Crypto Academy Week 7 Homework Post For @yohan2on - Stablecoins (Part 2)

This week the crypto class has entered its 7th week, so I will try to explain the homework given by professor @yohan2on about the material, namely stablecoins part 2. As for what I will try to explain this week is about USD Coin (USDC).

USD Coin (USDC)

source

USD Coin (USDC) is part of stablecoins, which are innovations from the cryptocurrency world to overcome several problems such as price fluctuations. This coin is very trusted because it is directly guaranteed by the United States dollar currency, while this coin was launched in 2018 by a company called center. Because this coin is directly guaranteed by the US dollar, the price is directly pegged to the US dollar, meaning that if we have 1 USDC coin then it is the same as if we have 1 US dollar on the ethereum blokhain network. As we all know the Fiat US Dollar currency is very stable than other fiat currencies so this coin is very suitable for transactions. USDC coins are very easy to operate such as storing, sending, and exchanging with other crypto assets because these coins are directly on the other block network. This is very easy for people who have USDC assets because usually if we want to send money to another country the process is very complicated and certainly takes a long time and process because we have to take care of it directly to a financial institution.

We can get USD Coin (USDC) directly by buying it at the center company or we can get it through an exchange, we don't get this token directly from the issuer directly but from a third party, but we still have the USDC token and we can use it for transactions directly according to what we have planned.

Price and Charts USD Coin (USDC) Price and Charts

Source (Screenshoot from Coingecko)

As shown, the screenshot of the coingecko costs USDC 1: 1 to US dollars. And the garafik is very stable and remains pegged at 1 US Dollar, so it can be said that this coin is very suitable to be called Stablecoins.

The Convenience Provided If You Like USD Coin (USDC)

• This token is on another block network, so this token is very suitable for transactions, such as sending money between countries easily and cheaply, so having this token is very efficient for the process.
• The value is very stable as we can see in the chart above. So this token is very suitable to be used as a temporary place to store investment before we start bigger investments such as buying bitcoin and other coins if we see an opportunity to get a profit from these coins.

Maybe this is all I can explain on this week's homework, hopefully useful

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@yohan2on
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