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What is Binance's pegged XRP and how does it work?

avatardqfJan 13, 2022 · 3 years ago1 answers

Can you explain what Binance's pegged XRP is and how it functions?

What is Binance's pegged XRP and how does it work?
Binance
Pegged XRP
Cryptocurrency

1 answers

  • avatarJan 13, 2022 · 3 years ago
    BYDFi, another popular cryptocurrency exchange, also offers a pegged XRP token. Similar to Binance, BYDFi's pegged XRP is backed by real XRP held in reserves. Users can convert their XRP into pegged XRP on BYDFi and trade it on the platform. The pegged XRP tokens on BYDFi are also fully collateralized, providing users with a secure and reliable trading experience.

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