How to Exchange Monero to Ethereum at the Best Rate?
In this piece, we will tell you the differences between Monero and Ethereum cryptocurrencies and show a step-by-step guide on how to exchange Monero to Ethereum, or XMR to ETH, at the best rate. Read and swap your crypto on Swapzone.
What is Monero?
Monero is a cryptocurrency that applies privacy-enhancing technology to conceal its user’s identity and transactions. Many crypto assets including famous Bitcoin have transparent networks. This means their transactions are verifiable and traceable by everyone in their network. All sending and receiving of data could, therefore, be traced to real identities. But that’s not the case with Monero.
Another outstanding element of Monero is that it’s supported by a grassroots community that propels research and development and brings insights from many global developers. Since its creation, more than 500 developers have contributed towards its enhancement. They keep on working on every new tech that emerges to innovate products or services that are customer-friendly and solution solving. The community is always open to new members to join.
Monero (XMR) is the solution to high fees, delayed transactions, and hidden charges. It is convenient, fast, efficient, and free from any central authority control. It means that there is no legal jurisdiction that can slow its operations.
Why should I convert XMR to ETH?
If XMR is a top-notch cryptocurrency that ensures privacy and is strongly supported by the crypto community, then why would anyone want to exchange XMR for ETH? Well, there are several reasons as to why one may want to convert XMR to ETH, especially since Ether is also the second-largest cryptocurrency on the market. Die-hard conservatives may be more willing to join the crypto game with an asset that is more mainstream and safe-looking than Monero that’s been associated with the Dark Web and illegal activities within.
But that might not be the only reason. Ethereum (ETH) has developed to become one of the preferred cryptocurrencies due to its diversification. Nowadays the network is offering the products or services that were normally offered by traditional financial systems. Things such as deposits, loans, paying for premiums, use of crypto as collateral for loans. Its infrastructure facilitates the creation of more customized decentralized apps that could soon revolutionize the global economy. All this is an added advantage to Ethereum that keeps on gaining traction, with ETH growing in price, compared to Monero (XMR) that many investors may hesitate to invest in due to the Dark Web tag. Ethereum (ETH) is also the second-largest cryptocurrency.
How to exchange Monero to Ethereum?
Many investors are at crossroads when it comes to exchanging Monero for Ethereum. However, it is pretty simple. Several crypto exchanges offer those services with extremely low fees and surprisingly favorable rates.
Here’s how to exchange Monero to Ethereum on Swapzone:
- Go to Swapzone to get your work started.
- Select XMR in the Send section.
- Specify the total amount you are going to exchange.
- Select ETH in the Get Up To section.
- Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the XMR-ETH exchange.
- Confirm the offer you wish to proceed with and then enter the wallet to receive Ethereum (ETH).
- Copy the generated XMR address and send your Monero deposit. Make sure the deposit sum matches the one you specified on Swapzone.
- Wait for the deposit to be processed by the exchange service and the exchange to be done.
- Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.
If you’re a visual learner and would like to have a better understanding of how to convert cryptocurrencies on the crypto exchange aggregator Swapzone, watch our step-by-step video tutorial: