How and why would I use USD Coin (USDC) vs fiat USD?

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets or dollar-denominated assets like U.S. Treasury securities. A tokenized U.S. dollar, the value of one USDC coin is designed to be pegged 1:1 to the value of one U.S. dollar. Anchor offers conversions of USDC to USD at no fee. 

You may find USDC useful for a variety of applications, including:

1. Depositing and/or withdrawing USD-equivalent balances to or from your Anchor account. 

2. Access to USD-equivalent funding at internet speeds, regardless of banking hours and business days.

3. You would prefer to avoid linking a bank account to Anchor.

To add USDC to your Anchor account:

1. Go to your Portfolio

2. Tap the (+) in the top right corner

3. Select USDC.

To convert your existing USD to USDC:

1. Navigate to Explore (leftmost tab) and tap on the magnifying glass in the top right corner

2. Search for and select "USD Coin"

3. Tap "Buy" and enter your desired purchase amount.

This is the same process as trading any other cryptocurrency. While it's labeled as "Buy," this process converts USD to USDC at a 1:1 ratio.