Kraken
With a market cap of $78,211,186,590.00 USD, USDC ranks as the 6th largest cryptocurrency by market capitalization in the world. It operates on the Ethereum, Binance Smart Chain, Solana and others blockchain network. It is currently trading at a price of $1.00 USD per coin and trades using the cryptocurrency code USDC.
USDC is a highly volatile asset capable of major price swings in a single day. So before you buy USDC, make sure you understand these unique risks as well as its tax and legal status in Canada.
If you want to buy USDC in Canada or track its performance, keep reading to see the latest USDC price, market cap and trading volume along with a step-by-step guide on how to invest in USDC crypto in Canada.
| Current price | $1.00 |
|---|---|
| All-time high | $1.17 |
| All-time low | $0.88 |
| 1-year price change | ▲ +0.06% |
| Market cap | $78.21B |
| Market cap rank | #6 |
| Total volume (24h) | $10.59B |
| Circulating supply | 78,230,688,801 |
| Network | Ethereum, Binance Smart Chain, Solana and others |
| Where to buy USDC | Buy on Kraken |
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The whole process of buying USDC can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy USDC in Canada:
The easiest way to buy USDC is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.
To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.
Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.
You can now exchange your funds for USDC. On beginner-friendly exchanges, this is as simple as searching for the coin name (USDC) or its crypto code (USDC), entering the CAD or USDC amount you want to purchase and clicking "Buy."
Consider transferring your USDC to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.
We've curated a list of legitimate crypto exchanges below where you can buy USDC in Canada to help you compare deposit methods, supported fiat currencies and fees.
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
The USDC (USDC) coin price is $1.00 USD, which is -0.04% lower than the previous day's trading price of $1.00 USD. Over the past 30 days, USDC's price has changed by +0.02%, from $1.00 USD to the current price of $1.00 USD. Compared to this time last year, USDC's coin price has seen an increase of +0.06%.
USDC reached its all-time high price of $1.17 USD on May 8, 2019. After that, it dropped by -24.99% to its all-time low price of $0.88 USD on March 11, 2023. It has since climbed back up to its current price of $1.00 USD.
Yes, you can buy USDC in Canada. Simply open an account with a crypto exchange that operates in Canada and supports USDC—like the ones in our curated list above—and place a "buy" order. For example, Kraken supports USDC and is a registered crypto exchange in Canada.
Because USDC is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.
USDC is a digital stablecoin pegged to the value of the US dollar. To maintain its fiat-peg, the cryptocurrency is backed by fully reserved USD assets with an exchange rate of 1:1. One USDC should be equal to one real US dollar.
Launched in 2018, the stablecoin was created by Circle, a crypto finance company owned by Centre, with accompanying support from Coinbase. The token was originally built on the Ethereum blockchain, and as such was developed as an ERC20 token. However, it has now expanded to the Solana and Algorand blockchains. The parent company, Centre, is regulated by the Money Services Business and FinCEN in the US, with regular auditing taking place.
USDC can be traded and exchanged like any other cryptocurrency. Instead of cryptocurrency investors transferring funds back into fiat currency, Circle states that USDC allows users to transfer assets to a stablecoin that offers a 1:1 relationship with the US dollar. Stablecoins aim to be a calmer entry and exit platform to the sometimes volatile world of cryptocurrencies.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.
If you want to buy USDC with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying USDC with a credit card, you should be aware of the additional cost and risks involved.
For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.
For example, if you were to use a credit card to buy USDC, you could end up paying this:
If it took you three months to pay off your USDC purchase at a credit card interest rate of 19.99% APR, you would pay an additional $51.47 USD in interest on top of what you originally paid to buy USDC.
This example can help you compare the relative cost of buying USDC with a credit card versus other lower‑fee methods like Interac e-Transfers.
You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying USDC, or visit our guide on buying crypto with a credit card for more details.
Yes, it is possible to buy USDC with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.
To buy USDC with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.
Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.
Although stablecoins by nature are intended to be stable and represent the underlying asset, these tokens are not without their associated risks. Here's what to consider before buying USDC:
Collateral. Belief in the stablecoin is highly correlated with the notion that one USDC equates to one US dollar. For every token, Circle claims it holds one US dollar as a reserve.
This has previously been verified by auditors. However, if there is any doubt of this in the future, the integrity of the project will be called into question.
This was seen with the competing USD stablecoin Tether
Correlation. As the token is directly correlated to the US dollar, any issues with the USD will also affect USDC. Issues might include the de-valuing of the US dollar and relative price differences with other world currencies
Volatility. Although pegged to the US dollar, high market volatility and increased daily volume can cause minor spikes above and below 1 USD
Centralised. The token is backed by a centralised entity and, therefore, arguably goes against the decentralised sentiment of cryptocurrencies. Centre, the controlling organisation, has blacklisted wallet addresses previously
There are two main options for storing USDC once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.
While it can be more convenient to leave your USDC on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.
It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.
Like all crypto, USDC is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.
Money you get from selling USDC can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual USDC buyer than if your crypto profits are classified as business income.
You can learn more about how crypto taxes work in our guide to crypto tax in Canada.
Keep in mind that buying USDC can be risky. But if you decide to invest in USDC, look for a regulated crypto exchange in Canada that supports USDC, and make sure to store your crypto securely.
Once you've bought USDC, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on USDC's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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