What Platforms to Use for WAX to XRP Exchange
The crypto market is full of great exchange platforms, which guarantee you quick and secure transactions. Some of the reputed platforms are:
- Binance
- Godex
- Coinbase
- Bisq
All of these services are a reliable option to swap your coins. Choosing one of them is a matter of personal preferences and needs. Today, you will find out what factors to consider when looking for an exchange. You will also refresh your memory a bit of the WAX to XRP pair and get acquainted with the latest stats.
WAX to XRP Pair Details
WAX coin operates as an ERC-20 token, protocols of which are Ethereum-based. It is WAX blockchain currency that helps to make e-commerce transactions faster. The maximum supply of this coin is 3.770.303.327, over 40% of which are already in circulation on the market. Since its launch in December 2017, WAX’s price has been within the $0.01-$0.05 range.
XRP was created in 2014 by Ripple. It is a cryptocurrency required to complete quick transactions within the RippleNet platform. Its maximum supply is 100.000.000.000 XRP. At the moment of writing (July 2021), over 45% of these coins are circulating on the market. The price is unstable and fluctuates quite often.
Reasons to Convert WAX to XRP
Investing in any kind of crypto project is a serious decision. Here, you can see the main reasons why WAX to XRP conversion is not a bad idea:
The current price and price predictions. You can look through the price history of each cryptocurrency and see tendencies. WAX coin’s price hasn’t changed a lot since its decrease back in 2018. On the other hand, XRP seems to recover after the May market crash. Having recorded $1.83 on April 14, it is logical to assume that XRP has much growth potential. You, as a trader, should buy cryptocurrency that will bring you profit;
Use cases. If you are a user of the WAXP network’s services, then WAX coin is needed, as it fuels the system and can be utilized for paying fees. The same works for RippleNet and XRP. Think if you are going to join either of the crypto networks and which of them appeals to you the most.
How to Choose a Suitable Exchange Platform
To convert WAX to XRP, you need a reliable platform, as you are going to entrust your digital assets to it.
- Look through the reviews and ratings on the Internet. Usually, they are written by the users and traders like you. So, checking them from time to time may prove to be useful. Still, remember that some services use the “dead” comments method. They write reviews by themselves on different platforms in order to gain more visitors. Thus, reading comments and reviews should be a good opportunity to get a general understanding of service but not the most reliable source of information;
- Decide on commissions and compare exchange rates. Traders never stop analyzing and comparing the market offerings. If you have selected a few platforms but don’t know where to start, check what is more profitable (or affordable) for you;
- Make sure that WAX to XRP conversion is possible. Despite the fact that most cryptocurrencies are widely available now, not all exchange platforms support them. Always check the list of currencies a service accepts. If WAX and XRP are there, then you can go ahead and swap them;
- Check the list of restrictions on the website. They may include restrictions on wallets, the number of transactions, or coins to exchange per day. By figuring this out in advance, you will have a better understanding of the platform and adjust your trading strategy accordingly.
Follow this checklist, and you will find your perfect platform to complete a WAX to XRP conversion. The market is broad and full of options. So, don’t deal with services that limit your trading in some way.