Is it profitable to exchange Bitcoins to Ethereum?

Is it profitable to exchange Bitcoins to Ethereum?

Lester 

Most people try to mine Ethereum but then get frustrated with the high up-front costs.

This post will show you how to buy Ether instantly with any of the following payment methods.



visit here to exchange обмен биткоин на приват

There are many ways to buy Ether with a credit card and this section will discuss the three best options. Note that the fees will be around 3.5% for most options.

Coinbase

In the USA, Europe, Canada, and the UK, Coinbase is the easiest way to buy Ethereum with a credit card or debit card.

The fees will amount to 3.75% and you can buy instantly.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.

Coinmama

Coinmama is a reliable Ethereum broker that has been operating since 2014. They allow customers from nearly any country to purchase ether with a credit card or debit card. Coinmama has some of the highest credit card buying limits among all credit card brokers.

The company offers excellent customer support and has very fast response times. Coinmama also supports bitcoin and litecoin.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

eToro

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.

Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.

We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms

CEX

Bitcoin Exchange, Trading BTC USD, BTC EUR - CEX is a worldwide cryptocurrency exchange that supports most countries.

You can also buy other coins such as bitcoin, litecoin, Ripple, DASH and a few more.

The only countries that cannot buy ether with a credit card are: Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen.

We may receive compensation when you use CEX Please visit CEX for its exact pricing terms.

Buy Ethereum with Bank Account or Transfer

Buying Ether with a bank account will allow you to save on fees, although it takes longer than buying with a credit card.

Coinbase

Using Coinbase you can buy Ethereum with your bank account if you live in the following countries:

  • USA
  • Canada
  • Singapore
  • United Kingdom
  • Europe (besides Germany)

The fees will be about 1.49% per purchase.

For US users, the buy will take about 7 days because the ACH banking system is very slow.

Canadians can buy very fast in 1-2 days, and the same goes for UK and Europe if you use SEPA transfer to deposit to your account.

You can also sign up on Coinbase and then use Coinbase Pro. Coinbase Pro is Coinbase’s sister exchange. It is slightly more difficult to use but will allow you to buy ether with bank account for 0 fees.

Bitpanda

Bitpanda is a cryptocurrency exchange and broker based in Austria. You can now buy Ethereum instantly as well as bitcoin, Ripple, litecoins and some other coins.

The fees are not shown but instead included in the buy price. The premium is only about 1% usually, so Bitpanda’s fees are fairly low.

CEX

CEX is based in the UK and is one of the oldest crypto exchanges online. You can buy Ether with SEPA in Europe or with ACH from inside the United States of America.

What to Do Once You Buy ETH

Get an Ethereum Wallet

Before we move onto other Ethereum exchange options, we need to talk about storing your ETH.

Never store your ETH on an exchange! Instead, always withdrawal your Ethereum to an offline crypto wallet like the Ledger Nano X or any other wallet that you control.

Getting started with Ethereum wallets is a confusing process.

Luckily, we’re making it easy to decide which Ethereum wallet is best for you.

Don’t Forget to Back Up Your Wallet

The best way to backup an Ethereum wallet is to create a recovery seed. The recovery seed is a 12-24 word series of words that you input into a new wallet to retrieve coins at an address. If you lose your wallet or it gets destroyed, then you need this phrase to get your coins back.

There are some warnings to be aware of when it comes to backing up any wallet.

Buy Ethereum with Bitcoin

You can buy Ethereum with Bitcoin at nearly any cryptocurrency exchange. This is because most of the global Ethereum trading volume is actually done in the ETH/BTC pair, and not the ETH/USD pair.

Coinbase Pro

For US customers, Coinbase Pro has some of the highest volume and is a convenient way to turn your BTC into ETH, especially if you already used Coinbase Pro or Coinbase to initially buy Bitcoin. If so, you won’t even need to create a new account but can just immediately start trading your bitcoins into ETH.

In order to use Coinbase Pro, you have to sign up for a Coinbase account first.

Coinbase Pro had a flash crash of Ethereum a while back, but Coinbase paid everyone back for any losses.

Buy Ethereum with PayPal

Unfortunately, there is no easy way to buy Ether with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case.

You can, however, now use eToro to buy Ethereum, unless you live in the United States.

If you don’t live in the US, here are the steps to Buy Ethereum with Paypal on eToro (the same steps apply to Neteller and Skrill as well).

  1. Create your account.
  2. Select “deposit funds” on the main dashboard, and then choose your preferred payment method, entering the amount of you want to deposit.
  3. Click Continue.
  4. You’ll be redirected to Paypal to login (the same if you choose Neteller or Skrill) - log in to your account.
  5. Review the transaction.
  6. Click “Pay”.

Within a few minutes, your funds should be showing in your account and you can proceed to buy Ethereum.

Buy Ethereum with Cash

Whereas many Bitcoin buyers use the coins to send money internationally, most Ethereum buyers appear to be buying ONLY for speculative purposes.

So we’re still yet to see something that allows people to easily buy Ethereum with cash.

Like the methods above, you will first have to buy bitcoins with cash.

Once you’ve purchased bitcoins there you can use an exchange like Coinbase Pro to exchange your bitcoins for Ether.

Ethereum Decentralized Exchanges

Decentralized Ethereum exchanges are probably the best option for you if you’re looking to swap only between coins and ERC20 tokens.

You can swap tokens without the need to actually store your coins on an exchange, which removes the chance that you will be hacked or lose your coins in any similar way.

Watch out for fake “decentralized” exchanges which are not actually decentralized.

We’ve highlighted some of the best decentralized ETH exchanges below.

Uniswap

Uniswap is one of the fastest growing and most popular DEXs on the market in 2020.

On Uniswap, users can trade between various trading pairs via Uniswap’s smart contracts without handing over their coins to centralized exchange. Instead they are deposited into the smart contract which then handles the trades.


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