By far the two most popular and well-known digital coins are Bitcoin and Ethereum, these cryptocurrencies are in the spotlight. Therefore, it comes as no surprise that exchanging ETH/BTC is one of the most sought after, along with converting crypto into fiat money. There are many options available, so let’s take a closer look at how to make an Etherium to Bitcoin exchange.
What are the options for exchanging cryptocurrencies
Given the prevalence of Bitcoin and Ethereum digital coins, almost all services support the pair in both directions. Users can choose the most convenient and profitable way to exchange these cryptocurrencies. Among the most popular options are:
- converting via a cryptocurrency exchange;
- Using the services of online exchangers;
- exchanging inside a cryptocurrency wallet.
Each of these methods has its own disadvantages and advantages, so before converting crypto, it is advisable for the user to study the terms offered by the services. We will, however, focus on each of these options.
Conversion via cryptocurrency exchange
First, let’s look at how to convert Ether to Bitcoin through a cryptocurrency trading platform. This route promises a good exchange rate and a large number of withdrawal options, in addition, reputable services take care of the security of their clients’ account contents. However, this option is not suitable for customers who value privacy. Usually, crypto exchanges require a verification procedure with scanned copies of documents containing personal data before withdrawing money.
Once the crypto is credited to the account, you can proceed directly to the exchange. The exchange gives you the opportunity to transfer a whole list of digital and fiat currencies at an over-the-counter rate. To do this, go to the “Exchange” tab and select the desired coins from the “I give” and “I receive” drop-down menu, enter the amount you want to convert and click on “Exchange”.
There is a way to get more Bitcoins for your Ethers. You can do that by trading them on the exchange, i.e. placing sell order at desired price. However, that will require more time and some knowledge in exchange trading. If you need Bitcoins in a hurry, you will have to use the first method.
The next question is how to withdraw Etherium or Bitcoin (depending on the direction of the exchange) from the exchange. This is taken care of by the administration of the crypto exchange: the site supports most of the major payment systems, through which you can transfer the crypto to your wallet or withdraw it in fiat.
Transferring Etherium to Bitcoin via exchangers
There are many dozens of online services for converting various currencies on the internet. They are very convenient in terms of anonymity and fast service. Most exchangers work in manual or semi-automatic mode, which implies communication with the operator. The exchangers support conversion of cryptocurrencies into other cryptocurrencies (from among the leading ones), fiat money or title units of payment systems. It is also possible to receive money by bank transfer, card or cash.
In order to choose an exchanger with the most favorable terms, it is best to use a special website Changelly, which gets real-time information from all major exchangers. Let’s find out how the whole process works.
Conversion inside cryptocurrency wallet
Another way to convert Ethers to Bitcoins is to take advantage of the capabilities of multi-currency wallets. They support multiple digital coins and have a wide range of functionality. In particular, many of them have an internal cryptocurrency exchange feature within the wallet, which is provided by add-ons from ShapeShift or Changelly services. The transaction is instantaneous and there is no fee.
Recently, this operation can also be done in a Blockchain wallet. However, this can only be done in individual countries, and only three cryptocurrencies are subject to internal conversion: Bitcoin, Bitcoin Cash and Ethereum. There are several steps you need to take in order to make the exchange:
Go to the “Exchange” tab, which you have in your wallet menu, and select the currencies to be converted.
Then specify the amount to be transferred and click “Next”.
Check the application that appears, tick the “Terms and Conditions” box and click “Confirm”.