The Compound protocol is an Ethereum blockchain-based project that creates money markets relative to the supply and demand of a particular digital asset. You can supply or borrow digital assets and earn interest while at it. 

One of the tokens through which you can benefit from this use case is cUSDC, which is issued based on the stablecoin USDC. cUSDC is a digital representation of US dollars deposited within the Compound protocol.

The essence of this page is to provide you with the information you need on how to buy cUSDC in a simple and stress-free manner. 

How to Buy cUSDC – Quickfire Walkthrough to Buy cUSDC in Less Than 10 Minutes 

The Compound protocol is an established cryptocurrency project in the Defi marketplace. This drives traction to its tokens, one of which is cUSDC. If you’re looking to buy this token in less than 10 minutes, this brief walkthrough is all you need. 

  • Step 1: Download Trust Wallet: The importance of a cryptocurrency wallet cannot be overemphasized, particularly if you intend to become a long-term investor. Trust Wallet is renowned for its high-end security, and you can get it on both iOS and Android devices. 
  • Step 2: Search for cUSDC: You need to locate the cUSDC token on Trust Wallet before you can buy the coin. Trust Wallet has a search bar at its top-right corner, where you can input cUSDC. 
  • Step 3: Add Cryptocurrency Assets to Your Wallet: It is impossible to buy cUSDC without first depositing digital tokens into your Trust Wallet. Your available options are to buy cryptocurrency from Trust Wallet via a debit/credit card or send some tokens from another source. 
  • Step 4: Connect to Pancakeswap: This DEX is a leading platform for buying cUSDC. You can access the DEX by establishing a connection between Pancakeswap and Trust Wallet. There is a ‘DApps’ icon on Trust Wallet, where you can choose Pancakeswap from the available DEX’s. 
  • Step 5: Buy cUSDC: To purchase the cUSDC coin, find the ‘Exchange’ icon. Trust Wallet will immediately display a ‘From’ drop-down box, where you can choose the tokens you deposited in your Trust Wallet from the various coins available. Then, look out for the ‘To’ tab where you will find a list of tokens from which you can choose cUSDC. Lastly, input the number of tokens you want, and finalize your exchange. 

Once you finalize the process, you can check your Trust Wallet for the cUSDC coins you just purchased. 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

How to Buy cUSDC – Full Step-By-Step Walkthrough 

The mini-guide above on how to buy cUSDC may give you an idea of what the process entails. For seasoned cryptocurrency traders, that may be enough. However, if you do not know what to expect when trading Defi coins or using a DEX, you might find it challenging to buy cUSDC coins solely based on our quickfire guide. 

As such, we have provided more information about the process below. 

Step 1: Download Trust Wallet 

One of the essential steps you have to take when venturing into cryptocurrency trading is to get a wallet for storing your tokens.

There are numerous cryptocurrency wallets, but Trust remains one of the top choices for several reasons. First, the wallet has a simple user interface, which means that even if you have never traded cryptocurrency before, you will easily find your way around. 

Additionally, Trust is backed by Binance – which is one of the world’s most popular cryptocurrency exchanges. You can also store different coins on your Trust Wallet, making portfolio diversification more convenient. 

Trust Wallet is available on all smartphones, so you can visit your relevant store to download the app. While setting up your wallet, be careful when choosing a password. Also, ensure that you note the 12-word recovery phrase Trust gives you, as your wallet may be compromised if it falls into the wrong hands. 

Step 2: Add Cryptocurrency Assets to Your Wallet 

Adding cryptocurrency assets to your Trust Wallet brings you a step closer to buying cUSDC. To make the deposit, you may choose either of the methods we provide below. 

Transfer Cryptocurrency from an External Storage 

If you have cryptocurrency tokens in another wallet, you can transfer some of them to Trust. Subsequently, you can purchase cUSDC coins with the assets you deposited. The guide below offers you all you need to complete the process within a few minutes.

  • On your Trust Wallet page, look for ‘Receive’ and copy the unique wallet address allocated to the cryptocurrency you intend to transfer from the external source. 
  • Then, open your other wallet and paste the address in the relevant box for that cryptocurrency. 
  • Next, choose the number of coins you want to transfer. 
  • Finally, go over the transaction details and complete the exchange if you’re satisfied with it. 

The tokens you just sent will reflect in your Trust Wallet within a few minutes. 

Buy Cryptocurrency with Your Credit/Debit Card 

As a new cryptocurrency investor, you may not own any tokens elsewhere. However, you can fund your Trust Wallet by purchasing cryptocurrency directly by using a debit/credit card.

You’ll need to fulfill Trust Wallet’s KYC process requirements by providing some details and uploading a government-approved identity card such as a passport or a driver’s license.

  • After completing the KYC stage, you can locate the ‘Buy’ tab on your Trust Wallet page. There are over 1,000 coins supported by Trust Wallet, but you will be best buying an established token like BNB. 
  • So, input the number of BNB coins you want to buy, provide your card details where necessary, and complete your transaction. 

The coins you just bought will remain in your Trust Wallet until you are ready to exchange them for cUSDC. 

