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In the world of online casino gaming, digital currencies are growing rapidly in popularity with many new cryptocurrencies finding their way into this massive market. One of those newly established currencies is USDCoin which is a digital currency also known as stablecoin. What is also special about USDCoin is that it is fully backed up by US dollars and Ethereum.
USDcoin Online Casinos
Even though not many online casinos accept USDCoin as their banking option, those which accept it feature rather straightforward USDCoin transactions which are processed like every other digital currency-backed transaction. To use the currency, players need to sign up for a personal account proceeded by wiring their funds from their bank accounts into their accounts and finally tokenize US dollars into USDCoin.
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USDCoin or stablecoin is fully backed by the US dollar while being managed by CoinBase and Circle. This digital currency was launched back on the 28th of September of 2018 which makes it one of the youngest digital currencies around. For this reason, not many online gaming venues accept it, at least not yet. Those venues which accept USDCoin offer this currency as a great alternative to other similar US dollar-backed digital currencies such as TrueUSD and Tether.
FAQWho can use USDCoin?USDCoin can be used by any individual or institution which has a bank account backed by US dollars. In other words, it can be used by traders, exchanges, developers, online casino players and others.What are the main features of USDCoin?The main features of USDCoin are being fully backed up by US dollars, powered by Ethereum and blockchain technology and finally being fully transparent offering greater anonymity.