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The definitive response? Yes, if you don't mind receiving returns in other currencies. Therefore, USDC is fundamentally just a digital dollar. According to its website, USDC is the fastest-growing, most completely regulated dollar digital stablecoin in existence. It was introduced in 2018 by the "Centre Consortium" with the assistance of Circle Internet Financial and the Coinbase exchange, two significant organizations. The US has been discussing its own digital currency for some time, but it keeps debating with itself whether such a currency would unintentionally render banks useless (which is reportedly deemed "a terrible thing"). The main rival of USDC up to this point has been USDT ("Tether"), which has, to put it kindly, had a troubled past.

USDC is a "stablecoin" in any case: According to USDC, this means: A stablecoin is a digital currency based on the blockchain that combines the advantages of an open, global cryptocurrency with the price stability of conventional fiat money. The US dollar, the euro, the pound, gold, silver, and even a digital yuan (this is a "CBDC" - a Central Bank Digital Currency, which is formally supported by China) are all stablecoins that are currently available in the crypto realm.

Why is USDC useful, then? What distinguishes it from other stablecoins? How does it outperform a dollar?

Several of the more trustworthy blockchains now include a secure US dollar equivalent in the form of USDC. Algorand, Solana, Tron, and Stellar are just a few of the blockchains that support USDC, in addition to the primary DeFi standard of Ethereum. The world of "actual" money may be easily represented by having a digital dollar on a blockchain, and it also serves as a reference point for the value of other tokens. Companies who want to get involved in digital assets can do so with ease. Without leaving the bitcoin sector, it permits lending and borrowing in USD. Additionally, it makes it possible to make payments and settlements more freely and internationally. Additionally, it enables developers of all stripes to include USDC into their financial services, thereby expanding the ecosystem's scope and value. To make integration simple, they even have an API (application programming interface). With Ethereum's 2.0 upgrade success, there is now a huge increase in the number of new financial apps.

Why would you want to invest in USDC?

You are, of course, investing in dollars, which serve as the world's reserve currency, at its core. The advantage of USDC over the actual dollar is the possibility of higher yields in the digital economy for investors who park (or "stake") their coins. Each USDC coin is intended to be backed by a real dollar or an equivalent and to be instantly redeemed for one. The coin would fall apart if this promise was ever broken. Due to this, Circle promises on their website that they take its assets seriously: "USDC is always redeemable for U.S. dollars at a 1:1 ratio because it is entirely backed by cash and short-dated U.S. government obligations. We make available monthly attestation reports from Grant Thornton on the reserve balances supporting USDC. Washington, D.C., Puerto Rico, and 46 other states in the United States have granted Circle money transmitter licenses.

Risks

The coin being under-backed or fundamentally weak is one of the main concerns associated with cryptocurrencies. Through openness and strong support, USDC eliminates this risk. The hazards associated with USDC are similar to those associated with other forms of cryptocurrency. For instance, exchanges or wallets where you might store it are susceptible to hacking. Your ability to move or interact with your funds may be impacted by infrastructure issues or faults. Additionally, there is a chance that when borrowing becomes more accessible, the interest rates currently offered on USDC deposits will merely alter. Naturally, any business you entrust with your money online must be reputable and trustworthy, therefore it's up to the brave investor to investigate the company's website (particularly the inconspicuous connections) and its founders (what have they done before?). Of course, there's also a chance that the US currency may fail, but if that occurs, we'll all have more pressing issues to deal with, like how to stop Bitcoin HODLers from bragging about their $1 million worth of bitcoin.

Why invest in USDC with HexaAi?

HexaAi combines two accounts with a reasonable interest rate on your USDC, one with no lock-in and one with a 90-day lock-in period. Because of the bank-grade wallet security provided by our partner Fireblocks, your coins are secure. Download the future HexaAi app from the App Store or Google Play to sign up through the HexaAi website. You can seek verification following registration (photo ID, proof of address, selfie). After that, you can buy a Node Plan on the HexaAi Exchange and send USDC to fund your account. You can view the interest added every second in real-time after pressing the "invest" button and entering the amount of USDC you wish to invest (albeit it is added daily). It is similar to seeing the moon landing, only there are many more zeros. In conclusion, USDC is the vehicle that gives you the benefits of crypto without any of the heartbreaking daily variations in value that the attentive bitcoin hodler has endured over the years! If you want your funds to grow slowly and cautiously, then USDC is the way to go! What are you still holding out for?

HexaAi is now accepting USDC investments!