How to buy USD Coin in 2022 ? – A Step by Step Guide

Where to buy USD Coin

Below are the popular crypto exchanges based on user experience,security,fee structure and supported coin, that you can use to purchase USD Coin (USDC) in 2022.

Before moving forward i want to make it clear that the ranking of these exchanges are in no particular order. With that in mind - Let’s explore these crypto platforms one by one so that you can select the best cryptocurrency exchange to buying your USD Coin.

1. Binance

Binance is well-known for its cryptocurrency-to-cryptocurrency trading services. Binance came onto the scene during the 2017 crypto craze and has since risen to become the world's leading cryptocurrency exchange. 

By trading volume, Binance is the world's largest online cryptocurrency exchange. The exchange is also one of the most rapidly growing venues in the cryptocurrency market today. You can easily buy and sell USD Coin (USDC) using our step by step guide.

The exchange offers investors one of the most diverse selections of cryptos accessible on the market today. The currencies and tokens on sale range from the markets largest by market cap to some smaller and less well-known coins and tokens.

Getting Started with Binance

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward, and you do not need to verify your account for level 1, which has a daily withdrawal limit of 2BTC.

For level 2, which enables up to 100BTC every day, you must upload a picture ID and wait for approval. There are still greater restrictions, but you must contact them personally to arrange for them.

Follow the steps below to open a Binance account:

Step 1: Visit the Binance Website

Step 2: Click on the “Register” option in the upper right-hand corner and complete the relevant information. Binance will validate your account details throughout the registration process, which may take a few minutes.

Step 3: Enable 2-Factor Authentication.

Step 4: Select and Link you payment Methods.

Step 5: Deposit and Start trading.

Binance Pros

• Over 365 coins are available for trading on a global scale.
• A diverse range of trading options and order types are available.
• Low transaction costs.
• Payment options are supported in a variety of ways.

Binance Cons

• The platform is complicated and may be confusing for some people.
• U.S exchange is more limited than others.
• Binance has ran into regulatory issues in a number of nations.

How to buy USD Coin on Binance

Binance has a rich collection of tools and dashboards that might be overwhelming. Its Buy Crypto page makes it easy to cut through the confusion and conduct straightforward transactions. It has a simple interface where you can buy, sell, or convert cryptocurrency.

1. Login to your Binance account and on the homepage click on the “Buy Crypto “Button.

2. You can purchase USD Coin (USDC) using a variety of fiat currencies. Enter the amount of fiat money you wish to spend, and the system will calculate the amount of USD Coin you can acquire.

3. Select the payment method and fill the required information than Continue.

4. Please double-check the payment information and costs, and complete your purchase within 1 minute, otherwise the amount of USD Coin you may get will be adjusted depending on the current market price. 

5. You'll be taken to your bank's OTP Transaction Page. To validate the payment, follow the on-screen instructions. Following that, you will be able to see the acquired USDC in your Binance Spot Wallet immediately.

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2. Coinbase Exchange

Coinbase was established in 2012 as a platform for sending and receiving Bitcoin. The firm has expanded to accommodate dozens of distinct cryptocurrencies and now employs over 2,700 people globally. Coinbase is a decentralised organization with no central offices. You can easily buy and sell USD Coin (USDC) on Coinbase Exchange using our step by step guide.

The exchange has users in over 100 countries, and clients exchange over $327 billion every quarter. Coinbase oversees a thriving bitcoin ecosystem that serves 9,000 financial institutions.

It has two distinct trading platforms, as well as a separate bitcoin wallet service. You're likely to find all you need to create and manage a bitcoin portfolio or trading plan among the Coinbase offerings.

Coinbase Exchange Features

1. More than 50 cryptocurrencies are supported.
2. Spread and Coinbase costs are included in trading fees.
3. You can use a free wallet service with private key access, or you can retain your cryptocurrency in your Coinbase account for a $2 minimum purchase or sale.
4. Insured policy against fraud losses and storage of the bulk of digital assets offline.
5. Accounts can be accessed using a web browser or a mobile app.
6. Crypto incentives for studying and an education Centre.
7. Option to upgrade to Coinbase Pro.

How to buy USD Coin on Coinbase Exchange

Follow our step by step guide below to start buying USD Coin (USDC) on Coinbase Exchange:

1. Log in to your Coinbase account.

2. On the upper right-hand side, click Buy / Sell.

3. Select USD Coin from the list of cryptocurrencies and click the Buy button.

4. Enter the amount you want to buy in USDC or your local money.

5. Choose a payment method (Credit card, Bank Transfer or Crypto).

6. To confirm your purchase, click Preview Buy (you can always click the back arrow to make a change).

7. If all of the information is accurate, click Buy to complete your transaction.

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3. Kraken

The Kraken cryptocurrency exchange was launched in 2011 in San Francisco, California, and was one of the country's earliest bitcoin exchanges. Its Bitcoin trading platform was formally established in 2013 and has since grown to over 4 million customers in 176 countries.

