How to optimally store USDC (usd coin)

[TeslaMotors]

? Forgive the question, but I don't know if I should keep it as normal as other tokens with etherwallet like metamask or have t download wallet from official site (like atomicwallet) ? Why do I need a wallet to create an additional source of risk ? Or maybe I have lower fees then ?

[1714662218]

1714662218

[1714662218]

1714662218

[shinratensei_]

If you wanna get better security for your fund and it's mandatory for you to move your token to the desktop wallet like MEW, mycrypto or you can also try to use the mobile wallet but this depends on what you think if that was the safest wallet and then take it.
If you are keeping your money in your exchange site's account and you didn't know when the accident will come for sure.

This to ensure your money will be in a safe place. The fees will be applied when you were sending your token from your old wallet to the new wallet and it will not give any impact for you like decreasing the fees or something else.

[elda34b]

Atomic wallet is not an official wallet of USDC or something like that, it's in the same position as MEW or MetaMask that you mentioned. Obviously you have to download/install them from the original source or you'll get phished and your funds will be gone. Fees are not wallet-dependent most of the time, the network is what affects them. If you just want to store and 'forget it' for years, using MEW to generate your seeds are fine, as long as you don't store it carelessly.

[bittick]

It's just a token on ethereum platform the same as any other. So, you can simply store it just like any other Ethereum token as you said. The most optimal way to store it is in a wallet that you think the most secure whether MEW or MyCrypto and it's as simple as that.
an Exchange usually set their own fee for withdrawal so if you use a desktop wallet you might pay less fee but that's not always the case and it depends on the exchange.

[TeslaMotors]

If you wanna get better security for your fund and it's mandatory for you to move your token to the desktop wallet like MEW, mycrypto or you can also try to use the mobile wallet but this depends on what you think if that was the safest wallet and then take it.
If you are keeping your money in your exchange site's account and you didn't know when the accident will come for sure.

This to ensure your money will be in a safe place. The fees will be applied when you were sending your token from your old wallet to the new wallet and it will not give any impact for you like decreasing the fees or something else.

Okay, but paying with USDC tokens in the MEM is terribly expensive. The commission itself is greater than the sum of the transfer. After all, it is sick. or mby i doing wrong somethink ?

[SquirrelJulietGarden]

USDC is a ERC20 token.
https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48

You can use Myetherwallet on web browser, offline, on mobile app to store it. To use wallet and store your money safely, back up your mnemonic phrase or private key, JSON file. You can use them to access your fund and recover your wallet.

Fee on ERC20 is high when ETH rises or when there are massive growth of calls, projects on ETH platform. If you need to sell your USDC you will be charged high transaction fee now. Plan your take profit time and choose to move your USDC when fee is low to trusted exchanges

https://kb.myetherwallet.com/en/security-and-privacy/what-is-a-mnemonic-phrase/
ETH/ERC20 - Check and select good Gas price

[Warkop]

I think the ethereum wallet is also good for storing your coins there, or if you want to use another wallet there is also no problem, but in my personal opinion if you want to be safe with the coins you have, you should store them in an ethereum wallet, because it is proven to be very safe to store, but It all depends on you, and only you decide.

[landoffaucets]

USDC is an erc-20 token issued by Circle company, since it is a blockchain token, you can send it to your personal Ethereum wallet from which you have a private key. Or you can send it to your hardware wallet that supports Ethereum wallet. Do not leave it on exchange.

[semobo]

? Forgive the question, but I don't know if I should keep it as normal as other tokens with etherwallet like metamask or have t download wallet from official site (like atomicwallet) ? Why do I need a wallet to create an additional source of risk ? Or maybe I have lower fees then ?

AFAIK, there is no official wallet for bitcoin, can we call coinbase as their official wallet but which itself is not a non custodial wallet.

These are the wallet which supports USDC

[Kupid002]

If you wanna get better security for your fund and it's mandatory for you to move your token to the desktop wallet like MEW, mycrypto or you can also try to use the mobile wallet but this depends on what you think if that was the safest wallet and then take it.
If you are keeping your money in your exchange site's account and you didn't know when the accident will come for sure.

This to ensure your money will be in a safe place. The fees will be applied when you were sending your token from your old wallet to the new wallet and it will not give any impact for you like decreasing the fees or something else.

