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 Singapore
In the Crypto.com App, here is the basic flow:
- 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, with the minimum depending on your payment method.
For One-Time orders in the Crypto.com App, the minimum is SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card, or SGD 50 by FAST bank transfer. Do review the order details before confirming.
What payment methods can you use to buy USDC?
You can hold either SGD or USD as the fiat currency on your account. Funding options include FAST bank transfer for SGD, Swift transfer for USD, debit card, Apple Pay or Google Pay. You can also transfer existing crypto to your wallet.
FAST bank transfers in SGD and Swift transfers in USD are free on Crypto.com, though your bank might charge. Depositing USD directly can also help you avoid foreign exchange fees when buying USD Coin with USD. Other transaction fees and spread may apply, so do review the order details before you confirm.
