Modified on Tue, 30 Apr 2024 at 02:45 PM

What is USD Coin (USDC)?

USDC is a stablecoin that keeps its value around the $1  mark. Although its rate can fluctuate a bit, it maintains a 1:1 representation of the US Dollar on the Ethereum blockchain.

For more information about USDC, you can visit their website.

Who can trade USDC on Paxful?

All users can trade and convert USDC with a verified email address and phone number. However, depending on your country, you may need to verify your address to sell USDC. In some locations, restrictions on using stablecoins may apply.

For a full list of the verification status needed for USDC transactions, please visit
this article.

What are the fees for sending and receiving USD Coin?

Wallet Type
External Wallet
Dynamic Ethereum network fee + Paxful Wallet fee

Paxful Wallet fee breakdown: 

$0 - $9.99 = 1 USDC fee
$10 - $19.99 = 2 USDC fee
$20+ = 5 USDC fee
no fee
Internal Wallet
A fee of 1% of the amount being sent with a minimum of 1 USD 
no fee

Note: USDC is only available to send and receive on the Ethereum network. Make sure that you use an ERC-20 address.

Can my USDC transaction be canceled or reversed?

Unfortunately, transactions on the blockchain cannot be canceled or reversed. For more information, please visit this article.

How can I buy or sell USDC?

Buying and selling USDC works the same as buying and selling Bitcoin on the marketplace.
  • Head over to the buy and sell pages to see the available USDC offers.
  • You can also create your own USDC offers—just make sure you’re ID verified!
  • You can also convert your Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) into USDC on your Paxful Wallet. 

How do I get a USDC wallet address?
Head to your Paxful Wallet and click on Receive under USD Coin to get your USDC ERC-20 address.

Can I deposit USDC via the TRC-20 network?
Paxful only supports USDC ERC-20 tokens, so make sure to deposit only to an ERC-20 Ethereum address.

What’s the difference between USDC and USDT?
USDC and USDT are functionally the same in concept. However, where they differ is in the companies that issue the coins.

USDT is an older and therefore more popular stablecoin but some believe that USDC is a more transparent one since its reserves are regularly reviewed by the US Securities and Exchange Commission (SEC).

If you need any assistance from our Support team, do not hesitate to contact us. Check out this article on How to Contact Support.