USD Coin Review – Is USD Coin Legit or Scam

USD Coin review

USD Coin is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.

The benefits of USD Coin are closely linked to the utility of the tokens which will be reviewed on this article.

Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.

Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.

USD Coin Review

About USD Coin

A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review USD Coin token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.

What is USD Coin?

USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S.

Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.

The stablecoin originally launched on a limited basis in September 2018. Put simply, USD Coin’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.

Several use cases have been unveiled for the USD Coin.

As well as providing a safe haven for crypto traders in times of volatility, those behind the stablecoin say it can also allow businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming.

Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.

Who Are the Founders of USD Coin?

The Centre Consortium has two founding members. One of them is the peer-to-peer payment services company Circle, while the other is the Coinbase cryptocurrency exchange. Other crypto ventures are open to join this consortium.

Explaining the rationale behind USDC, Circle co-founders Jeremy Allaire and Sean Neville wrote: “We believe that an open internet of value exchange can transform and integrate the world more deeply, eventually eliminating artificial economic borders and enabling a more efficient and inclusive global marketplace that connects every person on the planet.”

In 2020, Circle and Coinbase collectively announced a major upgrade to USDC’s protocol and smart contract. The goal of these enhancements is to make it easier for USD Coin to be used for everyday payments, commerce and peer-to-peer transactions.

USD Coin Supply

There are 55.32B USDC in supply worldwide.

Pros and Cons of USD Coin

Pros of USD Coin  
  • There is a surge in the market price currently
  • Project whitepaper available
  • There is a community
  • Contract on Ethereum
  • They are fully decentralized
  • A lot of investors are ‘flocking’ to invest
  • It is listed on coinmarketcap
  • Good navigational website – USD Coin
Cons of USD Coin  
  • The coin is still under research and development
  • Multiple issues with its synchronizations between ledgers
  • Not listed on some exchanges
  • No Github profile
  • They have no reddit account
  • No Bitcointalk thread created
  • No traceable features on tradingview

Is USD Coin Legit or Scam?

A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.

According to research and reviews, USD Coin have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.

Is USD Coin Safe?

Being willing to invest in any token is a question entirely up to you to answer. USD Coin token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.

Make personal research on the coin, visit coin’s official website.

Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about USD Coin on the comment section below. Don’t forget to rate and leave USD Coin a review.

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