Sign-up to get started
Get onboarded and start trading with as little as $50.
usdc
USD Coin (USDC) is a fiat-backed stablecoin pegged to the US Dollar on a 1:1 basis, designed to bridge the gap between traditional fiat currency and cryptocurrency.
This coin is available on Newton.
Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, USDC is designed to maintain a value of approximately 1 USD per token. This stability is achieved by backing each USDC token with equivalent US Dollar cash reserves or short-term U.S. Treasury bonds held in regulated financial institutions. This means that for every USDC token in circulation, there is an equivalent US$1 held in reserve.
USDC operates through a straightforward but sophisticated mechanism that ensures its stability. Unlike cryptocurrencies that are mined, new USDC tokens are created through a process called tokenization.
When users purchase USDC, they exchange US dollars for an equivalent amount of USDC tokens, which are then deposited into their digital wallets. These US dollars are held in reserve by regulated financial institutions, ensuring that each USDC token is fully backed by real fiat currency.
Conversely, when users redeem USDC for US dollars, the tokens are burned, effectively removing them from circulation and maintaining the peg. This continuous balancing act between minting and burning tokens maintains the stable 1:1 peg with the US dollar. The entire process is overseen by international accounting firms like Deloitte and Grant Thornton, which provide regular attestations to verify the backing of the tokens. USDC has expanded its utility by becoming compatible with multiple blockchain networks, including Ethereum, Algorand, Solana, and several others, making it a versatile tool for digital transactions across different platforms.
Yes, you can legally buy, hold, and sell USD Coin (USDC) in Canada through crypto platforms like Newton. Newton operates under strict regulatory standards, ensuring all transactions adhere to Canadian Securities Administrators (CSA) guidelines.
USD Coin (USDC) trading fees are included in the transaction total and displayed before you confirm each trade. Please visit Newton's Fees page for the latest and most accurate fee information.
Currently, Newton supports Interac e-transfers and wire transfers. Credit and debit cards are not supported.
Yes, you can Sell USD Coin (USDC) and convert it back to Canadian dollars (CAD) quickly and securely. Withdrawals typically process instantly via EFT or e-transfer but may take up to two business days if additional verification is needed.
USDC offers a range of use cases for traders, investors, and everyday users. It can be bought, sold, or swapped on exchanges as a hedge against market volatility or as a stable alternative to other cryptocurrencies for portfolio management. Some platforms also allow users to stake USDC, earning passive income through interest or other incentive programs. Additionally, investors can use USDC as a store of value, converting fiat currency to maintain stability during market fluctuations or gain exposure to the U.S. dollar, particularly for non-U.S. investors.
Beyond trading and investment, USDC plays a crucial role in decentralized finance (DeFi), where users can lend, borrow, or earn interest on various platforms that support stablecoins. It is also widely used for peer-to-peer payments, allowing users to make online purchases, send funds between wallets, or transact with merchants that accept USDC. Additionally, USDC is valuable in global crowdfunding, providing a stable way to raise funds while preserving the value of contributions.
USDC was launched in September 2018 by the Centre Consortium, a collaboration between Circle, a financial technology company, and Coinbase, one of the largest cryptocurrency exchanges. The project began with substantial backing of $110 million from prominent investors, including Goldman Sachs and Breyer Capital, demonstrating early institutional confidence in the concept.
While the stablecoin was initially managed by the Centre consortium, Circle has since become the primary entity responsible for USDC's operations. The stablecoin has grown to become one of the most trusted digital dollar solutions, particularly after establishing relationships with major financial institutions. A notable milestone in USDC's evolution came when payments giant Visa announced its preference for USDC over other stablecoins, and the stablecoin secured a partnership with BlackRock, the world's largest asset manager, to facilitate tokenized fund transfers. USDC has also gained traction due to its strong regulatory backing and regular attestations by accounting firms like Deloitte.
Please refer to Newton's Fees page for the most current information on USD Coin (USDC) withdrawal speeds, options, and fees.
