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How to Buy USD Coin (USDC) Instantly in 2024 (Easy Steps)

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Steps to buy USD Coin (USDC) instantly

  • Choose a platform: First, choose a platform that supports your chosen payment method and boasts low fees. Then, create and verify an account to gain full access to the platform’s features.
  • Deposit funds: Next, decide on a payment method, double-check fees/limits, and initiate a deposit. Typically, bank transfers offer the best blend of low costs and high limits.
  • Buy USDC: Lastly, search for a USDC trading pair, decide how much to purchase, preview fees, and complete the purchase. Afterward, withdraw the USDC to a secure crypto wallet.

Quick summary:

  • USD Coin (USDC) is a dollar-pegged stablecoin.
  • You can buy USDC from a crypto exchange, P2P platform, trading desk, or specific wallets.
  • You must create a USDC wallet to store the assets after the purchase.
  • When buying USDC, credit/debit cards are quick and convenient, bank transfers offer low fees and high limits, while in-person trading is best for anonymity.
  • USDC transaction fees can be high if the Ethereum network is congested.
  • swissmoney lets you buy, sell, send, receive, and spend USDC from a single platform.

Figuring out how to buy USDC can take time and effort. There are many methods, but only some are suitable.

We break down the entire process of buying USDC while discussing any risks, highlighting the best platforms, and answering common questions. Let’s get started.

What is USD Coin (USDC), and why buy it?

USD Coin (USDC) is a US dollar-pegged stablecoin created by Circle.

USDC Homepage

The asset is designed to mirror the dollar’s value on a 1:1 basis, making it ideal for reducing portfolio volatility, long-term wealth storage, and as a transactional currency for purchasing goods and services.

How to use USD Coin (USDC)

There are many different ways to use USD Coin. The asset mirrors the dollar’s value, so it’s perfect for long-term wealth storage. Moreover, as it can be sent anywhere in the world for just a few dollars, it’s ideal for use as a transactional currency for spending.

  • Store of value: The cryptocurrency market is volatile, making storing large sums of money difficult. However, USDC is pegged 1:1 with the dollar, making it immune from the cryptocurrency market’s volatility.
  • Transactional currency: USDC can be sent anywhere in the world within minutes for roughly $3 to $15. There are no forms to fill out when transacting, and the amount you can send is unlimited. As such, USDC is excellent for larger purchases or transferring wealth between people.

To use USDC, you must buy the asset from a crypto exchange and withdraw it to a non-custodial or hardware USDC wallet. Once you have the USDC in a secure wallet, you can use it however you see fit.

Where to buy USD Coin (USDC)

If you want to buy USD Coin, you’ll likely wonder where to acquire the asset. Many platforms support USDC, so you should consider how you want to buy the asset and select a relevant platform.

USD Kraken

If you want to buy USDC using a crypto exchange, then Kraken, Binance, Coinbase, Crypto.com, and Bybit are excellent platforms with significant market share. Those looking for a P2P platform should consider LocalCoinSwap or Paxful.

📚Related: How to Spend Bitcoins & Crypto

swissmoney: Alternative for buying USD Coin

swissmoney is a leading financial services platform offering a wide range of features and services tailored to crypto enthusiasts.

swissmoney 1

The platform blurs the line between crypto and traditional finance, empowering users with total control over their money. swissmoney offers the following features:

  • All-in-one: swissmoney lets users manage fiat currencies and crypto on a single platform, making switching between the asset classes a breeze.
  • IBAN accounts: Unlike most other platforms, swissmoney offers dedicated IBAN accounts for GBP, EUR, USD, and CHF, making it easy and stress-free to send international payments.
  • Crypto wallet: swissmoney offers a free hot wallet to all users, making crypto storage simple. 
  • Crypto debit card: Ideal for people wishing to spend USDC, swissmoney offers a crypto debit card that can be funded using crypto or fiat.
  • Trading desk: swissmoney lets you trade, send, receive, and cash out crypto. However, you can also buy USDC with Swissmoney using the built-in trading desk.
  • No hard limits: Unlike other platforms that only support small transactions, swissmoney imposes very few limits on users, making it perfect for people holding substantial wealth in crypto.

