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Coinbase Lets You Buy and Sell USDC Stablecoin (techcrunch.com)
An anonymous reader quotes a report from TechCrunch: A few weeks after Circle announced the launch of USD Coin (or USDC for short), Coinbase also announced that customers can now buy, sell, send and receive USDC on Coinbase. A USDC is a token that is worth exactly 1 USD. Its value is going to stay stable against USD -- hence the name stablecoin for this type of coins. Unlike traditional cryptocurrencies, you can be sure that the value of your USDC wallet isn't going to fluctuate like crazy. It opens up new possibilities and use cases.
While Coinbase lets you hold USD in your Coinbase account, this isn't safe. If somebody hacks into your account, you could end up with an empty wallet. That's why you should always try to control the keys of your wallet and transfer your coins to a safer wallet, such as a Ledger wallet or at least a software solution like MyEtherWallet. But if you want to short cryptocurrencies without sending your USD back to your bank account, you can now convert your tokens to USDC. This way, it'll be easier to buy cryptocurrencies again in the future. And maybe you can avoid paying taxes by hiding your tokens from taxation authorities USDC is an ERC-20 token that leverages the Ethereum blockchain and ecosystem. In an effort to regulate USDC, Circle, Coinbase and others have created the CENTRE consortium to define the policies around stablecoins. "For instance, if you want to handle stablecoins on your exchange, you need to send regular audited reports that prove that you have as many USD sitting on a bank account as issued tokens," reports TechCrunch.
While Coinbase lets you hold USD in your Coinbase account, this isn't safe. If somebody hacks into your account, you could end up with an empty wallet. That's why you should always try to control the keys of your wallet and transfer your coins to a safer wallet, such as a Ledger wallet or at least a software solution like MyEtherWallet. But if you want to short cryptocurrencies without sending your USD back to your bank account, you can now convert your tokens to USDC. This way, it'll be easier to buy cryptocurrencies again in the future. And maybe you can avoid paying taxes by hiding your tokens from taxation authorities USDC is an ERC-20 token that leverages the Ethereum blockchain and ecosystem. In an effort to regulate USDC, Circle, Coinbase and others have created the CENTRE consortium to define the policies around stablecoins. "For instance, if you want to handle stablecoins on your exchange, you need to send regular audited reports that prove that you have as many USD sitting on a bank account as issued tokens," reports TechCrunch.
you could just hold a dollar in a bank where the government guarantees your money...
I just transferred all my money into Stablecoin. I make $50,000 in IT in Silicon Valley so I have quite a bit to invest.
I'll be introducing my StableGeniusCoin currency next month. It uses advanced cryptographic blockchain technology that guarantees that if you lose your investment, the Mexicans will pay for it.
I don't care if it's 90,000 hectares. That lake was not my doing.
Somebody else realized that you could announce a digital token, claim it's worth $1 per, make some vague insinuations about hiding from taxes and buying shady stuff, and stupid people would give you actual dollars.
Odd there haven't been more of these actually. I guess they've all been gambling they can make more than $1 per coin by letting the "value" float.