The exchange provides a diverse range of investing alternatives to individuals and organizations in almost 200 countries worldwide. More than 90 cryptocurrencies, including bitcoin, Ethereum, and others, are supported by the investing software.

However, it does not provide services to traders in New York or Washington State. Kraken offers a number of extra services to institutions, corporations, and wealthy people.

Kraken Pros

• Low trading fee.
• Global accessibility.
• For increased protection, there is a global account lock setting available.
• Margin trading is available to qualified users.
• Advanced charting and trading options are offered.
• Crypto exchange that is completely regulated.
• Excellent safety and security.
• A diverse range of digital assets.
• Crypto futures and margin trading are available.

Kraken Cons

• For new users, the trading interface may be overly difficult.
• Account financing may take some time.
• High deposit and withdrawal fees.
• There are only a few deposit and withdrawal options.
• Markets trading platform is only available to expert traders.
• Deposits via debit/credit card are only accessible in euro.

How to buy USD Coin on Kraken

Buying USD Coin (USDC) on Kraken is quite simple and straightforward.

1. Using the Buy Crypto button at the top of the page, pick the 'Buy' option.

2. Enter the name of the asset you want to purchase in the search area (in our case it is USD Coin). You may also go through the list of accessible crypto assets.

3. Enter the amount of cash you wish to spend, or use the toggle button to enter the amount of USD Coin you want to buy. Check that you have selected the right "Pay With" method before clicking the Preview button.

4. A confirmation screen will appear, displaying the asset volume being purchased, the stated asset price, fees, and the purchase cash amount.

5. If everything appears to be in order, click Submit Order to finish the order.

6. When buying with a debit or credit card, further validation with 3D Secure will be required.

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4. KuCoin

KuCoin is a cryptocurrency exchange based in the Seychelles. The service provided by KuCoin cryptocurrency exchange is not limited to buying and selling crypto tokens or exchanging crypto tokens for Altcoins or fiat currencies. Furthermore, KuCoin's cryptocurrency loan service at unique interest rates varies from the rest of the world's crypto exchanges.

The platform is straightforward and simple to use. It is organized into stages for simple registration, following which one may begin trading. The number of cryptocurrencies and fiat currencies supported is extremely astounding. Furthermore, KuCoin provides 10x leverage for margin transactions, making it a popular exchange for passive profits.

KuCoin, being a crypto exchange with a global reach, is a practical choice that is accessible from most countries. Nonetheless, because KuCoin is a non-US-based exchange, US persons over the FBAR threshold must disclose it in FBAR filings.

Getting Started with KuCoin

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward.

You can open an account with KuCoin by following the easy steps outlined below.

Step 1: To begin, go to the platform's main website.

Step 2: Then, to access the registration form, click the "Sign Up" option.

Step 3: Fill your required information. Verify your supplied email address or Phone Number by clicking on the verification link that was delivered to your inbox.

Step 4: You must provide your cellphone number with the country code to complete the two-step verification process.

Step 5: Now the Account has been created.

KuCoin Pros

• There are almost 200 cryptocurrencies supported.
• There are several payment options.
• Allows for the conversion of money to cryptocurrency and vice versa.
• Downloading mobile apps for Android and iOS devices is simple.
• Micro withdrawal wallets are now available.
• Trading commission is rather minimal.

KuCoin Cons

• Expensive costs when purchasing cryptocurrency with fiat currency (3 percent -12 percent).
• Fiat currency cannot be withdrawn.

How to buy USD Coin on KuCoin

Do you want to know how to buy crypto on KuCoin? This is also really simple. Follow the steps below to buy USD Coin (USDC) on Kucoin:

1.  Login to your newly created Kucoin Account, go to the Buy Crypto tab from the main menu.

2. After that, you must look for USD Coin to purchase. To do so, type (USDC) or (USD Coin) into the search box on the right side of the page.

3. KuCoin will then provide all of the possible trading pairs for the USD Coin.

4. Enter the amount  of USDC you want to buy in crypto or your local money.

5. Choose a payment method (Credit Card ).

6. To confirm your purchase, click Preview Buy

7. If all of the information is accurate, click Buy to complete your transaction.

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Other Exchanges to buy USD Coin

Aside from using above popular platforms, there are variety of smaller cryptocurrency exchanges where you can buy USDC.

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Buy USD Coin on Decentralized Exchanges.

Below, you will find comprehensive and detailed review about top rated decentralized exchanges using which you can buy USD Coin (USDC) easily.

1. Uniswap (v3)

Uniswap is a decentralised exchange (DEX) that allows users to finance liquidity pools and benefit from them.

The platform's user-friendly online interface allows users to exchange Ethereum-powered ERC-20 tokens. Previously, decentralised exchanges had small order books and poor UXs, leaving a huge opportunity for successful decentralised exchange.

Users no longer have to accept defects because they can easily exchange Ethereum-based protocols using a web 3.0 wallet thanks to Uniswap. You can do so without having to deposit or withdraw funds from a centrally controlled order book. Uniswap allows users to trade without the intervention of a third party.

