Hello all my steemian friends
How are you all?
Hopefully, you will always be healthy.
For the task I am working on, I will be interesting because the assignment given by Professor @yohan2on is about the stable coin, there is 4 stable coin that given by professor which are:

(1)TrueUSD
(2) USDC
(3) Digix
(4) Paxos Standard

But the stable coin that I'll take for the main topic of this article is USDC.

1. About USDC

source

The price of crypto assets has been fluctuating for some time, making many people think of looking for a solution. One way is to create stablecoins. As the name suggests, stablecoins are coins whose price is always stable because their value is backed up by real assets. In this case, Coinbase uses the United States dollar as a "hedge" for the USDC coin they are launching.

Coinbase took the "bold" step to create their first stable coin, called USDC. Unlike other cryptocurrencies, USDC was created to represent the price of one of the fiat currencies which aims to keep the value of the coin at 1 US Dollar neither rising nor falling, each USDC is guaranteed to be the same as USD.

USDC is on the Ethereum blockchain system, where if the stable coin is on the Ethereum blockchain, it means that it is included in the ERC-20 token. The technology underlying the creation of the USDC coin is developed by Coinbase and Circle.

2. Advantages of USDC

• USDC is pegged 1: 1 to the US Dollar so that it is a coin that does not have large price fluctuations, even USDC is often called a haven for investors because they protect their assets from high market volatility.

• USDC is one of the ERC-20 tokens built on the Ethereum blockchain so that all transactions that take place are always transparent and can be accessed by anyone.

• USDC is a non-mineable token, so anyone who wants USDC has to invest first and this can help keep the price off USDC.

• The US dollar equivalent is reserved in reserve for each USDC token issued on the exchange. The reserves are banks and financial institutions under FDIC regulation.

• USDC tokens can be used for various financial services such as borrowing, providing loans, exchanging them for other ERC-20 tokens, and can also be a long-term investment destination.

3. Market of USDC

There are several markets that are created for the USDC trading process. Like on Binance we can buy USDC using BTC or USDT, and you can also make purchases by making a deposit on your Binance account so you can buy USDC using your fiat currency.

Screenshot from CoinMarketCap

4. Unique Feature of USDC

Screenshot from CoinMarketCap

There is an interesting feature of USDC, you can connect your wallet with the official website of USDC to purchase these tokens. You can use a Hard Wallet or a Soft Wallet, it's all up to you. You can see a list of wallets that are compatible with USDC in the picture above.

5. The Current Price and Graphic of USDC

Screenshot from CoinMarketCap

From earlier I explained that USDC is a stable coin, now the question is whether the price of USDC is the same as 1 US dollar?

The answer is absolutely correct, at this time the price of USDC is right at 1 US Dollar which is strengthening it as a stable coin.

Screenshot from CoinMarketCap

However, if we look at the track record of USDC prices in recent years, we will find that USDC has frequent inconsistencies in prices. We can see in the chart above that from the time USDC was launched at the end of 2018 until September 2020, the price of USDC experienced quite high fluctuations. However, starting from the end of 2020 the USDC price has tended to be stable.

Conclusion

In my opinion, a breakthrough of a stable coin like USDC is a positive thing, with its various advantages it can help investors to deposit their crypto coins. But there is a bit of an oddity after I saw the track record of the price of this USDC coin because at first, it has a quite bad price stability, this needs to be considered by investors before buying USDC.

CC:

@steemcurator01
@steemcurator02
@yohan2on
@steemitblog