While Bitcoin is currently on the rise, it’s not the only cryptocurrency worth paying attention to. There are many promising altcoins and tokens out there, and many experts believe that they are currently capable of generating the best returns. Whatever investment decision you make, you may need to exchange Bitcoin for another cryptocurrency or for fiat currency (Brazilian reals, US dollars, etc.) – here’s a detailed look at the main ways to do this, compiled by the editors of cryptomore.com.
1. Exchange Bitcoin through Cryptocurrency Exchanges
The main tool for working with digital assets today is cryptocurrency exchanges . They allow you to exchange Bitcoin for other currencies and for fiat currency (if the platform supports it). Since BTC is the most popular cryptocurrency, it is supported by almost all popular platforms, with the exception of a few decentralized platforms that only work with certain blockchains.
The principle of working with cryptocurrency exchanges:
- Register and top up your BTC account by transferring assets to the address provided by the broker.
- Select a trading pair based on what exactly you want to trade Bitcoin for.
- Create a trade order to exchange cryptocurrencies at market value.
- Withdraw the received funds to an external wallet or use them for further trading.
As a useful additional feature for beginners, some sites offer quick exchange functionality without using a trading terminal. For example, on Binance, in the https://www.binance.com/buy-sell-crypto/convert , you can convert one cryptocurrency into another in the simplest way possible.
Examples of Cryptocurrency Exchanges with Bitcoin:
| Exchange name | Link | Do you work with the best segment of the countries? | Liquid pairs with BTC | Mandatory verification | Demo account | Proof of Reserves | Trading Fees |
|---|---|---|---|---|---|---|---|
| Binance | binance.com | sim | BTC/USDT, BTC/BUSD, WBTC/BTC | sim | sim | sim | Spot: up to 0.1%. Futures: up to 0.05%. |
| Bybit | bybit.com | sim | BTC/USDT, BTC/USDC | No | sim | sim | Spot: from 0 to 0.1%. Futures: from 0 to 0.06%. |
| OK | okx.com | sim | BTC/USD, BTC/USD, ETH/BTC | No | sim | sim | Spot: -0.05 to 0.1%. Futures: 0.005 to 0.05%. |
| MEX | mexc.com | sim | SOL/BTC, BTC/USDT, BTC/USDC | No | sim | No | Spot: from 0 to 0.2%. Futures: from 0.014 to 0.06%. |
| Bitget | bitget.com | sim | BTC/USDT, BTC/USDC | No | sim | sim | Point: 0%. Futures: up to 0.05% |
| Phemex | phemex.com | sim | BTC/USDT | No | No | sim | Spot: up to 0.1%. Futures: up to 0.06% |
| cooperative | huobi.com | sim | BTC/USDT | No | No | sim | Spot: from 0.0097 to 0.2%. Futures: from 0.005 to 0.05%. |
| Currency.com | currency.com | No | BTC/USD, LTC/BTC | sim | sim | No | 0.2% when trading without borrowed funds. 0.06% leverage trading fee |
| KuCoin | kucoin.com | sim | BTC/USDT | No | No | sim | Spot: -0.005 to 0.1%. Futures: 0.014 to 0.06%. |
| Gate.io | gate.io | sim | BTC/USDT | No | No | sim | Spot: from 0 to 0.2%. Futures: from 0 to 0.05% |
| EXMO | exmo.me | sim | Ethereum/BTC | sim | No | No | Spot: up to 0.1% |
| Payeer Exchange | payeer.com/trade | sim | BTC/USDT, BTC/USD | No | No | No | Spot: 0,095%. |
Pros:
- Large selection of exchange options. On some sites, the number of supported currencies is in the thousands.
- Additional features (margin trading, passive income methods).
- The rates more profitable and relevant.
- Bitcoin is supported by almost all popular exchanges.
Disadvantages
- Proof of identity may be required, although in the case of cryptocurrency-to-cryptocurrency exchanges this is usually not necessary.
