Cryptocurrency Q&A
Do I need ETH to send USDC?
Do I need ETH to send USDC?
BitcoinBaroness
Sun May 12 2024
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6 answers
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I've been exploring the world of cryptocurrency, and I'm particularly interested in using stablecoins like USDC. However, I'm a bit confused about the process of sending USDC. Do I need to own Ethereum (ETH) in order to send USDC? I've heard that USDC is an ERC-20 token, which suggests some kind of association with Ethereum, but I'm not entirely sure how it works. Could you clarify this for me? Is ETH a prerequisite for sending USDC, or is there another way to do it? I'd appreciate any information you can provide to help me understand this better.
6 answers
CryptoPioneer
Tue May 14 2024
BTCC, a UK-based cryptocurrency exchange, offers comprehensive services for crypto enthusiasts.
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CryptoKnight
Tue May 14 2024
Transactions on the Ethereum network, including sending ERC-20 tokens, require a fee.
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VoyagerSoul
Tue May 14 2024
This fee, known as a miner's fee, is paid in Ether (ETH).
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CryptoAlly
Tue May 14 2024
Therefore, to successfully send ERC-20 tokens, you must have ETH in your wallet.
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MoonlitCharm
Tue May 14 2024
When sending ERC-20 tokens, such as USDC, DAI, BAT, and MKR, it's essential to understand the underlying mechanics.
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