Tips on Converting Bitcoin to Monero

0
42

If you truly value anonymity when making financial transactions online, then you should know that Bitcoin isn’t fireproof in this regard. It always leaves some kind of trail of the transactions. To achieve utmost anonymity, most Bitcoin users prefer to convert the digital currency into Monero. And once they do so, no one can tell how much the transaction was for or which currencies were used.

Other reasons why you may want to trade in Monero:

  •       High acceptability in the dark market as a form of payment
  •       Continuous forks and upgrades

For those who would like to convert BTC to XMR for any reason, here are tips that will come in handy:

Before you even think about changing your bitcoins to Monero, you ought to know that crypto transactions are irreversible. Once you initiate it and confirm a transaction, you cannot change your mind. Therefore, you need to be sure of the amount of BTC you want to convert. Remember, with the anonymity of Monero, it becomes tremendously difficult to rectify any mistakes that you may have made. Always double-check everything before proceeding with any transaction to avoid any costly errors.

  •       Use a cryptocurrency swap service

When it comes to converting cryptocurrencies, a swap service makes your job easy. Moreover, you will find several platforms that offer this service online. Before you get started, ensure that you are working with a legit service provider. You can read reviews on the platform to get an insight into whether or not it is safe and reliable. NakitCoins ranks among the best crypto swap services online.

  •       Trading

Another way to convert BTC to Monero is through trading. Think of it as using a currency to buy what you want. This means that you can go to any trading platform and use bitcoins to buy Monero.

Advantages of Monero

As much as Bitcoin appears to be the superior currency in the crypto market, Monero comes with plenty of advantages. Some of the advantages include:

  •       Privacy

Monero is undoubtedly the leading digital currency in terms of privacy. With this cryptocurrency, no one can trace back the transactions to you. No one will even know how much XMR you are holding in your wallet. As such, you have the freedom to transact without raising an eyebrow.

  •       Adaptive blockchain

Most cryptocurrencies have a limitation with the blockchain. And you have to operate within a certain range when transacting. As an avid Bitcoin user, the chances are that you have noticed the network slows down when volumes are high. For some folks, this is a massive inconvenience. With Monero, the block size limit is flexible. No matter how high the volumes are, you can transact without any delays.

  •       Future developments

Monero is ever developing. Its developers are always one step ahead. From time to time, they introduce new and unique features that most users appreciate. Currently, they are working on rolling out the invisible internet project to help protect its users from intrusive monitoring

So, have you been wondering how you can convert BTC to XMR effortlessly? Try out the tips we have listed above, and you will like them.

LEAVE A REPLY