How To Convert One Cryptocurrency To Another?
This article is definitely useful to you if you’re looking to convert one cryptocurrency into another.
What You Need?
- Cryptocurrency Wallet (To store coins)
- Cryptocurrency Exchange (To buy coins)
Let’s start now.
Why Should You Own Different Currencies?
Cryptocurrency prices are highly volatile.
The price of 1 BTC can move 50% up or down in days.
You should never put all your eggs in one basket.
I highly recommend you keep more than one cryptocurrency.
First of all, if you’re looking to convert cryptocurrencies for profits, you should know that it will not happen. That is something for highly experienced day-traders.
For this guide, I’m going to assume you’re already familiar with buying cryptocurrencies. If you’re not, then check out Beginner’s Guide To Buying Bitcoins Worldwide.
You can buy hundreds of different cryptocurrencies on the exchanges these days.
Below are the ways on how to convert cryptocurrency into another.
Best Exchanges To Convert One Cryptocurrency Into Another
Check further to choose which one is best for you.
Coinswitch is connected to multiple exchange platforms to provide you the best exchange rate. This feature is very useful if you’re price-oriented.
The fee is in the range of 0 – 0.5%
440 cryptocurrencies to exchange between.
The only crypto to crypto payment accepted.
No registration is required! (registration is required in some countries).
Swapy analyzes exchange rates from the major platforms and gives you the best price.
You can choose between 100+ coins.
No registration is required!
The commission is 20% on saves.
I recommend using it only when you use the entire swapping amount.
Changelly is very simple and easy to use.
Fees (0.25 – 0.5%) are lower than major platforms like Coinbase but still higher than some.
Fiat to crypto, crypto to crypto accepted.
No ID required.
You should set up a wallet before using it.
The only issue is that their exchange rates aren’t fixed and can change to profit or loss when the transfer is executed.
The coolest thing about ChangeNOW is that it lets you convert one cryptocurrency into another from anywhere.
For example, you can go to the website link above or you can easily check how to convert one cryptocurrency into another by using the widget below
ChangeNow is user-friendly and very secure.
170+ coins are available to exchange between.
Fiat and crypto deposits accepted.
No registration is required (sometimes KYC is required).
No fixed exchange rate.
1% fee for fiat deposits.
$1.70 is the minimum exchange accepted.
ShapeShift offers full transparency. It lets you see the exchange rate differences between many major exchanges.
They charge miner fees only. The mining fee can be high or low depending on the network.
Registration is necessary.
Very few currencies are available to exchange between.
However, their rating is very low.
We highly recommend you to own more than one cryptocurrency and all these platforms make it easy for you to own different cryptocurrencies.
That’s it for how to convert one cryptocurrency into another.
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