How To Buy USDC Instantly in Australia - CEX.IO

USD Coin (USDC) is a stablecoin, a cryptocurrency designed to fluctuate less than other assets, like Bitcoin (BTC) or Ethereum (ETH). This potentially makes USDC a more predictable asset for those looking to avoid the volatility of traditional cryptocurrencies. 

Australian enthusiasts can buy USDC instantly through Instant Buy or Spot Trading on CEX.IO. However, eligible participants may also use their USDC to participate in the CEX.IO Savings program and potentially earn crypto rewards on their holdings. 

In this article, we explore how to buy USDC in Australia through CEX.IO. 

What is USDC? 

As mentioned above, USDC is a stablecoin pegged to the value of the U.S. dollar. Although it’s not an innovative solution, given that many other stablecoins already exist, like Tether (USDT), which we also cover in other articles you can explore here, USDC has gained significant adoption in the crypto market, making it one of the most popular stablecoins. 

USDC operates on the Ethereum blockchain as an ERC-20 token. This means it can be traded, transferred, and used in various decentralized applications (dApps) on the Ethereum network. As such, this cryptocurrency is used for multiple purposes, including the previously mentioned trading and payments, but also as a store of value. 

Step-by-Step Guide: How to Buy USDC in Australia

Enthusiasts from Down Under can seamlessly acquire USDC through Spot Trading or Instant Buy. 

Spot Trading caters to savvy crypto aficionados, allowing them to trade this asset against other fiat and cryptocurrencies. On the other hand, those looking to avoid the trading complexities can utilize Instant Buy and acquire USDC at the current market price by following a few simple steps outlined below: 

1. Register and verify your identity to receive a free CEX.IO Crypto wallet. 
2. Log in to your CEX.IO account using established credentials. 
3. Navigate to Instant Buy through the dashboard. 
4. Choose USDC as your desired cryptocurrency. 
5. Select the fiat currency you want to use to fund your USDC purchase. 
6. Specify the amount you want to spend acquiring USDC. 
7. Choose your preferred payment method. 
8. Follow the on-screen instructions to complete the transfer. 

Payment Methods

Eligible customers from Australia can acquire USDC at CEX.IO with their credit and debit cards. These cards can be issued from any major bank in Australia or alternative payment processors like Wise or Revolut. 

In addition, CEX.IO supports payments through: 

• Bank accounts
• Google and Apple Pay
• MoneyGram
• Skrill
• Neteller
• Third-party crypto wallets

Australia-based users should keep in mind some of the payment methods may be unavailable due to varying regulations. For example, CEX.IO also allows eligible users to buy crypto with PayPal. However, this payment method is available to U.S. customers only. We encourage Aussie enthusiasts to conduct thorough research and verify the availability of their desired payment method prior to initiating any payments on CEX.IO. 

What is the best way to buy USDC?

There’s no single answer to this question, as the “best way” differs between individual preferences and financial appetites. However, there are general guidelines users can follow to potentially ensure a smooth crypto experience.

These include researching the project, its roadmap, technical documentation, and (potential) use cases. In addition, curious participants should conduct due diligence when choosing the best exchange for their USDC purchases. 

For example, a common rule among experienced enthusiasts is buying USDC on licensed and regulated exchanges only, like CEX.IO.

FAQs

Where can you buy USDC in Australia?

USDC is available on almost all centralized and decentralized exchanges. It is vital for users to conduct their own research and choose the platform that best suits their needs and financial goals. 

What are the fees for buying USDC?

The cost of acquiring USDC can vary depending on the chosen platform and payment method. Reputable exchanges, like CEX.IO, strive for transparency by clearly outlining their fee structure, including transaction, deposit, and withdrawal fees. By comparing fee structures across different platforms, users from Australia can make an informed decision and find the most cost-effective way to purchase USDC. Also, customers should keep in mind that bank transfers, although slower, typically incur less fees than credit and debit cards. 

Where to store USDC?

CEX.IO offers Australian enthusiasts a free crypto wallet, which allows them to buy, sell, store, trade, and convert USDC, as well as 200+ other vetted assets. However, users from Australia may also seek alternative solutions, like custodial wallets, but should bear in mind these storing methods may incur extra costs.