How to Convert XMR to USD
Cryptocurrencies are becoming very popular. For most people, crypto-trading is an opportunity to make a profit. For others, it is a way of life. But some just want to buy into the emerging asset class.
In either case, the added volatility makes crypto-trading a high-risk venture, sometimes wiping out even the most seasoned traders. But a crypto-trading strategy and a well-functional, secure system will offer you the technical help and a friendly platform to use.
About XMR & USD
What is Monero?
Monero is a decentralized cryptocurrency that uses technologies to obfuscate transactions to achieve anonymity. It was created to provide privacy and fungibility in 2014 and is one of the leading digital currencies.
Monero transactions are anonymous and untraceable by law enforcement agencies. In addition to the privacy features, Monero functions similarly to other major cryptocurrencies like Bitcoin. With Proof-of-Work mining and incentivizing miners, new blocks of XMR get added every few minutes.
Notably, hobbyists may find it easier than other cryptocurrencies, as this process does not allow specialized hardware use. It is easy enough for mid-range hardwares if you want extra cash doing some mining in your spare time.
What is USD?
The U.S. dollar is the United State’s official currency and has been one of the world’s most important reserve currencies. It is the primary currency on global currency markets and in addition, the USD is the primary fiat currency used in the crypto market.
The USD is widely accepted worldwide for its stability, liquidity, and reputation. It is used in transactions, savings, and investments. The U.S. dollar is also the official currency of a few other countries like Ecuador and Panama.
Convert XMR to USD using Rubix
The first step to converting your XMR is registering an account at Rubix. You then deposit Monero into your account via a cryptocurrency exchange. Once you have received your funds, they will automatically get converted to USD. You can then withdraw the dollars whenever you want and trade them for other currencies on the Rubix platform or any other exchange.