Verge (XVG) founders claimed that their projects fulfilled the privacy gaps Bitcoin (BTC) left behind. It makes traffic anonymous and masks the IP addresses of users. Also, transactions with XVG are cheaper and faster when compared to BTC. So, Verge can be a great alternative to Bitcoin when it comes to payments and trading.
Bitcoin is the oldest cryptocurrency on the market and offers much higher liquidity than XVG. Hence, for those crypto users seeking a long-term investment, BTC seems to be a more reliable option to invest in. But which parameters should you consider before deciding to swap XVG to BTC? And which exchange platform is worth using? Find out below.
Before the Trade
Every action that crypto investors take should be carefully evaluated. In particular, it is important to analyze current market trends — the price vector of the selected cryptocurrency, trading volume for the last 24 hours or even 7 days, etc. Also, do not forget about news regarding desired coins that can affect their dynamics in the future.
Probably one of the best tools that help to plan future crypto purchases is price prediction services. They predict how much a certain cryptocurrency will cost later this month, in a year, or even a few years. These forecasts are based on technical analysis with artificial intelligence assistance. Here are a few services worth trusting:
- DigitalCoinPrice.com
- Gov.Capital
- PricePrediction.net
Also, you should be aware of the current rate and may wait until a lower one is offered. Finally, there are miner fees and exchange platform fees in some cases that you also need to pay. Hence, selecting an exchanger with the lowest fees is half the battle. You can check the list with the best options below.
Top 3 Crypto Exchanges With the Best Rates
It can be hard to select the right crypto exchange platform out of nearly 600 that are on the market. Still, if you are looking for a safe and reliable place with low fees, you should take a look at the following options.
Kraken
One of the best centralized crypto exchange platforms is Kraken. It is a high liquidity exchanger that offers more than 120 cryptocurrencies to trade. There are two platforms available, where the main Kraken platform is suitable for newcomers. Kraken Pro with additional tools, such as futures trading, is perfect for experienced investors.
Note that there are different fees at those platforms. The fees on Kraken Pro depend on your trading volume and start from 0.26% taker fee or 0.16% maker free. The main platform offers a 1.5% fee for most cryptocurrencies and additional fees when buying crypto with fiat.
Bittrex
Another centralized crypto exchange platform with high-security standards is Bittrex. It supports 400+ cryptocurrencies and focuses on crypto-to-crypto trading pairs. Bittrex is more popular among skilled traders thanks to its high selection of assets and advanced trading tools.
There is a transparent fee structure on Bittrex, which depends on your 30-day trading volume. The fees for rarely active clients never exceed 0.35% and decrease to almost zero level for the traders with $100 million+ volume.
Godex
Godex is a non-custodial decentralized platform, where you can swap XMR to BTC and other 300 crypto assets without registration. One of the main features of Godex is protection against volatility when trading. The platform fixes the rate after you start a transaction.
Moreover, Godex does not charge its clients for using the platform. The only fee you need to pay is the minimum miner fee. Since the service does not hold any funds, you do not have to worry about any hacker attacks on Godex. Finally, there are no upper limits on the number of transactions you can make on the platform.
Which One to Choose?
All these exchange platforms have their pros and cons and are tailored to cover different needs. Some of them have higher fees but offer more features for advanced traders. Others comply with KYC and AML rules, which can be an advantage for certain traders but a real problem for others.
So, before selecting a cryptocurrency exchange platform it is important to distinguish which tools are crucial for you and which are not. Also, you should do your own research on additional aspects regarding each service beforehand.