FRAX-GBP price

FRAX is a stablecoin that tracks the price of the US dollar. Initially, it was partially backed by collaterals and partially stabilized by an algorithm, but today it switched to a fully collateralized model.

Right now, 1 FRAX is worth £.

Right now, 1 pound sterling is equal to FRAX.

A stablecoin is a type of cryptocurrency designed to have the same value as a given fiat currency, like the US dollar. Its purpose is to let users invest in and out of volatile crypto-assets easily while remaining on chain, to facilitate crypto payments, and to denominate the price of other tokens in currencies that people are familiar with.

For a detailed analysis of FRAX's safety, read its rating on bluechip.org.

The FRAX stablecoin is designed to follow the price of the US dollar, it is therefore determined by it. Maintaining such peg mechanism is challenging, and it is possible for the FRAX to deviate from the US dollar price for various technical or market reasons.

You never store FRAX in itself. Instead, you store the private key giving you access and control over a FRAX address. That key is stored in a wallet, which provides an interface to use it. To learn more, read our in-depth guide on storing crypto assets.

To send FRAX, you use a crypto wallet like Bridge Wallet where you will choose the amount to send and the destination address. Confirm and send, that's it!

You can buy FRAX with us here from the UK by sending us GBP bank transfers, avoiding that way unnecessary currency exchange fees. For more information, have a look at our step-by-step tutorial on how to buy FRAX.

You can swap FRAX here against one of the cryptocurrencies that we support, using any self-custodial FRAX wallet. For more information, have a look at our step-by-step tutorial on how to swap FRAX.

To cash out FRAX with us, you simply need to transfer your crypto to our address. We'll convert your FRAX in GBP, then transfer the funds to your bank account in the UK. For more information, have a look at our step-by-step tutorial on how to sell FRAX.