We're excited to announce that Coins.ph now supports native USDC on Polygon, starting November 15, 2023.
What is Native USDC?
Native USDC is issued by Circle, the company behind the USDC stablecoin. It's redeemable 1:1 for US dollars, making it a trusted and stable currency for transactions.
What’s New?
Coins.ph encourages users to transition from the bridged version, USDCE, to native USDC moving forward. Trading and conversions will only be supported for native USDC deposits starting November 154, 2023.
What Happens to Existing USDCE Deposits?
Any existing USDCE tokens in your Coins.ph wallet will remain available for withdrawal only. However, they will appear as a separate token on your crypto balances and cannot be traded or converted.
Native USDC tokens deposited to your Coins wallet will be added to your overall tradeable/convertible USDC balance while any deposit of the bridged USDCE token will appear as a separate token on your crypto balances. USDCE tokens will remain available for withdrawal.
How to identify USDC?
To quickly identify the difference between native USDC and bridged USDCE, you can refer to the ff info:
Native USDC issued by Circle (via Polygon network)
Token Symbol: USDC
Token Address: 0x3c499c542cef5e3811e1192ce70d8cc03d5c3359
Bridged USDCE (In Polygon network)
Token Symbol: USDCE
Token Address: 0x2791bca1f2de4661ed88a30c99a7a9449aa84174
How to Send and Receive Native USDC?
Q: How do I send native USDC with my Coins.ph account?
A: To send native USDC using your Coins.ph account, follow these steps:
- Open your Coins.ph app and select “Transfer”
- Select “Send Crypto”
- Choose USDC. If you don’t have USDC yet, click here to buy now!
- Select whether you want to send to another Coins Account or External Wallet.
- Enter your transfer information to complete your transaction.
- Select the amount of USDC you want to send.
- Confirm transaction.
Q: How do I receive native USDC in my Coins.ph account?
A: To receive native USDC on your Coins.ph, follow these steps:
- Open your Coins.ph app and select “Transfer”
- Select “Deposit Crypto”
- Choose “Deposit into Coins wallet”
- Select “USDC” and your preferred network
- Copy and share your wallet address or QR code to receive USDC!
FAQs
Can I trade or convert USDCE?
No. You may withdraw your USDCE but trade and conversion will only support native USDC.
What will be reflected on my current USDC balance?
Only native USDC will be available to your overall tradeable / convertible USDC balance. Your USDCE will only appear as another token on your crypto token balance.
