How to Buy USD Coin (USDC) in Iceland

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

Step 1 – Join Coinbase and recieve 10$ for free

In the beginning you'll need to purchase units of the major coins. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below for registration and to get your welcome 10 Dollar.

Step 2 – Transmit Your Bitcoin or Ethereum to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. USD Coin (USDC) is obtainable on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow these easy steps)

Make sure you have chosen the right coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow our manual).

Step 3 – Locate (USDC) USD Coin

As soon as your deposit has been confirmed, you will directly have access to your finances and you can initiate buying and trading. To purchase (USDC) USD Coin on Binance, you will want to hover over the “Exchange” tab and click on “Basic”.

In order to locate USD Coin (USDC), 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 grouping, we've highlighted this too. Click on “USDC/BTC” to progress.

Step 4 – Buying (USDC) USD Coin

Once you've located (USDC) USD Coin, you'll be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we are creating our Limit Order.

The “Price” field will be filled with the most recent valuation (USDC) USD Coin was sold for. This can be changed to your desired rate. The field with the “Amount” tag is the quantity of USDC you want to buy. The “Total” field is the whole price in Bitcoin that you'll pay for the complete volumen of USDC.

When you are glad, make a mouse click on “Buy USDC”. Your plan will be filled when a Seller trades their USDC for the price you gave.

Step 5 – Withdraw USD Coin (USDC)

Unless you're trading, best advise is not to keep your coins on an Crypto Trader for an extended time period. To take off your USD Coin (USDC), go to the tab called “Funds” and 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 quantity of USD Coin (USDC) you would like to withdraw. Take into account the displayed fees/minimums. Also make sure you have entered your correct withdraw address.

When you are happy, click on “Submit”. You may be requested for phone/email verification before a take off.

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

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (depending on usage of the network). Once you've confirmed your take off using Ethplorer.io or Etherscan.io and the (USDC) USD Coin is stored within your wallet, you are done.