USD Coin (USDC) is natively supported on multiple blockchains, including:
Among others.
While the price may fluctuate slightly , USDC reliably stays close to $1 due to this dollar-backed reserve system.
Convert fiat currency into USDC to preserve value during market fluctuations or gain exposure to the U.S. dollar for non-U.S. investors.
Earn rewards by staking USDC on platforms that support it, providing passive income through interest or other incentive programs.
Use USDC for online purchases, send digital payments directly between wallets, and transact with merchants that accept USDC.
Buy, sell, or swap USDC on exchanges to hedge against market volatility or use it as a stable alternative to other cryptocurrencies for portfolio management.
Participate in or initiate global fundraising campaigns by raising funds in USDC, ensuring the value of contributions remains stable.
Lend, borrow, or earn interest on USDC through decentralized finance platforms, benefiting from its price stability and integration across multiple blockchains.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
These involve person-to-person trades where you buy USD Coin (USDC) directly from another individual, often through peer-to-peer platforms or local community networks. While possible, this method often carries security and trust challenges.
These include centralized exchanges, decentralized exchanges, and other intermediaries or platforms designed for buying USD Coin (USDC). Many individuals prefer to purchase USD Coin (USDC) through a regulated cryptocurrency platform like Newton, which offers an easy experience with secure transactions and compliance with Canadian regulations.
Trading fees are included in the transaction total and displayed before you finalize your trade, so you always know what you’ll pay. Please visit Newton's Fees page for the most current information on USD Coin (USDC) fees.
Newton offers strong security features to protect your assets. Users can manage devices, monitor login history, and set up anti-phishing codes. With multi-factor authentication, a security checklist, and the ability to add trusted contacts, Newton takes multiple steps to ensure your USD Coin (USDC) and personal data are secure.
Newton makes it affordable to buy and sell USDC, with a 1.00% - 1.15% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Newton’s intuitive app and web platform let you trade USD Coin (USDC) effortlessly on any device. Available on web, iOS, and Android devices.
Registered with the OSC and compliant with Canadian Securities Administrators(CSA) regulations.
Newton is a Canadian platform, created specifically for Canadian users. It offers a safe and easy way to buy and sell USD Coin (USDC) and other digital assets, ensuring that users have a trusted, locally tailored platform for cryptocurrency trading.
Visit Newton's signup page or download the app (available on iOS and Android) to create your account. Complete the quick and secure verification process using your government-issued ID to unlock full access to the platform.
Deposit funds into your Newton account using one of the following methods:
Interac e-Transfer: A fast and convenient way to fund your account, with deposits typically processed instantly or within 2 hours.
Wire transfer: Suitable for larger transactions. Wire transfers may take up to 3 business days to process.
Once your funds are deposited, you can start trading USD Coin (USDC) and other cryptocurrencies.
Navigate to the trading section to begin.
Choose USD Coin (USDC) from available cryptocurrencies.
Enter the amount of USD Coin (USDC) coins you want to purchase in Canadian dollars (CAD) or USD Coin (USDC). You'll see all fees and the exchange rate before confirming your trade.
Confirm your trade details to complete the transaction. The USD Coin (USDC) tokens will appear in your Newton account shortly after.
You can also transfer your USD Coin (USDC) tokens to external storage solutions. These include hardware wallets, which are physical devices that store your USD Coin (USDC) offline, and software wallets, which are digital applications(desktop, mobile, or web-based applications) for storing and managing your USD Coin (USDC). Choose a wallet that supports the blockchain network of your USD Coin (USDC), e.g., Ethereum-Based USDC or Solana-Based USDC
Newton provides secure, institutional-grade custody for your USD Coin (USDC). Most assets are stored offline in cold storage to protect against potential risks and are insured for added protection. You can easily access your USD Coin (USDC) coins for trading or selling whenever you choose.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with USDC, please see our Asset Statement.
