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How to deposit and withdraw via USD Coin (USDC)?

Article ID: 103910 Print
Question
How to deposit and withdraw via USD Coin (USDC)?

Answer

USDC is a fully collateralised US dollar stablecoin powered by Ethereum and jointly created by Circle and Coinbase.
USDC is an alternative to other USD-backed cryptocurrencies like Tether (USDT)).

USD Coin (USDC) is a 1:1 representation of one US dollar on the Ethereum blockchain. It’s an ERC-20 token and can be used with every app which supports the standard. 


Fees:

  • No deposit fee at our end. The payment processor charges the fee of 0.5%. The fee on withdrawals is subject to the fee of 0.012 ETH*

* Please note that all withdrawals from fiat trading accounts in USDC will be subject to a 1.5% conversion fee.


Limits:

  • The minimum deposit amount shouldn't be less than fee; no maximum limit.
  • Minimum withdrawal amount depends on the network fee. It will be automatically calculated within your Backoffice profile. 

Processing ETA: automated

Geo restrictions: none

 

Where to buy USD Coin:
USDC is widely accepted throughout the crypto world. You can find it on most exchanges and buy it with almost every crypto or traditional currency. 
 

Deposit via USDC:

  1. Log in to your Backoffice > go to the Deposit section > choose USDC > fill in the form > hit the Submit button.
  2. The system will generate our USDC address > Use the generated details to complete the payment procedure through a dedicated payment app.

IMPORTANT: Incorrectly sent payments are not recoverable!

 

Withdrawal via USDC:
Log in to your Backoffice > go to the Withdrawal section > choose USDC > fill in the form > hit the Send request button

 

The withdrawal request will be processed by our Finance Department within 24 hours and then initiated on the USDC network, which generally takes an additional 30 minutes to two hours for completion.
 

 

NOTE!
*Transfers between crypto-denominated wallets/accounts are not allowed.


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Article Details
Views: 107 Created on: Apr 21, 2021
Date updated: May 21, 2021

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