How to Exchange Currency Profitably? - A Guide to Currency Exchange Rates and Strategies

In today’s globalized world, where trade and money exchange go beyond borders and physical boundaries, relying on a single currency, like the lari, is no longer sufficient.

For years, in addition to the lari, Georgia has seen active use of foreign currencies, particularly the US dollar. People frequently send money abroad or receive it from other countries. Alongside traditional currency exchanges, digital payments and cryptos have become essential in our daily lives.

Whether it’s purchasing a car, subscribing to Amazon, investing in crypto, or sending money internationally, many rely on currencies like the lari, US dollar, or euro to meet their needs.

This is why finding a fast, simple, and profitable way to exchange currencies has become a priority for everyone.

In this blog, we’ll guide you on how to exchange money at the most favorable rates and where to find the best currency exchange options.

Cryptal – The best exchange rate and instant swapping

Currency exchange in Georgia today is accessible through various channels, including major banks like Bank of Georgia, TBC Bank, Express Bank, and Liberty Bank.

Additionally, microfinance organizations offer alternative options with competitive rates compared to banks. For instance, Rico Currency Exchange is known for providing favorable exchange rates to customers.

Another method of currency exchange, often more profitable, is through the Cryptal platform. This Georgian crypto exchange allows users to buy, sell, and exchange digital assets while offering features like storing and converting traditional currencies into stablecoins.

When users put traditional currency, such as 100 GEL, it is automatically converted into a stablecoin like TOGEL, equal to 100 TOGEL (1₾ = 1 TOGEL). Similarly, topping up 100 USD results in 100 TOUSD (1 USD = 1 TOUSD). These stablecoins are pegged to their respective fiat currencies, ensuring value consistency. For example, USDT, a digital equivalent of the dollar, maintains a 1:1 value with the USD.

Simply: What is USDT?

If a user wishes to withdraw funds, the stablecoins are automatically converted into their preferred fiat currency—GEL, USD, or EUR—and transferred to their bank account or card.

The platform also enables users to set their own buying or selling rates, creating opportunities for advantageous exchanges. For instance, a user selling USD at 2.80 GEL (below the market rate of 2.83 GEL) can quickly exchange currencies if another user accepts the rate. This dynamic system benefits both parties: the seller gets their desired currency promptly, while the buyer secures a better-than-market rate.

With thousands of active users, Cryptal ensures frequent opportunities for competitive rates, making it a highly efficient option for currency conversion.

For more, check out Rate on Cryptal and on Rico:

How to Exchange Currency via Cryptal?

To exchange currency, users must complete a quick registration and verification process, which takes just a few minutes. Then:

Click on Exchange
Select trading Pair – USDT-TOGEL
Choose Market Order
Select the action – Buy
Indicate the amount
Click on Buy

After Purchasing USDT via TOGEL, the user should go through the same process but in this case, they have to sell USDT for TOUSD.

Select Pair – USDT-TOUSD
Choose Market Order
Select the action – Sell
Indicate USDT amount
Click on Sell

USD (TOUSD) will appear in your wallet within seconds, and you can easily withdraw them instantly via bank cards or bank transfers.

What are the advantages of using Cryptal?

Profitable - One of the key benefits of using Cryptal and crypto assets is access to the most competitive exchange rates. The platform’s large user base with diverse needs creates opportunities to exchange dollars, lari, or other currencies at the most favorable and profitable rates.
Convenient - Cryptal allows you to exchange money comfortably from home using the Internet. There’s no need to visit a physical location, handle cash, or wait in line—everything can be done remotely with just a few clicks.
Fast - You can exchange money, transfer assets, and withdraw funds to your bank account instantly, completing transactions within seconds without any delays.

Frequently Asked Questions

What is a Stablecoin?

A stablecoin is a type of digital asset designed to maintain a consistent and stable value. One example is USDT, which is permanently pegged to the U.S. dollar at a value of $1.

Each USDT is backed by reserves equivalent to the corresponding U.S. dollar, ensuring its price remains stable.

Often referred to as the "digital dollar," USDT serves as an alternative to traditional dollars, thanks to its close connection to the U.S. dollar and widespread usage.

What is an Exchange?

An exchange is a digital platform where individuals gather to buy and sell cryptos, facilitating the exchange of crypto assets between users.

Sellers list their crypto assets on the market, while buyers indicate their interest in purchasing them. The exchange acts as an intermediary, connecting the two parties and providing a secure, reliable environment for the transaction.

What is a Market Order?

Market Order is one of the primary features of an Exchange which allows users to buy/sell assets easily. If you want to buy a coin on an exchange at the best available price on the market, you should use a Market Order.

A market order executes immediately at the current best price available in the order book.