What is USD Coin (USDC)?
USD Coin (USDC) is a stablecoin issued by Circle. It is designed as a digital dollar.
In simple terms, USDC represents tokenised US dollars that can be used over 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 buy USD Coin (USDC) in the UAE
In the Crypto.com App, the basic steps are:
- Create an account and complete the required verification.
- Add funds using an available payment method.
- Tap 'Buy' and choose USD Coin.
- Enter the amount and review the order details.
- Confirm the purchase when you're ready.
Can you buy a small amount of USDC?
Yes. You don't need to buy a whole token. You can buy fractional amounts of USD Coin for as little as 10 AED.
For One-Time orders in the Crypto.com App, the minimum buy or sell amount is the equivalent of 10 AED. Review the order details before confirming.
What payment methods can you use to buy USDC?
You can hold AED or USD as the fiat currency on your account. Funding options include bank transfer, debit or credit card (Visa or Mastercard), Apple Pay or Google Pay. You can also transfer existing crypto into your wallet.
If you deposit AED by bank transfer, this is free on Crypto.com, though your bank might charge. USD deposits by SWIFT transfer are also free on Crypto.com. Other transaction fees and spread may apply, so review the order details before you confirm.
