What Is the Best Way to Swap BTC for ETH?
Cryptocurrencies like Bitcoin and Ethereum have been topping the crypto market charts for a good minute. Ever since the launch of ETH eight years ago, it’s been a popular deal to exchange Bitcoin to Ethereum.
While popular crypto exchanges work sufficiently for conducting the BTC to ETH exchange, there are still better crypto platforms that are waiting for you to discover them. In this article, you will get to know about some niche yet more profitable and secure options for trading BTC and ETH.
Before you proceed to trade your digital assets, it’s always a good idea to check out their current performance and near-future prospects.
Bitcoin is in the bear market and recently reached its lowest price of $17,593 in the last 18 months. One of the main reasons for this fall was the rise of interest rates by financial institutions worldwide, the crash of some cryptos like Terra, and the war in Ukraine. Despite all the difficulties, crypto experts believe the prices will be rising again soon.
According to Digitalcoinprice, BTC can climb to $29,546 by the end of 2022. Crypto experts at Priceprediction think that BTC will reach the price of $41,180.9 in 2022. Based on the BTC price analysis done by TradingBeasts, Bitcoin’s value will stay under $37,307.6 till 2023.
Ethereum is currently in the process of transitioning from proof-of-work to proof-of-stake consensus. The Merge process is expected to take place in August 2022. The ETH price began to fall from $1,900.4 to $897.5 after the recent test-drive merge of Ethereum by Ropsten in June 2022. Although the Merge will probably be delayed for a few months, it’s caused a wave of disbelief amongst crypto investors worldwide.
Experts from Priceprediction say the price of Ethereum can reach the mark of $2,503.9 by the end of 2022. Digitalcoinprice is less optimistic, stating that ETH will only climb to $1,557.7. According to TradingBeasts, Ethereum will be traded at a price of $1822.5 per token in December 2022.
You can exchange Bitcoin for Ethereum using any of the exchanges listed below.
The main advantages of Godex are its anonymity and a decent variety of coins. There are 301 available cryptocurrencies, including BTC and ETH. Trading with Godex also doesn’t require registration. However, one of the cons that you might find is the absence of fiat.
To start exchanging, you have to go to https://godex.io/, choose the coins you want to exchange, and enter the desired amount of crypto you want to trade in the middle of the page. Then, enter your ETH wallet address in the “Destination address” field. After that, you’ll receive a deposit address. Send the BTC you want to exchange via the generated link. Wait for the confirmation of your transaction and visit your wallet and find the received funds.
SimpleSwap is a decentralized exchange that requires no registration. The biggest advantage of the platform is its catalog of 450 cryptocurrencies to choose from. However, avid crypto traders might find exchanging with SimpleSwap very frustrating due to its long transaction time of up to 60 minutes.
Bitstamp is a reputable cryptocurrency exchange that operates in more than 100 countries. It offers 75 different coins including the BTC to ETH change option. The main disadvantage of the platform is its comparatively large fees of 0.5% of your monthly trading volume is under $10,000. The platform is also not acceptable without completing registration.
The bear market is one of the best times to invest in any cryptocurrency. Because right now transactions of 1 BTC will only cost you $1-2 in fees, it’s a perfect time to exchange BTC for ETH. Taking the chance and investing in Ethereum before the Merge may result in tremendous financial gains in the long run.