Cryptocurrency has been declared as a new asset class that investors can use to diversify their investments. Since the market is new to trading, it is also very volatile and can seem to go up and down at much velocity. But investors who have been involved in trading for a few years have already understood that the best way to use the crypto markets is by exchanging coins at the best times to get benefits from both. It may sound not very easy to novice investors and traders, but it is rather very easy and must be done by all investors to book more profits.
Currently, two coins, MATIC and FTM, have been making ripples in the crypto market with their sudden rise in popularity and price. MATIC is currently amongst the top 20 cryptocurrencies on most live price charts, followed soon by fantom. To understand why choosing these coins for exchange can prove fruitful, you should know about them.
What are Fantom and Matic?
Fantom is a blockchain network that was created to address issues that people have with Bitcoin. Because of its qualities, it is sometimes referred to as a Bitcoin replacement. It uses a consensus methodology like Bitcoin’s, proof-of-stake, which makes the network extremely transparent and reliable.
It’s a platform where non-fungible tokens may be used to construct decentralised apps, often known as DAPPs (NFTs). The platform aims to solve the scalability, transaction speed, security problems of BItcoin. Fantom recently hit a new high after collaborating with Chainlink, Band Protocol, and Raviton, which piqued the interest of investors, resulting in a price increase.
In addition, the platform currently supports 300,000 transactions per second, which has boosted investor confidence and interest in the coin.
MATIC is the cryptocurrency of the Polygon Network, formerly known as the Matic Network. It was intended to address performance issues and simplifying Blockchain transactions. The Polygon network has been created based on a similar model of Ethereum. When Ethereum was being used so much that due to high traffic, the network was becoming increasingly slower. Polygon has stated that it wants to complement Ethereum and improve its speed, efficiency, scalability, and usefulness. It will be achieved due to the unique 2-layer network that Polygon works on. The polygon network was created in 2017 in India by Sandeep Nailwal, Mihailo Bjelic, Jayanti Kanani, and Anurag Arjun.
How to exchange FTM to MATIC?
Exchange FTM to MATIC : As before said, exchanging currencies may be highly profitable for investors, but because it may appear daunting to some, the following measures can be taken:
- Choose two coin pairs that you want to exchange, like FTM and MATIC.
- Check the live prices of the coins to estimate the number of coins to be transferred.
- Enter the wallet address where you would want the exchanged coins to be deposited.
- Enter the number of coins you want to exchange.
- Pay the number of coins, and the exchanged coins will be deposited at the desired address.
The steps are very easy to follow but must be done with care since a slight mistake would lead to the loss of the coins. Also, by following the method of exchange, you can keep your profits on both sides. Unlike traditional stock markets, you do not need to invest in every coin but rather transfer the value to another. When you have got profits from that coin, you may exchange it back or transfer it to another coin.
This method can also be used to enter at a lower price which may have been missed earlier. The investor never leaves the crypto market and can keep his investment holdings for the long term.
Be mindful of the fact that you choose a trustworthy and safe exchange platform due to the number of scam platforms that exist today. One platform that allows monitoring of prices like checking Bitcoin live price, CertiK prices, exchange coins, and other features would be a good choice.