INSUBCONTINENT EXCLUSIVE:
Cryptocurrency exchange Coinbase wants to foster USDC adoption by letting you earn rewards when you keep USDC on your Coinbase account
One USDC is worth exactly 1 USD, and CENTRE members save USD in regular bank accounts whenever they issue USDC tokens
CENTRE members currently hold more than $1 billion in reserve bank accounts as they have issued over 1 billion USDC.In addition to price
stability, stablecoins work just like any other ERC-20 tokens
You can hold them in a cryptocurrency wallet, you can send and receive them, you can exchange them.When you want to buy some bitcoins on
Coinbase, users usually transfer some money to their accounts and then convert USD into BTC
And yet, transferring money to a Coinbase account can take days, which means you could miss out on some big price changes.Conversely, if
to accept USDC rewards, as eligible Coinbase users will automatically start earning rewards starting now
But your Coinbase account is credited with rewards only once a month.For now, the APY rewards rate is 1.25%, but Coinbase can change that
Hawaii or the state of New York
You have to verify your account (level 2) and you have to hold at least 1 USDC.If you earn over $600 in USDC rewards in a single year,
Coinbase will send you a 1099-MISC form so that you can report your earnings with the IRS.
