Should I Now Exchange BTC to CVC?


The Bitcoin price has been very unstable in 2022. This makes investors worry about their funds and exchange BTC for another currency. But are there any cryptocurrencies that are more stable in the long term?

Civic, or CVC, is a crypto token that’s worth almost the exact same now as it was just after its ICO in 2018. Let’s take a look to see if Civic is a promising crypto project and whether investors should change their BTC to CVC

News About Bitcoin

The Bitcoin price has sunk so far in 2022. Down from a high of over $60k less than a year ago, Bitcoin is now establishing a new floor around the $30k mark. One important event happening in the next few years is the Bitcoin halving in 2024. This event marks when the supply of new Bitcoins to miners decreases by half. Typically, halving events are followed by price rises, due to a tightening of supply. 

BTC Price Prediction

So, will it hold this level throughout 2022, drop further, or start another bull run? Here are some BTC price forecasts for this year and out until 2025. Theses sources use expert opinions and forecasting algorithms to give Bitcoin, ETH, and ZCASH price prediction

SourceForecast 2022Forecast 2025$38,288$124,520
Gov Capital$43,858$167,102
Average Expert Forecast$40,289$116,360

A Short Overview of the CVC

CVC is an Ethereum token that’s used to power Civic’s identity management system. It gives businesses the ability to quickly and accurately verify human users on the blockchain. Users can verify their identity while maintaining control of their personal identification information. 

CVC is used to power the application and incentivize various user actions. Therefore, it’s a token with real utility beyond being just an investment. It has been publicly traded since 2017. 

Civic Price Forecast

Here’s a CVC price prediction summary:

SourceForecast 2022Forecast 2025$0.17$0.52
Gov Capital$0.169$0.800
Average Prediction$0.183$0.54

According to these predictions, both Bitcoin and CVC are projected to have modest growth through 2022, then more than 3x growth by 2025. Although on average, CVC is not projected to grow quite as fast as Bitcoin in the short or long term. 

For this reason, CVC can be seen as a good way to diversify a crypto portfolio, not a replacement for Bitcoin.

Where to Trade BTC to CVC in 2022

It’s simple to trade BTC to CVC on many popular exchanges. HitBTC, Huobi, Binance, SimpleSwap, and Godex all offer this service. However, it’s important to choose your exchange carefully. Pay attention to the trustworthiness of the service, the personal information you need to give up to create an account, and the fees and exchange rates offered. 

Here are the basic steps for swapping BTC for CVC:

  1. Open your chosen cryptocurrency exchange.
  2. Choose the amount of BTC you want to transfer using a crypto conversion calculator. A small amount of Bitcoin will get you a large number of CVC coins. E.g. 0.005 Bitcoin will get you over 700 CVC tokens. 
  3. Make a transfer request for BTC to CVC on the exchange (you may have to load your BTC funds onto your exchange), including your wallet/payment information.
  4. Complete the transfer and receive the funds to your CVC wallet.

Is It Time for an Exchange?

If much of your portfolio is in Bitcoin, it may be time to exchange some BTC to CVC. All investors should have a well-diversified portfolio. CVC is a token based on an identity management use case, and so is less likely to be correlated to Bitcoin than other popular tokens. However, experts forecast that BTC will have higher growth than CVC in the next few years. So, don’t swap all of your BTC!

Like it? Share with your friends!