To start with, the crypto market has been showing an upwards move lately. This attracts more investors and even those who have never dealt with crypto assets before. They are inspired by opportunities of getting large profits. Since you are reading this article, it is most likely that you want to start trading too. You are curious about the best and easiest way for a beginner trader to buy crypto coins. You are in the right place, as this article is all about coin conversions and trading.
Choose an Exchange
Whether you are just entering the crypto market or already have crypto assets to convert, you need to find a proper exchange. There are platforms with various functionality and configuration tools. Each of them has its own advantages and drawbacks that you are going to find out for yourself.
Buy Coins for Fiat
There are fiat-to-crypto platforms where one can buy any coins for local money like dollars, euros, etc. One should usually pass verification and registration before opening an account on such exchanges. Such sites require personal information, copies of documents, and photos where you are holding a passport in hand. As a rule, the approval of the account takes several days. If you are not a large market player and not going to convert substantial amounts, you will find this procedure unnecessary and too long. But there’s no better way to buy Ethereum with real money if you don’t possess it. That’s a necessary intermediate step before you can exchange Ethereum for Bitcoin.
If you are a happy owner of ETH coins, there’s an easy way of how to change Ethereum to Bitcoin. You don’t have to pass KYC verification or wait for your account approval. Read on to know more about this method.
Exchange your Coin
You can use decentralized platforms if you already have coins in your wallet. They usually don’t demand users’ documents and identity verification. Thus, the conversion is performed much faster — just in a matter of minutes. Such platforms are often anonymous, which prevents data leaks in the case of hacker attacks. Godex.io is one such platform. It has a fairly intuitive interface that even a beginner will cope with easily.
How to Use Godex Platform
The main tool of Godex is a calculator, placed right in the middle of the main page. One should select necessary coins in the appropriate left (sell) and right (buy) columns. It means you choose ETH in the left column and BTC — in the right column. The algorithm monitors the price across popular exchanges and calculates the most profitable rate at the moment. If the current price suits you, go ahead and hit “Exchange”. If it is not okay for you, you may wait for a while until the site shows another option. You don’t have to refresh the page for this. The platform shows new rates in real-time on your screen. Once you get a proper rate, enter the wallet address. This step needs your attention most of all. Be sure to enter the correct wallet address and check it twice before paying. In the case of a mistake, the operation can`t be reversed and you will lose money. The conversion takes between 5 and 30 minutes.
Now that you know how to convert Ethereum to Bitcoin, you are able to perform the same process with any other coins you want. Godex.io developers did their best to create a convenient tool for both experienced traders and beginners.