Buying Bitcoin is not a novel idea. But, what if you could buy Bitcoin with your Ethereum holdings at the best price?
First things first, you must look for the right trading platform. These are the signs to look out for:
- Has the platform ever been involved in a hacker’s attack? This is usually a signal that the trading platform is not secure and you should definitely stay away from such a website.
- If it has been attacked, did they offer a resolution to their users? Crypto exchanges may be vulnerable but users should not lose out on their hard earned money. Reputed exchanges have insurance to reimburse their users and this is what you should look at.
- What do the reviews say? Reviews are very crucial for any business but this is even more vital when it comes to cryptocurrency trading platforms. Look for good reviews but also pay attention to the negative ones. This can tell you a lot about the exchange.
- Is it user friendly? Unless you are a seasoned crypto trader, you will need an exchange that is user friendly so that you can use the website easily.
- Do you need to register? Some exchanges have a pretty elaborate registration system which may be a deterrent for users that prefer to stay anonymous. Look for an exchange that can maintain your privacy.
- Does it offer the best exchange rates? This is an obvious point but it needs to be said. You need a platform that is able to provide the best exchange rates in real time since the exchange rate can fall even during the time of transaction which brings us to our next point.
- Are transactions speedy? Since the crypto market is volatile, you need a trading platform that makes it easy for you to make fast transactions.
- Do you need to pay extra for transactions or withdrawal? Ideally, you should choose a site that does not charge you for transactions and withdrawal. This can make micro transactions impossible without losing a significant amount of money.
- Do they have the right resources? From blogs to online help, you will need a trading platform that can hand hold you through the process and make the experience seamless.
- Do they accept credit cards? If you wish to buy Bitcoin with credit card directly, do they accept them? Or, do you have to rely on an exchange?
CoinSwitch is a world renowned cryptocurrency aggregator and fits the bill to a T. Say, you want to perform an ETH to BTC exchange, this will only take a couple of minutes provided the amount isn’t too large. You can also buy Ethereum with a credit card and exchange it for Bitcoin on CoinSwitch. There are tons of resources for users to educate themselves and you can buy Bitcoin with Ethereum at best rates. CoinSwitch tracks data from all the major exchanges and displays the best rate every time. Should you need any help CoinSwitch has a 24×7 helpline dedicated to its users.