Ethereum functions as a decentralized open-source blockchain for executing smart contracts. Its cryptocurrency, Ether (ETH) is the second largest by market capitalization after Bitcoin (BTC).
What is Bitcoin?
Bitcoin (BTC) is the first and most recognized cryptocurrency that ushered in a new financial system where transactions can occur without needing a third party. The aim of Bitcoin is to promote decentralization and financial freedom. Therefore, it is not regulated or controlled by any government and allows users total autonomy over their transactions.
Furthermore, bitcoin transactions are usually public and transparent. Every transaction is documented on the blockchain and is available to all parties. These transactions, which are usually completed within 40 minutes, follow a protocol that cannot be altered by any party.
Bitcoin is a scarce digital currency—with a maximum supply of 21 million. The rate at which bitcoin is pushed into circulation is halved every four years.
What is Ethereum?
Created in 2013 by Vitalik Buterin, Ethereum (ETH) was invented to power the Ethereum ecosystem. This means that Ethereum users can use ETH to pay for their digital innovations built on the Ethereum blockchain. However, ETH can be used by other crypto users outside the ecosystem to pay for products—provided it is accepted.
The cryptocurrency has a market cap of over $156 billion, a total supply of 122,373,863 ETH, and a market value of $1,287 as of press time. It has an average transaction time of 5 minutes.
Ways to Swap BTC for ETH
Centralized exchanges such as Binance and Kucoin are veritable platforms for swapping BTC for ETH. Also, decentralized exchanges, particularly exchange aggregators, are useful tools for crypto swaps. Swapzone is an example of an exchange aggregator.
Swapzone gathers exchange rates from multiple exchanges. Thus, to exchange BTC for ETH, a user would have to:
- On Swapzone’s swap page, select the BTC to ETH pair to see the available exchange rates.
- Select the appropriate exchange and then proceed with the exchange.
What is Swapzone?
As a non-custodial exchange aggregator, Swapzone gathers exchange rates from multiple exchanges with the best real-time BTC to ETH prices, liquidity providers, and the lowest exchange fees. It constantly monitors the best rates for diverse crypto pairs supported by over 15 exchange services.
In addition, Swapzone provides information about these exchange services so that users can make informed decisions before proceeding with their swap. It allows users to make instant exchanges on Swapzone without any registration.
