Where to trade ETH and its possible forks after the merger? | bitcoinist.com

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One of the biggest events in the crypto world is approaching. Ethereum is finally about to undergo the merger after six years of hard work. The soft deadline is September 15, but may change due to the technical complexity of the process. The event is indeed significant, as it will upgrade the blockchain to a whole new level, bringing more scalability and security.

Naturally, some users are worried about their ETH holdings, but they have no reason for it. Funds will be safe during, before, and after the transition, and users will still see ETH tickers in their wallets. Another question is where to trade Ether and its possible forks after The Merge. Read on to find out.

What is Merger?

As already mentioned, The Merge is the biggest update in Ethereum history. This is essentially a transition from the proof-of-work mechanism to the proof-of-stake mechanism. The Mainnet, the current execution layer, will be integrated with the Beacon Chain, a new PoS consensus layer. After The Merge, the network will use staked ETH to confirm transactions, improving security and halting energy-intensive mining. In fact, this transition will reduce energy consumption by approximately 99.95%. This is going to bring a whole new philosophy to how the crypto space works.

What will happen after the merger?

Perhaps the most widespread concern of all ETH holders is what will happen to their ether coins after the merger. The answer is short and simple: nothing. Funds will not be affected in any way, and Ether will remain in users’ wallets as ETH. Beware of scammers who might want to take advantage of the possible confusion caused by the transition and offer gullible users to switch to a new ETH2 ticker. Such a token does not exist and is not expected to be released. The developers warn about this threat on their website:

The merger is expected to increase network scalability and increase staking rewards for holders, so the majority of the community supports it. Still, Ethereum miners doubt its effectiveness, arguing that the transition will devalue their operations by millions. Some enthusiasts are considering forking Ethereum and splitting it into a PoW blockchain and a PoS blockchain. In such a case, the new ETHW coin may appear. In response to such a possibility, many crypto projects have already announced that they will support Ethereum forks after The Merge. We have selected some of the most lucrative offers.

change now

ChangeNOW is a non-custodial crypto exchange platform operating since 2017. Since then, it has created a large ecosystem of convenient and lucrative products that benefit more than 3.5 million of its existing users. Indeed, ChangeNOW can satisfy the needs of any crypto user. Some of the most popular platform solutions are NOW Wallet, NOWPayments, NOWTracker, NOWNodes, and crypto loans.

Another benefit that makes ChangeNOW a one-stop-shop crypto platform is a large selection of supported assets. Currently, there are over 400 coins and 60 fiat currencies available, with more assets being added regularly. Users can trade, buy, and sell crypto using ChangeNOW’s web platform or Android and iOS apps.

It is important to note that ChangeNOW is the only platform reviewed here that does not require registration. After all, the main characteristics of the crypto space are privacy and anonymity.

The reliability of the platform is proven by the fact that it does not hold custody of its users’ private keys, so the funds remain safe on their devices. ChangeNOW is a responsible member of the crypto community that has contributed greatly to the creation of security conditions. Practicing a strict AML policy, the platform effectively fights scams and prevents major fraud. So far, he has recovered over $19 million worth of stolen crypto from hackers and scammers.

Reacting to The Merge, ChangeNOW released a statement, revealing its plans to support both ETH PoS and ETHW (in case it is released). The platform has assured its users that it is technically and operationally ready to execute ETH transactions. Additionally, all components of the NOW ecosystem will remain operational with respect to the upgraded ETH. In the event that the new ETHW token appears following a fork, the platform will list it among its assets. By the way, ChangeNOW already supports one of the Ethereum forks, ETC.

Gate.io

Gate.io is a crypto exchange platform that has been operating since 2013. It has an extensive ecosystem of products including GateToken, Wallet.io, and Gate NFT. Apart from cryptocurrencies, it offers its clients to trade derivatives, futures and options. Additionally, Gate.io provides a copy trading service that allows its users to copy the trades of top traders. Users must register to take advantage of this wide range of services.

On its website, Gate.io states that it will fully support the merger and transact assets on the forked chain after the potential Ethereum fork. Prior to the upgrade, Gate.io distributes ETHW, the potential forked token, to ETH holders while allowing ETHW trading in advance at a 1:1 ratio. It is also possible to replace ETHS and ETHW with ETH in the same report before the upgrade.

DigiFinex

DigiFinex is a cryptocurrency platform launched in 2017. It offers users to trade and trade over 300 coins. In addition to that, it supports crypto derivatives which allow margin trading. DigiFinex has developed its in-house DigiDeriv platform to enable perpetual swap trading. However, to use OTC services, users must create an account.

DigiFinex’s ecosystem includes the native DFT token, crypto lending, and asset management solutions. The trading process takes place on a website; there are no mobile apps available.

Regarding the merger, DigiFinex has announced its intention to fully support the upgrade and trade potential Ethereum forks. It goes one step further: DigiFinex already offers its customers to exchange their ETH for ETHS and ETHW in a ratio of 1:1. However, this option is only available for registered users.

Phemex

Phemex is a crypto trading and investment platform offering its users to buy cryptos with a bank card or trade leveraged derivatives. Additionally, 290 coins are available for spot trading. Phemex is a good choice for managing digital assets as it offers many solutions including Phemex Earn, Phemex Savings, and Phemex Launchpool. Additionally, Phemex offers a copy trading service that allows clients to follow top traders and automate the trading process. Registration is the only way to access all the services offered by Phemex.

Reacting to the upcoming merger, Phemex announced its intention to allow trading of ETHS/USDT and ETHW/USDT pairs. The platform launched the ETH 2.0 Swap promotional campaign. Similar to DigiFinex, Phemex allows its registered customers to trade ETH for ETHS and ETHW at a 1:1 ratio and with an option to swap the coins before the merger.

Conclusion

The merger is fast approaching and everyone in the crypto community is excited to hear what will happen next. Many crypto projects have started a countdown to this milestone in Ethereum’s history. It’s time to choose the platform that will help you make the most of this difficult but truly exciting transition. However, remember to do your own research before making your final choice.

Image by Miloslav Hamřík from Pixabay

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