208
views

The Best Digital Assets to Swap to When Withdrawing Funds

To many crypto enthusiasts, Bitcoin (BTC) and Ethereum (ETH) are the currencies of choice when trading. Among other aspects, their wider acceptability makes them convenient means of trading. It is no wonder that two accounts for the lion’s share of the total transactions concluded in cryptos. Though they’re handy means of trading, their network’s high traffic makes their transactions attract higher fees, a concern to the cost-conscious user.

What to do then when hefty charges make holding BTC or ETH untenable? Easy! Withdraw your funds. Well, perhaps not. Considering that You would still pay more for the withdrawals, it may not be the best course of action. 

Swapping your funds for altcoins charging affordably, on the other hand, remains feasible. This article identifies five cryptos to consider when weighing that switch from either BTC or ETH.

Top Five Best Digital Assets to Swap

In arriving at the following five assets, we base our assertions on three factors. These are

  • The affordability of transactions
  • The rate of settlements
  • The security afforded to the users

Here are our top five cryptos to swap in when taking that shift.

1. XRP (Ripple)

XRP transactions take between 1 to 5 seconds. Hypothetically, the platform can handle a maximum of 1,500 transactions a second. Additionally, users will find the fees affordable. A single transaction attracts a millionth of a dollar’s cent. The integration of Cobalt will see XRP’s s transactions jump to 50,000 TPS. Moreover, the inclusion of Coil and ILP, among other Blockchain developments, will further enhance XRP’s transaction speeds.

XRP’s reliability is unparalleled. The platform has witnessed the completion of more than a billion transactions and the closing of an excess of 50 million ledgers. All these concluded without the emergence of even a single issue. Moreover, XRP has a robust architecture; successfully attacking it is nearly impossible. Again, it is the safest currency available. Its close relationship with Governments and financial sector regulators attest to this truth.

2. NEM (XEM)

The NEM platform accounts for transaction speeds of up to 4000tps. As such, it is one of the fastest cryptos to transact. Transactions take a minute to confirm. Transaction sizes determine the fees in NEM. The maximum fee chargeable is 1.25 XEM. This fee applies to all the transfers starting at 500,000 XEM. In USD terms, this would come to $ 0.05. Transactions below 500,000 XEM attract a 0.05 XEM fee per 10,000 XEM traded.

NEM’s adoption of the Proof of Importance protocol enhances its scalability. Further, it mitigates the issues inherent in using Proof of Work and Proof of Stake protocols adopted by other cryptos. The introduction of Catapult will further enhance the platform’s scalability and speed.

The Eigentrust algorithm in NEM’s network guarantees the integrity of the nodes. It guards against Sybil and loop attacks. Moreover, NEM negates any threats arising from smart contract usage by providing a customizable building block. Besides offering an alternative to its public chain, Mijin(its private Blockchain) enhances the network’s security.

3. VeChain (VET)

Transactions on VeChain take 10 seconds to complete. Block development also takes 10 seconds, requiring a single authentication of a successful trade. Based on this data, the chain can handle more than 10000 TPS. 

VET transactions are affordable. One requires VeThor (VTHO) to conclude exchanges on the platform. The data sizes determine the amount of VTHO incurred in concluding a trade. You’d spend 30 VTHO for a simple transaction and 1000 VTHO for a transaction involving a smart contract. The value of VTHO is $ 0.000812 at the time of writing. As such, one would require 81 dollars cents to conclude a smart contract transaction.

VET incentives holding of VET. The platform autogenerates 4.32 VTHO for every 10,000 VET held per day. Thus the transaction costs remain stable. Vechain also has robust security. It is difficult to execute a 51% attack as this would require the collusion of half of the Authority Masternodes, a virtual impossibility. Also, reputable organizations, rather than individual miners, run the nodes providing an extra cushion of security.

4. Cosmos Network (ATOM)

The Tendermint Core allows Cosmos (ATOM) blockchain to attain lightning speed transactions. The block has one-second block capabilities and the ability to handle 10000 TPS. Transactions on Cosmos ATOM are among the most affordable one could find. The blockchain charges $0.27 per 1000 exchanges, a figure well within reach of many.

Cosmos ensures the security of its network by penalizing validators that compromise it. The penalty for such violations is the slashing of their staked ATOM tokens. The network has a minimum of 21 days waiting period, which helps scrutinize each validator’s action. During this time, the validator cannot un-stake their tokens.

5. Cardano (ADA)

Compared to other platforms mentioned above, Cardano’s transaction speeds are slower. An average transaction takes about five minutes to complete. However, users can expect faster speeds once the network completes its full development.

Cardano’s Transactions attract a minimum transaction cost of 0.155381 ADA ($ 0.025360) and an additional 0.000043946 ADA ($ 0.000007) per byte of transaction size. Consequently, it is one of the most affordable cryptos to trade-in. Cardano guarantees users’ security through smart contracts. Additionally, it incorporates a dummy transaction cost that makes it unprofitable to generate large scale attacks. This way, it deters attacks on its platform.

