The Benefits of Swapping BTC to ETH
Since the recent June dump, many cryptocurrencies have touched the bottom. BTC hit the point of $17,800 and bounced back by 43%. At the same time, its main competitor ETH tested $890 and already increased by 131%. All this made investors think of switching their digital gold to another smart-contract king.
Should you opt for BTC to ETH exchange too? Let’s figure it out!
BTC to ETH: Why to Get Rid of Digital Gold?
If you decided to click on this article, then you no longer want to hold BTC for years. Guess your primary aim is to multiply your deposit by several times in a couple of years. So, analyzing BTC/ETH performance is the next thing you should do.
Bitcoin Failed to Meet Investors’ Expectations
Nayib Bukele, Michael Saylor, and Elon Musk are the top 3 famous Bitcoin holders. All of them claimed to have an average Bitcoin price of $30,000. Based on this fact, many predicted the bottom of BTC to be no lower than $28,000. However, the market had other plans and gave us a drive up to $17k. This greatly scared investors that were actively buying digital gold after a significant fall from $46k (-36%).
Terra Luna crash, inflation data, Tesla’s sale of 75% of their BTC, and consequent miners’ capitulation influenced the growth of the first cryptocurrency. Today, this asset is passing by ETH both in terms of attractiveness and news background.
Ethereum 2.0 Upgrade
According to crypto analyst Willy Wu, the price of Ethereum is set to break the long-term bearish trendline that has been observed in the market for more than three and a half months. However, at present, in his opinion, the altcoin is on the way to a trend reversal.
Considered a milestone on the mainnet of Ethereum, The Merge update is approaching rollout following successful testing on the testnet. Before the update, there is a surge in Ethereum token burns, with more than $5 billion in ETH being taken out of circulation by the burn.
Previously, EIP-1559 was considered a key upgrade in the Ethereum ecosystem, as its goal was to ensure the predictability and stability of transaction fees. Supporters of The Merge are confident that the upgrade could put deflationary pressure on Ethereum.
As the burn reduces the overall supply of Ethereum, this could positively impact the price, fueling the altcoin’s rally. For example, crypto analyst and trader Michael van de Poppe believes that the price of Ethereum could rise well above $3,000.
“There is a nice bounce in Ethereum here, which makes it likely that we are going to climb to a high around $3,000. The question will be how much we are going to move on, an immediate pullback or a new peak of the rally. Critical Support — $2,800,” the crypto analyst said.
FXStreet analysts believe that Ethereum’s price closing above $3,033 could lead to a perfect bullish breakout for the first time since October 2021.
Exchanging BTC for ETH on Godex
Having decided to exchange BTC for ETH, we also have to choose a platform to hold this transaction. So far, the most appealing option was Godex. It is a popular anonymous crypto exchange that provides its users with many perks.
Unlike its centralized, non-anonymous competitors like Binance or Coinbase, Godex requires no data from its clients. So, to make a purchase or exchange one coin for another, you don’t have to register an account. The process is smooth and fast like shopping around the corner.
You choose a trading pair, connect your wallet, and make a sell/purchase. Just like the cashier doesn’t ask you about your documents, the same applies to Godex workflow.
The Perks You Get
- Anonymity. The exchange isn’t interested in your personal data. Top up your crypto wallet without indicating your ID.
- No registration/verification/accounts. No need to spend hours registering, verifying your account, and filling out personal information.
- No limits. As a rule, it is prohibited to withdraw more than, for example, $30,000 a day without verification. With Godex, you can play with any amount you want.
- No data breach records. Without indicating your personal data, you may no longer be scared of data leakage.
- High customer satisfaction. As per the customers, the process of trading on Godex is smooth and comfortable.
- Hundreds of coins. Find 300+ coins in one place.
Indeed, Bitcoin maximalists feel bad these months as their favorite coin isn’t performing well. Simultaneously, ETH is the #1 technology to observe. However, no one knows what will happen after The Merge, so maybe it would be better to hedge your risks and leave some BTC on your online currency exchange.
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