USDC.e vs USDC on Avalanche (AVAX) | How Do They Differ?
Mike Harry
Feb 2024
3 min to read
Fact checked
Introduction: USDCe (USD Coin Ethereum) and USDC (USD Coin) are both digital versions of the U.S. dollar, but there are some key differences between them. In this guide we will outline these differences and answer key questions regarding USDC.e and USDC.
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USDC.e vs USDC on Avalanche (AVAX)
First, let's begin by breaking down what USDC is. USDC is a digital dollar (aka Stablecoin) that was launched in 2018 by Circle.
Circle website
USDC is backed 1:1 with the US Dollar and lives natively on many of the leading blockchains like Ethereum, Avalanche and Solana.
The goal of Circle is for USDC to be used for payments and trading across platforms and blockchains.
USDC.e on the other hand is a bridged version of Ethereum USDC that can be transferred from Ethereum to Avalanche via the Avalanche Bridge.
So if you do a USDC transfer from Ethereum to Avalanche, the USDC will appear as USDC.e.
If you convert your USDC.e back to Ethereum from Avalanche it will once again appear as regular USDC.
Convert USDC.e for USDC on Avalanche
Below we have outlined a list of venues on Avalache that let's you convert your USDC.e back to regular USDC.
Right now we would suggest converting your USDC.e with Platypus Finance as they currently offer the best swap rates:
1. Connect your wallet 2. Select “SWAP” 3. Select from “USDC.e” to “USDC” and execute the transaction
Convert USDCe to USDC via Platypus Finance
Can I redeem USDC.e with Circle?
Circle does not support USDC.e so you cannot send it to a Circle deposit address. To off-ramp back to fiat currency with USDC.e, you would need to “unbridge” the USDC.e back to the Ethereum blockchain.
After you have unbridged your USDC.e you will have Ethereum native USDC that you can deposit to your circle account and off-ramp to fian currency.
Is USDC.e Safe?
While USDC.e is safe, wrapped or bridged tokens come with more risk than their native counterparts.
The reason for this is because they add an additional layer of risk on top of the native asset. In the case of USDC.e, this means additional smart contract risk.
Does Coinbase accept USDC.e?
Coinbase does not accept USDC.e. If you wish to send USDC.e to Coinbase, you will need to convert it to regular USDC first.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
