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Cryptocurrencies may be exchanged for a variety of reasons, including to leverage your investments and mitigate hacking risks.
If you plan to exchange Ethereum for Bitcoin in the near future, this post has everything you need to know, including where to secure the best exchange rates and how to avoid paying high fees on your conversion.
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Xe Money Transfer
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Initiate transfers 24 hours a day, 7 days a week
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Wise – Multi-Currency Account
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Calculating how to convert Ethereum to Bitcoin is fairly simple. You can either make the conversion using a calculator or do it by hand. The symbol for Ethereum (ETH) is Ξ. and the symbol for Bitcoin (BTC) is ₿.
Using a currency conversion calculator is often the most efficient way to convert cryptocurrencies. Since the value of these currencies fluctuates often, using a calculator is often the best way to get the most up-to-date conversion rate.
Keep in mind that these calculators don’t account for any of the added fees that may come along with using a currency exchange. Most cryptocurrency exchanges use a tiered-level fee structure that charges a percentage of your 30-day trading volume.
For example, Coinbase follows a maker-and-taker model and charges a 0.60% taker fee and a 0.40% maker fee on trades under $10,000.
The other option is to do the calculation manually using a simple mathematical formula. However, in order to do this, you need to know the current exchange rate for the cryptocurrencies you intend to trade.
At the time of writing, the current conversion rate is Ξ 1 is equal to 0.069 ₿.
Once you know that information, multiply the amount you have in ETH by the current exchange rate. The resulting number will show you the amount of Bitcoin you’ll get.
Let’s say you have 100 ETH and would like to figure out how much Bitcoin you would have to invest. Using the current exchange rate, the formula for your conversion would look like this:
Ξ 100 x 0.069 = 6.9 ₿
When you’re ready to buy Bitcoin, it’s a good idea to plan ahead to ensure that you pay the fewest fees. Here are three ways to get the currency you need while minimizing the fees you’ll be charged:
Money Transfer Partners
1
Xe Money Transfer
98+ currencies available to transfer to 130+ countries
Initiate transfers 24 hours a day, 7 days a week
Xe offers low to no fees on money transfers
2
Wise – Multi-Currency Account
55 currencies
$0
Direct debit, wire transfer, debit card, credit card & Apple Pay
3
CurrencyFair
Hold over 20 currencies
Send and receive to over 150 countries
Money transfers up to 8x cheaper than traditional banks
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