USDC on Coinbase Wallet

What is USDC?

USD Coin (USDC) is a stablecoin redeemable on a 1:1 basis for US dollars, backed by dollar denominated assets held in segregated accounts with US regulated financial institutions.

Why use USDC?

Fiat-backed stablecoins (cryptocurrencies pegged to reserve assets like the U.S. dollar) provide customers stability and confidence during times of volatility. USDC is one of the most trusted and reputable digital dollars, fully backed with high-quality reserves:

  • Hiqh quality reserves: Trade confidently. USDC is 100% backed by cash and short-dated U.S. Treasuries held in regulated U.S. financial institutions, so that USDC is always redeemable 1:1 for US Dollars.

  • Trusted transparency: Reduce risk. Grant Thorton LLP, a leading 3rd party accounting firm, conducts transparent, monthly attestations on the US dollar denominated reserves that back the USDC in circulation.

  • Stable store of value: Find stability in crypto. Know that the value of your USDC is preserved over time whether you want to pay, send, or trade. USDC is designed to be pegged to the US dollar and is always redeemable 1:1 for USD.

How to convert to USDC with Coinbase

How to buy USDC on Coinbase Wallet

You can easily purchase USDC with fiat on Coinbase Wallet, through our integration with Coinbase.com.

Coinbase waives commission fees when customers buy or sell USDC via any fiat currency on Coinbase, from AUD to ZAR. Read our full blog post on the topic here

  1. Open the self-custody wallet or dapp, and select the Buy option.

  2. Select Coinbase Pay when prompted to choose a payment method.

  3. Sign into your Coinbase.com account and complete 2-step verification when prompted. (If you don’t have a Coinbase.com account, you can create an account.)

  4. Select Allow to give the self-custody wallet to access your Coinbase.com account.

  5. Choose your crypto and enter the amount you’d like to buy. 

  6. Choose your preferred payment method from your Coinbase.com account to make the buy. 

  7. Select Preview Buy to review your transaction details

  8. Choose the chain you’d like to receive your USDC on: Ethereum, Polygon, Solana, or the Avalanche C-chain.

  9. Select Confirm to complete.

Swapping USDC

Coinbase Wallet supports crypto-to-crypto swaps for assets hosted on Ethereum, BNB chain, Avalanche C-Chain, Polygon, Solana, and Optimism. You can swap to and from USDC on any of these chains when you need one side of your swap to have a stable hold of value. 

We believe that USDC is a trusted and reputable stablecoin, so we’re making it more frictionless to switch: we’re waiving fees for Coinbase Wallet customers to convert USDT to USDC. Read our full blog post on this topic here.

To swap tokens from the Coinbase Wallet app, follow these steps:

  1. On the Wallet mobile or extension homepage, select Swap.

  2. Choose the token you want to convert, the token you’d like to receive, and the amount you want to convert.

  3. Select Confirm.

Bridging USDC

Easily transfer your USDC across Ethereum and Polygon with the built-in bridging feature on Coinbase Wallet. Bridging makes it possible to access and use dapps that are not accessible on the Ethereum mainnet. Coinbase does not charge commission fees when using our bridging feature. 

How to Bridge USDC 

  • Select the Bridge Icon from your Coinbase Wallet. 

  • At the top of the screen Click the Bridge to select the networks you’d like to bridge between.

  • Select your From and To Networks and Click Done.

  • When you have returned to the Bridge screen, select the assets you would like to bridge from your available assets.

  • Enter the Amount of the Asset you would like to bridge and Click Preview.

  • Review the transaction and associated fees and time to complete the transaction and click Confirm to proceed.

You will be taken to a screen that confirms the conversion has been initiated. You may click Done or View Transactions to review the in-progress transaction.

Can't find what you're looking for?