Circle Invest: Where Your Cryptocurrency Is Safely Stored

Circle is a financial technology firm that allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and several others. Users can transfer money from their bank accounts to their Circle Invest account and buy cryptocurrencies. Circle Invest also offers a digital wallet to store cryptocurrencies. The company is headquartered in Boston, Massachusetts, and was founded by Jeremy Allaire and Sean Neville in 2013.

Circle Invest's digital wallet

Circle Invest is a cryptocurrency investment product offered by Circle, a peer-to-peer payments technology company. Circle Invest allows users to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. One of the key features of Circle Invest is its digital wallet, which provides a secure way to store cryptocurrencies.

The Circle Invest digital wallet offers two-factor authentication to protect user accounts and investments. This added layer of security ensures that even those new to investing can feel confident in using the platform. The digital wallet is integrated into the Circle Invest platform, making it convenient for users to manage their investments.

With the Circle Invest digital wallet, users can easily move money from their bank accounts to their Circle Invest account and start investing in cryptocurrencies. The platform offers a wide range of coin collections, allowing users to diversify their investments and increase their market knowledge. Users can also choose to invest in pre-selected market buys or create their own combinations of investments.

The digital wallet also provides users with the ability to access and manage their coin collections securely. This includes features such as buying, selling, and transferring cryptocurrencies. The wallet supports multiple types of cryptocurrencies, giving users the flexibility to choose the coins that fit their investment strategies.

Two-factor authentication

To set up 2FA on your Circle Invest account, log in to your account and access the 'Settings' menu. From there, select ''Security' and then 'Two-factor authentication'. You can then choose to receive your verification code via SMS or by using an authentication app such as Google Authenticator or Authy.

If you lose access to your registered 2FA device, you will need to fill out a form and provide a colour image of your government-issued ID, as well as a colour selfie of yourself holding your ID next to your face.

Circle also allows you to personalise your 2FA settings for cashing out. You can choose to require 2FA for transfers that exceed a custom amount over a 24-hour period, or you can keep the default settings, which require 2FA for withdrawals of any amount.

USDC stablecoin

USDC is a stablecoin, a cryptocurrency whose value is pegged 1:1 to the US dollar. It is built for rapid global payments and 24/7 financial markets, using blockchain infrastructure that is faster, less expensive, and more customisable than legacy rails.

USDC is a regulated and fully reserved digital currency. Its reserves are transparently held at regulated financial institutions, with published monthly attestations. The majority of its stablecoin collateral is held in short-term US government securities, and it is redeemable 1:1 for US dollars.

USDC is compatible with several blockchains, including Ethereum, Algorand, and Solana. It is also available on popular exchanges and protocols, and thousands of developers are building with USDC.

USDC offers several advantages, including low price volatility, being fully backed by US-regulated reserve assets, and being able to be used as a hedge against inflation. It can be used for everyday payments, commerce, and peer-to-peer transactions. It also serves as an onramp to the wider ecosystem of decentralised finance, given its stability and wide acceptance.

USDC is issued by Circle, a peer-to-peer payments technology company. Circle maintains the 1:1 peg with the US dollar by holding an amount of cash or cash equivalents equal to the amount of USDC in circulation.

Circle's crypto-trading desk

Circle Internet Financial, LLC, is a peer-to-peer payments technology company that offers a range of services related to cryptocurrency trading and investment. Circle's crypto-trading desk, Circle Trade, has been a key part of the company's operations and has contributed significantly to its growth and reputation in the industry.

Circle Trade was established in March 2014 with the launch of the original Circle consumer app, which allowed users in the US and UK to connect their credit or debit cards to buy Bitcoin. This app created a foundation for Circle Trade by facilitating the buying and selling of Bitcoin by users, while Circle employees worked in the background to meet customer demand. The app's popularity grew, and Circle Trade expanded its operations, eventually handling over $24 billion in notional volume across 1,000+ counterparties in 2018 alone.

The crypto-trading desk at Circle has played a pivotal role in the company's evolution. Led by Dan Matuszewski, the team initially bought and sold Bitcoin directly with other OTC desks and exchanges. As the network of individuals trading large amounts of Bitcoin grew, so did the relationships fostered by Circle Trade. This led to a shift where traders began approaching Circle when they needed to buy or sell Bitcoin in large quantities, marking the beginning of Circle Trade as a distinct entity within the company.

Circle Trade has since expanded beyond Bitcoin trading. In 2016, with the rise of Ethereum and the explosion in demand for its native token, Ether, Circle Trade began trading large volumes of Ether and ICO tokens in addition to Bitcoin. This diversification positioned them well for industry growth and the increasing popularity of cryptocurrencies.

Today, Circle Trade continues to be a significant player in the crypto OTC trading space, known for its integrity and excellence. The desk has traded with over 1,000 counterparties across 36 crypto assets, and its operations have expanded to New York, Hong Kong, and London. Circle's crypto-trading desk has been instrumental in the company's success and has helped shape the way money moves, making it more accessible, inclusive, and efficient on a global scale.

Circle's tools for companies

Circle offers a range of tools and services that can be leveraged by companies, particularly in the realm of digital currencies and blockchain technology. Here are some of Circle's tools and how they can benefit businesses:

USDC and Blockchain Services

Circle is a major player in the world of stablecoins, particularly with its USDC (USD Coin) offering. USDC is a cryptocurrency whose value is pegged to the US dollar, designed to hold a stable price of $1. This stability makes it attractive for businesses looking to utilise blockchain technology without the extreme volatility often associated with other cryptocurrencies. Circle's platform enables businesses to move money faster and more securely using USDC. It offers near-instant settlement, lower costs for cross-border payments, and access to the high global demand for US dollars. Circle's blockchain services also include an open developer platform, providing smart contracts, APIs, and SDKs, enabling businesses to tap into the global reach of blockchain technology more efficiently and securely.

Circle Pay

Circle's mobile payment platform, Circle Pay, previously allowed users to hold, send, and receive traditional fiat currencies, including USD, EUR, and GBP. While the platform was slated for discontinuation in 2019, it played a role in facilitating money transfers and, until December 2016, also operated as a Bitcoin wallet service. Circle has continued to evolve its payment solutions, focusing on blockchain integration and stablecoin utilisation.

Circle Invest

Circle Invest is a platform that enables individuals to invest in cryptocurrencies such as Bitcoin, Ethereum, and others. While it may not be directly targeted at companies, it provides an avenue for businesses interested in exploring cryptocurrency investments. Circle Invest offers an easy way to buy and sell cryptocurrencies, with low fees, instant deposits, and control over investment timing and amounts. The platform also provides two-factor authentication for added security.

Community Platform

Circle also offers an all-in-one community platform that allows businesses to build and engage with their communities. This platform provides tools for creating interactive and immersive experiences, such as live streams, group chats, and events. It offers flexible payment options, including subscriptions and one-time payments, enabling businesses to monetise their communities effectively. The platform integrates with existing tools and provides analytics and insights to help businesses grow and engage their customer base.

Frequently asked questions