How to Exchange Ethereum to Ripple at the Best Rate?
Cryptocurrencies have been in the spotlight for some time, and many traders and investors aim to exchange these digital assets in order to make profits. For those who don’t know yet, people have made fortunes by investing in and trading cryptocurrencies.
Most people confuse Ethereum with Ether, which is the native cryptocurrency of the blockchain platform Ethereum. After Bitcoin, Ether is the second most well-known cryptocurrency and the second-largest by market capitalization.
However, there are a few things that you should know before you can exchange or convert crypto assets. We will now discuss why you should convert ETH to XRP and how you can exchange ETH to XRP at the best price.
What is a Ripple coin?
Ripple or XRP is a native cryptocurrency of an open-source DeFi XRP Ledger. Whoever uses the Ripple platform to make a transaction will have to pay a very small amount of XRP as a transaction fee. Hence, XRP use cases are predominantly payments within the Ripple network. XRP is almost always listed among the top 5 cryptocurrencies by market capitalization.
Ripple is the name of the company and the blockchain-based digital payment network behind the cryptocurrency known as XRP. Parties can perform quick and safe transactions easily using the Ripple platform. From anywhere in the world, users can send and receive fiat currencies and other cryptocurrencies, such as Ether and Bitcoin.
Regardless of its ambitions, Ripple is currently tied down because of legal problems with the SEC (Securities and Exchange Commission), although that’s hardly enough to prevent the price value of XRP from increasing. People continue to buy XRP as a coin to exchange for other cryptocurrencies, as an investment and as a way to finance transactions on the Ripple platform.
Why convert ETH to XRP?
Many people think XRP, or Ripple as most people call it, is a good investment. This is because they find the benefits and the potential of XRP compelling. Let’s look at some of these benefits that make people exchange their crypto tokens to Ripple or XRP.
One of the biggest differences between ETH and XRP is that Ripple transactions are amazingly fast and the network can process more than 10,000 different transactions in just one second. On the other hand, Ethereum is much slower and can process only about 15 different transactions in one second.
One more thing that you should need to know is that the supply of Ripple tokens or XRP is limited to 100 billion, whereas, Ethereum has a limitless supply of ETH or Ether. While Ripple continues to grow in popularity in a gradual manner, more people want to get their hands on XRP.
Moreover, there has been a rise in the number of users joining the network and this has given crypto enthusiasts and investors a positive impression of XRP’s future. While XRP was created to be used as a currency on Ripple’s platform, many online businesses and merchants have started accepting payments in Ripple’s token XRP.
Many experts believe that the price of XRP will increase in the near future. Investing or exchanging your crypto assets to Ripple could prove to be a good move as the price is currently low. Various organizations and businesses have invested in Ripple and we can expect an increase in its price soon. Those who invest in XRP today could make huge profits in the future.
How to exchange ETH to XRP?
In order to exchange ETH to XRP, you can follow these easy steps:
Step 1. Go to Swapzone in order to get the process of exchanging ETH to XRP started.
Step 2. In the “Send” section, select ETH (Ether) and specify the total amount of your crypto assets that you want to convert.
Step 3. In the “Get Up To” section, select XRP (Ripple).
Step 4. Multiple exchanges will appear on your screen. Take your time to review all the options.
Step 5. The options with the best price or the best exchange rate will be listed at the top. Swapzone also informs users how long it might take to complete the exchange.
Step 6. Choose the exchange option that you wish to proceed with and enter your wallet details to receive XRP (Ripple).
Step 7. Copy the generated ETH address and confirm your ETH deposit amount. Remember that the amount of the deposit should match the one you specified on Swapzone.
Step 8. Now you will have to wait for the deposit to be confirmed by the exchange option you selected, and then wait for the exchange to be completed.
Step 9. Remember to rate the exchange service on Swapzone once the process has finished. This will help Swapzone gather more information on the exchange partners for future users.
About Ethereum exchange fees
If you’re looking to exchange or convert your crypto assets through an exchange service, you should know that most of the exchange platforms will require you to pay a small amount as a transaction fee.
Moreover, it’s worth noting that performing transactions on the Ethereum platform can cost you about 4-6 ETH or Ether. However, with the help of Swapzone, exchanging Ether to Ripple can be made easier for you. Swapzone allows users to view all the required information, including the exchange fee. You can also view real-time, fixed and floating exchange rates. On Swapzone, you can use their helpful tools and features. With all the relevant information in front of you, you can choose the exchange option that you prefer.