Instant exchange, the start of a cryptocurrency adventure (15/05/2018)
I’m curious, how many have seen what seem like crazy ideas such as bitcoin hitting £100k per coin and market cap hitting 100tn!!! I thought I’m mad enough to put my money to their ideas. Ok let’s be a little more candid, I really think this is the technology of the future and I want to start with an instant exchange. Even if I’m putting money into the ask Jeeves, MSN, or BEBO of this industry, I want to see this industry develop in the long term. Looking at an instant exchange seems like a good place to start.
I am starting this blog to share my adventure. I’ve followed different currencies for a while now, and am ready to buy coins. To start off, I wanted to compare two places that offer instant exchange to convert coins once I buy. This is probably where I will start once I’ve bought.
The table below is Flyp.me and Shapeshift with the features that I personally value which are both instant exchange.
Number of crypto currencies available today
Total market cap of included currencies (12.05.2018)
63% of total
80% of total
Instant Exchange one Bitcoin -> Ethereum
Instant Exchange one Bitcoin -> Ripple
Instant Exchange one Bitcoin -> Bitcoin Cash
Instant Exchange one Bitcoin -> EOS
Instant Exchange one Bitcoin -> Litecoin
24 Hour Statistics
*All data obtained between 4-5pm GMT 12/05/2018
The bit that jumps out is that the trading volume is huge through Shapeshift (866 bitcoin per day) and manages to cover 80% of the market cap through 44 currencies. The statistic i didn’t include is the percent market cap covered per currency included. Flyp.me covers 2.8% per currency, as opposed to Shapeshift which has a lot of lower market cap currencies and accounts for 1.8% per currency. I realise that this could be biased as if you only include Bitcoin, you’re onto a winner, but still an interesting statistic between both that offer instant exchange.
The other point I have to make is that every comparison that I did, indicated that you will get a cheaper rate on Flyp.me. Both are an instant exchange however flyp.me profit share through an ethereum token.
So let me go back to the purpose of this blog, I have some questions for you. What do you see as valuable in a cryptocurrency and would you suggest as an investment and why? Would you convert with an instant exchange? Next time, I’ll also compare some cryptocurrencies, invest, and share my running portfolio.
I am not a professional trader, the information above is not trading advice, and please do further research if you are considering investing. I like to be upfront and honest about what I’m doing. This article is intended to earn ethereum tokens part of Flyp.me’s writer program and I need to do an unbiased comparison using the term instant exchange a lot!