- It is recommended to immediately withdraw assets to a cryptocurrency wallet to avoid the risk of the broker being hacked.
Continuing: list of best bitcoin exchanges .
2 Exchange Bitcoin through an exchange
A Bitcoin Exchange is a service through which you can quickly exchange BTC for another cryptocurrency or fiat currency. It is considered one of the simplest and most convenient methods even for beginners, as it allows you to work without identity verification (you only need an email) and without any other requirements for the client.
The Bitcoin exchange through an exchange is carried out as follows:
- Find a suitable service using the BestChange website or based on reviews on independent websites, e.g. fish .
- Select Bitcoin as the donated currency.
- Select a payment method from those available in the service. As a rule, several popular cryptocurrencies, various banks, payment systems, cryptocurrency exchange codes, and mobile operators are supported. Currencies can also be different (reals, dollars, hryvnia, tenge, etc.).
- Click “Exchange”, “Produce App” or similar button.
- While the timer is running, usually 15-30 minutes, pay through the app, i.e. transfer BTC to the address provided by the exchange.
- Please wait for your order to be processed and for the coins to arrive at the service. This can take up to an hour.
- As soon as the exchange receives bitcoins, it will immediately send the necessary funds to the account you specified.
You should not trust unknown services that do not have reviews and are not registered on major monitoring sites. You may not receive anything in exchange, losing your money.
Examples of exchanges we have personally verified :
| Exchange name | Website | Minimum amount to exchange BTC for a ruble card | Fiat currencies | Release year |
|---|---|---|---|---|
| change him | mchange.net | 0,002 BTC | USD, Real, EUR, KZT | 2018 |
| Matthew | matbea.com | – | Real | 2014 |
| 0,0021 BTC | USD, Real, EUR | 2016 | ||
| Cosmotrocador | cosmochanger.cc | 0,0081 BTC | USD, Real, EUR, UAH | 2021 |
| Platv.co | platov.co | 0,01 BTC | USD, Real, EUR, KZT | 2017 |
| Prostocash | prostocash.com | 0,0043 BTC | Real, USD, EUR, UAH, KZT, BYN | 2017 |
| 60check | 60cek.org | 0,0031 BTC | USD, Real, EUR, UAH, KZT, BYN | 2016 |
| Nicechange | nicechange.org | 0,0057 BTC | USD, Real, EUR, UAH, KZT, BYN | 2018 |
| Baker | baksman.org | 0,004 BTC | USD, Real, EUR, KZT | 2016 |
| ExchangeKey | exchangekey.org | 0,001 BTC | USD, Real, EUR | 2020 |
| Bitality | bitality.cc | 0,0081 BTC | USD, Real, EUR | 2020 |
| magineticexchange | magineticexchange.com | 0,0021 BTC | USD, Real, EUR | 2011 |
| 24PayBank | 24paybank.net | 0,0012 BTC | USD, Real, EUR | 2016 |
Pros:
- Minimum user requirements.
- They are not difficult to learn.
- Opportunity to earn money through a referral program.
- For regular use of the same service, a cumulative discount is usually provided.
Disadvantages
- Finding an exchange that meets all the parameters can take some time.
- The choice of cryptocurrencies for exchange is usually small.
- You may end up on fraudulent exchanges.
3 P2P platforms for Bitcoin exchange
Bitcoin is supported by many platforms that offer the opportunity to buy and sell coins directly between users. These platforms act as guarantors of the transaction, arbitrators in case of disputes, and providers of escrow accounts where the cryptocurrency is temporarily stored until payment is made from the buyer to the seller. But users' funds are transferred directly between their wallets.
P2P Exchanges work like this:
- The user registers with the broker and goes to the section he needs – to exchange Bitcoin for fiat currency, he needs the “Sell” section.
- Using filters (amount of funds, desired receiving currency, convenient payment methods), find suitable offers.
- In the search results, find the options that seem most profitable. Also take into account the Ranking and reputation of the counterparty.
- Reply to the ad and make a transaction with the seller, providing him with the details for BTC payment.
