Digital dollars work as a single US dollar-backed balance in your Bitso account. You can deposit USD Coin (USDC) or Tether (USDT), and withdraw that balance as the other asset or as US dollars, always at a 1:1 rate and with no conversion fee.

What is a Digital dollar?

Digital dollar is Bitso's name for two stable digital currencies pegged 1:1 to the US dollar: USD Coin (USDC) and Tether (USDT). Both keep a fixed value of 1 US dollar because the company that issues each one holds reserves equivalent to the amount in circulation. Because their price doesn't move the way Bitcoin or other cryptocurrencies do, they work as a way to hold value in US dollars without converting back to your local currency.

How does the 1:1 conversion work?

Your Digital dollar balance works as a single balance, not as separate balances for USDC and USDT. When you deposit USDC or USDT, your Digital dollar balance goes up by the same amount. You can then withdraw that balance as the other asset (USDC or USDT), or as US dollars sent to a bank account, at a 1:1 rate.

Are there fees for converting Digital dollars?

No. Bitso does not charge a fee to convert between USDC and USDT or to convert to US dollars. If you withdraw to an external network, the standard network fee for that network applies.

What else can you do with Digital dollars?

You can buy Digital dollars directly in the Bitso app and send them to another Bitso user through a Bitso Transfer.