Buy USDC in the UK

How to Buy USDC in the UK

As mentioned above, the easiest way to buy USD Coin (USDC) is through a regulated trading platform in the United Kingdom. We recommend Uphold because they are a London-based exchange that holds an FCA license and offers instant GBP deposits from any UK bank account to trade over 250 cryptocurrencies with low fees and tight spreads.

You can start buying USDC in minutes with this simple guide:

1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
2. Connect Account: Select the currency you want deposit on the Uphold Platform (GBP + 30 more).
3. Deposit Funds: Connect your UK Bank account or a Debit/Credit Card to deposit GBP.‍
4. Buy USDC: Find USDC on the platform and input the amount of GBP and select 'Buy'.

What are the fees to buy USDC in the UK?

The fees to buy USDC vary depending on the exchange. Uphold’s platform offers zero fees when buying USDC, but charges a small fee in the spread which averages at around 0.05% per trade. This makes Uphold the most cost-effective way to purchase USDC compared to other platforms like Coinbase which charge in excess of 2% per trade.

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Are Stablecoins like USDC legal in the United Kingdom?

Yes, USDC is legal in the United Kingdom. However, it is subject to regulation under anti-money laundering and counter-terrorist financing (AML/CTF) laws, as well as guidance from the Financial Conduct Authority (FCA) regarding e-money regulations and regulatory perimeter. It is important to consult with legal experts to ensure compliance with any applicable laws and regulations.

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Is USDC Safe?

USD Coin (USDC) by Circle is considered to be a safe stablecoin, as it is backed by US dollars held in reserve and is issued by a regulated financial institution. Circle is a reputable company and it is a member of the Centre Consortium, which is a group of companies that work together to promote the use of USDC and ensure its stability.

In terms of security, USDC is built on Ethereum blockchain which is considered to be a secure blockchain. Additionally, Circle follows strict compliance and security standards, and holds licenses from several regulatory bodies such as the New York State Department of Financial Services (NYDFS) and the Financial Crimes Enforcement Network (FinCEN).

Final Thoughts

In conclusion, the most efficient and secure method to purchase USDC in the United Kingdom is through an FCA-licensed exchange like Uphold. Offering instant GBP deposits, low fees, and a wide range of cryptocurrencies, Uphold stands out as a top choice for UK investors. USDC, a stablecoin backed by US dollars, is both legal and safe within the UK, as long as you adhere to AML/CTF laws and FCA regulations. By using a trusted exchange, investors can confidently buy USDC and explore other stablecoin and staking opportunities.