Vitalik Buterin, the creator of Ethereum (ETH), thought Bitcoin’s blockchain was a perfect concept, but it could be improved. This is how the second most famous crypto emerged in 2013. In their turn, the creators of Komodo (KMD) promised to combine the security of Bitcoin and the privacy of Zchash.
Depending on your preferences, you may need to trade your ETH to KMD or vice versa. But first, learn more about these cryptos and a place to conduct the exchange safely.
What’s Going on With Ethereum in 2022?
Even after several crypto market crashes, Ethereum remains the second-largest crypto after BTC. Its price is about $2,000, and its market capitalization is about $250 billion as of May 2022. Ethereum has 10 million users around the globe, and this number is getting bigger.
Such a tendency reflects the trust of inventors in Ethereum. Investors believe in this crypto because it has a real-life utility and long history in the market. The thing is that there is a decentralized software platform behind the ETH. This platform supports smart contracts that empower DeFi applications.
Also, Ethereum has already started its transition from PoW to a PoS consensus system that will be completed by June 2022. It will make ETH more environment-friendly and more secure to use.
What’s Going on With Komodo in 2022?
Komodo was launched in 2017 as a decentralized open-source blockchain with a native coin (KMD). Its price is about $0.24, and its market capitalization is about $30 million as of May 2022.
Komodo’s blockchain is a fork of Zcash, which gives Komodo some advantages. For example, KMD works under the same zero-knowledge policy, meaning that it does not reveal users’ data. At the same time, Komodo offers a comparatively high level of security.
This successful combination of anonymity and security was achieved by implementing a delayed Proof-of-Work (dPoW) consensus protocol. Under such protocol, Komodo’s blockchain is using the regular Proof-of-Work model which is attached to a primary one (the blockchain of Bitcoin in this case). Consequently, KMD can guarantee the same level of safety as BTC, and the primary blockchain takes advantage of the hashing power of KMD.
Benefits of Exchanging Ethereum for Komodo
Komodo still has a much lower market capitalization and is much cheaper than Ethereum. But it does not mean that KMD is less secure or has no real-life utility. Here are a few advantages of getting KMD instead of ETH:
- Komodo is more volatile.
KMD is known for significant price fluctuations, which can benefit short-term traders. It is better to use a fast and reliable platform, such as Godex, for trading this asset instantly.
- Limited coin supply.
No more than 200 million KMD can be mined, whereas ETH has an unlimited supply. Since the price almost always surges once the limit is reached, KMD can benefit long-term traders as well.
- Komodo is cheaper to use.
Komodo has one of the lowest transaction and withdrawal fees on the market, while Ethereum gas fees fluctuate and can be comparatively high.
It seems that traders and investors should not underestimate Komodo.
How to Use Godex to Exchange Crypto Hassle-Free?
If you decide to swap ETH to KMD, you will need a reliable exchange. Which platform is worth selecting out of nearly 600 that exist? In case you are looking for secure and limitless transactions with low fees and attractive rates — Godex must be your choice. Here is a step-by-step guide on how to swap ETH to KMD on this anonymous crypto exchange platform:
- Go to the main page of the Godex platform.
- Select ETH in the “You Send” field and tap the amount of ETH you want to exchange.
- Choose KMD in the “You Get” field.
- After that, the system will automatically show you how many KMD you will get for ETH.
- Hit the exchange button and provide your wallet address.
- Send ETH to the provided system wallet address.
- Receive KMD.
Note that you can cancel the transaction anytime up to the 6th step.
Ethereum is one of the most popular cryptocurrencies on the market, with a high capitalization and liquidity. At the same time, Komodo is much cheaper in use and can benefit traders.
Before trading them, you should consider selecting the right exchange platform. Anonymity, reliability, low trading fees, fixed rates, and high security should be your core measures.