Can You Exchange Bitcoin for Ethereum?

The cryptocurrency market offers a variety of digital assets to invest in. Among them, the most popular and known are Bitcoin and Ethereum. They take 1st and 2d place on all crypto rankings, with their biggest trade volume and market cap. Let’s take a look at these crypto assets and see where we can convert BTC to ETH.

Ethereum

Ethereum is a crypto asset and a whole network where decentralized app developers build their applications and smart contracts. Also, blockchain game creators deploy their projects on top of the Ethereum network. Over time, the network has become overloaded with projects running on it, which leads to:

  • low throughput;
  • low speed;
  • higher fees.

The merge of the Ethereum blockchain solved these issues. The network switched from the Proof-of-Work protocol to the Proof-of-Stake, resulting in:

  • low transaction fees;
  • much more efficient network performance;
  • significantly reduced electricity costs;
  • possibility for staking.

As of November 9, 2022, the ETH price is $1,205.

Bitcoin

Bitcoin is the first crypto asset that was released in 2009. It spurred the whole industry development. BTC has the largest market capitalization and trade volume. Some drawbacks of the Bitcoin network include high expenses for mining equipment and electricity costs and high transaction fees. As of this writing, the BTC price is $17,72.

Both these assets are traded on all crypto exchanges, but we recommend buying them on reliable and credible platforms, for example, Binance, WhiteBIT, and Coinbase. Let’s see how to exchange BTC to ETH on WhiteBIT.

How to Convert Crypto Assets on WhiteBIT?

WhiteBIT is the largest crypto exchange in Europe, operating officially and complying with all the rules and regulations. To buy crypto with fiat money on WhiteBIT, you will need to register an account and pass KYC. Converting coins in WhiteBIT is easy even for beginner traders, for the exchange has a convenient interface that can be customized according to a user’s needs.

Suppose you have some Bitcoins and you want to buy Ethereum. So you go to the trading section on WhiteBIT and pick BTC and ETH. The calculator will show you the current price for this pair. Then you pay the fee, which is minimal on WhiteBIT – 0, 10%, and get ETH to your account in a matter of seconds.

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