How to Exchange Tezos to Bitcoin at the Best Rate?
The majority of the first-generation blockchain networks suffered from several limitations that could only be solved through upgrades. However, sometimes upgrades might not be enough. Therefore, making a hard-fork the only solution, which affects the whole network as Bitcoin Cash did. Tezos solves this problem by acting as a self-amending blockchain powered by an on-chain voting mechanism.
Bitcoin, on the other hand, is the first successful cryptocurrency to ever exist. It has by far the largest cryptocurrency market cap. In Q1 and Q2, Bitcoin has recorded some astronomical growths in prices making it the go-to investment cryptocurrency for most speculative traders. In this article, we will take a closer look at both cryptos, discussing the various differences between them. Stick around to the end for information on how you can convert Tezos to Bitcoin.
XTZ vs BTC
Unlike Bitcoin, Tezos is an open-source PoS blockchain network that offers P2P transactions via its native XTZ cryptocurrency known as Tezzie. It launched its initial coin offering in 2017 raising a whopping $232 million. Arthur Breitman was the brains behind Tezos who went with the pseudonym “L.M. Goodman.” His aim was to provide a new solution to an issue that most blockchain projects face today; protocol development.
Bitcoin’s network, for instance, is one of the largest case studies in support of Tezos’ objective. A lack of consensus within the Bitcoin community has to the creation of several hard-forks such as Bitcoin Cash, Bitcoin SV, among others. The solution that Tezos comes up with is a “self-amending crypto-ledger.” It enables the network as a whole to fully develop ensuring that no new protocols are built on a different version of the parent chain.
Why Should I Convert Tezos to Bitcoin?
In January this year, XTZ managed to hit an all-time-high price of $7.785 within the first week of May. However, by the middle of the month, it was trading at $3.258 which represents a 41.85% drop. While it did make major strides, there wasn’t as much profitability as one would have expected. Therefore, making Tezos perfect for a short term investment and trading strategy.
Bitcoin, on the other hand, managed to hit an all-time-high of $65,000 in April. Since then, the cryptocurrency has fallen more than 50% and erased all of its gains. For most people, the outstanding performance in Q2 is proof that Bitcoin’s price will continue to surge in the future. Therefore, this represents an excellent opportunity for you to convert your Tezos to Bitcoin as there is a lot to gain when prices start to rise again.
How to Convert Tezos to Bitcoin?
To convert Tezos to Bitcoin, you will require to find an XTZ to BTC exchange that can process the transaction. For this, we recommend that you take advantage of Swapzone as a Tezos to Bitcoin exchange. Here’s the whole step-by-step process:
Step 1. Go to the Swapzone website.
Step 2. Look for the “Select Pair” tab and select XTZ to BTC pairing.
Step 3. Enter the amount of Tezos that you wish to exchange for Bitcoin. Swapzone will then provide you with a list of the best rates for XTZ BTC coins from several exchanges. Go ahead and pick the one that fancies you.
Step 4. Hit the “Exchange” button and provide your wallet details as that’s where your Bitcoins will be sent.
Step 5. Once you have entered your details, ensure that every detail is correct. If everything is okay, click on “Proceed the Exchange.”
Step 6. Wait for your deposit to be processed and the exchange process to be finalized.
Step 7. Your Tezos to Bitcoin exchange will finalize and Bitcoin will be sent to your wallet address. After the transaction, take a moment to rate us so that we can gather enough information about the exchange for any and all future improvements.
Is It Safe to Exchange Tezos to Bitcoin Using Swapzone?
Definitely yes! Swapzone is a non-custodial platform that doesn’t handle, control, or manage any of your funds. Therefore, it’s perfectly safe for you to perform a Tezos to Bitcoin exchange on Swazone. The best part is that Swapzone doesn’t charge you a thing for this. Furthermore, their high TrustPilot rating and positive reviews mean that they are highly trusted by the crypto community.
How Can I Get to Know the Current Exchange Rate of Tezos & Bitcoin?
The process is pretty simple. Just head on to the Swapzone website and open it. Enter the amount of Tezos that you wish to convert to Bitcoin. Swapzone will provide you with a list of different exchange rates offered by different cryptocurrency exchanges.
Why Is Swapzone the Best Exchange Aggregator to Convert Tezos to Bitcoin?
Swapzone is the best XTZ to BTC exchange service. Not only does it provide you with the best exchange deals in the market, but it also does all of this for free. Additionally, their site is full of helpful tutorials and an easy to navigate interface that beginners can utilize.