How to Buy USD Coin (USDC) in Cayman Islands

A Step-by-Step-Guide on how to buy USD Coin (USDC) in Cayman Islands

Step 1 – Join CEX.io

In the beginning you'll need to purchase one of the bigger currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your first Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Transmit Your Ethereum or Bitcoin to an Cryptocurrency Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. USD Coin (USDC) is obtainable on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this how-to)

Make sure you have chosen the correct coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our how-to).

Step 3 – Find (USDC) USD Coin

Once your deposit has been confirmed, you will immediately have access to your assets and you can initiate purchasing and trading. To buy USD Coin (USDC) on Binance, you will want to go to the “Exchange” tab and then mouse click on “Basic”.

To find (USDC) USD Coin, you will need to put the cointype (USDC) into the search box, which is marked in the graphic. Be certain of having selected the proper pairing, we have highlighted this also. Click on “USDC/BTC” to proceed.

Step 4 – Buying (USDC) USD Coin

Once you have located (USDC) USD Coin, you'll be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). Next we are making our Limit Order.

The field with the “Price” tag will be filled with the most up-to-date tariff USD Coin (USDC) was traded for. You can change this to your preferred price. The “Amount” field is the quantity of USDC you want to buy. The “Total” field is the aggregated price in Bitcoin that you'll pay for the complete quantity of USDC.

If you are satisfied, make a mouse click on “Buy USDC”. Your order will be filled as soon as a Vender trades their USDC for the price you offered.

Step 5 – Withdraw USD Coin (USDC)

Unless you are trading, never keep your crypto on an Cryptocurrency Exchange for an longer period of time. To withdraw your (USDC) USD Coin, go to the tab called “Funds” and click on “Withdraw”. USD Coin (USDC) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (USDC) USD Coin by using the given drop-down box. Enter the amount of USD Coin (USDC) you'd wish to withdraw. Don't forget the shown fees/minimums. Also make sure you have filled your right withdraw address.

When you're glad, click on “Submit”. You may be asked for phone/email verification before a take off.

Congrats! You've successfully bought and stored USD Coin (USDC) in Cayman Islands.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on network usage). Once you've proved your withdrawal with Ethplorer.io or Etherscan.io and the (USDC) USD Coin is stored within your wallet, you're done.