How to Buy USD Coin (USDC) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has USD Coin, and is trustworthy!

You can find our top 3 exchanges for buying USD Coin here, alternatively you can also check our comparison of the best cryptocurrency exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy USD Coin

And of course, the final step is to find USD Coin on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy USD Coin (USDC)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell USD Coin

  1. Sign into the exchange
  2. Find where you stored your USD Coin, either on a hardware wallet or on the exchange.
  3. Transfer your USD Coin to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell USD Coin.
Businessman looking at crypto trend

Considerations when looking to buy USD Coin.

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 origins 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.