How to buy USD Coin (USDC) in the UK
Learn how to buy USD Coin (USDC) on 5+ crypto exchanges in our step-by-step guide.
You can buy USD Coin (USDC) on a cryptocurrency exchange like Koinal. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. USDC is a digital stablecoin pegged to the value of the US dollar. Here's how to buy USD Coin.
How to buy USD Coin in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy USD Coin is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit £ using the payment method that best suits you – credit card, debit card, china union pay and sepa payments are widely accepted.
Buy USD Coin
You can now exchange your funds for USD Coin. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your USD Coin to your personal wallet.
Where to buy USD Coin in the UK
Find an exchange to buy, sell and trade USDC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy USD Coin?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy USD Coin?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading USD Coin.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing USDC with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What is the easiest way to buy USD Coin?
The easiest way to buy USDC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying USDC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of USD Coin has been performing recently.
Best USD Coin wallets to store your USDC
You can keep your USDC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent USD Coin developments
February 2022: The war between Russia and Ukraine resulted in a significant volume increase for USDC, with 44% of all trades on the Ukranian cryptocurrency exchange comprising either USDC or USDT. This spike was largely due to the economic implications of the invasion negatively affecting the value of Ukranian and Russian fiat currencies.
Is USD Coin a good investment?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, Circles 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.
Additional information about USD Coin can be found using our USDC analysis tools.
Today's USD Coin price versus ATH
Compare today's price of USD Coin ($1.002 USD) against its all-time-high price of $1.17 USD on 08 May 2019. The closer the bar is to 100%, the closer USDC is to reaching its ATH again.
ATH date: May 08, 2019
USD Coin ATH: $1.17
How to trade, convert or sell USD CoinYou can convert or sell your USDC with the same exchange you bought it through:
- Sign in to the exchange you have USDC on.
- If you store your USD Coin in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of USDC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of USD Coin.
- Complete your transaction and move your USDC to a wallet for storage.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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