What is USD Coin (USDC)?
USD Coin (USDC) is a fiat stablecoin pegged 1:1 to the US dollar. Circle launched USDC as a way to tokenise US dollars for use across public blockchains, subject to the token's compliance controls.
Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets, or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
How to send USD Coin (USDC) in the Crypto.com App
In the Crypto.com App, you can send USD Coin (USDC) to another App user or withdraw it to a supported external wallet.
- Open the App, go to 'Accounts', tap 'Crypto Wallet' and find your USD Coin balance.
- Tap 'Transfer', then 'Withdraw'.
- Choose 'Crypto.com Users' or 'External Wallet'.
- Enter the amount, check the network details and verify the withdrawal with a protection method such as two-factor authentication (2FA).
Before sending to a new external address, you'll need to add it to your approved withdrawal whitelist and verify the addition with a protection method such as 2FA.
What does it cost to send USD Coin (USDC)?
Sending USD Coin (USDC) to another Crypto.com App user is instant and free of charge. Other fees, spreads or transfer limits may apply.
If you withdraw USD Coin (USDC) to an external wallet, standard network withdrawal fees apply. Check the transaction details and network costs in the App before confirming.
Can you reverse a USD Coin (USDC) transfer?
Completed Crypto.com Send transfers can't be reversed. Crypto.com is unable to undo the transfer or recover the crypto.
For external blockchain transfers, once the transaction is authorised and confirmed on the network, you can't cancel or reverse it. Check the recipient, wallet address and network before confirming.
