Cryptocurrency Q&A
Is USDC backed by Bitcoin?
Is USDC backed by Bitcoin?
SophieJones
Sun May 12 2024
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6 answers
1604
Could you please clarify if USDC is indeed backed by Bitcoin? I've been hearing some rumors and discussions on this topic, but I'm still quite uncertain. As a cryptocurrency enthusiast, I'm always eager to learn more about the underlying mechanisms and assurances of stability in these digital assets. If USDC is indeed backed by Bitcoin, it would certainly add another layer of trust and reliability to this popular stablecoin. However, if it's not, I'd like to understand what other assets or mechanisms are in place to support its value stability. Could you provide some insights into this matter? I'm really curious to know the answer.
6 answers
Giulia
Tue May 14 2024
USDC maintains transparency through monthly attestations.
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MysticStorm
Tue May 14 2024
BTCC is a UK-based cryptocurrency exchange offering diverse services.
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Chloe_martinez_explorer
Tue May 14 2024
Among BTCC's offerings are spot trading services.
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HanjiHandiwork
Tue May 14 2024
USDC is recognized as a fiat-backed stablecoin.
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NavigatorEcho
Tue May 14 2024
Futures trading is also available on the BTCC platform.
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