How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase USDC on BYDFi. We'll guide you through it
Choose how to purchase USDC on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (USDC). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store USDC in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your USDC to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy USDC on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive USDC
Trade
Answers
What Are the Benefits of USD Coin?
USD Coin (USDC) offers numerous advantages, making it a popular choice for digital payments. By harnessing the benefits of digital currencies while eliminating price volatility concerns, USDC provides a convenient and secure method for conducting transactions. As a result, many businesses have embraced USD Coin as a faster and more efficient payment option.
The increasing interest in decentralized finance (DeFi) markets has contributed to the rise in USDC's value and market cap. Various DeFi and CeFi apps offer attractive yields to users who lend USDC coins, enhancing the liquidity of these platforms. This presents a promising opportunity for crypto investors to generate passive income by investing in USDC.
For traders, using USDC as the base currency when trading cryptocurrencies on both centralized exchanges (CEXs) and decentralized exchanges (DEXs) offers several benefits. The price stability mechanism, combined with high liquidity and trading volume, ensures faster and more efficient execution of buy and sell orders involving USD Coin.
USD Coin also facilitates seamless global transfers of digital payments. Leveraging the distributed technology of blockchain, remittances via USDC can be completed within minutes. Additionally, due to its extensive liquidity and trading volume, USDC can be easily redeemed via exchanges.
Is USDC Safe?
USDC is the second most popular stablecoin in the crypto market based on its market cap and trading volume. As a result, it is considered one of the most reliable dollar stablecoins in the market.
USD Coin is fully backed by an equivalent reserve of US dollars in the form of cash and short-term US Treasury bonds. This ensures that Circle can always maintain the peg of the total supply of USDC to the USD.
Furthermore, Circle has partnered with Grant Thornton to publish monthly attestation reports on the reserve balances that support the total supply of USD Coin. Circle, the issuer of USDC, is a licensed money transmitter in over 46 US states and Puerto Rico.
As a result, USDC is a regulated store of value. In the US, such stored value products are subject to the regulatory oversight of state money transmission laws.
How Can You Earn Interest on USDC?
USDC is a highly reliable digital asset that offers the opportunity for crypto investors to earn high yields through lending, particularly in the DeFi space powered by smart contracts. With the increasing demand for this stablecoin, both CeFi and DeFi platforms provide attractive returns for lending liquidity in USDC.
This presents a convenient way to utilize your USD Coin holdings and generate a passive revenue stream. It is especially beneficial for HODLers who prefer long-term investment in crypto assets rather than frequent trading on exchanges, which may offer higher rewards but also involve higher risks.
To earn attractive interest rates on your USDC, you can participate in the lending program offered by BYDFi. By locking your funds for a fixed period of seven, 14, or 28 days, you can generate interest on your USDC tokens.
What Are the Differences Between USDC and USDT?
USDT and USDC are the two most widely used stablecoins in the cryptocurrency market, including exchanges, wallets, and dApps. Although both serve the purpose of providing users with a digital currency pegged to the US dollar to mitigate the volatility of other digital assets, there are significant distinctions between them:
USDT - The First Stablecoin
Launched in 2014, Tether (USDT) holds the advantage of being the pioneer in the stablecoin market. Consequently, most cryptocurrency pairs are traded against USDT rather than USDC. USDT boasts higher liquidity, trading volume, and market capitalization due to more crypto pairs being available for trading against it.
USDC - Transparency and Regulation
USDC is backed by an equivalent amount of US dollar reserves, making it a more trustworthy stablecoin compared to USDT. Additionally, the issuer of USD Coin, Circle, publishes a monthly report disclosing the US dollar reserves that support USDC and maintain its price stability.
In contrast, Tether has lower transparency levels, making it more susceptible to regulatory scrutiny. USDT has faced multiple investigations as its backer is not as transparent about the dollar reserves backing its peg to the US dollar.
USDC - A Safer Option
Many experts consider USDC to be a safer stablecoin due to the Centre consortium's commitment to compliance and government regulations. Furthermore, the more transparent business practices of USD Coin make it a more reliable option than Tether.
During highly volatile market conditions, USDT experiences greater price fluctuations compared to USDC. As the adoption of USD Coin continues to grow, driving its market capitalization upward, it has been encroaching upon USDT's market share.
