USDRIF-ZAR price

The USDRIF is the main stablecoin pegged 1-to-1 to the US dollar on the Rootstock blockchain. It is collateralized in crypto and can be minted by depositing RIF tokens. Launched in late 2023, it replaces the previous RDOC stablecoin.

Right now, 1 USDRIF is worth R .

Right now, 1 South African rand is equal to USDRIF.

Rootstock is an Ethereum-compatible blockchain that was created as a solution to enjoy both the smart contract capabilities of Ethereum and the decentralized security offered by the Bitcoin blockchain. It was first launched in 2018 as RSK and it was rebranded in 2023 as Rootstock.

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.

The USDRIF 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 USDRIF to deviate from the US dollar price for various technical or market reasons.

You never store USDRIF in itself. Instead, you store the private key giving you access and control over a wallet address that contains USDRIF. 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 USDRIF, you use a Rootstock 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 USDRIF with us here from South Africa by sending us bank transfers in ZAR, avoiding that way unnecessary currency exchange fees. For more information, have a look at our step-by-step tutorial on how to buy USDRIF.

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

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