Okay, but paying with USDC tokens in the MEM is terribly expensive. The commission itself is greater than the sum of the transfer. After all, it is sick. or mby i doing wrong somethink ?

That's not a wallet problem  the real thing thay happen is   eth platform now is congested that's why many people need to pay high gas fees if they want to transfer tokens to any other address.

If you think that you can afford  the fees then better stay it in your wallet and wait until the transaction fees is back again to normal.

[DarkDays]

I personally store most of my USDC in Nexo, they offer an 8% ROI on it, or slightly more if you also hold $1k worth of their NEXO token.

Binance also recently began offering a yield on USD Coin too, though it's not quite as high as Nexo, it's still a modest 6% at the moment. Unlike Nexo, this fluctuates depending on the volatility of the market.

There's a huge range of DeFi protocols that allow you to turn a roughly stable profit on USDC too, though I can't say I've tried most of them.

You can find a relatively complete list here:

https://interest.coinmarketcap.com/currencies/usd-coin

Celsius network is currently number 1, but DYOR.

[TeslaMotors]

Thank you gentlemen for all the advice but not all of it. Generally the basic question is this. Why should the USDC serve me at all and for WHAT, because I don't think it's worth paying? If I have options to pay in USDC and in order to pay $50 to the company I have to pay an extra $40 FEES , it is sick and completely meaningless. I understand that all these USDC coins and 90% of other next milions coins have the same use and can only "store value" ? This is ridiculous and pathetic little bit

all this "ICO company 4.0 2079 future moon" + Lamborghini

f* joke.

[shinratensei_]

If you wanna get better security for your fund and it's mandatory for you to move your token to the desktop wallet like MEW, mycrypto or you can also try to use the mobile wallet but this depends on what you think if that was the safest wallet and then take it.
If you are keeping your money in your exchange site's account and you didn't know when the accident will come for sure.

This to ensure your money will be in a safe place. The fees will be applied when you were sending your token from your old wallet to the new wallet and it will not give any impact for you like decreasing the fees or something else.

Okay, but paying with USDC tokens in the MEM is terribly expensive. The commission itself is greater than the sum of the transfer. After all, it is sick. or mby i doing wrong somethink ?

If you meant about the tx fees to send your USDC to the MEW is so expensive and that totally depends on the network. When the network is normal and you may need only to pay up to 30 cents to send a transaction to store your USDC into the MEW wallet.

You are not doing something wrong but the ethereum blockchain is so crowded and that makes the fees was increasing a lot as everyone wanna make their transaction to be delivered instantly by paying a lot of fees. You should wait until the tx fees will be reduced but im not sure if this will happen shortly.

[rz20]

USDC is an ERC-20 token so you can use any ethereum wallet to store them like MEW or mycrypto wallet. Hardware wallets are the best because they are really secure but you can use a mobile wallet like Trust wallet to store them because they give us the control of our private key,.

[wanted sliter]

I think you should put them on a centralized trading platform like Binance, Huobi, or OKEx as they allow P2P trading there. If you want to transfer your money to cash or other currencies, it will be easier, go KYC and implement more layered security for safety. The current USD in your wallet is not good for sending them out because the costs are currently very high.

[tsaroz]

? Forgive the question, but I don't know if I should keep it as normal as other tokens with etherwallet like metamask or have t download wallet from official site (like atomicwallet) ? Why do I need a wallet to create an additional source of risk ? Or maybe I have lower fees then ?

I don't think anyone should hold USDC if they are not going to do anything with them. But if you insist on just holding them for any reason, you can get any wallet that supports ethereum tokens. If you just want to hold as a value and get an interest, youhodler, Celsius and NEXO are a good option. If you want to hold them for trading, putting them on a trusted exchange and enabling 2FA would be a safe option.

[JCviggen]

USDC is an ERC-20 token so you can use any ethereum wallet to store them like MEW or mycrypto wallet. Hardware wallets are the best because they are really secure but you can use a mobile wallet like Trust wallet to store them because they give us the control of our private key,.

I've never trusted mobile wallets. I'm glad that MEW made their own mobile application and now you can not use all other wallets. Only some special wallets for coins with their own blockchain

[leea-1334]

I would use the same ERC20 wallet I use to store anything else,,, for me, if I trust the network (and I do trust Ethereum) and I trust the wallet (and I trust MEW), then it all works the same for me. Whatever you do, just not on exchange okay?