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Importance of Liquidating Your Crypto Quickly for Miners
As a crypto miner, it’s extremely important to possess the capability of liquidating or swapping your crypto into a different type of coin rapidly. This proves critical especially currently when profitability is at a low ebb and the journey as a crypto miner is undeniably tough.
An Introduction to SimpleSwap.IO
Over time I stumbled upon a website, simpleswap.io,that has been instrumental in aiding my fellow miners in the crypto mining scene and myself. Its primary function is the exchange of various types of crypto. For instance, it enables you to send your mined crypto and swap it for another more suitable kind. With CoinBase as my preferred tool to liquidate to USD, I was in dire need for an alternative that supported all the crypto I mine, since CoinBase does not. SimpleSwap.IO filled this gap perfectly.
How Does SimpleSwap.IO Work?
SimpleSwap.IO is user-friendly and thus anyone can easily use it. This attribute has attracted many of my fellow crypto miners to its services. With SimpleSwap.IO, you can swiftly get the coins you need when you need them, making it truly a great tool for managing assets in the crypto mining world. In essence, as its name suggests SimpleSwap.IO indulges in the swapping or exchanging of almost all types of crypto.
Swapping Flux and Ergo
In this guide, we will delve into the specifics of swapping or exchanging two main coins, Flux and Ergo. However, it’s advisable to engage in independent research and explore the website yourself for other coins you might be interested in.
Firstly, you have to decide the coin you’re looking to swap, such as Flux or Ergo. And then, select the coin you wish to get in return, such as Btc. There are minimum and maximum thresholds and transaction fees that one should keep in mind and abide by. These details are clearly displayed on the website for your disposal.
Step by Step Guide to Using SimpleSwap.IO
Let’s use Flux for this demonstration, but the procedure is the same for Ergo. After entering the amount of Flux you want to deposit, you’ll be asked to enter your Bitcoin wallet address where the funds will be sent to after the liquidation process.
Once the details are filled in, SimpleSwap.IO will create an individual exchange for you. This will detail information on where the deposit is to be sent to, the amount being sent, and what’s going to be received in return.
The site patiently waits for your deposit. When the deposit is confirmed in the network, you’ll receive the Bitcoin you swapped for in the wallet address you provided.
Benefits and Concluding Thoughts on SimpleSwap.IO
From my experience, using SimpleSwap.IO has been an intuitive and seamless process. In about half an hour’s time, I successfully traded my Flux for Bitcoin, which was now ready to be transferred to CoinBase for cash out.
Moreover, SimpleSwap.IO becomes quite handy when you need to acquire specific coins like Tron, Solana or Kadena, where options are pretty limited on platforms like ZellCore.
In conclusion, in order to stay profitable and have a swift response to the ever-changing bubble-like crypto market, a tool like SimpleSwap.IO is crucial for miners. Therefore, I would highly recommend all miners out there to check it out themselves and weigh in their experience. After all, as it is with any investment, the golden rule is to do your research thoroughly.
Lastly, stay tuned to my channel for more such informative videos and how-to-guides to help you navigate wisely in the crypto world.
Have you or Are you Selling Off Crypto Right Now to Cover Expenses?
I tried to swap ergo to solana or any other coins i get a message saying transaction refused by ergo network, what does that mean and how to solve the issue in zelcore wallet. Help appreciated thanks
I had a problem and they where really helpfull.
Brilliant! Everytime I need a tutorial of some kind your channel pops up right away! 🙂 Love it! Thanks for yet another helpful video!
Simple and useful video today …. thanks
Good tool 👍
I checked uniswap vs simpleswap with usdt to pre. Simpleswap gave me 13100 pre for 1000 usdt. Uniswap gave me 13953 for 1000 usdt
you should change your intro ….
@the hobbyist miner I have a question about cumulus and nimbus node (Nimbus to expensive for me 12.500flux) . I have a pc that I don't using it. And That pc have minimum specs of cumulus node. I look at the apr of cumulus and says %12 apr. and staking gives me %8.5 in a year. and I'm thinking electric cost money to run a node. I think it's equal. Should I run or not ? what you think and prefer to me. ( Electric cost 0.15$ for me )
Do You know any place we can buy ERG from USD ? I can't find any…
Thank you so much for this video. I needed something like this for the longest time.
Can you have it just pay straight to coinbase or do you need the zelcore wallet?
Great timing. Opened KuCoin yesterday so I can manage FLUX and ERG. Will add simpleswap to my bag of tricks. Scaled down to 6 gpus to leverage my most efficient cards. That's an operating cost I don't mind carrying the next year or so. Mining FLUX and RVN now, but hope to add ERG to that rig (Hive) soon. Gonna stack at a loss just to keep my skills up, and 'cause I love mining. Thanks for helpful content. Still a little soft from my eth diet.
Sorry if I missed this during the video.. But is swapping like this a taxable event in the USA..? If so how is that managed ?
Love the videos, keep them coming, we need them! specially in times like these. Btw any difference/preference between Zelcore vs Exodus wallet?
How is their fee structure looking? Is cucoin cheaper or more expensive?
THM awesome content, I like so simple this is, I also noticed it first said you would get .00134 and you end up getting .00140 very nice.
1st! Great video man! Keep up the hard work