Finding a reliable crypto exchange is important for an investor, and Godex fought hard to earn the trust of experienced and newbie traders. Among other things, this platform is the most reputable platform which enables you to exchange XMR for MATIC.
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So, how do you convert Monero to Polygon with this service? Here is a detailed guide that explains all steps on how to exchange XMR for MATIC. We'll guide you through the process!
How to Exchange XMR for MATIC
Before trading assets, it’s vital to learn about the currencies you are swapping. For example, reading GRT versus FET comparison will help with those coins, and the following paragraphs reveal more about Monero and Polygon!
What Is XMR?
Monero, or XMR, is a privacy-focused crypto coin that aims to maintain user anonymity during a transaction. Many other crypto assets, such as BTC, only offer pseudonymity, meaning transactions could be traced back to the sender.
With XMR transfers, the amount, sender, and receiver info are all hidden by default. Three primary privacy features are notable in Monero:
- RingCT. It stands for Ring Confidential Transactions and serves to hide the transfer amount.
- Ring Signatures. The idea is to mix the signatures of different group members, so it’s impossible to trace who approved the transaction.
- Stealth Addresses. These are one-time addresses made for each transfer. That ensures your private key isn’t visible to anyone since only a public address is displayed.
What Is MATIC?
MATIC is the native token of the Polygon network, although they shared the same name until 2021. Polygon is essentially a mixture of protocols aiming to enhance the Ethereum blockchain and improve scalability problems. With network congestion being a big problem, Polygon enters as an impressive solution since it increases transactions per second from around 10-20 to 65,000.
Polygon doesn’t compete with Ethereum but relies on it, and it’s actually a layer-2 blockchain. For the future, the network plans to link all blockchains compatible with EVM to ensure developers can reap the benefits of different networks with minimum trouble. MATIC is the native token used by Polygon for transaction fees, and it also gives voting rights.
The Godex Exchange Platform
Godex is a decentralized exchange that offers a user-friendly interface. Whether you download the mobile Android app or access the website via a portable or desktop device, you’ll love the simplicity offered.
You can execute trades in a few clicks, especially since there’s no need to sign up to initiate a conversion. Here are the top features offered by Godex:
- Anonymity. Incognito trades are Godex’s trademark, and that’s how the platform stays true to the original idea of the crypto industry. You’ll never have to register or provide personal info to trade on Godex.
- 300+ currencies. All the major players are there, ranging from BTC and ETH to XMR, MATIC, XRP, and others. Furthermore, you’ll also find many smaller and promising currencies that are true gems for investors.
- Fixed rates. Godex keeps the rate offered for 30 minutes since it’s aware that market volatility often ruins everything for the trader. This way, you are protected from any fluctuations during that time.
- No limits on trades. Regardless of how small or big the trading amount is, Godex will be there to execute the transaction. It’s also possible to perform as many transfers as you want daily or weekly.
Step-by-Step Process: Exchange XMR for MATIC
Here’s a detailed explanation of how to exchange XMR for MATIC effortlessly using Godex:
- Head to the Godex exchange. You can pick the tokens immediately. Place XMR in the “You Send” field and MATIC in the “You Get” field.
- Check the rate. Once you enter the amount, you’ll see the offered rate. If you are okay with it, click on Exchange to go to the next screen.
- Enter the necessary details. These include the desired Polygon address and the type of network to receive tokens from, including BSC, ETH, or MATIC. Hit Exchange to Proceed.
- Send XMR coins to the deposit address. It will be generated in a few seconds — you can copy it or scan the QR code. The rate remains fixed for 30 minutes.
- Automatic confirmation. The page will automatically show when the tokens are in the wallet. Be patient until the transaction is completed, and you’ll see the exchange confirming the trade is done.
Making Your Trade Swiftly and Securely
In the crypto market, making timely decisions is crucial for making maximum profit from the trades. You also need to count on the exchange to finalize the conversion quickly and keep the rates fixed to avoid any price fluctuations.
That’s exactly what Godex offers, making it an excellent choice for all your crypto trading endeavors in the future!