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 Own Different Currencies ?
Cryptocurrency prices are highly volatile.
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 to 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.
Best Exchanges To Convert Once 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.
Fee is in the range of 0 – 0.5%
440 cryptocurrencies to exchange between.
Only crypto to crypto payment accepted.
No registration 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 required !
Commission is 20% on saves.
I recommend to use it only when you use entire swapping amount.
Changelly is very simple and easy to use.
Fees (0.25 – 0.5%) is 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.
Only issue is that their exchange rates aren’t fixed and can change to profit or loss when transfer is executed.
ChangeNow is user-friendly and very secure.
170+ coins available to exchange between.
Fiat and crypto deposits accepted.
No registration required (sometimes KYC 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. Mining fee can be high or low depending on the network.
Registration is necessary.
Very few currencies available to exchange between.
However, their rating are very low.
Cryptoonews.com views :
We highly recommend you to own more than one cryptocurrency and all these platforms make it easy for you to own different cryptocurrencies.
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