Elrond is a blockchain platform that provides unprecedented scalability, a high level of decentralization and speed. In this article, we will consider what innovative technologies allow Elrond to achieve such success, why it is worth to trade EGLD, and what platforms can be used for trading, exchange, and fiat purchases.
What is Elrond (EGLD)?
Elrond is a blockchain platform that has the following key characteristics: a high indicator of scalability, privacy, security, as well as bandwidth. The development team has set a goal to build a decentralized platform that can compete with centralized ones in terms of a high level of performance. In addition, it is assumed that users will have a high level of privacy.
Elrond implemented the Adaptive State Sharding architecture to increase the bandwidth of the network. There are three types of sharding: Network sharding, Transaction sharding, and State sharding. Thanks to this technology, the platform can adapt to the increase or decrease of nodes without harming decentralization, security, and performance. The platform is functioning on the basis of the Secure Proof of Stake (SPoS) algorithm that supports a high level of network security. Elrond network is able to process an average of 15,000 TPS, with an average transaction delay of 5 seconds and minimal fees of $0.001. Elrond developers also strive to ensure cross-chain interoperability.
Why should I exchange Elrond?
Definitely at the moment, buying EGLD is the best investment of your funds, since:
- Thanks to its unique architecture the network ensures high speed and scalability that other projects do not have. The characteristics of Elrond have already been evaluated by many reputable investors and users of the platform. This significantly affected the capitalization of the project. Despite its youth, the project is already included in the TOP50 cryptocurrencies.
- The coin shows excellent growth and has risen in price by more than 2000% since 2020. According to the forecast of DigitalCoin, the EGLD price will reach about $200 by the end of 2021.
As of August 19, 2021, the EGLD price is $139.66. The project’s market capitalization is $2,700,902,381. The minimum price of $6.80 was reached on October 20, 2020. The maximum price on April 12, 2021 reached $245.56.
How much EGLD will be worth?
As the analytical review of Wallet Investor shows, EGLD is a rather promising crypto asset with 4x growth potential within 5 years.
For example, $100 invested in EGLD in 2021 might become $442 in 2026.
At the same time we encourage our readers to do their own research, as far as the information given above is not a financial advice.
Where to trade Elrond?
EGLD cryptocurrency has already been listed on the most reputable crypto exchanges and brokers. The list of reliable services includes:
- Binance – an advanced crypto exchange that is ideal for convenient trading by experienced users, as it provides an entire ecosystem of services.
Daily withdrawal limit: no more than 0.06 BTC for verified users.
- FTX – an exchange is ideal for trading derivatives, verification is required for operation.
Daily withdrawal limit: no more than 0 BTC for verified users.
- 7b crypto broker – the platform is ideal for inexperienced traders, as it provides intermediary services. The fees are among the lowest.
Daily withdrawal limit: no more than 2 BTC for unverified users.
How to trade Elrond using the 7b crypto broker app?
The 7b crypto broker provides traders with a user-friendly interface for comfortable trading of more than 350 coins. You can track the current rate of the cryptocurrency you are interested in by opening the 7b application. And in order to trade EGLD, only few clicks are required:
- Open the 7b crypto broker app on your smartphone.
- Check the balance, top it up if necessary.
- Enter EGLD in the search bar.
- Select a trading pair.
- Specify how many coins you would like to buy or sell.
- Confirm the transaction.
Elrond Exchange
Where to exchange EGLD?
You can convert a coin into another cryptocurrency using instant cryptocurrency exchange services or via crypto brokers. Our brief review will help you make your choice easier:
Broker:
| Pros | Cons |
| Provides a secure exchange | Relatively high commission |
| Unlimited exchange | |
| A long list of coins and exchange pairs |
Instant exchange:
| Pros | Cons |
| High level of anonymity | Limited list of coins and exchange pairs |
| Floating and fixed rates | |
| Does not store your funds |
The list of the most reliable instant exchangers includes:
- SimpleSwap – a platform is intuitively simple, in addition, it provides an Affiliate Program. 300 crypto assets are available.
Fees are included into the transaction estimate.
- StealthEX – a platform focused on providing privacy. More than 350 coins in the list.
Fees are included into the transaction estimate.
- LetsExchange – a platform provides instant exchange without limits. Supports more than 200 cryptocurrencies.
Fees are included into the transaction estimate.
What to know before exchanging Elrond?
Before exchanging one coin for another, you should choose the best platform. In order to make the right choice we recommend you to:
- Take time to check the reliability and reviews among users.
- In the FAQ section, find out the fee charged by each of the services and choose the most profitable offer.
- Carefully study the list of supported cryptocurrencies. It happens that a coin is included in the list, but its exchange is not available yet.
- The most important recommendation is to double-check the wallet address. If you make a mistake, your coins will simply sink into oblivion.
How to buy Elrond for fiat?
An investor who has decided to invest fiat funds in the purchase of EGLD will not have to suffer from the lack of such an opportunity. Despite the youth of the project, it is already available for direct purchase for fiat through platforms with support for the fiat gateway. One of these platforms is Changelly, where the user just needs to:
- Select the currencies to exchange.
- Enter how much fiat currency you want to invest.
- Choose a fiat provider (MoonPay or Indacoin).
- Enter your EGLD wallet address.
- Confirm the transaction on the website of the selected provider.
Elrond use cases
EGLD is a kind of fuel to the Elrond network:
- EGLD holders can participate in the development by voting. They can also receive rewards.
- EGLD is used to pay the fees for the transactions in the network.
- With the help of EGLD cryptocurrency, users can pay for the building of smart contracts.
- EGLD token is also used as a mean of remuneration for validators who ensure the operation of the network.
FAQ
Is Elrond a good investment?
Yes, at the moment, the Elrond project stands out qualitatively among competitors, which is confirmed by the support of well-known investors. The price of the EGLD cryptocurrency is steadily growing and in just a year the token has risen in price by 2000%. In addition, according to analysts’ forecasts, the price will continue to grow.
How do I invest in Elrond?
When investing in cryptocurrency, make sure that you do not need the invested funds urgently. Since the market is volatile, the exchange rate may fall at the wrong time for you and you will suffer losses. Use 7b to buy a coin: deposit a crypto asset for trading, select a coin from the list, enter the desired amount, and confirm the purchase.
How to trade EGLD for beginners?
Carefully observe the movement of the market. As soon as positive values are reached, set a stop at the market entry level. This will protect the invested funds. Trading through the 7b broker is easier than ever: transfer cryptocurrency to your account, select a trading pair, enter how much you want to buy or sell, and confirm the transaction.
What is Elrond Blockchain?
Elrond is a blockchain project that seeks to achieve a balance between decentralization and security. The platform’s architecture includes Adaptive State Sharding Technology and the unique Secure Proof of Stake algorithm. The network is capable of processing more than 15,000 TPS with a 5-second delay and minimal fees.
How safe is Elrond?
The native coin of Elrond – EGLD, is an absolutely safe asset, both suitable for long-term and short-term investments. The guarantee of EGLD security also comes from the platforms listed it – Binance, Gate.io, 7b.
How do I exchange Ethereum to Elrond?
Step 1. Log in to your crypto exchange account
Step 2. Search EGLD/ETH exchange pair
Step 3. Enter the necessary amount of EGLD
Step 4. Confirm the exchange operation
Step 5. Receive EGLD
How do I invest in Elrond?
To invest in Elrond (EGLD) one should first exchange fiat money on EGLD. The operation can be made via an exchange or swap platforms. Afterwards the sum should be sent either to wallet or a broker account.
