Crypto Academy Week 7 Homework Post for [@yohan2on]

wonderfulcountry (53)in SteemitCryptoAcademy • 3 years ago (edited)

Introduction

Most cryptocurrencies are very volatile and the graphics are always fluctuative. When visiting the coinmarketcap and coingecko you can see price charts of various cryptocurrencies and most cryptocurrencies are proven not to have stable prices.

To break the volatility chain, you can save your capital in the form of stable coins such as USD Coin (USDC), True USD (TUSD), Tether (USDT), DAI, Binance USD (BUSD), Paxos Standard (PAX), Digix Gold ( DGX), etc. These coins have a stable value all the time because the price is always the same as the price of a commodity that is the benchmark in the real world, such as the fiat currency USD. Because they act as stable coins, they are not suitable for investment. However, you can use these coins to protect your capital safely from market volatility before you transact it back into other assets.

One of the stable coins that is often used is USD Coin (USDC). To talk about USDC, I immediately visited several websites, such as:

https://www.centre.io/usdc
https://www.circle.com/usdc
https://www.coinbase.com/usdc
https://www.coinmarketcap.com/currencies/usd-coin.

All about USD Coin (USDC)

Source

USDC was released at the end of 2018 by CENTRE company which is a consortium between CIRCLE and Coinbase companies. The USDC project is led by Brian Armstrong who is also the founder of the Coinbase platform. USDC is an ERC-20 token with a smartcontract on ethereum blockchain.

This "Digital USD" has a price equal to the value of $ 1 that we use in everyday life. Because it is pegged at the value of 1 USD, every 1 USDC in circulation means 1 USD is kept by the issuer and all of this is fully guaranteed by the FDIC. This is transparent tokenization. USDC transactions are also guaranteed with high security, this is evidenced by the KYC (Know Your Customers) verification on every transaction.

USDC Overview on coinmarketcap.com

USDC is a stable coin that has the second highest market cap after Tether (USDT) and is included in the top stabe coin. With a market cap of $ 10,601,919,395 and is at number 12. Currently USDC has a total supply of 10,808,765,871 USDC and a circulating supply of 10,589,903,879 USDC.

USDC Price Chart on coinmarketcap.com

This proves that the USDC price is truly stable.

On centre.io, here are some of USDC Support Wallets

Based on the picture, there are Alpha Wallet, Atomic Wallet, BitGo, Citowise, Coinbase, Coinomi, Cool Wallet, crypto.com, Dexwallet, Elph, EXODUS, Fireblocks, Guarda Wallet, imToken, Ledger, Tokenary, TRUST Wallet, ZenGo and Zeux.

On centre.io, here are some of USDC Exchanges-Markets

USDC is already very active on various trading exchanges. There are many exchanges that have traded this ERC-20 token. Based on the picture, there are AIRSWAP, BiKi, Binance, Bit-Z, BitBay, Bitfinex, BITKAN, Bitmart, Bitmax, Bittrex, cex.io, Coinbase, CoinEx, CoinHub, CPDAX, crypto.com, DigiFinex, ETHEX, ETHFINEX and FETCH.

On centre.io, here are some Platforms use USDC

Based on the picture, there are Abacus, Bitpay, Centrifuge, Coinbase, Circle, Dispatch Labs, SYSX, FOTA, Hacera, Kyber Network, MoonPay, Origin, PyTrie, RADAR, Ramp, Sablier, Wanchain, Securitize, Wyre and XinFin.

On centre.io, here are some of USDC App Providers

Based on the picture, there are AAVE, Bitwage, BlockFi, BlockMyTalent, Celsius Network, CoinLoan, Compound, Constant, crypto.com, Deconet, Dharma, Dizpay, Gilded, LENDindex, Linen, Matrixport, Alpha Wallet, NEXO, Nitrogen, NUO, OpenSea, OUTLET, SALT and travala.com.