USDC

Once you add your bank card to your Rain account, you can use it to buy USDC directly. You can start by adding your card to your payment options on your Rain account. To purchase USDC using your bank card, you can select USDC, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.

note: The purchase option with debit or credit card is not available for our users in Turkey

Rain enables you to buy USDC using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.

Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing USDC. To do that, you can select USDC in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.

This is an easy process that requires only a few clicks. Here are the steps needed to sell USDC successfully:

On your Rain account, select USDC then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.

Rain gives you the opportunity to sell USDC and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.

Once your bank account is added, you can sell USDC and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.

Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.

If you would like to receive USDC in your Rain account, simply click on Receive and select USDC from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.

Make sure that you are using the correct network when receiving USDC to avoid possible loss of funds.

USDC (USD Coin) is a type of cryptocurrency known as a stablecoin. Unlike Bitcoin or Ethereum, whose prices can rise and fall sharply, USDC is designed to always be worth $1. Each token is backed by U.S. dollars or equivalent high-quality assets held in reserve. This makes it a reliable way for traders and everyday users to move money on the blockchain without worrying about extreme price swings.

Who created USDC and when? USDC was launched in 2018 by Circle, a global fintech company, together with Coinbase through the Centre Consortium. The goal was to create a transparent, fully-backed digital dollar that could be used worldwide. Since its launch, USDC has grown to become one of the most widely used stablecoins for trading, payments, and decentralized finance.

How does USDC stay equal to $1? Every USDC token is backed 1:1 by reserves in U.S. dollars or cash-equivalent assets like short-term government bonds. When new USDC is minted, an equivalent amount of dollars is deposited into reserve accounts. When USDC is redeemed for cash, the tokens are destroyed (“burned”) to keep the supply balanced. This ensures that the total supply of USDC in circulation always matches the funds held in reserve, helping the coin maintain its dollar peg.

On which blockchains can I use USDC? USDC was first launched on Ethereum as an ERC-20 token, but it has since expanded across many blockchain networks. Today, you can find native versions of USDC on Solana, Polygon, Avalanche, Stellar, Arbitrum, Optimism, and others. This makes it easy to use USDC in a wide range of apps, exchanges, and DeFi platforms, no matter which blockchain ecosystem you prefer.

What can I use USDC for? USDC has many uses in the crypto economy. Traders use it as a safe “parking spot” when markets are volatile, since it holds its value at $1. It is also popular for sending money across borders quickly and at low cost, compared to traditional bank wires. In decentralized finance (DeFi), USDC is widely used as collateral for loans, in liquidity pools, and for earning yield. Developers also rely on USDC as a stable building block for smart contracts and blockchain-based applications.

How can I buy or store USDC on Rain? You can trade USDC on Rain very easily. To buy USDC, visit the buy page, and select your fiat account or your debit or credit card to complete your purchase within a few moments. We have created this step-by-step guide to walk you through the process. You can also send or receive USDC through your Rain account, or store your USDC using Rain’s secure custodial services. You can always refer to our 24/7 support for any questions or needed assistance.

How is USDC different from other stablecoins? The biggest difference is transparency. USDC’s reserves are regularly attested by independent accounting firms, and Circle publishes regular reports so users know what backs their coins. Unlike some stablecoins that may rely on riskier assets or partial collateral, USDC is fully backed by cash and safe short-term U.S. Treasuries. In addition, it is issued by regulated financial institutions, which makes it one of the more trusted and compliant stablecoins in the industry.

Has USDC ever lost its peg? Yes. In March 2023, USDC briefly dropped below $1 when $3.3 billion of its reserves were stuck in Silicon Valley Bank during the bank’s collapse. The price fell as low as $0.87 but recovered quickly after U.S. regulators stepped in to protect deposits. This event showed that while USDC is generally stable, it still depends on the health of the banking system and the safety of its reserve assets.

Is USDC safe to hold? USDC is considered one of the safer digital assets because of its dollar backing.To protect your USDC funds, it’s best to store USDC in secure wallets, enable strong security settings, and use platforms like Rain that operate under regulatory supervision.

How is USDC used in trading? USDC is one of the most common stablecoins used on crypto exchanges. Traders often move in and out of USDC to protect their funds from price swings, since it remains pegged to the U.S. dollar. It also acts as a base trading pair for many cryptocurrencies, making it easy to buy, sell, and switch between different assets quickly. On Rain, you can use USDC to seamlessly swap with other digital assets or convert back to your local currency.

Why is USDC important globally? USDC plays an important role in making the U.S. dollar more accessible in digital form. For people and businesses outside the U.S., it can provide access to stable value in places where local currencies may be volatile or inflation is high. It is widely used in cross-border payments, international trade, and remittances. In the crypto space, USDC helps power decentralized apps, lending platforms, and exchanges by providing a reliable digital dollar that works 24/7, across multiple blockchains.