Step 3: How to Buy cUSDC Via Pancakeswap 

Now that you have funded your Trust Wallet and connected it to Pancakeswap, you can buy cUSDC tokens seamlessly by following the steps below:

  • Click “DEX” on Pancakeswap and choose ‘Swap’ to begin the process of buying cUSDC. 
  • Following that, you will find a ‘You Pay’ button. You may choose the tokens you want to swap for cUSDC. Note that this has to be the coin you have in your Trust Wallet, which in this case, should be BNB.
  • Next, you will find a ‘You Get’ button. Click on it and you’ll get a list of the tokens you can purchase on Trust Wallet. Ensure you choose cUSDC and the number of coins you want from the exchange. 
  • To confirm the transaction, click on ‘Swap.’

Your cUSDC coins will immediately appear in your Trust Wallet and remain there until you choose to sell them. 

Step 4: How to Sell cUSDC

Although the focus of this page is to show you how to buy cUSDC, the guide won’t be complete without discussing the procedures to sell the token as well. You can do this with Pancakeswap, which is another reason why this DEX is an efficient option for you.

Exchange Your cUSDC Coins for Another Cryptocurrency 

Some cryptocurrency traders choose to exchange their tokens for another coin. You can also do the same if that aligns with your investment goals. If it does, you can complete the process with Pancakeswap.

The process to sell cUSDC tokens is quite similar to how you bought them. However, you will choose cUSDC in the ‘You Pay’ tab. Then under ‘You Get,’ you will select the new tokens you’re looking to receive from the exchange.

Sell Your Tokens for Fiat Money 

Another method will be to sell your cUSDC coins for fiat currency. However, you cannot do this on Trust Wallet. As such, you will have to move your tokens to a trading platform like Binance.

  • Binance will require you to verify your identity before you can complete this process.
  • The verification requirement is a standard market practice as you cannot trade fiat money anonymously on the platform.
  • To complete this process, simply provide the relevant details and upload a copy of a government-issued ID such as your passport.

When you complete the KYC process, then you can sell your tokens for fiat money. 

Where Can You Buy cUSDC Coins Online? 

In the cryptocurrency scene, there are different methods to buy tokens. For instance, you can choose to buy cUSDC coins via a centralized exchange (CEX) or DEX. However, for a seamless transaction, using a DEX like Pancakeswap is your best option. 

Pancakeswap – Buy cUSDC Coins Through a Decentralized Exchange

A significant thing about buying cUSDC through Pancakeswap is that you can do so without third-party interference. Furthermore, as an Automated Market Maker (AMM), the DEX pairs you against the system to buy cUSDC. This is unlike the conventional way of buying tokens where you’re paired against sellers in real-time.

If you’re also a fan of fast transactions, Pancakeswap is a great choice for you when buying and staking your cUSDC tokens. With the fast execution time on offer, you can complete multiple trades within a few seconds. Furthermore, the DEX also has a low-fee structure, making it possible to maximize your profits when buying and selling cUSDC tokens.

With your idle cUSDC tokens, you can also make some earnings, as these coins contribute to the protocol’s liquidity pool. This is in addition to the numerous staking and farming opportunities that you can leverage to maximize your cUSDC investment. Notably, though, you should be careful when utilizing these farming opportunities – as there is also the risk of monetary loss. 

Pancakeswap supports over 1,000 tokens, including both major and minor coins. Additionally, there is a large liquidity pool, meaning you can always sell your cUSDC tokens when you desire. Furthermore, Pancakewap has gone through an audit to ascertain the platform’s credibility. So, if you want a secure DEX to buy cUSDC tokens, this platform stands out.    

Pros:

  • Exchange digital currencies in a decentralized manner
  • No requirement to use a third party when buying and selling cryptocurrency
  • Supports a sizable number of digital tokens
  • Allows you to earn interest on your idle digital assets
  • Sufficient levels of liquidity – even on smaller tokens
  • Prediction and lottery games


Cons:

  • Might appear daunting at first glance for newbies
  • Does not support fiat payments directly

Ways to Buy cUSDC 

As you can imagine, since the Defi industry continues to grow, new ways will emerge to buy tokens. Here, we have highlighted two ways to buy cUSDC in the easiest way possible. 

Buy cUSDC with a Credit/Debit Card 

This may be your go-to option if you are new to Defi token investing. Here, you can buy cryptocurrency directly from Trust Wallet, but first, you must complete its KYC requirements. This basically includes providing some personal details and uploading a copy of a government-issued ID.

Then, you can enter your credit/debit card details into the system and buy the coins you will swap for cUSDC. Note that you also have to connect Trust Wallet to Pancakeswap before you can complete the exchange. 

Transfer Cryptocurrency From an External Source

Alternatively, you can deposit cryptocurrency into your Trust via another wallet. Once you have done that, connect your Trust Wallet to Pancakeswap and buy cUSDC. 

Should I Buy cUSDC?

When learning how to buy cUSDC, one of the major things you’d need answers for is whether or not the token is a good buy. Clearly, this is an important question. However, this is a question you have to answer by yourself after doing adequate research to understand the cUSDC project.

If you do not know what to look for when making this decision, we have provided a few factors you might want to consider.

