If you’re looking to get started with stablecoins, look no further than USDC — it’s a secure, popular, and reliable way to begin. USDC is issued by Circle, and designed to maintain a stable value tied to the US dollar and fully backed by reserves. This makes USDC an appealing option for those who want to enjoy the benefits of blockchain-powered digital assets while avoiding the price volatility often associated with cryptocurrency. This guide will show you how to easily purchase USDC on Robinhood, a popular and user-friendly financial services platform that supports cryptocurrency trading.
Why buy USDC?
USDC offers a range of practical applications, making it a versatile financial tool. Consider USDC’s four main use cases:
Send: USDC makes it possible to transfer value quickly and affordably. With high speeds and low costs, USDC is perfect for peer-to-peer transactions, international remittances, and financial aid — especially for those in regions with limited banking infrastructure. This makes USDC a more efficient alternative to traditional methods of sending money.
Spend: USDC is widely accepted as a payment method by merchants, both online and in person. Its stability and integration with various platforms offer convenience for consumers and businesses alike, ensuring a smooth payment experience.
Save: USDC makes it possible for people to save money, even without access to a traditional bank account. People with internet-connected devices in over 180 countries can access and save USDC via digital wallets. And with a stable value tied to the US dollar, USDC promotes financial inclusion and helps enable participation in the digital economy.
Trade: USDC plays a crucial role in the decentralized finance (DeFi) ecosystem as a stable medium of exchange. USDC’s dollar-backed stability reduces volatility for those lending, borrowing, or trading digital assets. However, users should always be aware of the associated risks and regulations within the DeFi space.
Why buy USDC on Robinhood?
Robinhood Crypto is a feature of the broader Robinhood financial platform, and it’s most widely known for its commission-free crypto trading. Robinhood Crypto is an easy-to-navigate platform that’s particularly attractive to beginners who are new to cryptocurrency investing. If you’re looking for a simple and streamlined way to buy USDC, Robinhood might be right for you.
Step-by-step guide to buying USDC on Robinhood
- Open a Robinhood account: If you don't already have one, create a Robinhood account and complete the necessary account verification steps.
- Link your bank account: Link your bank account (or another approved payment method) to your Robinhood account to deposit funds.
- Search for USDC: In the Robinhood app, search for "USDC" using the search bar.
- Enter order details: Enter the amount of USDC you want to purchase.
- Review and confirm: Review the order details, including any potential fees. Confirm the order to complete your USDC purchase.
Storing and using USDC on Robinhood
USDC purchased on Robinhood is stored within your Robinhood account. Currently, Robinhood's crypto functionality is primarily focused on buying, selling, trading, and holding. Robinhood does not yet offer features to transfer USDC to external wallets or to connect to DeFi protocols.
Robinhood fees and considerations
Robinhood currently offers commission-free trading for USDC, meaning you won't pay explicit trading fees when buying or selling USDC on their platform. However, be aware of potential spread costs (meaning you may buy at a higher price than you can sell at any given moment), which may be incorporated into the price you pay for USDC. While using Robinhood’s crypto platform, be sure to stay informed about any potential changes to Robinhood's fee structure.
Buying USDC on Robinhood
Robinhood simplifies the process of buying USDC with a user-friendly interface and by forgoing charging direct fees on trades. If you're looking for a straightforward way to acquire USDC and add this stablecoin to your portfolio, Robinhood offers a convenient, accessible, and beginner-friendly platform to do so.
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:
- How to buy USDC on Binance
- How to buy USDC on Bitso
- How to buy USDC on Bitstamp
- How to buy USDC on Bybit
- How to buy USDC on Coinbase
- How to buy USDC on Coinhako
- How to buy USDC on Crypto.com
- How to buy USDC on DolarApp
- How to buy USDC on Kraken
- How to buy USDC on Lemon
- How to buy USDC on Mercado Bitcoin
- How to buy USDC on Moneygram
- How to buy USDC on Nubank
- How to buy USDC on OKX
- How to buy USDC on Ripio
- How to buy USDC on TruBit
- How to buy USDC on VALR