Exchange Bitcoin to Altcoin, In this article, We will go through step by step how to Trade Bitcoin for Ethereum.
After reading this article you will be able to Trade bitcoin for Ethereum or to any coin of your choice.
If you are new to CryptoCurrency or would like to know more about bitcoin.
I recently published an article titled Where does Bitcoin come from?.
We recommend you read it first before proceeding with this one. so you can better understand how the first cryptocurrency was created.
Before we get into how to trade Bitcoin for Altcoin. I need you to understand what Altcoin means and how to identify one.
What is Altcoin?
An Altcoin ( Alternative coin ) is a substitute to bitcoin.
Altcoins are the alternatives to bitcoin they were created after the success of the first cryptocurrency by Satoshi Nakamoto ( Bitcoin creator ).
So Bitcoin is not the only Cryptocurrency in existence.
How to identify an Altcoin
Currently, as I’m writing this post there are 2129 Altcoins listed in Coin Market Cap.
Coin Market Cap is a cryptocurrency information website where all the legit cryptocurrencies are listed.
To be familiar with Altcoins visit Coin Market Cap.
So apart from Bitcoin, all other cryptocurrencies listed on Coin Market Cap are called Altcoins.
Ethereum is one of the most popular Altcoin.
How to exchange Bitcoin to Altcoin on Changelly
Now that you understand what an Altcoin is.
Let’s get into how to Exchange bitcoin for altcoin through Changelly.
Note: In this tutorial, we will learn how to Trade Bitcoin for Ethereum. Which is also an Altcoin.
What is Changelly
Changelly is a cryptocurrency exchange website. where you can swap any crypto to bitcoin and bitcoin to any crypto.
please pay close attention to this section as it will help you understand the process involved in exchanging BTC to other coins.
In order to start, you first need a bitcoin wallet. And also a wallet of the Altcoin of your choice and in this case Ethereum wallet.
Most of the Bitcoin wallets support Ethereum.
if you don’t own a bitcoin wallet Click here to learn how to create one.
- If you already own a bitcoin wallet you can keep reading.
Now that you have your bitcoin wallet.
To start exchanging Btc for Ethereum you should have funds in your btc wallet first.
Just as the Dollar is exchanged for other currencies. You need the exact amount you want to trade with to be ready and deposited in your BTC wallet.
How to trade Bitcoin for ethereum on Changelly
Now Its time to start exchanging.
Click here to Head over to Changelly.
press the menu icon by top left corner then press the signup button.
Click to signup and fill in your details then click “continue to exchange“.
After Successfully creating your free account its time to start swapping crypto.
Now when you log in you will see something similar to the screenshot below.
You have the choice to choose which crypto you want to exchange. and how much you want to trade.
You will see rates, ETH ( Ethereum ) set by default in order to change any other crypto you need click the ETH box. A dropdown will popup with a list of all the cryptos they accept.
for this tutorial, we will leave it at ETH, the same thing when you also click on the BTC box.
After choosing your Cryptos to swap and inputting your amount.
Click the “next step” to proceed, Now you need to enter your Ethereum wallet address.
Remember I choose to swap BTC to Ethereum so now you have to log into your Ethereum wallet and copy your Ethereum wallet address to paste it as the Recipient address.
If you don’t have a wallet yet for the crypto you chose. Click on “Haven’t got a wallet yet?” and choose any wallet provider to create a free wallet.
but since I already have an Ethereum wallet address I’ll paste it and then click the Next step.
The next step is to confirm your details, just like the screenshot below.
If all details are correct the “Click Confirm and make payment” to proceed to the next step.
Now we have come to the final step.
Here you need to send the exact amount of bitcoin to their wallet and they will turn it to Ethereum or your choice of Altcoin. Copy the Address and send the specified amount.
All you need to do is login to your bitcoin wallet then send the exact amount to the provided wallet address then wait for confirmation.
you have till 36 hours to make the payment or the transaction gets canceled.
After payment is made your Ethereum will be sent to the recipient address you provided earlier.
So that’s how simple it is to trade Bitcoin for other coins using Changelly.
Congratulations!!! Now you can easily Exchange Bitcoin to altcoin without the help of anyone.
Thanks to this article and also thanks to you for reading. Remember the best way to learn how to do something is to start practicing. So start swapping that BTC today.