How to Buy USDC with Moneygram

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In a world steadily moving on-chain, finding accessible ways to connect the traditional finance ecosystem with the blockchain ecosystem is becoming more and more relevant to individuals around the globe. Moneygram, a well-known name in the realm of traditional money transfers, now offers a unique service: buying USDC with cash at their physical brick-and-mortar locations.

This service opens up exciting opportunities for those who seek the benefits of transacting with digital assets but may not have access to traditional banking services.

This guide will walk you through the process of buying USDC at Moneygram, and detail the benefits you should consider before doing so.

Why buy USDC?

USDC is a stablecoin backed at a 1:1 ratio by US dollars and cash equivalents, such as short-term US Treasuries. USDC offers stability and a reliable store of value in the often volatile cryptocurrency market, and makes for a compelling choice in digital currencies because its value is designed to remain consistent with the US dollar.

Transactions with USDC are near-instant and low-cost, especially when compared to international remittances through traditional financial services. Plus, USDC is widely accepted by merchants around the world both online and in-person, in addition to the large majority of platforms, products, and services in the Web3 space.

Send: Send money quickly and affordably to friends and family worldwide, even if they don't have a bank account.

Spend: Use your USDC to pay for goods and services where accepted, or convert it to local currency for everyday spending.

Save: Hold USDC as a stable store of value, protecting your savings from volatile markets, especially in regions with economic uncertainty.

Trade: Use your USDC to trade amongst a wide range of cryptocurrencies and participate in the growing world of decentralized finance (DeFi) through exchanges and trading platforms.

Why buy USDC on Moneygram?

Moneygram provides a unique advantage for buying USDC because you can buy USDC directly with cash at participating Moneygram locations, making it accessible to those who prefer or rely on physical currency for their transactions.

With Moneygram's extensive network of locations worldwide, it's convenient to buy USDC in various countries. And importantly, you don't need a bank account to purchase USDC through Moneygram, opening the door to millions of people around the world who are unhappy or underserved by the financial services offerings in their region.

Step-by-step guide to buying USDC on Moneygram

Follow these steps to buy USDC on Moneygram:

Download a compatible wallet: Choose a digital wallet that supports USDC on the Stellar blockchain and is compatible with Moneygram. Popular options include Vibrant and Lobstr. Download the app and create an account.
Find a Moneygram location: Use the Moneygram website or app to locate a participating agent near you that offers USDC purchases.
Initiate a "cash-in" transaction: Open your digital wallet app and start a "cash-in" transaction. Select Moneygram as the payment method and enter the amount of USDC you wish to buy.
Visit the Moneygram location: Take the reference number generated by your digital wallet and a valid government-issued ID to the Moneygram location you selected.
Complete the transaction: Give the Moneygram agent the reference number and the cash amount for your USDC purchase. The agent will process the transaction, and the USDC will be deposited into your digital wallet.

Storing and using USDC on Moneygram

After you've purchased USDC, it will be stored in your chosen digital wallet. It’s important to note that Moneygram does not offer custodial services for your USDC, meaning Moneygram cannot and will not hold your USDC on your behalf.

Once your USDC is in your digital wallet, you retain full control of your funds and with that control comes the responsibility of securing and managing your own USDC. From your digital wallet you can send, spend, save or trade USDC, as previously outlined above, with thousands of providers around the world that accept USDC and digital assets.

If needed, you can cash out your USDC at participating Moneygram locations by initiating a "cash-out" transaction in your digital wallet.

Moneygram fees and considerations

Moneygram may charge fees for USDC transactions, which can vary by location and transaction amount. Make sure to carefully review the fee details provided by Moneygram and your digital wallet provider before completing your purchase.

It's also crucial to ensure you're using a secure and reputable digital wallet to store your USDC. Do your own research before engaging with any financial services product or platform to appropriately understand any relevant risks or benefits of doing so.

Buying USDC on Moneygram

Moneygram's innovative approach to offering USDC purchases with cash provides a valuable bridge between traditional finance and the world of cryptocurrencies.

By following the steps outlined in this guide, you can leverage Moneygram's accessible platform to acquire USDC and participate in the growing digital economy, regardless of your banking status or reliance on cash transactions.

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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