Review on USD Coin by phuong cong
USDC is a reputable and leading stablecoin in stability
USDC is issued by the Circle company. It is one of the leading start-ups in banking and it bought the POLO exchange before it fell into the hands of Justin Sun.
The value of 1 USDC is anchored to 1 USD, USDC runs on the ERC20 platform launched in 2018 and is listed on the Coinbase exchange. Currently almost all exchanges list USDC.
It is the second largest by market cap in the cryptocurrency market after USDT.
USDC ensures financial transparency
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Pros
- USDC has a large market cap, high liquidity, and is listed on most major exchanges
- Ensure financial transparency under the law of the United States and major banks
- As a product created by unicorns in the industry, USDC is very prestigious
- The USDC to USD conversion fee is free to Cricle and its partner banks
- USDC can be stored on multiple wallets
Cons
- Usdc runs on Blockchain ETH so will have problems with transfer fees when ETH gas is very high currently which is a drawback compared to USDT
- USDC is more likely to be owned by institutions than by individuals
- Converting USDC to USD has many difficulties when you are not a US citizen
- Derivative exchanges have not yet used USDC as a formal trading contract for their products