How to buy USD Coin (USDC) on swissmoney

buy USDC swissmoney

Buying USDC on swissmoney is simple and takes just a few minutes. You can acquire USD Coin by following these steps:

  • Create and verify an account: First, create a swissmoney account and verify it by providing a photo ID, a selfie, and a few personal details. The verification process is quick and straightforward.
  • Deposit funds: After verifying your account, you must deposit funds. Add a fiat currency account, press ‘Top Up’, select a payment method, input your desired top-up amount, and complete the transaction.
  • Purchase USDC: After the funds arrive in your swissmoney account, add a USDC wallet account, then click ‘USDC,’ select ‘Trade,’ choose ‘Buy USDC,’ input how much you want to buy, preview fees, and complete the transaction. You can also buy USDC using crypto stored on the swissmoney platform.

Best ways to buy USD Coin

Users can buy USD Coin using several methods, each best for different scenarios. The best ways to purchase USDC include:

  • Crypto exchange: The most straightforward way to buy USDC is to use a crypto exchange. These exchanges offer many payment methods, typically boast low fees, and allow you to withdraw USDC to an external wallet easily.
  • P2P platform: Instead of a centralized exchange, you could use a decentralized crypto exchange or P2P platform to trade directly with another user. P2P platforms often boast high limits, low to no fees, and many payment methods. The platform provides an escrow service, making trading far safer than in-person purchases.
  • In-person: Similar to a P2P platform, you can trade in-person with another user to buy and sell USDC without limits or verification. While in-person trading is risky, it’s the most anonymous method for buying USDC.
  • Trading desk: If you plan on purchasing large amounts of USDC, it may be worth using a trading desk. Typically, trading desks are reserved for high-value transactions that could be troublesome on an exchange.

📚Related: Best Fiat to Crypto Exchange Allows Fiat Withdrawal

Different payment methods for buying USD Coin (USDC)

If you’re learning how to buy USDC, look at various payment methods and consider which is best for your needs.

To make this process easier, we’ve summarized the benefits and cons of six of the most popular payment methods.

  1. Bank transfers
  2. Debit/debit cards
  3. Apple Pay
  4. Google Pay
  5. Cryptocurrency
  6. Cash
Payment method Pros Cons
Bank transfers Cheap, high limits Time-consuming, heavily regulated
Debit/credit cards Fast, easy to use High fees, low limits
Apple Pay Convenient, simple Expensive, mobile-only
Google Pay Mobile-friendly, straightforward Costly, small limits
Cryptocurrency No limits, flexible Complex, already need crypto
Cash Anonymous, no verification needed Risky, hard to initiate

Step-by-Step Guide to Buying USD Coin (USDC)

While buying USDC is quick, it can be confusing if you’ve never done it before. We’ve broken down the entire process to ensure our readers can easily purchase the asset.

Step 1: Select a platform and create an account

  • When selecting a platform, you should consider your needs and which type of platform best suits them. Generally, crypto exchanges like Binance and P2P marketplaces like Paxful are good choices.
  • After choosing a platform, you’ll need to create an account and verify it by providing a photo ID and a few personal details. All regulated exchanges will require ID verification for fiat purchases.

Step 2: Deposit funds and buy USDC

  • Next, consider which payment method to use and select one with higher limits than your desired deposit amount. Then, press the ‘Deposit’ button, choose a fiat currency and payment method, enter how much to deposit, preview fees, and confirm the order.
  • Once the funds arrive in your exchange account, you can buy USD Coin. Search for ‘USDC,’ select a relevant pair, choose a price to buy at, enter how much USDC to buy, preview the order, and complete the transaction. Within a few seconds of the order being executed, the USDC will arrive in your account.

