The cryptocurrency market is experiencing a harsh bear market as prices are plummeting following a disfavorable macroeconomic environment. That being said, traders are still making profits by speculating on the volatility of these digital assets.
Two major players in this market are Ethereum and Tron. These smart contract-capable platforms are leading the competition with decentralized applications running on their chains. However, to make the best of your ETH to TRX trade, you will need some fundamental and technical analysis to back up your decision.
To help you make an informed trade, this article will analyze the latest fundamental changes in these two projects, conduct a price action analysis, and provide a guide on how to exchange ETH to TRX securely and anonymously.
ETH to TRX Exchange Pair: What You Should Know
Ethereum and Tron are blockchains that allow developers to deploy decentralized applications. While Ethereum is the more popular one of the two, Tron has a lot of potential thanks to its faster transaction confirmation and lower gas fees.
What’s New With ETH
Ethereum is the incontestable leader in the smart contract industry. As a pioneer in this technology, the platform has the highest number of decentralized applications. Hundreds of exchanges, lending platforms, NFT marketplaces, and blockchain games are running on its network.
However, this popularity has caused network congestion and high transaction fees. To address this issue, the network will be merging towards a scalable and sustainable proof of stake consensus, which will replace the current proof of work model.
This migration is supposed to happen in September 2022 and will provide a strong upwards potential for the platform’s token, ETH.
In the past months, Ethereum’s price has been plummeting, but the same could be said about the entire crypto industry. However, during the recent relief, ETH has recovered more than 50% value in just a couple of weeks, painting a bullish picture for the future.
TRX: Main Facts
Tron has been around since 2017 and was released as a direct contender to Ethereum, offering higher transaction throughput and lower gas fees. Even though it hasn’t managed to directly threaten Ethereum’s dominance in the industry, it came out as a decent low-cost alternative to deploying decentralized software.
An interesting fact about Tron’s recent price action is that the TRX crypto hasn’t suffered as much as other tokens out there. While the price has crashed significantly since its three-year high in April 2021, the price trend is indisputably on the rise.
This positive momentum has a lot to do with ongoing development on the platform and its algorithmic stablecoin USDD. While the stablecoin itself has been quite controversial, especially since the Terra/LUNA debacle, the move has brought considerable liquidity to the platform. As a result, the platform has entered a state of steady growth regarding the number of users and the value locked within its smart contracts.
How to Swap ETH for TRX Anonymously
Before you swap ETH for TRX, ensure that you have closely analyzed both tokens’ prices. This way, you will find the right time for the exchange.
Your next step is to find a reliable platform that supports this trading pair. Godex.io is an anonymous crypto exchange that has managed to streamline the crypto exchange process.
It offers a frictionless user interface that caters to both beginners and professionals, while simultaneously keeping trading fees low. The best thing about this exchange is that it doesn’t require any form of registration when exchanging crypto. All you need to do is enter your wallet address to receive your TRX. Here’s a step-by-step guide on how to proceed and exchange your ETH for TRX within minutes:
- Visit the Godex.io website.
- Choose your currencies on the web app. On the left, in the “You send” field, select ETH. On the right, in the “You receive” field, select TRX and click “Exchange.”
- Next, provide the amount of ETH you wish to exchange for TRX.
- Enter the address of your TRX wallet in the required field. The best way to proceed is to paste it from your wallet app.
- Send the ETH to the exchange’s address, and you will receive your TRX tokens within a few minutes.
You might notice how this process doesn’t involve any type of registration or KYC procedure. This ensures that you remain anonymous and keep your private data separate from your cryptocurrency funds. This is extremely useful when making large transactions or when you wish to make sure that your funds are as secure as possible.