RUBX Exchange on eToroX
RUBX is the symbol for the tokenized stablecoin that represents the Russian Ruble on eToroX, the blockchain and cryptoasset arm of eToro. The value of the Russian Ruble is the same as that of RUBX, and the rate of the Ruble to the RUBX is 1:1. You can trade RUBX on eToroX similarly to how you would trade the Ruble in the forex market.
RUBX Exchange Pairs
RUBX is currently paired on the eToroX Exchange with the tokenized stablecoin of the US Dollar (USDEX).
To acquire RUBX, you need to purchase USDEX with another cryptoasset, such as Bitcoin, Ethereum, or Bitcoin Cash (for example), and then buy RUBX with USDEX at the prevailing forex market exchange rate between the US Dollar and the Russian Ruble.
Pros & Cons of Trading RUBX on eToroX
eToroX Exchange is the blockchain and cryptoasset arm of eToro, a company with more than 12 years of experience as a forex brokerage, with the track record required to instill trust in traders and investors that it can handle its new exchange properly.
eToroX is a regulated entity. The exchange is authorized and licensed by the Gibraltar Financial Services Commission (GFSC). Therefore, the RUBX exchange process is rendered transparent and attractive for investors. RUBX trading under transparent conditions builds investor confidence. It also tells traders that they have a channel where they can seek redress if they feel wronged.
How to Trade RUBX with eToroX
Currently, you can only buy and sell RUBX using USDEX. RUBX trading commences with first opening and verifying your trading account. You can also use your existing eToro account to create a profile.
Once your account is verified, you need to fund it, using a multi-crypto signature Wallet app, such as the eToro Wallet, which you can download from either the Android Play store or iOS/App Store.
After your account is funded, you need to purchase USDEX. For example, if you have Bitcoin, look for the BTC/USDEX pair so that you can exchange the Bitcoin for USDEX. You can then sell or buy RUBX with the USDEX, at the prevailing USD/RUB exchange rate.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.