How to Buy USDC with Bank Transfer Instantly

How to Buy USDC with Bank Transfer Instantly

One of the most common ways of buying USDC is via bank transfer. Bank transfer payments have high limits and low fees but can take longer than other payment methods. To buy USDC with a bank transfer:

Step 1: Select a platform and deposit fiat

  • Choose a reputable crypto exchange that supports bank transfer deposits, then create and verify an account.
  • Next, you’ll need to deposit fiat. At this stage, you should consider any fees and limits. Then, use the ‘Deposit’ button to initiate a transfer and complete the deposit.

Step 2: Buy USDC and withdraw

  • To buy USDC, you must search for a USDC pair and details like purchase quantity and desired price. However, some platforms also support bank transfers as a payment method for their instant buy services.
  • After buying USDC, you need to withdraw it for safekeeping. You should use a cold wallet like a Ledger or a non-custodial wallet like MetaMask.

Important things to consider when buying USD Coin with a Bank Transfer

Are there any specific times when bank transfers are processed for USD Coin purchases?

Bank transfers are processed 24/7, but service can sometimes be slowed during high usage periods.

Do I need a verified bank account to buy USDC with a bank transfer?

You’ll need a fully working and ID-verified bank account to buy USDC via a transfer. Banks sometimes require extra information for crypto purchases, so you must have access to your bank.

📚Related: How to Buy Bitcoin with Your Bank Account Instantly

What information from my bank account will I need to provide?

You don’t need to provide any banking information. The exchange will provide bank details to which you can send the money.

Are there any fees associated with buying USDC with a bank transfer?

You must cover network, deposit, and withdrawal fees to buy USD coins via bank transfer.

What are the minimum and maximum amounts I can buy with a bank transfer?

Purchase limits vary between payment methods and platforms. Minimums are typically around $50, while maximums are much higher, from roughly $250,000 to $2.5 million.

Is sharing my bank account information with an exchange when conducting a bank transfer safe?

Sharing your bank information is safe as long as you’re using a trustworthy exchange within the crypto community.

How to Buy USD Coin (USDC) with Credit or Debit Card Instantly

How to Buy USD Coin (USDC) with Credit or Debit Card Instantly

Using a credit or debit card to buy USDC is preferred for those valuing convenience and speed above all else. To buy USD Coin instantly using a credit/debit card, follow these steps:

Step 1: Choose a platform and create an account

  • Before you can buy USDC, you need to select a platform. You double-check your chosen platform’s fees and whether it supports credit/debit card payments.
  • Once you’ve selected a platform, create an account and complete the ID verification process to gain full access.

Step 2: Buy and withdraw USDC

  • Most exchanges offer instant buy services, enabling users to purchase USDC without depositing funds. To use this service, navigate to the instant buy section, enter your desired quantity of USDC, and pay via card.
  • Once the payment is completed, withdraw your USDC to a secure wallet for safekeeping.

Important things to consider when buying USD Coin with a Credit or Debit Card

Are there any fees associated with buying USDC with a credit/debit card?

Buying USDC with a bank card usually incurs a premium of around 3%, in addition to transaction and withdrawal costs.

What are the minimum and maximum amounts I can buy with a credit/debit card?

Bank cards typically have relatively low limits. Usually, people can buy USDC for as little as $10 and as much as around $5,000 to $10,000.

Do I need to be verified to buy USDC with a credit/debit card?

You’ll need a verified exchange account to buy USDC with a card due to strict Anti-Money Laundering (AML) laws).

Could my credit/debit card purchase be declined?

Card transactions linked to crypto are often declined. However, if you can contact your bank and inform them you plan to buy crypto, you can reduce the rate at which your purchases are declined.

Will the USD Coin appear in my wallet right away?

As soon as the purchase is completed and processed (usually a few seconds), the assets will arrive in your USDC wallet. You can then withdraw to cold storage or a non-custodial wallet.

Is it safe to buy USDC with a credit/debit card?

