Myths and facts about USDC

USDC is a better cryptocurrency than Bitcoin

This is a myth and a fact… It depends on what you’re looking for.

Unlike Bitcoin, USDC is a stablecoin, which gives it different traits that may benefit certain investors.

Stablecoins are a type of cryptocurrency programmed to track the value of another asset like government monies or gold.

They are cryptocurrencies backed 1-to-1 by an underlying government fiat currency (US Dollars or Euros) stored in a traditional financial institution. Simply put, stablecoins are a digital version of fiat money and are pegged to that currency.

For example, USD Coin (USDC) is a stablecoin that is pegged to the US Dollar, and as such, the value of one coin is $1.

USDC traits

Rand-Hedge: USDC gives you US Dollar exposure. By holding USDC, you are dodging the effects of rand depreciation and protecting your wealth in the process.

Low volatility: USDC provides a stable dollar-based value, giving it zero volatility against the dollar.

It is safe for me to save in USDC

A relative fact

1. USDC is a stablecoin.
2. Its volatility and price risk is negligible.
3. USDC tracks and is fully collateralised at 1-to-1 against the US Dollar.

While USDC is safe when compared to any other cryptocurrencies, all cryptocurrencies have inherent risks. But it’s not only crypto - all investments carry risks, and you stand the chance of losing more than you put in. This is what makes the market what it is, however, and produces returns.

Yes, USDC is not insured, but most banks with insurance only cover you up to a certain amount. Remember African Bank? How many people do you think got their money returned to them? The risk of loss issue only comes into play if the exchange you bought the USDC on went out of business. Therefore, you should make sure your exchange is secure and fully collateralised.

At investment platform Revix, you can gain access to USDC and easily add it to your portfolio. Revix is a fully collateralised platform with a greater than 1:1 collateralisation ratio and holds your assets on multiple multi-signature encrypted wallets all around the world. This is done to ensure that your assets are in the safest hand possible.

Brought to you by Revix, the simplest, effortless and safest way to invest in crypto.