FinTech

A Step-by-Step Tutorial On Making Cryptocurrency Conversion

Cryptocurrency Conversion

Early 2021 shows upward crypto market movement that had not been seen since early 2018. More new traders get engaged in this pretty volatile financial field with the hope of making a profit.

Experienced market participants also expand their crypto wallets, buying and exchanging cryptocurrency daily watching the market fluctuations.

One may buy crypto coins with fiat, while those having cryptocurrency assets can easily convert them on specific platforms. Here is an in-depth guide for you to learn to exchange crypto coins, even if you have never done it before.

Centralized or decentralized?

The first thing for you to do is finding the proper exchange. Nowadays there are many different platforms performing converting functions out there. Needless to say, their number is growing as the crypto market develops.

When choosing the place to convert coins pay attention to the site’s security, work speed, fees, and convenience of use. Also, check out if the site includes the coins you need since not all of them present a wide list of currencies available yet. 

After careful consideration of different platforms for exchange, you will probably find out that some of them require registration and KYC verification (know your client). They are called centralized exchanges.

You can start your account on one of these sites by providing your personal data, papers, and photo with a passport to the side administration email before beginning trading.

This usually takes few days, which does not sound attractive in the case you only want to perform an instant exchange. But some platforms don’t ask for your personal information. You don’t even need to enter your email address on some of them. Godex.io is one such platform.

Also Read: 11 Reasons Why People Fail at Online Trading

Use Godex to swap instantly

If you are wondering how to convert ETH to BTC quickly and anonymously, you are on the right track. Godex does not for registration and verification of your identity. Thus, you stay completely anonymous and your funds are safe.

None of the hacker attacks may hurt you, as the site holds neither your coins nor personal data or documents, so data leaks are not what you should fear. 

The platform has fairly transparent work conditions, and don’t ask for any additional fees to convert your currency. This is one of the reasons why traders around the world appreciate Godex. 

Having some ETH on your deposit, go to Godex.io and find the calculator tool in the center of the home page. In the left column you can choose the coin you want to sell, in our case it is ETH. The right side is meant for the coin to receive (BTC).

Once done, the Godex algorithm will start tracking the rates all over the popular resources finding the most profitable for you. If it suits you, go ahead and hit “Exchange”.

If you don’t find the current price suitable, wait for a while. The site will propose you another option soon. After all, the rate will suit you and you will proceed with the conversion for your ETH to BTC.

The program will ask you to enter the wallet address, which is an especially responsible task. Be sure you indicate the correct number and better check it twice. The transactions in the blockchain technology can’t be returned and you risk losing your funds if you make a single mistake in the wallet address. 

Once you checked it, pay the application and wait for BTC to come to your wallet. It usually takes several minutes, but sometimes can last up to 30 minutes.

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