With prices moving again, many investors will be considering how to rebalance their portfolios. However, for absolute novices in the industry, the issue is less about percentage allocations and more about how to actually swap one asset for another.
In this short article, we detail one of the fastest and safest places to do just that – Godex.io!
Diversify Your Investments!
If you’re sitting on a pile of ETH that’s gone up a lot in value this year, you might be considering diversifying. Diversification is important in investing since your portfolio’s overall performance will not be dependent on the price of a single asset.
In cryptocurrency, diversification might involve investing in a digital currency that serves a very different purpose to the one you already have exposure to. In this article, we consider diversifying from ETH to LTC. The Ethereum network is a smart contract platform and Litecoin is more optimized for payments. One makes a reasonable hedge compared to the other.
Although cryptocurrency prices often move in tandem with one another, diversification of ETH LTC will help to protect the value of your investments in the case of a catastrophic failure of the Ethereum network. Given the scale of the forthcoming update to Ethereum on the cards, this might not be such a bad idea!
Why Choose Godex.io?
Godex.io provides a user-friendly and intuitive way to trade digital currencies. It doesn’t request having accounts meaning that users don’t need to sign up or submit any proof of identity. For users that value their financial privacy, this is a serious advantage.
However, Godex.io has a lot else going for it. Check out some of the exchange’s other selling points below:
- A reputable platform that’s widely reviewed on TrustPilot. Real users vouch for the trustworthiness of Godex.io.
- You can diversify your investments into any one of more than 200 different crypto assets.
- The platform operates without limits on exchanges.
- It’s completely anonymous – there’s no need to reveal your identity.
- Exchange rate lock-ins prevent price moves that can impact trades.
How to Use Godex to Swap ETH to LTC
We’ve detailed below exactly how to use Godex.io to swap between ETH and LTC. Of course, the same guidelines can be applied to any other trading pair on the platform. As you’re about to find out, trading on Godex.io is very, very easy!
1. Enter www.Godex.io in your browser.
2. On the home page, click the cryptocurrency in the “You Send” field.
3. Type or scroll down to “ETH” to select Ether as the currency you wish to trade for Litecoin.
4. In the “You Get” field, scroll down or type “LTC” and select Litecoin.
5. In “You Send”, enter the number of ETH you wish to exchange for Litecoin. This should update the “You Get” field with the number of LTC you’ll receive.
6. When prompted, enter the LTC public address that you want to receive your Litecoin at. You can find this in your LTC wallet.
7. Copy the Ethereum deposit address Godex.io creates for you and paste it into your Ethereum wallet. Enter the number of ETH you entered at the exchange too and initiate the transaction.
8. Wait for the transaction to confirm and you should receive your Litecoin following network confirmations.
There you have it! As we stated earlier, it’s really easy to diversify your holdings using Godex.io. The lack of KYC or AML checks makes it one of the quickest and simplest ways to exchange one crypto for another. Now, cross your fingers and hope that your diversification play pays off!