How to Purchase United States Dollar (USD) using Frax (prev. FXS) (FRAX)

To buy United States Dollar using Frax (prev. FXS), first, find a cryptocurrency exchange that supports the USD/FRAX trading pair, such as Nexo, Kraken, Uphold or Crypto.com. Create an account, verify your identity, and deposit your FRAX into your exchange wallet. Locate the USD/FRAX pair on the trading platform and place an order to exchange your Frax (prev. FXS) for United States Dollar. If the USD/FRAX pair is unavailable, you can first exchange Frax (prev. FXS) for a stablecoin like Tether (USDT) or a fiat currency, then trade that for United States Dollar. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.