Using a credit/debit card for purchases offers some extra consumer protection. As such, buying USDC with a card is safe if you’re using a trusted platform.

Are there any additional security steps I can take when buying with a credit/debit card?

Buying USDC with a card is safe. However, you can improve your security by setting up Two-Factor Authentication (2FA), using a unique password, and moving your crypto to cold storage after purchasing.

How to Buy USD Coin (USDC) without verification (No KYC)

To buy USDC from crypto exchanges like Binance or Coinbase, you must complete Know-Your-Customer (KYC) verification. However, you can buy USD Coin without verification using a Peer-to-Peer (P2P) marketplace or by trading in person.

USDC P2P Trading

As the tokens will not be stored in an exchange wallet, you should select the best USDC wallet before initiating a P2P or in-person trade.

  • P2P marketplace: Using a P2P marketplace like the Bybit offers is excellent for purchasing USDC without verification. You’re paired directly with another user selling USDC while the platform provides an escrow service, ensuring safe trading. Generally, P2P marketplaces boast low or no fees and high limits.
  • In-person: Trading with a USDC holder in person is ideal if you want to buy a large sum of crypto without completing KYC verification. While there are no limits or restrictions, finding a user willing to trade in person can be challenging, and the risk is far higher compared to a P2P marketplace.

What to consider before buying USD Coin (USDC)

Before you purchase USD Coin, you should be aware of several things. You should consider your personal circumstances and the broader market’s movement.

  • Finances: Your finances are one of the most important considerations before buying USD Coin. It would be best to consider how much USDC you require and whether it’s viable to avoid over-exposing yourself to the asset.
  • Why you’re buying: If you’re learning how to buy USDC, you likely have a reason for wanting to acquire the asset. However, you should carefully think about why you need USDC to determine how much to buy and whether it’s the right asset for you.
  • Alternative assets: If you know why you’re buying USDC, consider whether another asset or stablecoin could perform the job better. For example, if you need a stablecoin, consider USDT vs. USDC, or if you’re seeking a store of value, it is prudent to weigh whether Bitcoin is a better option.

Buying crypto

What are the most common risks of buying USD Coin (USDC)?

Purchasing USD Coin or any cryptocurrency is safe if you use a legitimate platform with a long track record of providing security and customer satisfaction.

However, you should familiarize yourself with the following risks to avoid issues when buying USDC.

  • Fake platforms: One of the most significant risks when buying USDC or other cryptocurrencies is accidentally using a fake platform. Bad actors create websites mirroring legitimate platforms and promote them via paid ads. Your funds will be drained if you connect to a scam platform, so make sure the URL is correct before inputting any information.
  • High fees: Because USDC utilizes the Ethereum network, you must pay any network fees in ETH. Unfortunately, Ethereum fees can be extremely high, sometimes hitting $30, rendering the asset unusable for small purchases. To avoid paying excessive fees, you should check network congestion and current fee rates beforehand.

Why buy USD Coin (USDC) with swissmoney?

Financial services provider swissmoney is one of the best platforms for people wanting to learn how to buy USDC.

swissmoney crypto wallet

The company grants users total control over their money and provides the tools for people to manage their wealth. You might prefer buying USDC with swissmoney over other platforms because:

  • Convenient: swissmoney is highly convenient as you can buy, sell, trade, send, and spend USDC without ever leaving the platform. Therefore, swissmoney is perfect for people conducting a mixture of crypto-related activities.
  • All-in-one: Unlike other platforms, swissmoney seamlessly bridges the gap between crypto and fiat by providing users with the tools to manage their money, regardless of its format.
  • International: Crypto platforms’ rules can differ between countries, confusing international customers. However, swissmoney natively supports and offers dedicated IBAN accounts for four fiat currencies, meaning international customers can buy USDC without issue.

FAQs

Is it legal to buy USD Coin?

