The stable coin known as USD Coin (USDC) is a type of cryptocurrency that is linked to assets denominated in US dollars. One USDC is intended to have the same value as $1 and is intended to remain stable at this value. USDC is a form of tokenized U.S. dollar; its value is equivalent to that of the dollar.
Stable coins are a sort of cryptocurrency that uses reserve assets like dollars or euros to support its worth in order to maintain a stable price. The USDC price stability stands in stark contrast to the well-known price swings of other cryptocurrencies like Bitcoin and Ethereum.
Trading USDC in Nigeria
The current restriction on cryptocurrency activities in Nigeria hasn’t changed people’s opinions about crypto assets, but it has made it a little more difficult than it used to be to exchange cryptocurrencies for cash. All commercial banks are not permitted to transact with any cryptocurrency organizations or international crypto exchange platforms, according to the central bank. Due to this, local cryptocurrency exchange platforms have developed, making it simple for you to sell your cryptocurrency and get the equal amount in naira in your bank account. Simply transmit your cryptocurrency to the platform’s wallet address, and the value in naira will be transferred to your account without any indication that it came from an exchange platform for digital currencies.
Where To Trade USDC For Naira
Nevertheless, some cryptocurrency exchange companies don’t make this process as simple as it ought to be; they don’t necessarily have bad motives; they just don’t provide their consumers with good service. This is why certain exchange platforms are difficult for bitcoin traders to trust; not ours, though.
Here’s where Dart Africa comes in. Dart Africa is a local cryptocurrency exchange platform that allows you to quickly and easily exchange your USDC, Bitcoin, Ethereum, and some other altcoins for cash. Dart Africa is a trustworthy exchange platform that prioritizes client pleasure.
You must first register for an account with us in order to sell your USDC. Provide a working phone number and email address. You can sell your USDC or any other cryptocurrency for the best possible exchange rate with simply this account. To find out how much your USDC and other crypto coins are worth, use our coin calculator.
Cryptocurrencies traded on Dart Africa
BitcoinEthereumDogecoinLitecoinUSD CoinUSDT Tether, etc.
Use Cases for USDC
The following are some applications for Dollar Coin as a stable coin:
Hedge against volatility: By carefully purchasing a stable coin like USDC, investors with exposure to other cryptocurrencies can lower the volatility of their portfolios. Holding USDC during times of intense market volatility can aid in keeping the value of a portfolio stable.Stable price-pegging: The stable coin can stand in for equity ownership or fund investments thanks to USDC’s price stability.Remittances: Money can be transferred across borders using USDC. Without utilizing a bank account or worrying about the price fluctuating throughout the transaction period, recipients can store USDC.U.S. dollar exposure: You can include USDC in your cryptocurrency portfolios if you’re a non-US investor looking to increase your exposure to the US dollar.Hedge against inflation: Holding a stable coin like USDC can help investors preserve the value of their money from currency inflation.
Tips for Protecting Your Digital Currency
Store Offline When Possible: Owners of cryptocurrencies typically keep their digital currency in a password-protected online wallet on their phone. However, like most online services, hot wallets are susceptible to hacks. By taking the coin offline, the vulnerability can be significantly decreased. Using an offline wallet, also known as “cold storage,” such as a hardware wallet or paper wallet, could lessen the danger associated with keeping digital cash.Use Two-Factor Authentication: Use bitcoin wallets and sites that require at least two-factor verification to keep your cryptocurrency secure. In many instances, the first security measure would be entering a password like any other login, and the second security measure would be a password or PIN given to your phone number, email address, for example. The Google 2FA app can potentially be linked to a platform for cryptocurrency trade.Be Aware and Complete Due Diligence: Even though scammers frequently seek to carry out phishing assaults, you can avoid being one of their prospective victims by becoming familiar with the numerous strategies they employ.
Where To Trade USDC For Naira
You should exercise caution when opening emails, pay attention to website Addresses, and avoid entering your cryptocurrency private key in any unsecure locations. To keep your information secure, whether it relates to your cryptocurrency wallet, credit card, email login, or phone number, try to develop strong passwords that are challenging to decrypt. Your bitcoin wallet could be compromised if someone gains access to some of your personal data.