After receiving your payment, do not forget to confirm it on the website. Only after that the buyer will receive the cryptocurrency. Also help other users by leaving Reviews about your counterparty's work.
Recommended platforms:
| p2p platforms | Website | Available cryptocurrencies | Verification (KYC) |
|---|---|---|---|
| Binance P2P | binance.com | BTC, USDT, BNB, ETH, BUSD, DOGE, DAI | Mandatory |
| Bybit P2P | bybit.com | BTC, USDT, ETH | When using some currencies, up to 1,000 USD (total transaction volume) is not required |
| OKX P2P | okx.com | BTC, USDT, ETH | Mandatory |
| Garantex | garantex.org | Bitcoin, Ethereum, Bitcoin, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum | Not required. There are several levels |
| HTX P2P | huobi.com | USDT, BTC, ETH, HT, EOS, HUSD, XRP, LTC | Mandatory |
| Kucoin P2P | kucoin.com | USDT, BTC, ETH, USDC | Mandatory |
| Pexpay | pexpay.co | BTC, ETH, BNB, BUSD, USDT | Mandatory |
| Skycrypto | skycrypto.net | BTC, ETH, USDT | Not required |
| MEXC P2P | mexc.com | USDT, BTC, ETH, EOS, XRP, TRX, TUSD, USDC | Mandatory |
| Gate P2P | gate.io | USDT, BTC, ETH, EOS, DOGE | Mandatory |
| Bitget P2P | bitget.com | BTC, ETH, USDT, USDC, BGB | Mandatory |
| Phemex P2P | phemex.com | BTC, ETH, USDT | Mandatory |
| PaxFul | paxful.com | BTC, USDT | Mandatory. There are several levels |
| He decided | hodlhodl.com | Bitcoin | Not required |
| Matbea P2P | matbea.com/p2p | BTC, USDT, ETH, LTC, BNB and others | Mandatory |
| BitPapa | bitpapa.com | BTC, ETH, USDT | Not required |
Pros:
- Various payment directions, payment systems and most popular banks.
- There is no need to entrust your funds to third parties.
Disadvantages
- It is not always possible to find a suitable offer.
- To generate ads yourself, verification may be required.
4 Exchange Bitcoin via a cryptocurrency wallet
Bitcoin Exchange in Guarda Wallet
Today, many cryptocurrency wallets support several popular coins at once and provide the opportunity to instantly exchange one for another. If you use a service that supports Bitcoin and altcoins, check if it has an integrated exchange where you can exchange Bitcoin. The section may be called Exchange, Swap, etc.
As a rule, transactions within an account are completed quickly and with a minimum commission. Some services require verification to perform such operations (for example, in a Blockchain wallet you can change coins from one to another only after confirming your identity). The process itself includes a minimum of actions. You must specify:
- certain currency;
- the currency received;
- amount.
The fee is automatically recalculated based on the current market price. On some wallets, the exchange is completed instantly, on others, you will have to wait for the system to process the request. Also pay attention to restrictions – sometimes developers prohibit exchanges for users from certain countries. This is only possible on centralized services.
Examples of wallets with Bitcoin exchange function : Exodus , Ledger , Jaxx , Guard , Coinomi , Coinbase and others.
Pros:
- Maximum convenience, without the need to use third-party services.
- There is no need to lose money on fees when depositing and withdrawing funds from your wallet.
Disadvantages
- Some services require verification.
- There is no way to search for the most profitable rate, it is defined by the system.
5 Bitcoin-Backed EPS
Exchange Bitcoin for Tether via Capitalist Payment System
Electronic payment systems, with which you can pay for goods and services on the Internet, often also provide the opportunity to exchange one currency for another. The principle of operation is very simple, the user has several accounts on one account – for example, Bitcoin, Ethereum, dollar, euro. If necessary, you can make a quick exchange from one account to another. The commission is minimal or not charged at all. The exchange rate is set at the current market rate.
