Swapping BTC for TRX: Coin Background Check
Web 3.0 platforms are gaining popularity, and their technology is increasingly looking capable of revolutionizing the internet as they have promised for years. So, many crypto investors are wondering in they should convert their BTC to TRX to make extra profit. But, before making such a decision there are vital things to consider. In this article, we’ll look at the crypto general market trend, the latest news in Bitcoin and Tron, and some expert price predictions for each token. That should help you make a decision on whether BTC for TRX is a good trade.
Things to Know Before Swapping BTC for TRX
Bitcoin and Tron are both major crypto projects, with $400 billion and $5 billion dollar market caps respectively. But which one has more profit potential for investors? Below are the most important things you need to know.
General Market Trend
The crypto market has been in a steady downward trend for the past year. The market’s all-time high was in November 2021, when Bitcoin reached a peak of $69K, and TRX reached $0.3. By looking at the SIX Crypto Market Index 10, we can see the broad crypto market declined almost 75% by July 1st, 2022. Since then, the market gained over 60% for a local peak in August 2022 but has since declined again to near all-time lows. The overall trend for the crypto market is down right now.
Latest News on Bitcoin and Tron
Relative to the broader crypto market, both networks have been stable recently. However, some of the biggest news for Bitcoin and Tron has had to do with the latest upgrades to Ethereum.
Ethereum has recently undergone its biggest change ever, switching to Proof-of-Stake. This change has massive implications for Tron, which is a competitor to Ethereum. Tron’s main competitive advantage has been the speed and scalability it could offer with its Delegated Proof-of-Stake consensus algorithm. Now, this has been eroded by the Ethereum upgrades, making Tron less attractive.
Conversely, Bitcoin may actually gain from this development, as it leaves Bitcoin as the only major cryptocurrency in the top five that uses the Proof-of-Work (PoW) consensus model. Even though PoW is less scalable, many investors prefer this technology and see it as more decentralized and reliable. So this major move in the crypto world is bad for TRX in the long term, and possibly good for BTC.
BTC price predictions:
|2022 BTC Forecast||2025 BTC Forecast||2030 BTC Forecast|
|Average Forecast||$23,094||$60 288||$304 604|
TRX price predictions:
|2022 TRX Forecast||2025 TRX Forecast||2030 TRX Forecast|
Both have similar expected growth trajectories, but the average suggests BTC will grow faster than TRX (16X gain compared to 13X).
How to Swap BTC for TRX?
If you wish to swap BTC for TRX, one platform you can use is Godex. It’s an anonymous exchange with the following simple transaction process:
- Visit the Godex website.
- Choose BTC and TRX as your coins.
- Enter the amount to exchange.
- Enter your destination address to receive your funds.
- Send coins to the deposit address.
- Receive your funds at the fixed exchange rate, and that’s it!
Godex offers instant, private transactions you don’t have to create an account to complete. You can swap over 300 different coins, like BUSD to BNB — visit the page for more details: https://godex.io/exchange/busd-to-bnb.
BTC and TRX are both great crypto projects with promising futures, especially according to expert forecasts, with over 13x returns expected for both by 2030. But, a spanner in the works could be the Ethereum 2.0 upgrade. This could eat into the competitiveness and market share of Tron while leaving Bitcoin relatively unaffected. That’s why you will want to be cautious about making a BTC to TRX exchange in the near future.