Some people are more interested in investing, while others are more focused on trading when it comes to cryptocurrency. Both have to know the specifics of each coin’s distribution and market performance for their activities to be profitable and useful. This guide contains the latest information about converting COTI to Ripple, explains the main features of each crypto, and offers directions to the exchange platform, in which you could work with these coins.
What is COTI?
Coti (COTI) is a decentralized cryptocurrency ranked #174 by CoinMarketCap.
The coin was created in 2017 with the ultimate aim of addressing the shortcomings of traditional cryptocurrencies. COTI is a cryptocurrency focused on bringing all the benefits of blockchain-enabled transactions to global micropayments.
COTI has a maximum supply of 2 billion COTI coins and a current circulating supply of 868 million COTI coins.
With an average 24 hour volume of $27m, the coin is widely traded.
COTI was designed to make crypto digital payments and transfers between accounts more fast & widespread. It offers instant transactions, stable value, and high scalability for micropayments and peer-to-peer (P2P) payments. COTI takes a non-duplicative approach, with no fees imposed.
It is the first native digital currency designed to support all types of payments, including e-commerce, P2P transfers, remittances, machine-to-machine transactions, and significant value transfers across sectors. The team behind the project aims to create a universal network for crypto transactions, specifically focused on retailers.
What is Ripple?
Ripple (XRP) is a cryptocurrency and assets platform that runs on the Ripple network.
It is currently ranked #8.
XRP was launched in 2012, and since then, it has grown in popularity. XRP investors trade with 47.62B tokens out of the 100B maximum supply. With an average market cap of $40B and a daily volume of $1.2B, it has consistently ranked in the Top 10 for almost ten years.
It works as a modern money system that supports cross-border fiat to crypto conversion on demand. Payment providers, banks, and digital asset exchanges can use XRP to reduce costs and offer better liquidity around the globe. Their service called On-Demand Liquidity successfully reduces delivery time for money transfers globally, which helps both large businesses and freelancers who want to receive payments in crypto. In this service, XRP becomes a connector between two cryptos a user’s trying to exchange, so there’s no need to pour money into funding the account of a receiver.
Transactions are processed almost instantaneously. The fast transaction time leads to reduced transaction costs.
With their speedy, costless, and scalable construction, XRP and Ripple are, like COTI, an alternative to conventional payment systems. Ripple created their coins to fit the global financial landscape as well.
How much XRP (XRP) is 1 COTI (COTI)?
As of today, 1 COTI = 0.431680 XRP (XRP). However, this rate changes regularly and should be checked before converting the coins.
There are many different ways to determine the conversion rates for various cryptocurrencies. Use digital sources and even spreadsheets of these rates on the Internet (such as CoinMarketCap) and, to dive deeper, try mobile apps for traders.
Many factors influence the market rate, from popularity to scarcity of the coin. Most exchanges offer up-to-date conversion rates based on the latest market transactions and can assist with establishing accurate rates for converting Coti to Ripple or any other token swap.
How to Swap COTI for XRP?
There are a few ways to swap COTI to XRP. The easiest and most popular way is to use the cryptocurrency exchange websites like https://godex.io/. These will convert your current currency into whichever coin you will be swapping and back again.
Check out our step by step guide below on how to use a cryptocurrency exchange website to swap from COTI to XRP:
- Ensure that you have the amount of COTI you wish to swap in your wallet.
- Go to https://godex.io/ and select the coins you want to swap. In this case, COTI to XRP.
- Put in the amount of COTI you wish to swap.
- You will put in your Ripple wallet address. Once you have done this, click on ‘Exchange.”
- On the next page, Godex will show an address to send your COTI.
- Once the exchange is conducted, the XRP will be sent to your imputed address at the set rate.
The process is simple and can be done as many times as you want with any coin you’d like to use — the service works with more than 300 cryptocurrencies. One significant benefit of this is that you won’t have to pay unnecessary fees when you swap from one token to another. Godex offers fixed rates for 30 minutes.
Taking All This into Account
Token-swap platforms are a hassle-free way for you to convert your cryptocurrencies. It’s not surprising that swap trends have surged under volatile market conditions. It’s even easier to spot trends since the swap data comes in real-time and allows users to judge whether they should get out of their investments while they still can or don’t do anything in hopes of gaining long-term value.
It is important for investors not to focus just on which coin is hot as past performance does not always align with future returns, though. They must consider which token offers the best return based on their investment strategies. It’s often best to stick to the plan you’ve initially devised.