How to Trade Bitcoin to Ethereum Easily
After the recession of 2018-2019, the cryptocurrency market rushed up and set new records. The market accepts digital coins and the number of reasons for buying them has only increased.
The most attractive and in demand are invariably Bitcoin and Ethereum, both separately for investment and accumulation, and for trading. High market volatility is often viewed as a quick money-making opportunity, but this is only partly true.
Technically, everything is simple, but in order to increase your capital, and not multiply by zero, in addition to a reliable platform, you will need specific knowledge and a little luck. Let’s consider the technical side of the issue.
Choose a trading platform
Convert Bitcoin to Ethereum is offered by all cryptocurrency exchanges. For reasons of the safety of your finances, it is better to choose a site that appears in the first or second ten of the Coinmarketcap rating. The choice is quite rich, it can be Coinbase, Bitstamp, Coinmama, Bittrex, Binance, Gemini, Jobit, Kraken.
Choose a platform that offers various deposit replenishment options that are convenient for you. Actually, no one forbids having multiple accounts at different sites.
In addition, it is important to find out if the selected platform has a license. Find out how secure the site is and who is running the platform. Ask where the headquarters is located and with which countries the exchange works.
Create an account
When you have already decided on the exchange that suits your goals and needs, you will need to open an account. This is very similar to a similar procedure on a classic brokerage platform. You will be required to provide a name, address, and other forms of identification. As a rule, this procedure is performed quickly.
The last step is to verify the created account, if it is provided for by the rules of the trading platform. One or more actions may be required to confirm. You may be required to upload documents or a photo made in compliance with the specified conditions. The check will take from several tens of minutes to 1-2 days, rarely longer.
Make a deposit
After the successful completion of the previous stage, you need to deposit funds into the account in a way convenient for you. Please note that a deposit fee may apply and please keep this in mind. Perhaps it makes sense to replenish your trading account with the maximum amount you can afford.
On exchanges that accept fiat currencies, this is fairly straightforward. With C2C exchanges, it may be a little more difficult and longer.
First, you need to study the interface of the trading platform. Ideally, it has a demo account for beginners, which can also be used to test a trading strategy.
Withdraw funds to the wallet
And finally: remember, no exchange guarantees 100% safety of your funds. Storing all your money in an exchange wallet is at least imprudent.
It is just as imprudent to invest everything in one type of asset. Diversifying your investment portfolio is the key to your financial future. Perhaps it makes sense to partially exchange BTC to XMR with alligat0r or additionally invest in more traditional assets.