Both Monero and Bitcoin are digital currencies that provide some sort of privacy to their users. The main distinction is that whereas Bitcoin is open-source and decentralized, Monero is the market’s most anonymous cryptocurrency, being completely private and popular among users that prioritize privacy.
That’s actually why many want to swap their Bitcoins for Monero tokens. We are going to present you with some thoughts on which investment would be more profitable (using our BTC to XMR calculator).
Choose an Exchange Platform
The use of cryptocurrencies has skyrocketed. There will be more than 20,000 cryptocurrencies in use by 2024. If you are familiar with the cryptocurrency exchange market, you may know that some of the major players only provide a portion of this number for trading. Therefore, it would be wise to find a platform that provides its traders not only with trading pairs but also with a wide coin list and additional trading features.
Godex
Godex.io offers anonymous, secure, and quick cryptocurrency trades. It currently provides more than 300 coins. You do not need to register or provide personal information to make a transaction.
On Godex, there are no exchange volume restrictions — as many coins as you want can be swapped with ease.
The guaranteed fixed exchange rates on Godex.io are an additional advantage. Many exchanges earn on novice traders thanks to the price slippage. Godex.io promises that the price displayed corresponds to the amount paid.
Atomic Wallet
Atomic Wallet is a decentralized cryptocurrency wallet and trading app. It offers over 500 currencies and tokens in one place. The Atomic Swap decentralized exchange is the key component of the wallet.
It enables users to buy cryptocurrencies like Bitcoin, Monero, and Ethereum with their bank cards without using a centralized exchange.
LetsExchange
A well-known multi-currency exchange, LetsExchange, offers limitless free registration, simple operations, and swift, automated transactions. The website helps traders maximize every transaction by saving them time at every step.
Over 2,000 crypto are supported on the site, making 4.6 million trading pairs in total.
Calculate the Profit
Monero has twice come to the resistance level of ~$500 (in 2018 and 2021). Being its ATH, this price point is a strong mark that indicates the start of a bull run for this chart. The lowest point for XMR is $100. The chart bounced back from this level in June 2022. In case of falling deeper, the token may never return to its 2021 rate.
Bitcoin has one of the strongest positions on the market. In 2022, unlike many altcoins, the digital king has not only saved its 2020 price points but also managed to break the resistance level of $25,000. There is no doubt that BTC would outdo its 2021 price of $69,000.
Unsurprisingly, checking those charts (mainly the strength of BTC), investors increasingly look for ways to swap IOTA to BTC.
BTC Price Forecast
According to Priceprediction.net, Bitcoin will start its journey in 2025 by averaging $78,000. In 2028, the highest value for Bitcoin would be about $85,000.
Along with other cryptocurrencies, the price of Bitcoin tends to rise sharply in 2028 compared to the previous years.
XMR Price Prediction
DigitalCoinPrice expects Monero to trade at $326.14 in 2023. The specialists estimated that XMR might trade for an average price of $519.86 in 2025 and $1,601.61 in 2030, respectively.
The optimistic Wallet Investor XMR price forecast stated that the coin might reach $180.92 by early January 2024 and just under $303.34 in five years.
Is it Profitable to Exchange BTC for XMR?
Choosing between Bitcoin and Monero has no right or wrong answer, but knowing how they operate will help you make a more informed choice.
A trustworthy digital asset with substantial value growth in recent years is BTC. Bitcoin might be the best choice for you if you see cryptocurrencies as just another way to pay for goods or services without using the money in your bank account.
Consider Monero as a viable alternative currency if you place high importance on privacy and don’t mind taking extra steps to conduct international payments.
If you’re wondering about the current XRP price in CAD, you can visit this website and check out the xrp price cad page to stay updated while exploring how to convert BTC to XMR.