What is USD Coin?
USD Coin is a digital stablecoin pegged to the United States dollar. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.
How does a USD Coin transaction work?
USD Coin (USDC) transactions involve the digital transfer of USDC, a stablecoin pegged to the US Dollar, using blockchain technology. Here's a step-by-step breakdown of a typical USDC transaction:
1. Transaction Initiation: The sender starts the transaction by selecting USDC in their cryptocurrency wallet and entering the amount they wish to send.
2. Entering Recipient's Address: The sender inputs the recipient's cryptocurrency wallet address. This address is specific to USDC or the blockchain network USDC operates on, like Ethereum.
3. Confirming Transaction Details: The sender reviews the transaction details, including the amount of USDC and the recipient's address, before confirming the transaction.
4. Digital Signature: The transaction is digitally signed using the sender's private key, ensuring security and authenticity.
5. Broadcasting to the Blockchain: The signed transaction is broadcast to the blockchain network, where it is verified by network participants (nodes).
6. Verification and Validation: The network's nodes verify the transaction, ensuring the sender has sufficient USDC and the transaction adheres to network rules.
7. Inclusion in a Block: Once verified, the transaction is included in a new block on the blockchain, pending final confirmation.
8. Confirmation and Finality: After the block is added to the blockchain, the transaction is considered final and irreversible. The recipient's wallet reflects the received USDC.
9. Transaction Record: The completed transaction is recorded on the blockchain, providing a transparent and immutable record of the transfer.
Why Buy OSRS Gold with USD Coin?
USD Coin ranks 9th for all accepted payment methods on https://merchants.to/
USD Coin ranks 5th for accepted crypto currency payment methods on https://merchants.to/
USD Coin cannot be double spent, thus allowing for fast delivery for gold after purchase.
USD Coin is easy to get ahold of, you can simply buy it from Coinbase.
Why you may not want to use USD Coin to buy OSRS Gold.
USD coin is not as widely accepted as Tether which is the other top stable coin.
How to Buy OSRS Gold with USD Coin?
Buying OSRS Gold with USD Coin is a very simple process on Merchants.to.
Follow these steps to find a merchant to whom accepts usd coin as payment for OSRS Gold.
1. Navigate to https://merchants.to/currency/buy-osrs-gold
2. Click the "Filter payment methods." dropdown
3. Select "USD Coin"
4. Only merchants that accept usd coin will now be displayed. Simply find the merchant you wish to purchase from and visit their site to finalize the transaction!
