Cryptocurrency has taken over across the past few years. Unlike a couple of years ago, more people are investing in various cryptocurrencies. Back in 2009 when Bitcoin was launched, most people were quite reserved for the fear that it could be a scam. Over the years, bitcoin has grown in value, leading to the creation of various types of crypto coins.
The birth of different types of crypto coins has led to crypto exchange or trading. Ideally, what crypto trading means is that you can exchange one type of crypto coin for another. The main logic behind trading is the hope that it will grow in value. In this guide, we will share a step-by-step process on how you can sell bitcoin for ethereum.
Select an Exchange Platform
For you to buy or sell bitcoin for ethereum, you will require an exchange. When selecting an exchange, ensure that you review features such as how user-friendly it is and what type of crypto assets it supports.
The sign-up process is pretty simple and won’t take much of your time. Ensure that you create a strong password for your account. During the registration process, you might be required to provide your identification. While doing this, ensure that you are using a reliable and protected internet connection.
Get a Crypto Wallet
You will require a crypto wallet to store your bitcoin or ethereum safely. Most exchange platforms also offer e-wallets where you can keep your crypto coins. If that is the case, you will be required to add in your mode of payment.
You can buy or sell crypto using your credit or debit card or from your bank account. Crypto wallets such as NakitCoins, for instance, allow you to do a coin swap. However, avoid using your credit card as cryptocurrencies are highly volatile. Trades can take a few days for processing and you could incur a small fee depending on the platform you are using.
Buying and Selling Crypto
Once your account is all set, you are now ready to trade crypto coins. Nowadays, most crypto wallets will allow you to start trading after you’re done setting up your account. This means that if you want to sell bitcoin for ethereum, you will enter the amount of bitcoin you wish to trade. The platform will calculate the exchange rate and display the amount of ethereum you will receive. You will then enter the wallet address where you want to accept your ethereum and voila. This process is relatively smooth and efficient. Most exchange platforms will charge a small fee for the transaction.
Buying and selling bitcoin for ethereum is pretty simple nowadays. Ensure that you select the best crypto exchangers for the best deals and customer services. Take your security seriously. Avoid accessing your account on public Wi-Fi as most aren’t protected, and hackers can quickly access your details. Ensure that you look at the prices before trading to avoid losing your revenue.