USD Coin (USDC) Amount: 1500 USDC
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
USD Coin (USDC) is a stablecoin that is pegged to the US dollar (USD) on a 1:1 basis, meaning each USDC token is backed by an equivalent amount of USD held in reserve. Launched in 2018, USDC was created by the CENTRE Consortium, a collaboration between Circle and Coinbase, two prominent companies in the cryptocurrency industry.
Similar to other stablecoins, the primary purpose of USDC is to provide a digital equivalent of traditional fiat currency that can be used within the cryptocurrency ecosystem while maintaining a stable value. This stability makes USDC suitable for various use cases, such as trading, hedging against market volatility, and facilitating cross-border transactions without the need for intermediaries.
Initially issued as an ERC-20 token on the Ethereum blockchain, USDC has expanded to other blockchains, including Algorand, Stellar, and Solana. Its compatibility with Ethereum's ecosystem allows for easy integration with decentralized finance (DeFi) applications and smart contracts.
USD Coin has gained a reputation for its transparency and regulatory compliance. The USDC reserves are regularly audited by independent accounting firms, providing a higher level of trust and confidence in the stablecoin. This has contributed to its growing adoption and popularity, making USDC one of the leading stablecoins in the market.