Cryptocurrencies can be profitable investments if you know how and where to trade your tokens. Do you wish to swap ONE to CAD? You need an exchange site to facilitate your transaction. Find out how you can proceed in this article.
What is ONE?
ONE (Harmony) is an Ethereum-based token offering transaction at an affordable cost within two seconds. This token operates like other blockchain cryptocurrencies -there is a need for proof-of-stake and proof-of-work protocols for any successful transactions. The token is dedicated to building a bridge for efficient trading across Ethereum tokens and software.
Its founder, Stephen Tse, claims that no other crypto attracts a transaction fee that equates to 1000 times lower than this token. Traders can invest by staking this token or using it as a payment plan. The ONE token intends to be used for governance in its future projects.
Currently, the asset ranks 66th among other blockchain-based coins with a market cap of $2.9896 million. The cost for one token is approximately $0.2772.
Staking $ONE can be in two ways; as a delegator or validator. The former allows you to earn rewards by delegating your assets to a validator, whereas the latter is a bit technical as it needs proof of work and proof of stake protocols.
What is CAD?
CAD (Canadian Dollar Token) is an Ethereum-based token fully operating under the Canadian Dollar endorsement. It is a fiat currency that you can redeem or exchange for one Canadian Dollar (1CAD is equivalent to 1 Canadian Dollar). Like other fiat currencies, traders can use CAD as a payment option as approved by The Bank of Canada.
As you can see, both ONE and CAD are fiat currencies that can be mined, staked, or be used as payment options. So, where do you convert the two cryptocurrencies?
Where to Convert ONE to CAD
The best place to convert ONE to CAD is on sites that allow swapping the two cryptocurrencies. You can find the best cryptocurrency exchange aggregator platform to complete your transactions. Usually, you will incur a transaction fee to own the new CAD assets.
Besides swapping the two digital tokens on exchange sites, you can also trade hassle-free on Ethereum-based platforms. This can be profitable since both ONE and CAD are both ERC-20 tokens. Plus, you wouldn’t incur high trading fees.
How to convert ONE to CAD
If you want to own Canadian Dollar Token cryptocurrencies but have ONE, you need to find an exchange site that facilitates this trading pair. A good exchange site should offer hassle-free trading at affordable rates. Also, find out if you need an account or not before settling on a viable platform.
Next, choose the trading pair (ONE to CAD) and proceed with the prompts. You need to submit the number of ONE token you want to exchange and decide whether to do it at a fixed rate or a floating one.
Then provide the address you want to receive your new tokens and confirm if you can proceed with the transaction. The process should be instant on some exchanges or take a maximum of ten minutes, depending on how busy the site is.