Ravencoin’s (RVN) price has decreased by almost 50% in the last month. This and the substantial growth of the trading volume are the signs that RVN miners and holders become a bit concerned about the coin’s future. When Ethereum (ETH) announced that it’s pushing the new Ethereum 2.0 upgrade in June 2022, it gave more time for everyone to get on board.
Ravencoin is an open-source peer-to-peer crypto platform that was developed for transferring assets. RVN is a fork of Bitcoin launched in January 2018. It means that their codebases are similar, and the PoW consensus allows for mining these coins. Ethereum is also utilizing PoW, but Ravencoin’s and Ethereum’s similarities seem to end there.
Ethereum has a better potential since it’s not just a cryptocurrency — it’s an ecosystem that works on a blockchain and has all of its advantages, such as decentralization and smart contracts.
If we talk about the future, Ethereum is likely to progress. It’s because over 200 people are constantly working on its improvement. The new Ethereum 2.0 upgrade will introduce new key features:
- Sharding. Ethereum will be divided into 64 separate “Shards” — new chains that will operate simultaneously. It will radically enhance productivity.
- Staking. Ethereum will switch to the PoS consensus. It will make the maintenance of the network more energy-efficient.
The new Ethereum upgrade will drastically change the current crypto industry. One thing is for sure — you don’t want to miss the opportunity to get it before the upgrade.
Let’s dive deeper into the RVN to ETH exchange process.
How to Convert RVN to ETH Coins
Firstly, find a reliable RVN to ETH calculator. A good calculator analyzes coins’ prices in real-time and shows you the exact amount of tokens you will receive. Godex’s calculator takes into account RVN and ETH prices and transaction fees. Then, it will display how many ETH tokens you will get based on the number of RVN coins you entered in the “You Send” field.
Secondly, get a wallet that supports both coins. The best options would be non-custodial wallets (Atomic or Trust) and hardware wallets (Ledger and MetaMask). With those options, you will have complete control of your private keys, and your assets will be stored in a secure place.
Lastly, you should find a fast and safe exchange. Most services will require you to complete a registration to start swapping coins. This means undergoing the ID verification procedure and giving away your personal info. Fortunately, there are decentralized platforms like Godex that respect the privacy and safety of its clients. They free its customers from any checks and provide a chance to swap coins anonymously.
RVN to ETH Exchange Benefits
The majority of platforms don’t have an RVN to ETH exchange pair. If you want to swap RVN tokens to ETH, you should try Godex.
With Godex, you can swiftly and anonymously exchange RVN and 300 other digital assets. Stop worrying about your privacy and trade online without intermediaries. The process takes from 5 to 30 minutes.
By trading your RVN for ETH, you can avoid losing funds in the upcoming year. Sources like PricePrediction.net and TreadingBeasts.com provide grim statistics about RVN price. Both sources predict a gradual RVN price decrease in 2023, dropping to as low as $0.12 per token. Check out RVN price prediction 2025 if you want to know Ravencoin’s worth by 2025.
How to Compare RVN to ETH?
| Main Characteristics | Ravencoin (RVN) | Ethereum (ETH) |
| Date of creation | 2018 | 2015 |
| Structure | Digital P2P network | Decentralized, open-source blockchain platform with smart contracts |
| Timestamping scheme | Proof-of-Work | Proof-of-Work |
| Average transaction cost | $0.000081 | ~$5 |
| Block time | 1 minute | 10-20 seconds |
| Circulating supply | 10,35B | 118,8M |
| Supply limit | 21B | unlimited (at the moment) |
RVN trading volume for the last 24 hours is $27,911,786, and the market cap is $820,263,187. On the other hand, ETH has a market cap that is almost 550x larger ($453,123,688,013) than RVN’s, and its 24-hour trading volume is $18,141,492,573. As an index of a coin’s relevance, you can also pay attention to other parameters like consensus mechanisms, token transaction fees, and liquidity on the market.
You can use your hardware to mine RVN and ETH. However, Ethereum will turn to the PoS consensus when its 2.0 update arrives. It means you will be able to earn a certain percentage of ETH simply by staking it in your wallet. The more you will have, the more you will earn.
Can you buy Ethereum with Ravencoin?
You can exchange Ravencoin for Ethereum by selling RVN on a cryptocurrency exchange for ETH. Ravencoin is currently available on 43 different exchanges. Binance Futures is the best way to convert RVN to ETH.
How Do I Withdraw My RVN?
Follow these steps to cashout RVN
- Go to your Wallet and press the Withdraw button.
- In the “Withdraw from” field, select the RVN wallet.
- Choose an existing withdrawal address
- Enter the amount of RVN to be withdrawn.
- Select the Review Withdrawal button.
- A confirmation window will appear.
Can I Trade Ravencoin on Binance?
RVN can be purchased using a debit or credit card directly from Binance. On the Binance exchange, it can also be exchanged for other cryptocurrencies.
What Companies Accept Ravencoin?
Ravencoin can be used to make purchases at large stores such as Crypto Posters, H-Town Donuts, Estate 88 Coffee, Vinsent Wine, Iozeta, etc.
To Sum Up
Ravencoin is a decent cryptocurrency for mining. However, it can’t compete with crypto giants like Ethereum. When it comes to long-term investments, it’s safe to say that ETH is the coin with greater potential. Since the Ethereum update is around the corner, it’s a chance for you to multiply your wealth by exchanging RVN tokens for ETH.
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