Where Can I Convert USDC to USD?

Cryptocurrency

February 17, 2024

Written by Xapo Bank

Xapo Bank makes it possible for you to deposit USDC into your account. The USDC is then converted to USD on a 1:1 basis the moment it is received, giving you immediate access to the dollars in your Xapo Bank account.

Bitcoin as a Hedge Against Economic Uncertainty Slider One

Where can I convert USDC to USD?

At Xapo Bank.

While some other exchanges also offer this service, they usually charge a fee. With Xapo, it’s free of charge. It takes just a few minutes and your dollars are ready to spend either with your Xapo card or via bank transfer.

Can I transfer USDC to my bank account?

At the moment, it is not possible to transfer a stablecoin directly into a regular fiat account. This is because stablecoins run through blockchains, which are not compatible with the more common fiat accounts.

However, Xapo Bank has a unique feature which makes it possible to send USDC into your Xapo account and have it automatically converted into USD. Your dollars are instantly available for you to spend or transfer to any other fiat account.

How do I get my USDC back to USD?

You can get your USDC back to USD through an exchange process, which typically involves a fee. After the exchange, you would need to cash out and then transfer to your bank account. The entire process could take up to 2 working days. ‍ However, Xapo Bank makes this process a lot simpler, faster and cheaper. When you deposit USDC into your Xapo account, it is converted to USD the moment it is received and the USD is immediately available for you to spend. Also, Xapo does not charge any fees for this, which means that for every 1 USDC deposited into your Xapo account, you get 1 USD. No delays. No fees. No hassle.

Disclaimer

This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

Share this article