Are you looking to exchange your Bitcoin into Ethereum but confused how to exchange, than here we come up with the easiest step by step guide to convert the Bitcoin into Ethereum, First of all, we would like to tell you it’s not only about a particular coin, you can exchange any coin to another coin. There are so many Digital currency investors used to manage their portfolio by exchanging their coin list.
Many Bitcoin investors still believe in the high potential growth of Bitcoin in coming time and quite pessimist about Bitcoin but some others are not ready to take much risk and believe the Ethereum has more chances to grow in coming time. They would like to convert Bitcoin into Ethereum.
Why exchange Bitcoin into Ethereum?
As we all know Ethereum is the 2nd largest cryptocurrency after Bitcoin in coin market cap with great market capitalization, worth $14 billion. Ethereum comes into existence in July 2015 after 6 months late of Bitcoin. There is a difference between both currency, while the BTC “peer-to-peer electronic cash”, Ethereum is a platform on which you can write smart contracts and decentralized apps.
There are many large organizations joining hand with Enterprise Ethereum Alliance which includes Microsoft, Pfizer, Deloitte, and J.P. Morgan which result in the heavy growth of Ethereum price. More will grow the Ethereum network, more will be the chances in the price increase of Ethereum.
Where to Convert Bitcoin to Ethereum?
Now the question arises is where you can convert BTC into Ethereum, One of the best way to convert Bitcoin into Ethereum is via an Exchange. There are many kinds of exchange you can go through to convert your digital currency including, centralized exchanges Finance and Kraken, decentralized exchanges 0x and Waves, and peer-to-peer exchanges like LocalBitcoins.
But exchange currency via exchange is not so easy, you need to follow a lengthy process that could be very tough for small investors. Also not suitable for the new investors with lack of knowledge.
So here we come up with the easiest way to exchange digital currencies that you can use easily. So if you are new in the digital currency world and want to exchange your BTC into ETH than you must download Coinbase app.
The codebase app is easy to use, you can exchange the currency here by paying a nominal fee which is 1%. Here we are going to discuss the process to convert bitcoin to ethereum on Conibase. You can convert $3 worth of Bitcoin into $2.95 worth of Ethereum using Coinbase app on your phones.
How to Exchange Bitcoin to Ethereum: Easy guide
- First of all download the Coinbase app tour your mobile phones and signup to the app for easy trading of coins. it is very easy and user-friendly. You can download the app from any app store.
- Now link your bank account to Coinbase to buy BTC by using any currencies like dollars and euros.
- After signing up to the app log in to the app and tap on Bitcoin
- After tapping on Bitcoin it will take you on the bitcoin screen, now scroll down and you will see “Convert BTC to another cryptocurrency for no fee.” option. This is not mean it will not charge any fee, on company website it’s clearly stated that it will charge a 1% exchange fee.
- Now Tap on “Convert”.
- Then tap “Preview Conversion”.
- You will then be asked to confirm that you wish to convert bitcoin into Ethereum.
- Tap “Convert Now” to finalize the transaction.
- Congratulations! You have now successfully converted bitcoin into Ethereum!
So this was the process to convert Bitcoin to Ethereum that you can follow easily as a beginner as well. Before buying any digital currency do your own search, and focus on the strength, weakness of each currency.
Try to find out the risk and profit of any currency based on competition and organizations involved. If you find our article useful for you then subscribe the cryptopostgazette for more digital currency update.