How to buy USD Coin on Uniswap (v3)

In this section, we'll go through below steps on how to make your first USD Coin purchase on Uniswap.

Uniswap allows you to buy USD Coin (USDC) and any of the thousands of ERC20 tokens offered by the Ethereum network. To do so, you'll need sufficient ETH on hand to cover any transaction costs, as well as anything to exchange for the ERC20 token you desire mostly Ethereum or USDT (ERC-20).

 

Step 1: Navigate to the Uniswap exchange platform. Click the 'Connect to a wallet' option in the upper right corner and log in with the Metamask or Trust wallet.

Step 2: After logging in, the trading dashboard will be shown. Select the token you want to trade for, and the token you want in the top section (in our case USD Coin), You can also search USD Coin (USDC) in Coinmarketcap and copy/paste the USDC contract in uniswap.

Step 3: You are now ready to place your order. You can put a number in the top area to specify how much you want to spend, or a number in the bottom field to specify how much you want to purchase.

Step 4: At the bottom of the order menu, you'll see how much you'll be charged. If you're satisfied with these numbers, click the 'Swap' option. When you're finished, confirm the transaction, and it'll be processed. Once completed, your tokens will be available in your ERC20 wallet.

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2. PancakeSwap (v2)

PancakeSwap Exchange started in September 2020 on the Binance Smart Chain as an alternate automated market maker (AMM) to Uniswap Exchange, with cheaper transaction fees and faster speeds. While it began as just a copy and paste of Uniswap on some other blockchain, PancakeSwap Exchange has now evolved a number of features that have allowed it to be utilized more often than Uniswap.

With a variety of features and opportunities for users to make earnings, the platform currently has more Total Value Secured than Uniswap. PancakeSwap Exchange can meet your demands if you are seeking for a decentralised exchange with cheap fees and transaction expenses.

PancakeSwap (v2) Pros

• Pools and farms benefit from high APR/APY returns.
• Lower transaction costs than Uniswap.
• A diverse assortment of items.
• With an active community and developers, has more daily transactions than Uniswap.

PancakeSwap (v2) Cons

• Possible loss in liquidity pool.
• Prediction and the lottery might easily result in a loss of dollars (gambling).
• Because of its popularity, the network may get clogged.
• Many token scams are a possibility.

How to buy USD Coin on PancakeSwap (v2)

In this section, we'll go through below steps on how to make your first USD Coin purchase on Pancakeswap.

Step 1: Go to Pancakeswap.finance, click Connect Wallet and select Metamask or Trust Wallet. After connecting your wallet to Pancakeswap, you can now begin trading tokens on the Pancake official site.

Step 2: Click Trade > Swap from the main menu. Select the token you want to trade for, and the token you want in the top section (in our case USD Coin), You can also search USD Coin (USDC) in Coinmarketcap and copy/paste the USDC contract in Pancakeswap.

Step 3: You are now ready to place your order. You can put a number in the top area to specify how much you want to spend, or a number in the bottom field to specify how much you want to purchase.

 

Step 4: Before you finalize the conversion, go through the details and double-check that everything is in order. When you're finished, simply press "Swap" and then "Confirm Swap." That’s all.

As soon as the trade is verified, USD Coin will appear in your wallet.

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3. Quickswap

The QuickSwap network is a fork of UniSwap DEX. It is a DEX on Polygon blockchain, and uses the Ethereum blockchain.

On QuickSwap network, users can trade tokens on the Ethereum and Polygon networks. You can use the same QUICK account on both networks. It is important to understand that each network is different.

Before using QuickSwap, you should have a crypto wallet. Connect Quickswap you with your wallet. Most wallets are free, but the best ones come with multiple security features, you need to choose a hardware wallet to ensure the highest levels of security.

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4. Pangolin

The Pangolin project is a decentralized exchange that uses Avalanche Blockchain as a backend. This platform's automated market-making model allows users to make trades at a fraction of the price of the underlying currencies.

The native token of Pangolin (PNG) allows users to vote on development decisions and the creation of new liquidity pools. It will be distributed in a transparent fashion, and the community will be able to make decisions about what to do with it.

With transaction fees as low as a few cents, users can easily invest in the crypto market. In addition to the PNG, other top tokens on the platform include Wrapped AVAX (WAVAX), BENQI (QI), and Roco Finance (ROCO).

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5. OpenOcean

OpenOcean is a decentralized exchange that aggregates derivatives, lending products, and insurance products on multiple blockchains.

They also have a large community of existing users. The company's roadmap is full of exciting features. Additionally, the platform is transparent when it comes to trading fees and aims to offer optimal user experience for its users.

If you're a crypto investor and want to buy using decentralized exchange, OpenOcean can be the right choice for you.

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Conclusion

Choosing the best cryptocurrency platform for USD Coin (USDC) might be a difficult task, there are various factors that one should consider before selecting a crypto exchange. These include the fees structure, security, exchange features, and whether it is based on fiat or crypto.
Remember, once you have shortlisted some exchanges, do your research on each of them to identify the most appropriate for you.

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