Cryptocurrency market leaders Bitcoin and Ethereum, two of the largest peer-to-peer decentralized currencies, also hold honorary positions in the investment portfolios of many large investors. They are no less interesting for traders who make money on the difference in the exchange rate. One way or another, the exchange of Bitcoin for Ethereum is a very popular operation.
Where to convert Bitcoin to Ethereum
Regardless of the purpose for which you plan to exchange some of the Bitcoins for Ethereum, you have two simplest ways:
- Traditional cryptocurrency exchanges
- Instant exchange services.
Traditional cryptocurrency exchanges
The functionality of classic exchanges has been adapted for trading and continues to improve in this direction.[ Take advantage of the best crypto exchanges and visit Coinbrary to learn about bitcoin, Ethereum, and other cryptocurrencies exchanges. Research is vital before investing, as with any further investment. ] In addition to the exchange itself, the exchanges provide the possibility of margin trading, placing orders, leverage, and tools for technical analysis of the market. Of course, the technical capabilities of different exchanges differ quite a lot but with the help of Bitcoin robots it gets quite simple to take the necessary steps. Most reputable exchanges offer cryptocurrency wallet services to their users. Some of them support the possibility of staking and other forms of earning.
You can start working with the platform only after registering an account, and it often needs to be verified. The verification procedure implies at least the provision of an identity card, confirmation of a phone number. This contradicts the principles of anonymity of cryptocurrency users, but is necessary for the legal functioning of the service.
Instant exchange services
Unlike classic trading platforms, cryptocurrency instant exchange online works without registering an account and, for the most part, does not provide wallet services. This is the fastest, safest and easiest way to exchange Bitcoin for Ethereum.
You do not disclose any personal data and your coins are out of your wallet for exactly as long as it takes to find a suitable transaction and complete it.
How to convert Bitcoin to Ethereum
The algorithm for converting one cryptocurrency to another is fundamentally the same on all trading platforms and is not at all complicated. Let’s consider it on the example of BTC to ETH exchange using the LetsExchange service.
- On the home page, open the exchange widget.
- In the upper field, select BTC for sale and indicate the amount of coins.
- Select ETH in the lower field. The program calculates the amount you receive automatically.
- Indicate the wallet number for crediting the purchased Ether.
- Make a deposit.
- Press the “Exchange” button.
All the most difficult work will be done by SmartRate, a specially developed search program. It finds relevant offers that match the given parameters, compares conditions and chooses the most profitable deal.
After confirming the transaction, the system will complete the transaction and send your coins to your wallet.
The platform works without hidden commissions and restrictions on the amount and number of transactions.