A digital currency issued by Circle, USDC is a stablecoin whose value is linked 1:1 to the US dollar. Fully backed by cash and cash equivalent reserves held at regulated financial institutions, USDC aims to maintain this stable value at all times, making it an ideal choice for those who want to enter the digital asset space while mitigating against extreme price volatility.
In this guide, we'll explain how to easily purchase USDC on Bybit, a secure platform suitable for both novice and more advanced users.
Why buy USDC?
USDC offers a variety of practical uses that can accommodate many needs. Here's some of what you can do with USDC:
Send: USDC facilitates an efficient transfer of value from one person to another, whether it's to a friend, family member, or someone across the globe. It's particularly beneficial for cross-border remittances, especially to those in areas with limited banking access.
Spend: USDC is accepted by a growing number of brick and mortar locations around the world as well as with many online merchants, allowing you to use it easily for everyday purchases. Its stability and seamless integration with thousands of payment platforms make it a convenient choice for all.
Save: Even without a traditional bank account, you can utilize digital wallets to hold, store, save and manage your USDC for whatever you might need.
Trade: USDC is a stable medium of exchange in the decentralized finance (DeFi) ecosystem, providing a reliable and trusted way to store value while executing your trading strategies.
Why buy USDC on Bybit?
If you're looking for a platform with advanced trading tools and features to efficiently deploy your USDC purchase, Bybit is an excellent option. Known for its derivatives trading and margin products, Bybit also offers a user-friendly spot market where you can easily buy USDC. This makes it a great choice for those who want to simply save their USDC, as well as those who want to explore more sophisticated trading strategies — all of whom benefit from the stability of USDC.
Step-by-step guide to buying USDC on Bybit
Follow these steps to buy USDC on Bybit:
- Register and verify: Visit Bybit.com and click "Register." Enter your email address or mobile number and create a secure password. Complete the Know Your Customer (KYC) verification process by providing the necessary identification documents.
- Deposit funds: Go to the "Assets" section and select "Spot Account." Choose your preferred deposit method (cryptocurrency transfer or fiat deposit via credit/debit card). Follow the instructions to deposit funds into your Bybit account.
- Navigate to spot trading: In the Bybit interface, go to "Spot" and search for "USDC" in the search bar. Select the USDC trading pair you want to use (e.g., USDC/USD).
- Enter order details: Choose your order type (market or limit) and enter the amount of USDC you want to buy.
- Execute the trade: Review the order details, including the price and any trading fees. Confirm the order to complete your USDC purchase.
Storing and using USDC on Bybit
Bybit offers flexible storage options for your USDC. You can keep it in your Bybit Spot Account for easy access to trading or transfer it to other accounts with different features and benefits offered by Bybit. Bybit also allows you to withdraw your USDC to an external, self-custody wallet for increased control over your assets.
Fees and considerations
Deposit fees for USDC are typically free, while withdrawal fees vary. Familiarize yourself with Bybit's fee structure and consider factors like trading volume and order types to optimize your costs when using Bybit’s platform. And, always remember to do your own research before engaging with any financial services platform.
Buying USDC on Bybit
Bybit offers a comprehensive platform where you can buy USDC, send, spend or save it, and delve into more advanced trading strategies with a diverse range of products and features. If you're looking to combine the stability of USDC with both beginner and advanced trading tools, Bybit provides a full suite of resources and ample USDC liquidity to support your crypto journey.
Learn how to buy USDC on other leading digital asset platforms
The world’s trusted digital dollar is widely available on top marketplaces around the globe:
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