Q: What are Stablecoins?
A: Stablecoins are crypto assets created to maintain a consistent value by being pegged to an underlying asset, most commonly the U.S. dollar. They offer a way to hold dollar-denominated value while operating in digital asset environments.
Q: What is USDC?
A: USD Coin (USDC) is a digital asset, otherwise known as a stablecoin, designed to maintain a stable value equal to one U.S. dollar. It’s widely used across crypto blockchains (i.e; Ethereum and Solana) as a “digital dollar” for transferring, storing, and moving value across blockchains.
Q: Is USDC the same as holding U.S. dollars?
A: No. While USDC is designed to maintain a value equal to one U.S. dollar and is backed 1:1 with U.S. Dollars, it is a digital asset, not cash held in a traditional bank account. USDC does not carry FDIC insurance and is subject to risks specific to digital assets and blockchain networks.
Q: Is USDC available in both IRA and non-IRA accounts?
A: Yes. USDC is available for both Crypto IRAs (including Traditional, Roth, or SEP IRAs) and PCAs (Premium Custody Accounts - non retirement accounts). Earned rewards are the same for both retirement and non retirement accounts.
Q: Can I earn rewards with USDC on iTrustCapital?
A: Yes, iTrustCapital offers USDC-related rewards. You can check out the full details and risk disclosures here.
Q: Are my USDC rewards automatically earning more rewards?
A: Yes. USDC rewards are compounded automatically, meaning any rewards you earn are added to your USDC balance and can begin earning additional rewards over time.
Q: When are my USDC rewards paid out?
A: USDC rewards accrue daily and are dispersed to users on a monthly basis.
Q: Can I convert USD to USDC on iTrustCapital's platform?
A: Yes. You can convert U.S. dollars (USD) to USDC directly on iTrustCapital’s platform through our liquidity partnership with Coinbase Institutional. You can also convert back to USD in order to purchase other crypto assets on the platform.
Q: Are there any fees to convert USD to USDC on iTrustCapital's platform? Are there fees to convert USDC back to USD?
A: No. There are no conversion fees between USD and USDC. One U.S. Dollar, will get you one USDC.
Q: Can I buy cryptocurrency with USDC on iTrustCapital? Can I sell cryptocurrency for USDC?
A: USDC cannot be used to directly purchase supported digital assets (i.e; BTC, ETH, SOL, XRP, ETC) on iTrustCapital. Clients who wish to purchase other crypto assets on the platform must first convert their USDC to USD and then self-direct (Buy/Sell) into the other 85+ available assets, accordingly.
Q: Are the current USDC rewards rate guaranteed or likely to change?
A: Rewards rates and availability are not guaranteed and are subject to change based on iTrustCapital eligibility requirements, regulatory guidance, and market conditions.