How to Buy USD Coin (USDC) in Iceland

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the major coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below for registration and receive your welcome ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

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

Make sure you've chosen the exact coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. If you are using a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).

Step 3 – Locate (USDC) USD Coin

As soon as your deposit has been affirmed, you will directly have access to your assets and you can begin purchasing and trading. To purchase USD Coin (USDC) on Binance, you will want to go to the “Exchange” tab and then click on “Basic”.

To discover USD Coin (USDC), you will need to put the short name of the asset (USDC) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct pairing, we've marked this also. Click on “USDC/BTC” to continue.

Step 4 – Buy (USDC) USD Coin

After you've discovered (USDC) USD Coin, you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are going to create our Limit Order.

The field with the “Price” tag will be filled with the most recent rate USD Coin (USDC) was sold for. You can change this to your preferred rate. The “Amount” field is the amount of USDC you like to purchase. The “Total” field is the total price in BTC that you will settle for the complete quantity of USDC.

If you're satisfied, make a mouse click on “Buy USDC”. Your plan will be filled when a Seller sells their USDC for the price you submitted.

Step 5 – Withdraw USD Coin (USDC)

Unless you are frequently trading, you should never keepyour crypto coins on an Exchange for an extended time frame. To withdraw your (USDC) USD Coin, go to the tab called “Funds” and mouse click on “Withdraw”. USD Coin (USDC) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find USD Coin (USDC) by using the given drop-down box. Drop in the amount of USD Coin (USDC) you would like to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your right withdraw address.

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

Congratulations! You've successfully bought and safed (USDC) USD Coin in Iceland.

That's it!

Withdrawals from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you have proved your take off using Ethplorer.io or Etherscan.io and the (USDC) USD Coin is stored in your wallet, you're all done.
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