Converting USDC into USD

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Overview

USD Coin (USDC) is a digital dollar pegged to the value of the US dollar. This means 1 USDC is equivalent to 1 US dollar. As such, you can sell or exchange your USDC for dollars on exchanges that support USDC.

Continue reading for more details about exchanging your USDC for USD. 👇

Converting USDC to USD

Before we get started, it's important to note that any specific services that are mentioned here are provided only as examples of services that support this feature. You may want to research more about each of them or look into other options once you have a better sense for the overall process and how you feel about each service and what they offer.

You can follow these steps to convert USDC to USD:

1 Open an account with an exchange that supports USDC, such as Coinbase, Kraken, or Robinhood. You can read more about obtaining your digital wallet here.

2 Deposit your USDC into your new digital wallet obtained in Step 1. This is the cash out step which is described in detail in All About Cash Out. On Step 4 of the Cash Out flow you should enter the network address of your digital wallet. Make sure to confirm which network you are using in your wallet, as your wallet address may be different on different networks. In a wallet such as Coinbase you can locate your network address by simulating the steps for receiving funds.

3 Once your RECUR cash out has finished processing (which can take up to 30 minutes) and your USDC is available in your digital wallet you can sell your USDC for USD on the exchange. This process may vary depending on the exchange, but generally, you would navigate to the USDC-USD trading pair and place a sell order for the amount of USDC you wish to convert to USD.

4 Withdraw the USD from the exchange to your bank account. This process may also vary depending on the exchange, but generally, you would navigate to the withdrawal section, select USD as your currency, enter your bank account details, and submit the withdrawal request.

5 The USD should arrive in your bank account within a few business days, depending on your bank's processing times.

It's also important to note that there may be fees associated with converting USDC into USD, such as trading fees, withdrawal fees, and network fees. Be sure to check the fees of your chosen exchange before proceeding with the conversion.