The year 2021 has seen some of the best positive market sentiments of investors in the crypto space. Investors had been in a buying frenzy and investing broadly on altcoins. If you are one of those, then it cannot be that you haven’t heard of COSMOS and SOLANA. Both have outperformed general predictions and expectations. While Solana was trading at only $3 at the beginning of the year, it rose to $215 this year and now is trading at a modest level of $180. Cosmos has seen a similar sentiment and has seen its all-time high of $44 this year in September. While both of them are fantastic currencies to stay invested in, for the time being, you may want to shift to Solana for a while to reap some of the benefits it has been giving off this year to its investors. If you are a crypto investor, then it cannot be that you haven’t heard of coin exchange, even if you are a newbie to the market. It is a straightforward procedure many investors and traders use to keep their holdings for a long time. They can also continue to get profits from their investments from other currencies’ growth. So if you are thinking of exchanging Cosmos to Solana, keep reading on.
Procedure to exchange Cosmos to Solana
The first important thing to keep in mind when exchanging coins is finding a safe and reliable exchange platform. Today, with the increasing number of investors in the crypto market, exchange platforms have also increased. But that does not necessarily guarantee a safe environment. Since, for most individuals, crypto investments are hard-earned money, the choice of such a platform should not be taken lightly. If you are looking for one such platform, then https://alligat0r.com/ is an excellent choice. It is a platform that shows live prices of all cryptocurrencies and their past performance graphs and uses its intelligent algorithm to search all exchange platforms to provide the best prices to exchange. Now that you know about the best platform to use for your exchange follow the simple procedure to exchange your coins.
- Select the cryptocurrencies that you want to exchange. In this scenario, it will be Cosmos and SOL.
- Then carefully input the address information where you want the coin to be deposited. Be very diligent in this process since a mistake can lead to divergence of the coin to a different address or wallet and can never be recovered again.
- Then, select the rate you want to exchange at. There are two kinds of rates: floating and fixed.
- Once that is done, you can check the number of coins you will receive on a successful transaction. Alligat0r gives this wonderful facility to its users.
- The final step would be to deposit the coins as payment and receive the coins at the desired address.
How can you get profit by exchanging Cosmos for SOL?
As is apparent with the procedure above, exchanging cryptocurrencies is not rocket science. So it should not be a surprise anymore that investors and traders are using the crypto exchange method to make money. You can even do it quickly and earn profits. So, for example, if you have $10 worth of Cosmos and the price goes down by $2. Now, if the price of Solana has gone up by $2 and you hold $10 worth of Solana, you can transfer coins of Cosmos to Solana and make a profit of $4. You just need to add the required zeros according to your investment, and you will get the entire idea. Once you get the hang of it, day trading and exchanging cryptocurrencies will be simultaneous for you. If you are diligent with your investments, you can surely turn in a net profit at the end. Another benefit of exchanging coins is you never transfer the money back to fiat currency, and you can keep holding your investments for a long time. It will guarantee that you never miss an opportunity to buy at a dip or utilize a bull run.