Issued Based on a Stablecoin

A stablecoin like USDC is an established way for you to secure your savings and capital in cryptocurrency. cUSDC is issued for every USDC deposited into the Compound protocol. When you hold cUSDC tokens, you’re eligible for earning the prevailing market interest rate.

As you earn more cUSDC tokens, you’ll eventually be able to convert them into USDC, the underlying asset. Invariably, the value of USDC impacts that of cUSDC. So, if you’re looking to maximize your USDC investments, this token might interest you.

Additionally, as the number of investors who deposit USDC into the Compound protocol increases, the value cUSDC gains over time also rises.

Notably, however, if your aim for investing in this token is to secure your savings as you would with other stablcoins like USDC or USDT, you might want to consider that the token's all-time high and low are $0.022 and $0.020 respectively. This means that the coin doesn’t mirror the value of the US dollar.

Provide Assets and Earn Profits 

If you hold a large quantity of cUSDC tokens, you can serve as an asset provider for the Compound protocol. Here, you essentially supply digital assets that borrowers can access. Subsequently, you earn interest over the assets you loan out. 

Since you’re the one supplying assets to the pool, you can request to withdraw your coins when you desire. This is made possible because the protocol has sufficient liquidity. Therefore, if you’re looking to earn a profit while holding your token, you may consider reading more about this project.

Borrow With Ease 

Compound exists to make borrowing digital currencies a seamless process. Here, you can supply cTokens as collateral and subsequently borrow your chosen digital token in exchange. However, the amount of digital assets you can borrow is based on the quality of your collateral. 

Furthermore, the tokens you lock up as collateral will earn you interest. But, you cannot withdraw your interest until you have fully repaid your loan. 

cUSDC Price Predictions 

cUSDC is a token issued based on a stablecoin. This is perhaps the reason why the coin’s price has always hovered around $0.02 ever since its launch in 2020. As such, price predictions concerning this token are practically irrelevant. 

Risks of Buying cUSDC 

As noted above, cUSDC has always hovered around $0.02 since its launch in 2020. The token’s price stability can be associated with the fact that it’s issued based on a stablecoin. Therefore, it’s not as volatile as other cryptocurrencies.

However, if you’re looking to buy these tokens, it will be smart to research adequately about the project, as that will offer you more perspectives into how you can maximize your investment. 

Best cUSDC Wallets

Choosing a suitable wallet to store your cUSDC tokens is almost as important as learning how to buy them. When you don’t store your tokens in a secure wallet, they may become easily susceptible to hacking. 

Furthermore, if you are new to cryptocurrency trading, you may not know what to look for in a suitable wallet. As such, we have made the process easier by highlighting the best wallets for storing cUSDC coins. 

Trust Wallet - Overall Best cUSDC Wallet 

Trust is a highly rated wallet that both cryptocurrency newbies and seasoned traders rely on to store their cUSDC tokens. The wallet is relatively easy to use and supports thousands of tokens, which makes it seamless to diversify your portfolio. Lastly, you can easily access Pancakeswap through Trust Wallet. 

MyEtherWallet - Best cUSDC Wallet for Convenience 

cUSDC is a cToken, and a product of the Ethereum blockchain. Hence, you can easily store your cUSDC tokens on MyEtherWallet. This popular is accessible on all smartphones, and you can even connect it to hardware wallets like Trezor or Ledger. 

Ledger Wallet - Best cUSDC Wallet for Security 

Ledger is a hardware wallet that stores your private keys offline. That way, the chances of you losing your cUSDC private keys to hackers are drastically reduced. You can also store more than 1,000 different tokens on Ledger Wallet, making it convenient to diversify your cUSDC investment. 

How to Buy cUSDC - Bottom Line

Having come this far, it is safe to assume you are now familiar with how to buy cUSDC. Once you have installed Trust Wallet and made a deposit into it, you are a step closer to purchasing your cUSDC coins.

Finally, connect your Trust Wallet to Pancakeswap and proceed to buy cUSDC.

Buy CUSDC Now via Pancakeswap

 

 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.

FAQs

How much is cUSDC?

As at the time of writing in late August, cUSDC’s price hovers around $0.02.

Is cUSDC a good buy?

One thing to note about this token is that its price has enjoyed a significant level of stability since its launch in 2020. However, determining whether it’s a good buy is left to you. To do this, you’ll need to consider the project’s use cases and see how they fit into your investment goals.

What is the minimum cUSDC tokens you can buy?

You can choose to invest a significant amount in cUSDC. At the same time, you can also invest as little as a dollar. Essentially, the quantity you buy will be based on your needs.

What is the cUSDC all-time high?

cUSDC has an all-time high of $0.022, which it attained on 22 April 2021.

How do you buy cUSDC tokens using a debit card?

To kickstart this process, you must get Trust Wallet. After that, you’ll need to buy cryptocurrency on Trust Wallet with your Visa or MasterCard. Once you fund your wallet, connect to Pancakewap and exchange the cryptocurrency you purchased for cUSDC.

How many cUSDC tokens are there?

As at the time of writing in late August 2021, cUSDC has a total supply of over 9 billion tokens.