How to Swap Between USDC vs USDC.e

How to Swap Between USDC vs USDC.e

Cryptocurrencies
by Sebastián Villafuerte
90
Wondering how to swap between USDC vs USDC.e?
Two USDC coins pointing at eachother

It’s quite simple, just follow these simple steps:

  1. Select an Avalanche USDC dApp 
  2. Connect your wallet to the dApp 
  3. Navigate to the trade page and select the USDC vs USDC.e pair to swap your coins

If you have ever heard about stablecoins you probably also heard about USDC or USD Coin.

This stablecoin was created and developed by a financial-technology company called Circle. They provide a set of solutions in the financial and crypto markets for developers, corporations, and individuals to move money at internet speed through the power of their stablecoins: USDC and Euro Coin.

Back in December, Circle announced they would launch USDC on Avalanche to promote eco-friendly platforms and expand their DeFi protocols. The problem? USDC was built on Ethereum, the biggest network out there, with the most amount of daily transactions. People wanted to use USDC on Avalanche but they simply couldn’t.

Hence, USDC.e was created as a solution to this problem. It works on Avalanche, while retaining its Ethereum roots. Still confused?

Is USDC E the same as USDC?

Short answer: no, they are not the same. They have the same value, but they are different. USDC.e is like a “version” of the USDC on the Avalanche blockchain. They are valued the same but they don’t use the same contract address nor operate on the same network.

I know it sounds complicated, but you’ll get the idea as you keep reading.

What is the difference between USDC and USDC E?

The main difference is that USDC is a stablecoin built by Circle and works on different blockchains, dApps, and wallets. On the other hand, USDC.e is just a bridged version of the USDC onto the Avalanche blockchain. 

The native coin is USDC, and USDC.e is like an extension of the value of USDC in the Avalanche ecosystem.

How do I add USDC.e to a wallet?

Unfortunately, you can’t add USDC.e to wallets like Metamask or Coinbase. Therefore, you should swap your USDC.e for USDC using an Avalanche dApp to store them in one of these popular wallets. As I’ve said before, USDC.e is only for the Avalanche ecosystem.

How to swap between USDC vs USDC.e on Avalanche

Several dApps let you swap USDC.e for USDC so you can add the coins to your wallet. Here are 3 worthwhile dApps to look at, with all the information you need to know when swapping coins.

Platypus

Platypus is the largest decentralized exchange built on Avalanche. It’s super easy to use and offers cheap fees to swap your USDC.e for USDC.

To swap USDC.e to USDC on Platypus:

  1. Navigate to Platypus Finance 
  2. Click on Launch App
  3. Connect your wallet to the app and select the Swap option
  4. Select how much USDC.e you want to exchange for USDC
  5. Click on Swap, and you will receive your USDC in your wallet!

Trader Joe

We’ve spoken about Trade Joe before in our unwrapping AVAX article. It’s also super easy to use, and it practically offers the same service as Platypus Finance though their swapping fees are slightly higher at a 0.3% trading fee.

Here are the steps to swap USDC vs USDC.e on Trader Joe:

  1. Navigae to Trader Joe XYZ
  2. Click on the Trade option
  3. Connect your wallet to the app
  4. Select the number of coins you will swap 
  5. Click on Swap to receive your coins in your wallet!

Paraswap

Paraswap is also a helpful protocol within the DeFi environment. They offer a dApp with the cheapest swapping fees to unbridge your USDC.e from the Avalanche blockchain (AKA swapping your USDC.e to USDC)

Pay close attention, as to swap your coin on Paraswap, you’ll have to follow an extra step:

  1. Open the Paraswap website.
  2. ‘Launch’ the app.
  3. Click on Avalanche when selecting the blockchain
  4. Connect your wallet to the app
  5. Select the number of coins you wish to trade
  6. Click Swap and Transfer to add the coins to your wallet.

Be aware of the third step when you’re swapping your coins; if you are not in the Avalanche option, you will not be able to select USDC.e to swap.

You can also use other dApps like Pangolin, Sushiswap, Yield Yak, and many others. It depends on your preference for the UI and trading fees, but they all essentially provide the same service with similar steps⁠—it’s like picking your favourite ice cream flavour.

Summary

One of the most well-known coins, USDC, can only function on the Ethereum network. USDC.e was created to let traders use the same coin on Avalanche, a growing network with eco-friendly goals.

To swap USDC vs USDC.e you just need to select an Avalanche dApp of your preference, connect your wallet, then trade your coins. It’s as easy as it sounds.