Bitcoin is the most popular cryptocurrency and, figuratively speaking, the founder of the genre. With its appearance, Bitcoin marked the beginning of the development of all other similar currencies.
It is worth noting that the creators of BTC left the free code of their development, which made it possible for other specialists to create new types of cryptocurrencies on this basis. BTC emission is limited to 21 million.
Ethereum is a platform for building decentralized blockchain-based online services powered by smart contracts. Implemented as a single decentralized virtual machine.
Later, regulators forced bitcoin storm cryptocurrency exchanges to verify all customers who wanted to exchange bitcoin for other currencies.
As an open platform, Ethereum greatly simplifies the adoption of blockchain technology, which explains the interest not only from new startups, but also from the largest software developers such as Microsoft, IBM and Acronis.
The ways to exchange ETH to BTC
There are not so many ways to exchange cryptocurrency: online (exchange services, exchange services and p2p platforms) and offline, it means to meet in person. The online exchanger is popular of its speed of transactions and anonymity. The interface is usually very simple and there are a big variety or crypto pairs.
Cryptocurrency exchanges are used mainly for trading or long-term investment in the cryptocurrency market. 2 years ago, crypto exchanges began to offer services for the purchase and exchange of cryptocurrencies from Visa and MasterCard. Later, regulators forced cryptocurrency exchanges to verify all customers who wanted to exchange bitcoin for other currencies.
On the other hand, decentralized exchanges (like all cryptocurrency exchanges) must maintain a fundamental level of user interest in the form of trading volume and liquidity.
What measures should be taken to minimize the exchange risks?
Before you start working with exchange services, keep in mind the following tips:
- Mindfulness, adequacy, critical analysis.
- Check ethereum to bitcoin exchange rate.
- Divide large amounts into parts and exchange the next part after receiving payment of the previous one, then the probability of losing a large amount is sharply reduced.
- Create complex passwords that are unique for each site. If one is hacked, then all other similar ones are traversed through its base.
- Double-check the details at each step. There is even malware that replaces Bitcoin addresses in the clipboard. And sometimes users themselves get confused, they send a BCH wallet instead of BTC.
- Google reviews of services and money changers on independent platforms, such as exchanger monitors, and forums. It is useless to look at the reviews on the exchanger’s website, anything can be drawn there.
- When accepting payment, ask for a fresh Photo of the card with which the payment will be or a photo of the product. Better yet, a video where the voice is spoken for who it is being filmed. This will not remove all the risks, but it will weed out those who completely “work” at random.
- Any invoices, files with requisites, photos, etc. open in a separate virtual machine, in which there is no access to anything of value.
- Do not make transactions at the request of third parties. Even if it’s the best friend of my mother’s friend’s brother.
- Pay attention to the limits of the payment systems you work with.
- When sending cryptocurrencies, select a sufficient level of commission so that the payment does not hang for a long time. In this case, many services can change courses to a disadvantage for you.
- Contact the counterparty via several communication channels for confirmation, for example, via mail, messenger and private messages of the site where the ad is posted. At least on first contact.
If you follow our recommendations, the process of exchanging will be simple, safe and convenient.