Some EPS allow you to exchange any of the supported assets for any other, and some set restrictions – for example, cryptocurrency can only be exchanged for cryptocurrency, and fiat currency only for fiat currency. Before choosing one or another system, pay attention to this point.
Payment systems where you can exchange Bitcoin: Capitalist , Payeer , AdvCash , Neteller , Skrill , Perfect Money .
Pros:
- Payment systems, as a rule, have licenses for their activities.
- Using EPS, you can pay online in a convenient way.
- Useful interface and ease of use.
Disadvantages
- Limited selection of electronic payment systems that work with digital currencies. Although this list is gradually growing as the popularity of cryptocurrency grows.
6 bots no telegram
The messenger supports the functionality of creating bots suitable for exchanging currencies for fiat or vice versa for buying them. Just select the desired exchange direction via commands in the chat, generate and pay through the application.
Examples of exchange bots: @Baksman_wallet_bot , @btc_change_bot , @BitpapaExpressBot .
What altcoins can I trade Bitcoin for?
It is believed that any coins that are in the top 30 by capitalization are a good option for replenishing an investment portfolio. Most of them can show good movements at any time. However, experts identify several flagships of the cryptocurrency market that are reasonable for purchase in the current conditions:
- BNB – Binance exchange currency
- Ethereum, which is in the process of launching a new network.
- Litecoin, which has no prerequisites for decline at the moment.
- Ripple, which showed a very good increase in November.
Some experts expect altcoins to rise faster than Bitcoin soon. Others disagree and express the opinion that they have already exhausted their potential. In any case, you should invest cautiously, observing the basic rules for forming an investment portfolio.
FAQ: Frequently Asked Questions
How to exchange Bitcoin for fiat currency?
To do this, you can use exchanges and p2p exchanges, as well as classic cryptocurrency exchanges, telegram bots and electronic payment systems.
How to exchange Bitcoin for another cryptocurrency?
In the same way as indicated above, there is always the opportunity to make an exchange, for example, for stablecoins (USDT, BUSD).
How to trade Bitcoin on Binance?
Through the spot market, Binance Converter. There is also the opportunity to withdraw to fiat currency through the p2p market.
How to trade BTC cryptocurrency on Binance via spot?
“Trade” -> “Spot” section and create a sell order. You can do this even faster via the “Trade” -> Binance Convert section, and market and limit orders are also available there.
How to find a favorable exchange rate?
If you use exchanges, it is useful to choose a profitable one through BestChange (data is updated every five seconds). For cryptocurrency exchanges, CoinGecko and Coinmarketcap aggregators are used, which also track prices in real time.
How can Binance P2P help you exchange Bitcoin for Brazilian Real?
Offers from other users are collected here, so you can easily find a user who is ready to buy cryptocurrency from you on conditions that suit both of you and pay in fiat currency.
Which payment systems support Bitcoin?
Payeer, Capitalist, AdvCash, Perfect Money.
How to exchange Bitcoin to Sberbank or Qiwi via an exchange?
Find a suitable exchange, for example using BestChange, indicate the direction, amount, create and pay through the application.
Which Telegram Bots Will Allow You to Trade Bitcoin Online?
For example, from the exchanges Baksman, 60cek, AbcObmen, Prostocash, Bitzlato platform, Bitpapa.
Is it worth exchanging Bitcoin for altcoins?
It depends on your investment strategy. It is believed that a crypto investor’s portfolio should consist of 25-50% BTC, with the rest of the assets being riskier. This ratio can be balanced based on market conditions.
Conclusion
You can exchange Bitcoin in several ways. We have described the most reasonable and safe ones. There are other options, for example, with direct exchange or spot sale, but they are unsafe and we do not recommend resorting to them. If where you live there is a cryptocurrency machine, which is very rare in Brazil, you can also use it.
The most suitable option for beginners is a Bitcoin exchange. Professionals often choose cryptocurrency exchanges due to their advanced functionality and trading tools. Either way, each option has its pros and cons and each deserves attention.