Can I buy USDC with a Credit Card?
The short answer is yes. Major credit card providers like VISA, Mastercard, Maestro and others do not block or prohibit the purchase of stablecoins like USDC. This means you can safely buy USD Coin and other tokens with a credit card deposit with a licensed and regulated trading platform.
That said, your bank or card issuer may charge a small fee for using your credit card to buy cryptocurrencies. The amount will depend on your issuer, but typically it is around 1-2%.
How to Buy USDC with a Credit Card
The best method to purchase stablecoins like USDC with a Credit Card is through a globally regulated trading platform like Uphold. They offer instant deposits and zero fees to buy and sell USD Coin with a Credit Card.
Here is a step-by-step guide on how to buy USDC on the platform:
- Sign up for a free account on Uphold.com and verify your identity by providing some personal information and uploading a government-issued ID.
- Select “Add Funds” from the dashboard and choose “Credit/Debit Card” as the deposit method.
- Enter the amount of USDC you want to buy and your credit/debit card details. Note that Uphold does not charge any fees on credit card deposits.
- Once your deposit is successful, you will see the USDC balance in your account. You can now use these funds to buy other cryptocurrencies, send money to friends or family, or deposit them to earn interest on Uphold or a decentralized platform like AAVE or Compound.
What is USDC?
USDC is a digital dollar that is pegged 1:1 to the US Dollar. The coin is backed by major US financial institutions like Circle and Coinbase and can be redeemed for cash at any time. Unlike other stablecoins, USDC is an Ethereum token that runs on the ERC-20 standard. This means it can be stored in any Ethereum-compatible wallet.
USDC is one of the most popular stablecoins in the market with a market capitalization of over $45 billion. The coin is often used to trade other cryptocurrencies or to send money cross-border without incurring high fees.
Is USDC Safe?
USDC is a very safe investment because it is backed by major US financial institutions and can be redeemed for cash at any time. The coin is also transparent because it is built on the Ethereum blockchain, which is a public ledger. This means that all transactions are visible to anyone on the network. If you want to compare it with another stablecoin, you can read our USDC vs USDT comparison.