How to Convert XRP to USDC
The crypto world is ever-changing, with new coins and tokens coming onto the scene almost daily. If you are looking to convert Ripple to USD Coin, it is a relatively straightforward process. You will start by registering on the site and then deposit XRP coins into your account from your wallet. After that, you will trade your XRP tokens for USDC on the platform’s trading section
About XRP & USDC
What is Ripple?
Ripple is a digital payment system and uses blockchain to allow for a transaction. Unlike other systems, it does not use mining but goes through a group of bank-owned servers to confirm transactions. Since its launch in 2012, XRP’s design and architecture sparked discussion on how to build blockchains and the use cases they should try to address.
One of its more ambitious features complements traditional payments by migrating transactions between databases controlled by financial institutions to infrastructure with more openness. Ripple has a diverse team, including the founders of OpenCoin, technologist Jed McCaleb and Chris Larsen, who are known for creating fintech companies like E-LOAN and Prosper.
What is USD Coin?
USD Coin is a stable coin created and controlled by Centre, a consortium of companies with several global financial institutions. The coin was launched in September 2018 and offers an alternative to the US dollar. USDC is backed by US dollars, and being an ERC-20 token built on Ethereum, it can carry out transactions faster and more cost-effectively than banks. Besides, one USD Coin equals one US dollar.
Convert XRP to USDC using Rubix
Rubix offers security that is uncommon with other exchanges. In addition, it has unique, industry-leading encryption and multi-factor authentication to protect your accounts while you engage in purchasing, selling, or trading cryptocurrency.
Below is a step-by-step guide to follow to convert your XRP to USDC using the Rubix exchange:
- Create an account on the Rubix exchange using your email address
- After creating an account, select the exchange pair of XRP and USDC
- Check the exchange rate and enter how many XRP you want converted to USDC
- Confirm the transaction