy Crypto.
At Easy crypto, we are the only exchange where you can buy USDC Coin or swap other coins for USDC in under 2-minutes. We also offer the lowest local fees in South Africa on all coin transactions.