How to Buy Carbon USD Crypto (USC)
What is Carbon USD (USC)?
According to Coingecko, Carbon USD is : 1. What is USC? The USC stablecoin is soft-pegged to USD, following the battle-tested MakerDAO's Collateral Debt Position (CDP) model that mints the DAI stablecoin. USC tokens are generated when a lender deposits a set amount of collateral, into a collateralized debt position (CDP), and is available for minting on the Carbon protocol, via its native Nitron Money Market platform. 2. How does USC work? USC is a decentralized stablecoin, where new tokens are issued through the use of autonomous smart contracts on the Carbon blockchain. USC is backed by other digital assets that are put up for collateral to mint the USC tokens, on demand. Carbon users will lock in collateral on the Nitron platform to mint the USC stablecoin, which can be subsequently redeemed by burning the stablecoin. The value of the collateral locked in the CDP needs to maintain a certain percentage of the stablecoin minted, usually around a 150% collateralized ratio (i.e. over-collateralized). This over-collateralization is important to prevent the CDP from being under-backed during periods of volatility, which may cause the stablecoin to be depegged. If the collateralization ratio of the loan falls below the minimum ratio, the CDP becomes under-collateralized. Anyone (i.e. liquidators) may then call a function on the contract to liquidate the loan and receive a percentage of the collateral as a reward (i.e. liquidation bonus), in exchange for backing the value of the stablecoin minted. This ensures that all stablecoins are sufficiently backed and will maintain their peg. Consequently, by repaying the loan and its accrued interest, the returned USC is automatically burnt (i.e. destroyed) and the collateral will be made available for withdrawal.
Where can I buy USC Crypto?
The best website to buy Carbon USD is Simpleswap.
With Simpleswap you can buy almost every reputable token without needing to register or providing proof of identity. The process is incredibly simple and quick.
How to Buy Carbon USD on Simpleswap
To buy Carbon USD on Simpleswap, first you need to click here to access the Simpleswap App. Now, click the "Buy Crypto" tab, select your fiat currency, and then select USC, just like in this example:
Once you selected the currency you want to pay in, and USC, you need to paste your respective wallet address where you want to receive your USC.
With Simpleswap, you'll receive your Carbon USD directly on your on-chain wallet without need to deposit and withdraw like in every other exchange.
You can now choose between Google Pay or card to complete the payment:
Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in your wallet.
Check out Carbon USD links:
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