Platform: The cryptocurrency exchange or wallet you use will have its own fee policy. Some platforms charge a flat fee for sending USDC, while others may take a percentage of the amount you send.
Network Fee (Gas Fee): USDC runs on the Ethereum blockchain. Therefore, you have to pay a fee to the network for the transaction to be confirmed. This fee can increase as the network congestion increases.
Processing Speed: Some platforms may offer a higher fee option to get your transaction confirmed faster.
What Blockchain Network Does USDC Run On?
USDC is actually a multi-blockchain cryptocurrency. Although it was initially created on the Ethereum blockchain with the ERC-20 token standard, it is now native to different blockchains such as phone number list Solana, Avalanche, TRON, Algorand, Stellar, Flow, and Hedera.
This allows USDC to be more widely integrated with different platforms and applications, expanding its usability. However, be careful about which blockchain you use when sending USDC, as each network has its own fees and speeds. For example, gas fees may be higher when sending USDC on the Ethereum network than on other networks like Solana or TRON.
Who Owns USDC?
USDC is not owned by a single person or organization. It is managed by a consortium called the Centre, whose founders include major cryptocurrency companies like Circle and Coinbase.
Circle is the primary issuer and operating company for USDC. Regular audits and reserve management are handled by Circle, while Coinbase plays a key role in expanding the use and popularity of USDC.
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