Help CenterHow Peer-to-Peer Stablecoin Transactions Work
1. Stablecoin Selection: Users choose a stablecoin, like USDC, that provides a stable value pegged to a reference asset, such as the US dollar.
2. Wallet Setup: Both parties need compatible wallets that support the chosen stablecoin. Wallets can be software (mobile or desktop) or hardware devices that securely store private keys.
3. Initiating the Transaction: The sender inputs the receiver's wallet address and the amount of stablecoins to be sent, then confirms the details and authorizes the transfer.
4. Transaction Processing: The sender's wallet broadcasts the transaction to the blockchain network, where nodes validate it. Once validated, the transaction is added to a block and confirmed on the blockchain.
5. Funds Receipt: After confirmation, the specified amount of stablecoins is deducted from the sender's wallet and credited to the receiver's wallet, ready for further use.
Peer-to-peer stablecoin transactions provide a fast, secure, and cost-effective way to transfer value directly between individuals, leveraging the benefits of stablecoins and blockchain technology.