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Exchange and trade Pax Dollar (USDP) on Rubix securely and quickly. Buy USDP for fiat currency or exchange it for other cryptocurrencies on the Rubix exchange. Rubix provides an intuitive interface and a secure trading platform for users to manage their cryptocurrency platforms via a smartphone or computer.
The Pax Dollar (USDP) is a stablecoin run by Paxos. Stablecoins are cryptocurrencies that have a value tied to their underlying fiat currency. In the case of USDP, the coin tracks the value of the US Dollar. One Pax Dollar is worth one US Dollar.
The Pax Dollar is backed 1:1 by US Dollars held in Paxos’ bank accounts. USDP operates on the Ethereum blockchain as an ERC-20 token and is widely recognized and used by a variety of cryptocurrency platforms. Stablecoins are often used to transfer cryptocurrencies between exchanges or temporarily ‘park’ funds to avoid volatility in the markets.
Who created USDP?
USDP was created by Charles Cascarilla and Rich Teo, the co-founders of the Paxos platform. There are many stablecoins in the cryptocurrency marketplace. However, the Pax Dollar’s key selling point is that it is 1:1 backed by US Dollars; Paxos has obtained permission from the New York State Department of Financial Services, allowing them to offer regulated services.
This backing and regulation provides peace of mind that the Pax Dollar’s value will truly remain stable even if there are fluctuations in the broader cryptocurrency market. In addition, traders living in states or countries that restrict the operation of certain other stablecoins may be able to use USDP thanks to its compliance with regulatory requirements.
How do I exchange and Trade Pax Dollar?
USDP is available to trade on a variety of platforms and exchanges. Rubix offers a convenient way to buy Pax Dollar with fiat currencies using your credit or debit card. In addition, Pax Dollar can be purchased using popular cryptocurrencies such as Bitcoin or Ethereum.
Exchange Pax Dollar via the Rubix trading app or using the website on your desktop or laptop. The platform has a clear and intuitive interface that makes managing your portfolio easy to do. View your balance, convert currencies, buy USDP or withdraw your fiat currency to your bank account all in one convenient trading and portfolio management interface.
Exchange USDP using Rubix
Rubix puts you in control of your cryptocurrency portfolio. Exchange USDP for other cryptocurrencies, buy USDP with US Dollars or Euros and sell USDP to withdraw fiat currency with just a few mouse clicks or taps in the phone app. The Rubix exchange protects your privacy, and trades are completed in real-time so you can be confident in the value of the trade and get updates on the value of the holdings in your portfolio each time you open the app.
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