How to swap AVAX to another Cryptocurrencies?

17th January 2022

Today, the number of cryptocurrencies exceeds the number of sovereign fiat currencies by several orders of magnitude.

The booming world of the crypto industry is faced with the problem of digital asset fragmentation. The developers of the Avalanche project have set themselves the goal of creating a single financial market where it will be possible to freely conduct transactions with crypto assets.

Features of the Avalanche project

The Avalanche network was launched in September 2020. It is designed to launch programs for decentralized finance, trading, financial assets and smart contracts. It is planned that over time, Avalanche will become something like a global asset exchange, where any user can trade any assets and create their own.

As the number of users increased, existing blockchains faced scalability issues. The low speed of transaction processing is already creating tangible difficulties and over time it only gets worse.

Avalanche is one of the fastest-performing blockchain platforms. The system is capable of processing about 4.5 thousand transactions per second.

In addition to digital currencies, the platform supports non-fungible tokens. In addition to trading and exchange, a P2P lending platform is available to Avalanche users.

Thanks to the AVA Consensus Network, decentralized applications and custom networks with custom infrastructure can be created.

Functionally, Avalanche resembles Ethereum, but offers more opportunities to form a barrier-free digital asset market. Unlike its main competitor, Avalanche was originally created on the basis of a less energy-intensive PoS algorithm.

Several projects have already been created on the basis of Avalanche, in particular, Pangolin DEX – a decentralized cryptocurrency exchange.

Cryptocurrency Avalanche (AVAX)

The network is based on the PoS algorithm. This algorithm consumes less power compared to PoW and provides more network bandwidth.

Staking is used instead of mining in the AVAX network. The coin serves for mutual settlements between network users, is used to pay rewards for ensuring network security. Like any other cryptocurrency, AVAX can be used for trading and investing.

Despite the youth of the project, the coin is already in the TOP-20 of the largest cryptocurrencies and is available on many major exchanges. On Binance, Huobi Global, and other AVAX platforms, you can exchange for other cryptocurrencies and fiat money.

How to change AVAX

If you are not yet registered on the site where the AVAX swap is available, you can proceed in two ways:

  • Register on a centralized cryptocurrency exchange.
  • Use the services of the instant exchange service.

Account registration is required on traditional exchanges. Since reputable sites are required to comply with KYC and AML, after registering an account, in most cases, identity verification is required. To do this, you will need at least a photo of an identity card or other document.

After completing the necessary formalities, you can start working. The algorithm of actions on all exchanges is the same:

  • Replenish your deposit.
  • Select the cryptocurrency pair you need and create an order. It can be either an instant trade or a pending order at a predetermined price.
  • After the order is executed, withdraw the coins to an external cryptocurrency wallet.

If it is important for you to exchange AVAX as quickly and anonymously as possible, your choice is LetsExchange. Unlike traditional cryptocurrency exchanges, there is no need to create an account here. All your actions are limited to filling out the exchange widget:

  • In the upper field, select AVAX and enter the amount of coins to be sold.
  • In the bottom field, select a coin to buy. Recalculation at the current rate will be automatically performed by the built-in calculator.
  • Indicate the wallet address for crediting the purchased coins.
  • Make a deposit.
  • Press the button “Exchange”.

The Smart Rate system automatically finds and analyzes the available offers. As a result, the system will offer you the best deal, and after confirming the application, the transaction will be completed, and the coins will be credited to your wallet.

The AVAX exchange with LetsExchange is very simple, fast and completely anonymous.