How to Buy USDC from Coinbase without any Fees

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Learn how to buy USDC Coin from Coinbase without any fees. What is USD Coin? USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold. I has maketcap of 27.3 billion USD with daily trading volume of $3.0 billion just on Coinbase. It has Stable value. For customers with a US dollar bank account, 1 USDC can always be redeemed for US $1.00, giving it a stable price. It is Backed by US dollars. Each USDC is backed by one US dollar, which is held in a bank account. It is Powered by Ethereum. USD Coin is an Ethereum token. It is a ERC 20 token. It can store it in an Ethereum-compatible wallet, like Coinbase Wallet or Metamask Wallet's Ethereum chain. Do USDC hold its value? Centre, the consortium that mints USDC, collectively holds US $1.00 for every single USDC. These funds are held in a special bank account that is constantly monitored and audited. Unlike regular US dollars, USD Coin doesn’t require a bank account. It doesn’t require that you live in a particular geography. And you can send USD Coin around the world at an extremely low cost in just a few minutes. USDC is a programmable unlocks a whole new world of applications and businesses: developers can create accounts to store money with one line of code; lending that is faster, cheaper, and more transparent; faster and cheaper payments, including payroll; global crowdfunding; transparent and stable donations to charity. USD Coin allows unbanked and under-banked individuals in any country to hold a US dollar–backed asset with nothing more than a mobile phone. You can hold as little as 0.000001 worth of USD Coin. If you hold USD Coin on Coinbase, as of June 3rd, 2020, the APY for USDC Rewards is 0.15%. To be eligible for USD Coin rewards on Coinbase, all you need is be a US customer have a verified Account level 2 (KYC verified), hold at least $1 of USDC in your Coinbase account. Speed to send USDC is 12-17 seconds on-chain. USDC is supported in 100+ countries on Coinbae globally. Fees for Coinbase to Coinbase transfer is $0 and less $1.00 USD for on-chain transfer.

If you do not have a coinbase account, I will provide link to signup for one. You need to sign up and do KYC verification using driver's license or ID. Then link your bank account. Never fund your Coinbase account with creditcard or debitcard. Coinbase will charge fees for that. In my case, I fund my account using linked US bank account. Select USD Coin as coin type. Select pay with your US bank account. You can select $10, $50, $100, $500, $1000 or custom. In my example I would select custom. I wanted to transfer $1100. Click Preview Now. Click Buy Now. As you can most importantly there is no fees to buy from Coinbase. Coinbase currently fund the account right away. You will see $1100 USD Coin funds appear in account right away.

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#USDC, #stablecoin, #cryptocurrency, #YieldFarming, #ERC20