It seems like everyone wants to be involved in crypto these days. Hardly surprising, since the current global market cap is a whopping $1.88 trillion. With the limitless potential of these digital coins, experts predict that the crypto industry has no way to go but up.
As a result, more and more people want to invest in cryptocurrencies. In this guide, we’ll go over the basics of USD Coin – what it is and whether it’s a good investment opportunity in 2022, but also how you can become a part of the crypto revolution.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
How to Buy USD Coin with PayPal – Quick Overview
We’ve included a quick, easy guide to show you how to buy USD Coin with PayPal using eToro. Make sure to keep reading to find a more detailed guide and answers to some of the most burning questions – is it worth it to invest in USD Coin, what is the price prediction, and why should you use PayPal as a medium?
- Step 1 – Register on eToro – Open the platform and click “Start Investing”. Fill out the necessary information.
- Step 2 – Verify your account – To increase the security of the platform, you need to verify your account by providing proof of identity, such as a passport.
- Step 3 – Make a deposit – Open “Deposit funds”, choose PayPal as a preferred method, and follow the instructions.
- Step 4 – Buy USD Coin – Search for “USD Coin” or “USDC” in the search bar. Click “Trade” and choose the amount of USDC you wish to buy. Click “Open Trade” and you’re done!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
What is USD Coin?
The USD Coin differs from most other cryptocurrencies like Bitcoin, Ethereum, or Binance Coin. It is a stablecoin, which means that its price is tied to a specific asset. In the case of USD Coin, you’ve guessed it, the coin is pegged to the United States Dollar.
In simple terms, one USD Coin is always worth exactly one US dollar. Unlike other altcoins which fall victim to the high volatility of the market, USDC is anchored and has a stable value. As a result, purchasing USD Coin is a low-risk investment, but it’s also a great option for trading and purchasing other cryptos.
The coin itself is based on the Ethereum blockchain. Not only does the blockchain increase the security and regularity of the coin, but it also allows holders to trade with ETH wallets easily and quickly. As a result, it’s highly popular in the DeFi (decentralized finance) community.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
USD Coin Benefits and Price Prediction
Since the USDC is a stablecoin, the price predictions for it are intuitive – its price will always be $1USD. The coin is regularly audited and attested, so there’s almost no chance the USDC will drop below its anchored value. Since its inception in 2018, the USDC has reached a market cap of an impressive $50 billion, making it a great investment opportunity.
You may have heard of Tether, a similar stablecoin, whose value is also pegged to the USD. Although Tether may be more popular and widespread, the USD Coin is more transparent, making it a much safer choice. All USDCs are backed by reserved assets, so you’re at no risk of losing your investment.
More and more crypto platforms are using the USD Coin as a preferred choice for payments, as it’s quicker, safer, and faster than other, more traditional forms of payment, such as fiat currency. Overall, it’s safe to assume that the popularity of the USDC will only rise – and with it, the potential for a strong ROI.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Where to Buy USD Coin with PayPal?
Did you know that you can buy crypto directly from PayPal? However, at the time of writing, you can only purchase four coins on PP – Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. As a result, it’s much better to use a trading platform to buy USD Coin with PayPal.
Here are our favorites for 2022:
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eToro – Best Place to Buy USD Coin with PayPal
At the top of our list is eToro, an established broker. Founded in 2007, eToro has years of experience under its belt. As a result, the platform is polished to perfection, providing a great trading experience for both beginners and experienced users.
eToro supports numerous payment options, including PayPal. At the time of writing, 58 digital currencies are available on the platform, giving you plenty of trading options. The user interface is highly intuitive, and you can easily manage your own account.
Notably, eToro is famous for its social trading. On the platform, you can track and copy the portfolios of other successful traders. As a result, the company built a huge network, and it allows beginners to trade assets like professionals.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
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CoinBase – A Great Trading Platform Behind USD Coin
Interestingly, the USD Coin was launched in collaboration with Circle and CoinBase. CoinBase was founded in 2012 and it’s the largest trading platform in the US. One of the biggest benefits of using CoinBase lies in its huge market – you can trade almost 100 cryptocurrencies on the platform.
On top of that, there’s only a $2 minimum to begin your trading journey. It’s a great option for beginners who wish to dip their toes in the industry without spending a lot of money. CoinBase also features a mobile app (for Android and iOS), making it easy to trade on the go.
However, some users find the fees on CoinBase to be high. The fees range from 0.5% up to 4.5%, depending on the type of transaction. Additionally, some may find the interface to be slightly confusing.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
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Binance – One of the Largest Trading Platforms
Binance was launched in 2017, making it the youngest on our list. However, it managed to become one of the largest platforms in the world by trading volume in just a few years. That’s a strong testament to the platform’s quality.
Much like other established platforms, Binance is highly regulated and secure. You can purchase over 500 cryptocurrencies, and it has decent apps, both for Android and iOS. Generally speaking, Binance has low trading fees, making it a preferred choice for many.
However, the platform can be hard to navigate, making it slightly inaccessible for beginners. It features numerous trading tools which can be overwhelming. On the other hand, professionals may find the platform easy to use.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Step-by-Step Guide to Buying USD Coin with PayPal
Let’s see in detail how you can buy USD Coin with PayPal using eToro in just a few steps!
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Step 1 – Open eToro and create an account
To begin your trading journey, you’ll need to register on eToro. Open the platform’s official website and locate the “Start Investing” button. Once you’ve clicked on it, you’ll be asked to input some basic information, such as your username of choice, email address, and password. You can also link your existing Facebook or Google account.
To start trading on eToro, you need to verify your identity. To complete your profile, you’ll be asked to provide proof of identity and proof of address. This is simply a security measure that increases the safety of the platform. eToro does not store your personal information.
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Step 2 – Deposit money via PayPal
Once you’ve signed up for the platform, you need to make a small deposit. Depending on your location, you can begin trading for as little as $10! Click “Deposit” and choose PayPal as a payment method. eToro also allows you to make deposits via credit/debit cards, Neteller, Skrill, and much more. You’ll be directed to PayPal’s website, where you can link your account to eToro.
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Step 3 – Find USD Coin
Finding assets on eToro is quick and easy. Type “USD Coin” or “USDC” in the search bar, located at the top of the website. Click the “Trade” button next to the first option.
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Step 4 – Finalize the payment
A new window will pop up, where you need to finalize your payment. Input the amount of USD Coin you wish to purchase, as well as your method of payment (in this case, PayPal). Make sure everything you’ve entered is correct, and you will have USDC in your wallet in a few minutes!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Conclusion
To sum up, many people wish to join the crypto revolution. However, the market is notoriously volatile, making cryptocurrencies a risky investment, especially for beginners. A nice workaround is investing in stablecoins, whose value is consistent and anchored to a different asset.
The USD Coin is pegged to the United States Dollar, meaning its price is always exactly 1 USD. It’s on the Ethereum blockchain, making it a favorite of the DeFi community. On top of that, the coin is highly regulated, making sure you’re at no risk of losing your investment.
To purchase this stablecoin, we recommend using eToro. This article features a step-by-step guide on how you can easily buy USD Coin with PayPal. Happy investing!