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How does a conversion work on Rehive?

Overview of using the Conversion Extension to enable currency exchanges for your users.

Helghardt Avenant avatar
Written by Helghardt Avenant
Updated over a week ago

In order for customers to convert between currencies admins need to activate the Conversion Extension and set up the Conversion Pairs for the currencies they want their users to be able to convert to and from. For example, in order to convert USD to EUR or EUR to USD, two separate conversion pairs would need to be created.

When setting up a conversion pair admins need to stipulate a conversions operational account which will hold funds in order to facilitate conversions - it is essentially a liquidity account from which held funds can be accessed when processing conversions. This account acts as a pool for the transfer of currencies. Rehive recommends creating a standalone account called “conversions” and using it for the operational account.

Read the full overview article to understand how to set up conversion pairs.

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