Crypto users sometimes swap volatile coins or tokens (e.g. Bitcoin, Ethereum, etc.) for stablecoins like USD Coin (USDC) to protect returns or prevent losses during a downturn or bear season. On the other hand, USDC holders sometimes trade their stablecoins for volatile cryptocurrencies for potential earning opportunities or when they want to buy something or use a service that only accepts a specific volatile coin or token.
Still, we’ve created a guide to help you convert USDC to another cryptocurrency or vice-versa quickly and easily, whether it’s a trade, yield multiplication, peer-to-peer (P2P) transaction, or another reason.
What is a USD coin?
USDC is the second most popular digital stablecoin next to Tether (USDT) and the fourth largest cryptocurrency by market cap. It is a US dollar-pegged ERC-20 coin that was launched in September 2018 by financial technology company (fintech) Circle and a consortium co-founded by Coinbase called Centre.
Can USDC be exchanged?
Yes. Many digital platforms like Ka.app, the crypto payments app that lets you easily send Bitcoin (BTC), have features that make crypto exchanges easier, including USDC swaps.
Why are users exchanging USDC for another cryptocurrency?
Users exchange USDC for another cryptocurrency for various reasons. For example, a user may convert USDC to volatile cryptocurrencies such as Ethereum (ETH) for earning opportunities (e.g. trading or staking cryptocurrencies), use the Ethereum network, or purchase or avail services from a trader take, which only accepts cryptocurrency payments in Ethereum.
On the other hand, a user can trade USDC for another stablecoin USDT if they want to buy a coin or token that uses USDT as a trading pair, withdraw crypto through a platform that only accepts USDT, or buy something that only accepts USDT for crypto accepts payments.
What is the cheapest way to exchange USDC?
Exchange rates may vary depending on the platform used. In Ka.app, exchange costs may depend on whether you have blocked tokens in the app or not. The more KASTA tokens you lock in the app, the lower conversion rates and higher Annual Percentage Returns (APYs) you can enjoy.
How to convert USDC to other cryptocurrencies
You can exchange USDC for another cryptocurrency using two different features in Ka.app: the Swap Feature and the Easy Swap Engine. The step-by-step instructions on how to exchange USDC are as follows:
1. The swap function
Ka.app’s swap feature is an easy-to-use button that allows you to directly exchange one cryptocurrency for another in just a few steps. Let’s say you want to convert USDC to Bitcoin. Here’s how you can do this with the swap function:
- Sign in to the app.
- Go to the home page, scroll down to view the assets list and click on USD Coin.
- Once you are on the USDC page, click on the “Swap” button.
- Select the cryptocurrency you want to convert USDC to, in this case BTC
- Enter how much USDC you want to exchange. You can also choose the percentage (10%, 25%, 50% or 100%).
- Enter your PIN code to confirm the transaction.
- Go to the BTC page to double check if the transaction was successful.
2. The Easy Swap Engine
The Easy Swap Engine is designed to allow users to automatically receive payments in their preferred currency. This means a friend can send you USDC and you can receive them in BTC or any other cryptocurrency if you enable the Easy Swap feature. That is how it goes:
- Sign in to the app.
- Look for the “Settings” icon at the top right of the home screen and click on it.
- When the drawer opens, click “Easy Swap”.
- Activate the “Enable Easy Swap” button.
- From the first drop-down menu, select USDC.
- In the second drop-down menu, choose BTC (or any other token you want to convert USDC to).
- Wait for the other user to send you a payment.
Note: You can always disable the Easy Swap Engine and also customize the cryptocurrency you want to swap and receive.
Download Ka.app
Ka.app can be considered as the best crypto app for beginners due to its user-friendly interface and allows you to quickly complete transactions with just a QR code or mobile number. The app is available in the Apple Store and Google Play Store. You can also sign up through the app’s crypto referral program by using an existing user’s referral link.
FAQ
What other cryptocurrencies can you trade in Ka.app?
Besides USDC, Ka.app also accepts BTC, ETH, USDT, MATIC, BNB, BUSD and KASTA tokens.
How long does it take to complete an exchange with Ka.app?
Fast. Ka.app facilitates all types of transactions quickly.
How much USDC can I exchange for another token?
Any amount. Ka.app has no trading restrictions, which means you can trade crypto as often and in any amount you want.
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