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US Dollar (USD) to CTC (CTC) Instantly
Purchase CTC (CTC) with US Dollar (USD) easily at Switchere and benefit from fast, secure transactions.
About
CTC (CTC)
Creditcoin (CTC) is a foundational blockchain technology designed to address a critical gap in the global financial system: the lack of a universal, transparent credit history. Its primary objective is to create a decentralized network for a borderless credit market, specifically targeting the unbanked and underbanked populations. By recording loan performance on a public digital ledger, Creditcoin provides a mechanism for individuals and businesses to build a verifiable, on-chain credit history. This digital asset aims to bridge the divide between traditional finance and DeFi applications, fostering greater financial inclusion by making credit more accessible and transparent across the globe through its innovative Web3 infrastructure.
The core of the Creditcoin protocol involves linking real-world, off-chain loan agreements to its immutable blockchain. This process creates objective proof of creditworthiness that is not controlled by any single entity. The native utility token, CTC, is integral to the ecosystem's operation. It is used to pay for transaction fees required to record credit transactions, such as loan requests and repayments, on the chain. Furthermore, CTC can be utilized for staking to enhance the cryptographic security of the network. This unique approach to integrating real-world assets (RWA) in the form of private credit establishes a foundational layer for on-chain reputation and new financial products.
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Frequently asked questions
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What is the fundamental purpose of trading the USD/CTC pair?
Trading the USD/CTC pair serves as a direct fiat on-ramp to acquire Creditcoin (CTC), a digital asset for a public ledger focused on real-world asset (RWA) lending. This allows users to convert US Dollars into CTC to participate in Creditcoin's transparent credit network, which is built on the Substrate framework to record credit history on the blockchain. -
What are common methods for purchasing CTC with US Dollars on a cryptocurrency exchange?
To purchase CTC with USD, you typically need to use a centralized cryptocurrency exchange that supports this fiat gateway. The process involves completing KYC/AML compliance, linking a payment method like an ACH transfer, wire transfer, or debit card, and then placing an order on the USD/CTC order book. High trading volume on the pair ensures better liquidity for the transaction. -
Why is having a direct USD/CTC pair important for the Creditcoin ecosystem?
A direct USD/CTC pair is crucial as it provides a primary liquidity channel and simplifies access for fintech partners and users in one of the world's largest capital markets. It removes the need for multiple trades (e.g., USD to BTC to CTC), reducing transaction fees and slippage. This direct access facilitates easier integration for platforms looking to utilize Creditcoin's RWA lending protocol and public ledger for credit scoring. -
What technical considerations should be kept in mind when transferring CTC after a USD purchase?
After purchasing CTC, ensure your receiving digital wallet supports the native Creditcoin blockchain, which is built using the Substrate framework. Do not send CTC to an Ethereum (ERC-20) or other incompatible address. Always double-check the wallet address for accuracy before initiating the blockchain transaction (extrinsic) from the exchange to your non-custodial wallet to maintain control of your private keys. -
Are there typical fees associated with USD to CTC fiat on-ramp services?
Yes, exchanges typically charge fees for USD to CTC conversions. These can include a deposit fee for the USD (especially for wire transfers), a trading fee (maker/taker fee) which is a percentage of the trade value, and a withdrawal fee for moving your CTC off the exchange. Fees for debit card purchases are often higher than for ACH or wire transfers. Always review the fee schedule of the exchange before conducting a digital asset purchase.
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