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 several ways to exchange coins. Take a look at these before you decide 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 a few of them with fiat money - no problem, use a centralized exchange service. btc eth exchange 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 right for you.
Exchange cryptocurrencies
There are therefore decentralized services that do not usually require you to identify yourself. 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 during the exchange process. 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 can provide 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 on how to convert bitcoin to ethereum currency converter at 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 would like to sell from the corresponding list. In our case, it is ETH.
- Then select the coin you would like to receive in the right-hand column. In our case, it is BTC.
- Enter the number of coins you would like to send.
- Now you can see the amount in BTC you will get for your ETH. Godex's algorithm ensures you get the best rates on the market, in real time. If the suggested rate does not suit you, you can wait a little and the system will suggest a new position. You don't need to refresh the page, the information updates automatically.
- If the exchange rate suits you, you can go ahead and click on "Exchange".
- Enter the wallet address. Be particularly 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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