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How to Convert DGB to ETH

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Did you know that the DigiByte blockchain has the capacity to create a block every 15 seconds? In comparison, Bitcoin’s block time is ten whole minutes. However, as advertised as it is for its speed, DigiByte is not just a currency for fast transactions; it is a blockchain.

What Is DGB?

DigiByte is an innovative open-source crypto platform that can be used to launch smart contracts, create digital assets, develop decentralized applications, and more.

The blockchain uses five crypto algorithms to ensure security and decentralization:

  • Qubit
  • Scrypt
  • Odocrypt
  • SHA256
  • Skein

Combined with secure authentication, the network provides all necessary conditions for safe operation.

Among the main advantages of DGB are:

  • Security. Thanks to the five cryptography algorithms, the network is protected against malicious attacks.
  • Fast transactions. The 15-second block time allows us to validate up to 1066 transactions every second.
  • Decentralization. It is project-driven solely by the community, and there has never been a CEO or ICO funding.

However, some drawbacks must also be pointed out:

  • Lack of popularity. Due to poor promotion and marketing, this coin cannot compare against Litecoin and Bitcoin in popularity.
  • Lack of uses. Since not many users are familiar with the coin and own it, businesses are not inclined to include it as a payment option, which means it cannot be used in day-to-day life.
  • Wallet. The official wallet available on their website is a full node one, and it requires the storage of the whole DigiByte blockchain, which is the biggest one in the world.

Despite the challenges, the DigiByte team is constantly working on technological advancements for the blockchain, such as DigiAssets and DigiHD. This proves the network’s serious intentions and its prospects for success in the future.

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What Is ETH?

Ethereum’s main mission was to fight the limitations of the Bitcoin blockchain. Its creator meant to launch a platform for more than just trading cryptocurrency, and that is what he succeeded in creating.

Today, Ethereum is an open-source platform that uses the blockchain for cryptocurrency exchange and smart contracts execution. One of the main appeals of Ethereum is the ability to create decentralized applications on its basis.

Here’s what’s great about ETH:

  • High-speed transactions (10-20 seconds block time).
  • It is a large, time-tested network with constant innovation.
  • Its decentralization allows for avoiding intermediaries and the associated costs.

Here’s why people are hesitant to work with Ethereum:

  • High transaction costs due to the rising popularity of the coin.
  • Unlimited supply of coins, which devalues the currency long-term.
  • The inefficiency of the Proof-of-Work consensus, which consumes a lot of electricity.

The team behind Ethereum is a group of talented industry innovators that never stop on their journey of improvement. With Ethereum 2.0 on the way, we can expect many new developments on this platform.

Exchanging Your DGB to ETH

To convert your DGB to ETH, all you have to do is find a reliable exchange platform. If you wish to avoid large fees and endless verifications, use a decentralized service that will allow you to keep both your coins and your data to yourself.

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With the Godex exchange platform, you can do just that. No registration, no KYC — just choose your coins and start the transaction. Here is the detailed process:

  1. Find the calculator tool at the top of the page.
  2. Choose DGB in the “You Send” field and ETH in the “You Get” field using drop-down menus.
  3. Enter the amount you wish to either send or receive — the other one will be filled out automatically by the Godex algorithms as they choose the most attractive rate available on the market at the time of the transaction. Click “Exchange.”
  4. Provide your ETH wallet address and click “Exchange” again. At this point, your rate will be fixed to protect your deal from price fluctuations.
  5. Deposit your DGB coins to the unique address provided by Godex.
  6. Wait for the funds to arrive at the destination address.

Most transactions take 5-30 minutes to complete. After it is done, you can check its status on the Completed page. You can also choose among 200+ other coins and tokens; no matter if you need an AVAX to LTC converter or a BTC to XRP exchange, Godex can hook you up!

Bottom Line

If you have mined some DGB and want to exchange it for ETH, you can do it on Godex quickly and securely. Remember that a diversified portfolio is always a smart idea, so you can choose to hold on to some DigiByte — the project’s timeline looks very promising. At Godex, you can also select some other up-and-coming coins, like Cardano, Polkadot, or Stellar, to maximize your investment opportunities and potential profits.

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