Exchanging cryptocurrencies is soon becoming a popular venture because of their simplicity and good profits. For example, the technique used to convert avax to btc is almost the same as the one used for converting XMR to BTD. Do you own XMR tokens and would love to swap them? Then, read on!
What is XMR?
XMR stands for Monero. Monero is an open-source digital currency that is oriented on privacy. The advanced privacy features of this crypto make all transactions concerning it to be very private and secure.
Some of these privacy features are stealth addresses and ring signatures. Stealth addresses are randomly created, and they are used only once on every transaction. Stealth addresses also hide the endpoints of transactions and the recipient’s identity.
Ring signature keeps a user’s identity from other members. Ring signatures are formed through the combination of account keys and public keys.
What is BTD?
BTD refers to the Bitcoin Diamond that originated from Bitcoin. The only difference is that it has an advanced proof-of-work algorithm. BTD was created to sort out the challenge of high transaction costs and meet customer satisfaction. In addition, there was the development of the Lightning Network to facilitate fast transactions on this coin.
The Lightning Network plays an important role in executing transactions amongst network users in a real-time mode. This payment protocol is grounded on the technique of putting multiple transactions out of the network. This activity is done through the creation of smart contracts that go along with every exchange operation. The final transactions are then recorded in blockchain history.
The exchange of XMR for BTD can be carried out on any cryptocurrency exchange site like Huobi, Investing.com, and Binance. The main agenda is that long the platform should meet the desired needs of an investor. For a successful conversion experience, you need to follow these steps:
- Choose a swap site with profitable deals (you can create an account if you like the site).
- On your gadget, click on the exchange panel and open it.
- Pick the coin and deposit the sum of coins you want to sell.
- Select the cryptocurrency coin you want to buy.
- Give your crypto wallet address so that you get swapped currency in return.
- Send the coins you need to give out for exchange.
- The system searches for you the available exchange rates. Choose the ideal one for you, and then submit it to complete the process.
The exchange operations require you to check the live price charts of the cryptocurrency pairs you are dealing with. Checking is a key aspect as it keeps you in the know of the available market trends and shapes your choice about this business.
Some benefits of dealing in the XMR to BTD exchange include:
- Best exchange rates through the smart rate technology
- Limitless exchange operations
- Selection of your suitable exchange rate (fixed and floating)
- No account set up and verification
Conclusion
As you engage in this cryptocurrency investment, it’s upon you to put in more effort because you are not limited on the coins to exchange. Getting a platform to exchange your coins should not be a big deal since they are so many. The exchange rates are nothing to worry about as you select favorable deals.