There are no laws directly prohibiting people from buying USDC. However, local regulations are constantly changing, so you should read up on crypto laws in your region before purchasing the asset.

Is USD Coin worth buying?

Whether or not USDC is worth buying will vary from person to person. If you’re seeking a store of value or want to reduce volatility in your portfolio, then the asset is a solid choice.

However, consider a non-pegged cryptocurrency if you’re looking for a speculative investment.

Why should I buy USD Coin (USDC)?

If you want to store wealth on a blockchain without being exposed to the crypto market, then stablecoins like USDC are perfect. Moreover, the asset is excellent if you get paid in crypto, as exchanges, loan platforms, and crypto cards commonly accept it.

Can I buy USD Coin instantly?

You can buy USDC without delay using a platform with an instant buy interface, like Binance or Bybit. Typically, credit/debit cards or Apple/Google Pay support instant USDC purchases.

What is the easiest way to buy USD Coin?

While there are plenty of ways to buy USD Coin, the easiest is using a credit/debit card or Apple/Google Pay. By utilizing one of these payment methods, you can avoid the deposit process and quickly buy USDC.

What is the cheapest way to buy USD Coin?

The cheapest method of buying USDC is trading in person or using a P2P marketplace. These payment methods often incur no additional costs outside network fees, making them very cost-effective.

What is the best way to buy USD Coin?

The best way to buy a USD Coin will depend on your priorities. A crypto exchange will be best if you’re looking for an easy way to purchase an asset.

However, if you value flexibility and don’t want to be subject to limits, using a P2P marketplace could be best.

While a crypto exchange like Bybit, Binance, or Coinbase could be best if you want to use a traditional exchange, swissmoney is an all-in-one platform enabling users to manage fiat and crypto on one platform, making it the most well-rounded option.

How do I buy USD Coin as a beginner?

Beginners wanting to buy and sell USDC should use an exchange as their platform and a credit/debit card or Apple/Google Pay as their payment method. Simply create and verify an account, head to the instant buy section, search for USDC, select a payment method, and complete the purchase.

Where can I buy USDC without fees?

Regardless of your method, you’ll have to cover some costs, whether network fees or withdrawal costs. However, using a P2P marketplace or trading with another person yields the best value as there are no set fees.

Is it possible to purchase USDC without OTP verification?

Typically, OTP verification will be required for larger buys or first-time purchases. However, some smaller orders can go through without OTP being required.

Where can I buy USD Coin anonymously?

If you want to buy USDC Coin anonymously, use a P2P marketplace or trade directly with another user. Regulated crypto exchanges require KYC verification, so you must use a decentralized method.

Is it possible to buy USDC with cash?

While buying USDC with cash is possible, exchanges seldom support this payment method. As such, you should trade in person or use a P2P platform to buy USDC with cash.

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Jay Leonard

Bio:

Jay is a cryptocurrency expert who has utilised his extensive experience in the industry to provide commentary on the latest news and developments in the crypto space for four years. As an active investor and trader, Jay has a finger on the pulse of the crypto space, enabling him to offer unique insight and break down complex topics in a simple manner.

While beginning his career as a writer, Jay studied at Open University, achieving a degree in Business Management (Marketing), which gave him knowledge of the inner workings of business and enabled a further level of depth in the content he produces.

Jay’s work has appeared in many high-profile publications, including CryptoNews, Business2Community, HedgeWithCrypto, EconomyWatch, and Finance Illustrated.

Credentials:
Open University – Business Management (Marketing) – Graduated with Upper Second-Class Houners (2:1)

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Disclaimer

Please be advised that the information presented in this article is intended for general informational purposes only. It should not be construed as professional advice from swissmoney. It is important to note that swissmoney does not act as a financial adviser, and individuals are strongly encouraged to seek independent advice from qualified legal, financial, or accounting professionals before making any decisions related to cryptocurrency investments. Furthermore, investing in cryptocurrency assets carries inherent risks, and individuals should be aware that they may potentially lose all of their invested capital.

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