Final Thoughts

Bitcoin live price
Btc
Bitcoin
$29.061
price
0.60613%
price change
BUY NOW

Bitcoin and Ethereum continue to hog the total maximum transactions concluded among other cryptos. The popularity of such coins (BTC and ETH) translates into higher transaction fees for their users and an off-putting situation for the cost-conscious individual. The hefty changes that trading in them draws dampens the enthusiasm for withdrawals. Switching to altcoins levying lesser fees is definitely a viable alternative. Although the market offering is diverse, we reckon the five digital assets presented in this article offer the best bang for your buck. In reaching that conclusion, we have emphasized three aspects: affordability, transaction rates, and user security. 

Stay up to date with our latest articles

More posts

How Can You Determine the Rarity of an NFT?

The rarity of a non-fungible token (NFT) is one of the most often debated topics on the internet. The rarity of an NFT is one of the most critical elements in determining its value. Understanding how rarity works is a significant advantage for anyone investing in the NFT market. How can traders learn to measure this feature for any digital asset? Our guide today will share more insight on this critical aspect. Is It Possible to Measure Rarity? There has…

What is Tornado Cash, and How Does It Work?

Decentralized and non-custodial, Tornado Cash is an Ethereum-based solution for privacy and anonymity. Severing the on-chain link between those who send and receive coins enhances transaction anonymity.  This guide will provide our readers with more insight into Tornado Cash. We will start with a general introduction and move deeper into how Tornado Cash works. We will also add a list of pros and cons to this system for the reader's benefit. Understanding Tornado Cash Decentralized protocols such as Tornado Cash…

How Can Crypto Trading Bots Help You Manage Your Investments?

Bots are computer programs designed to carry out specific activities automatically. They operate with the least amount of human input possible.  Crypto trading bots are automated programs that trade a single coin or a portfolio of cryptocurrencies. They trade on one or more exchanges on behalf of the owner or user.  Cryptocurrency bots can automate trading tactics to increase portfolio profits. Today, we'll take a closer look at this ever-expanding technology.  A Simple Way to See Crypto Trading Bots Artificial…

Can You Really Protect Your Crypto Investments Against Whales?

It is only natural that the price of BTC changes following whales' transactions. Because altcoins have smaller market capitalizations, this effect is even more pronounced on their prices. The ways whales manage to manipulate the market are inventive and can lead to heavy losses for small traders. In our guide, we look into the matter and reflect on how to protect a wallet against whales. Understanding the Concept of Whales The term "crypto whale" refers to a person or organization…

What Are Fractionalized NFTs?

Most people who use the internet regularly, whether for business or pleasure, are familiar with NFTs. Everyone in the crypto/blockchain community looks at these "Non-Fungible Tokens” with interest.  The only problem is that NFTs are becoming extremely popular and too costly to own.  In this context, Fractional NFTs, or F-NFTs, have entered the market to attract new investors. Imagine dividing a single NFT into smaller parts and making it available for purchase. This concept is the principle governing the growing…

Diluted Market Cap – A Beginners’ Guide

The value of a cryptocurrency is difficult to predict, especially if we are dealing with a new token. If you're looking to invest in cryptocurrency, measures like the fully diluted market cap can guide your choices.  The term "fully diluted market cap” will represent the core of today’s guide. We'll begin by defining the sector's market capitalization before moving on to more advanced notions. Market Cap in the Crypto Industry The total worth of an asset now in circulation corresponds…

Top Crypto Marketing Agencies to Promote Your Cryptocurrency Project in 2022

Nowadays, launching a crypto project can be a daunting task for most developers, especially considering the competition. This report claims that the industry amasses over 18,000 cryptocurrencies as of March 2022. Whether you focus on NFTs, DeFi, or any other crypto-related activity, you will have to face stiff competition. Fortunately, you can gain a competitive advantage over your peers with the help of crypto marketing agencies. These services cover all the promotional aspects your project needs to get into the…

The Difference Between Capped and Uncapped ICOs

Some ICOs decide to set a cap on how many coins investors can buy. However, some people choose to offer unlimited coins at the sale. Different teams can follow different strategies to obtain success in this growing market. Today, our guide aims to make a clear distinction between capped and uncapped ICOs. Understanding the Concept of ICOs An ICO (“Initial Coin Offering”) is a way to launch a new cryptocurrency. ICOs are a way to raise money for a project…

Is It Possible to Spot a Fake NFT?

Blockchain technology should have made life simpler for digital artists selling unique tokens of ownership to other people. A public ledger can give buyers a record of who owns a piece of art in perpetuity. Blockchain gave some artists a new chance to earn money. However, some artists admit that the last year's crypto boom has been a real mess.  Anyone can "mint" a digital asset as an NFT, even if they don't own it. How do you spot a…

Unstoppable Domains – A Beginner’s Guide

Unstoppable Domains are an intriguing and unique new option that is gaining traction in the crypto industry as more people become aware of them. Even though you may be inclined to dismiss them as simply another "crypto craze,” you may not want to be so hasty in your judgment. Whether you have your wallet or just learning about crypto, unstoppable domains have some unique advantages that you might consider utilizing for your website. This post will go over all you…