Quick overview:
A guide to switching from Ethereum to Bitcoin
The cryptocurrency market experienced an upward trend at the beginning of 2021, prompting many inexperienced traders to enter the market with the aim of making a profit from the rapid rise in cryptocurrency prices. This article describes cryptocurrency exchange options and the pros and cons of each. Read on to find out more.
There are various ways to exchange coins. Take a look at these before deciding on an exact place to trade.
Buy cryptocurrency with fiat money
If you have no coins at all and the upswing in the cryptocurrency market has inspired you to buy some with fiat money - no problem, use a centralized exchange service. convert btc eth So if you are an experienced trader and want to withdraw your earnings from the wallet, then you can exchange them for fiat money. The fact is that such exchange services always ask new users to go through a registration and KYC (Know Your Client) process. As a result, you have to provide personal information, documents and photos with a passport in hand. As you can imagine, it can take several days. Therefore, if you intend to create your user account, then you are welcome. However, if you are looking for a way to exchange coins instantly, then centralized exchange services are not for you.
Carrying out the exchange of cryptocurrencies
There are therefore decentralized services that usually do not require identification of the person. This allows you to remain anonymous and protect your personal data. As long as you don't remain a big player, decentralized platforms are just right for you. They usually offer a wide range of crypto assets, you can choose any pair and make a switch. Meanwhile, these platforms don't hold your coins - they transfer them to other users in the process of conversion. This also makes them even more secure. Godex.io is one of such platforms. It is easy to work with, even if you are a beginner in trading, you will succeed.
How to switch ETH to BTC
The crypto industry is all about anonymity, which Godex does best of all. Traders from all over the world prefer it for its simplicity and ease of use. And here you can find detailed instructions about it, how to convert bitcoin to ethereum currency converter can switch to Godex:
- Open Godex.io and go straight to the calculator on the main page. The developers of Godex intended to make this tool as user-friendly as possible so that even beginners can easily use it when they want to trade.
- Select a coin that you want to sell from a corresponding list. In our case it is ETH.
- Then select the coin you want to receive in the right-hand column. In our case it is BTC.
- Enter the number of coins you wish to send.
- Now you can see the amount in BTC that you will receive for your ETH. Godex's algorithm ensures you the best rates on the market, in real time. If the suggested rate doesn't suit you, you can wait a bit and the system will suggest a new position. You do not need to refresh the page, the information is updated automatically.
- If the exchange rate suits you, you can continue and click on "Exchange".
- Enter the wallet address. Be extra careful when you do this. Even a single mistake can lead to failure, as the very nature of blockchain technology is the impossibility of undoing it.
- The change usually takes between 5 and 30 minutes.
Conclusion
Now you know that it is quite convenient to exchange ETH to BTC without registration and waiting times, so you can perform the same operation with any other coins. In addition, your anonymity is not violated when using this exchange service and no additional fees are charged by Godex.
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