How to Convert NEO to USDC
Converting NEO to USDC is easy, you only need to find a cryptocurrency exchange that supports NEO to USDC conversions. Afterward, use the deposit, sale, or exchange features of the platform depending on the transaction you are undertaking. As soon as you complete the conversion, you will receive the USDC amount worth your exchanged NEO coins. The conversion process is quick and takes less than five minutes.
About NEO & USDC
What is Neo?
NEO is among the most valuable cryptocurrencies and is often referred to as the Chinese Ethereum. Originally known as Antshares, NEO was founded in 2014 by Da Hongfei. It was the first Chinese cryptocurrency. However, NEO is more than merely a digital currency. It is a blockchain-based platform, which allows developers to create decentralized applications and smart contracts.
Unlike most cryptocurrencies, NEO is not designed to provide an alternative to fiat currencies like the GBP, USD, and CAD. Similarly, the NEO coin cannot be divided. For this reason, you cannot make transfers like 0.11 or 0.25 NEO. The digital currency is somewhat similar to company stocks, which can’t get divided. When you have the NEO coin in your wallet, you can also use the GAS cryptocurrency to make transactions. Unlike NEO, GAS is divisible up to 0.00000001.
NEO’s popularity has grown immensely in the past few years, especially after its rebrand. Unlike most cryptocurrencies, whose value tends to swing wildly, NEO’s value has been relatively stable. NEO is similar to Ethereum, which was built to offer more options to investors. The NEO blockchain does the same, but even better. It has technical advantages over better-known digital coins such as Bitcoin and Ethereum. NEO’s emphasis on digitizing assets instead of digitalizing the currency also makes it attractive. As of early 2022, NEO’s market cap was over $2 billion.
What is USD Coin?
USDC is among the most notable stablecoins and is built to maintain a value of $1. It is issued by Centre, which is a joint venture between Circle and Coinbase. USDC is backed by USD-denominated assets held at audited and regulated American financial institutions. Although USDC has many uses in the cryptocurrency marketplace, it is primarily deployed by traders and in decentralized finance (DeFi).
As a stablecoin, USDC uses various mechanisms to maintain a stable price. Its value is pegged on that of the US dollar. This helps those holding the digital currency benefit from the dollar’s stability. The relative stability of the coin provides great relief to investors who want to avoid the price swings that characterize the cryptocurrency market. The digital currency is backed by dollar-denominated assets held in accounts regulated by renowned financial institutions.
USDC initially debuted on the Ethereum blockchain. It was an ERC-20 token during its nascent years before expanding to other blockchains. You can purchase USDC on a decentralized or centralized exchange. Since it experiences little to no volatility than traditional cryptocurrencies, USDC is excellent for remittances and payments.
Traders with exposure to major cryptocurrencies can minimize their portfolios’ volatility by purchasing USDC. For instance, converting your NEO to USDC during a period of market downturn can go a long way in stabilizing your portfolio’s value. Likewise, you can use USDC to price your NEO coins listed on exchanges such as Rubix. This is because USDC has a dollar-equivalent value.
Convert NEO to USDC using Rubix
To convert your NEO coins to the USDC stablecoin, all you need to do is create an account on the Rubix cryptocurrency exchange. The platform provides you with a safe, convenient, and straightforward way to manage your digital currencies. You can trade tens of cryptocurrency pairs, including NEO/USDC in a matter of minutes. Besides protecting your assets, the Rubix account enables you to make the most out of the conversions by providing you with a chart that keeps track of the exchange rates between different cryptocurrencies.