Should You Consider Exchanging Your ETH for IOTA?
Like Bitcoin, ETH’s price has dropped significantly recently, making many Ethereum owners seek an alternative. For plenty of traders, this was a unique opportunity to swap ETH to BTC and obtain digital gold at a low price. However, many also wanted to buy less popular altcoins.
IOTA happened to be the logical choice for many traders, which is why many wanted to swap ETH to IOTA. If you’re one of them, read our guide first to learn more.
What Do We Know About IOTA?
IOTA is a popular cryptocurrency, currently ranked #57 based on its Coinmarketcap, and it’s much different compared to many other digital currencies, so let’s see why.
New Possibilities Made Possible with IOTA
IOTA isn’t a blockchain. It’s based on proprietary technology dubbed Tangle, which is a system of nodes that are used for confirming transactions. Because of that, it is fast and convenient, especially in the world of the Internet of Things — a sphere that has been expanding a lot lately. There are already many IOTA-related projects concerning digital identity, smart cities, industrial IoT, global trade and supply chains, mobility, and more.
IOTA Advantages
There are many advantages that IOTA brings to the table. When summarized, it comes down to the following perks:
- No transaction fees.
- IOTA is a highly scalable platform — no bottlenecks related to protocols.
- Micropayments are possible thanks to the absence of fees.
- No harmful mining — IOTA is not a blockchain, so no PoW and no blocks.
IOTA Price Forecast
Based on several different IOTA price predictions, the popular project and its cryptocurrency seem to have a bright future simply because IOTA is unique and built on a completely different technology. Moreover, due to the fact that it’s mainly aimed to become the main coin for the Internet of Things, IOTA will have many practical applications.
IOTA’s all-time high was $5.36, but many experts believe it will reach new heights in the upcoming years. As for the nearest future, TradingBeasts believe IOTA will cost $0.5 in 2025, which is over a 60% increase.
What Is Happening with Ether in 2022
Since it was launched, Ethereum has been the second most popular cryptocurrency in the world after Bitcoin, and that hasn’t changed. Despite being powerful, its price fluctuations also closely follow BTC’s price fluctuations, meaning Ethereum underwent a huge dip in price in June 2022, when the price dropped to less than $900 per one ETH. At the start of the year, ETH was more than $3,800.
Is there anything particularly bad happening with Ethereum at the moment? On the contrary, Ethereum is doing pretty well, and its price drop is mainly caused by the overall drop that happened to the entire crypto market caused by various reasons. Ethereum as a platform is actually doing great, as developers are actively working on bringing Ethereum 2.0 closer. The new Ethereum platform will completely switch from the Proof-of-Work to the Proof-of-Stake consensus mechanism and add various new features that should help the platform and its users.
ETH Price Forecast
There’s a positive sentiment around Ethereum’s future simply because it’s the second most popular crypto with a huge community surrounding it. Millions of people actively use the network for much more than just trading cryptocurrencies, and ETH has laid the foundations for what will become Web3 at one point. Therefore, it’s safe to say that the price will increase in the future. For example, TradingBeasts think that it will cross the $2,000 mark in 2025, which is a 60% growth. Of course, ETH isn’t a stablecoin, so fluctuations are bound to happen all the time.
Is an ETH/IOTA Exchange a Good Idea?
As you can see, both Ethereum and IOTA are doing well. Truth be told, Ethereum is a safer investment at the moment as it’s more popular. However, if you examine all the projects related to IOTA, you’ll see that it’s actually a great network and a good investment opportunity.
We won’t tell you whether to exchange your ETH for IOTA or vice versa. Instead, we’re going to encourage you to research this further and learn more about cryptocurrencies from reputable sources but also various forums and other online communities.
One thing is for certain — if you do decide to swap ETH or BTC to IOTA, it’s important to find the best possible cryptocurrency exchange for that, and we recommend that you use Godex — a decentralized and anonymous service with no upper limit on how much you can trade.