3 websites to consider while converting Bitcoin to Altcoin

Ever since the introduction of Cryptocurrency that being backed by the Blockchain Technology- Bitcoin has been the foremost and the topmost cryptocurrency since 2009. While Altcoin that can be defined as an (ALTernative — cryptoCOIN = ALTCOIN) is a categorical term for all the coins other than Bitcoin. The first Altcoin was introduced in the year 2011 named “Namecoin”. However, the other famous altcoins are Ethereum, Litecoin, NEO and so on. There has always been a dramatic cold war between both the categories of cryptocurrency being the Bitcoin and the Altcoins. Also, it is wise to know that investment in distinctive and variant kinds play a safe role. It is very important to understand and to choose the well-found ground website while converting Bitcoin to Altcoin.

Here are 3 known websites for the conversion of Bitcoin to Altcoin you could consider using:

• Changelly
• Shapeshift
• Coinswitch

Also Read, What is the difference between coins, altcoins and tokens?

1. Changelly:

Changelly is a non-custodial cryptocurrency exchange that states itself to be a fast and secure mode to purchase or exchange of over 150+ cryptocurrencies and has approximately 2 million customers. It facilitates secure transactions, intuitive interface and favourable exchange rates. Changelly does not charge any unreasonable fees however for crypto-to-crypto swaps it consists of a fixed charge of 0.25% fee. Changelly has partnered with Binance, Exodus, Trezor and other such well-known exchanges and wallets.

How it works:

https://changelly.com/

• One needs to choose the crypto pair that needs to be exchanged.
  (Here we will take BTC and ETH)
  (A service fee of 0.25% and a network fee will be charged)
• The next step is to click on the ‘Exchange’. Confirm the transaction.
• Sign in/ Sign up with an e-mail to save the history of the transaction.
• Enter the receiver’s address and the required amount that needs to be sent.
• Click on the ‘Next’ button and all the details will be shown.
• If everything is okay, click on ‘Confirm and Make Payment’.
• On the next page, the QR code and Bitcoin wallet address will be shown
  (in which one needs to send BTC to convert into ETH)
• You will receive the Crypto in your wallet in minutes.
• And you will be notified on your email.

2. Shapeshift:

Shapeshift is an API and a web platform to provide Bitcoin and Altcoin conversion that strives to facilitate a quick swap between assets with a seamless, efficient, safe and secure environment. It is a trading platform that offers zero-commissioned trading. The crypto companies that Shapeshift works with are Jaxx.io, Edge, KeepKey and so forth.

How it works:

https://shapeshift.io/#/coins

• Log in/ Sign up to Shapeshift account.
• Choose the assets for trading/ exchange as a ‘Deposit’ or ‘Receive’ under the ‘Choose which coins to trade’ option.
  (For instance, an exchange between BTC to ETH, so BTC will be chosen in the Deposit and ETH in Receive)
• One has to choose either Quick or Precise type of order as per the requirement. (Quick Order- Any amount can be deposited to the address without time restrictions while letting you create a reusable deposit address. Precise Order- An exact deposit amount in advance is required, also sending and confirming of the deposited coin is important in a certain time period.)
• Provide the receive and deposit addresses, accept the terms and condition’s checkbox and click on the Start Transaction.
  (Here, Receive is ETH and Deposit is BTC)

3. Coinswitch:

Coinswitch is a cryptocurrency exchange platform that consists over 300+ cryptocurrencies, altcoin, digital currencies, cryptocoin of approximately more than 45000 pairs to exchange, it also states itself to be one of the largest converters for cryptocurrency. One does not need to create an account to trade on any exchange and thus perform anonymously with the underlying exchange.

How it works:

https://coinswitch.co/

• One needs to select the ‘You Send’ and ‘You Get’ dropdown in accordance with it to show the exchange rate and then ‘View all offers’ needs to be clicked. (Here the ‘You Send’ will be BTC and ‘You Get’ will be ETH)
• The amount of BTC that needs to be exchanged has to be entered by it will show the amount of ETH exchange rate.
• Click on the ‘View All Offers’ button.
• The list of all the exchanges with the amount one receives will be stated
  (Here it will be ETH)
• Choose the best exchange for conversion.
  (Here it will be from BTC to ETH)
• The wallet address needs to be provided and the coins will be received in the wallet after the completion of the exchange.
  (Here ETH wallet address needs to be given and the coins will be received in that wallet)
• Double-check of the address and reading of the terms is required before the ‘Next’ button.
• It will show you a receiving address. Send BTC from your wallet to the address mentioned.
• When the exchange will receive your BTC the conversion takes place.
• One can always track their transaction on the blockchain with the website’s links.

These are the steps included for Changelly, Shapeshift and Coinswitch for converting Bitcoin to Altcoin.