Without any doubt, Bitcoin (BTC) is still the most popular cryptocurrency. It has the largest market capitalization, and many people regard it as a good investment. And there are good reasons for that popularity. Since its creation, Bitcoin has shown a bullish behavior. Several price hikes have given huge gains to early investors.
However, Bitcoin is not the only cryptocurrency that can bring good revenue to investors and traders. Other cryptocurrencies have attracted attention because of their steep value climbs. One of such cryptocurrencies is Ether (ETH), the digital coin of the Ethereum network. ETH has become the second most popular cryptocurrency after Bitcoin.
ETH is also second by market capitalization, and it has shown several value hikes throughout the years. Thus, for many investors, holding both Bitcoin and Ethereum is a smart diversification strategy. Investors that already hold BTC can acquire ETH with a BTC to ETH converter.
If you want to convert Bitcoin to Ethereum for the first time, make sure your digital wallet supports ETH. Some wallets are exclusive to store Bitcoin. If you have one such wallet, you will need an ETH wallet or a multicurrency wallet that supports both BTC and ETH. A multicurrency wallet can be the ideal solution to create your portfolio of crypto investments more easily.
Make Sure You Get the Best Conversion Rate
You can find many exchanges only that can swap BTC for ETH and vice versa. Hence, it seems that converting some of your BTC holdings to ETH is quite simple. However, you must make sure that you get the best rate in every swap. How can you know you’re getting the best rate? Well, you can manually check different exchanges and compare their rates. However, with a large number of exchanges available, such a method is impractical.
Instead, you can use a platform that compares the rates of different exchanges to select the best conversion rate. For example, the LetsExchange.io platform utilizes technology that automatically selects the best rate over several major exchange platforms. In this way, you can be sure that you get the most out of every BTC-ETH swap that you do.
Whatever the exchange platform you choose, the conversion from Bitcoin to Ethereum is generally done through an online converter as mentioned. Usually, you must follow these steps:
●Input the amount of BTC that you intend to convert;
●Type in your wallet address in which you will receive ETH;
●The converter will display the amount of ETH that you will get. If it is fine, just click on the relevant button to complete the transaction.
That is all. Depending on the exchange you chose, the completion of the swap may take several minutes. You should select a non-custodial service for added security. An exchange offering non-custodial services doesn’t store your crypto assets, private keys, or any personal data. In such cases, you’re responsible for the secure storage of your private keys, thereby minimizing the risk of any security breach.
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