Why convert crypto to Bitcoin?

Contents

Exchange crypto at best rates

Bitcoin is a coin that uses peer-to-peer technology. The technology that has no third parties that are connected to the financial offices and need a pseudonym. BTC cannot be traced and has no financial fees unlike the real currency, however, it doesn’t exclude transaction fees.

All of these points also make Bitcoin one of the ideal currencies for the exchange of an investment in it. Because of its security, pseudonymity, and other things more people support bitcoin, making it quite stable in terms of its value and rate.

What is Bitcoin?

Bitcoin is a cryptocurrency that was first introduced in October 2008. It all started with a whitepaper published by an anonymous developer going by the name Satoshi Nakamoto. A whitepaper is a kind of report given by the creator with the idea of getting people to know the concept and mechanisms of the given blockchain-based crypto coin. In terms of crypto, blockchain means a whole structure that has specific information (the block) stored in a ‘’chain’’ that is the public database. Blocks consist of information about the time, date, and amount of a transaction and have a unique code called a hash. That hash allows us to tell apart two blocks ‘’created’’ at the same time and lets the block gets added into the chain.

Noticeable features of Bitcoin

Most importantly is that the whitepaper gave the idea of the transactions with no financial parties involved in the operation and with a clear network so that the fact of a transaction can be seen. The main features of BTC as a cryptocurrency are:

Inability to reverse transaction:
No one can stop one person from sending a transaction to another person and/or company. Not the person that made the transaction, not the person that received it, not the government of your country. It might be a bit risky in some terms, yet it allows us to secure transactions at some point.
Being global and fast:
This aspect speaks for itself: transactions can be done in a matter of seconds around the entire world and are verified in terms of minutes, which is very convenient.
No real-world identity needed:
As previously mentioned, the government cannot stop a person from making a transaction, therefore there’s no need for any real-life information and/or real-life identity. Bitcoins are received on address — a random chain of letters and numbers about 30 characters. That makes it impossible to connect real-life identity and the address with an account or a transaction. However, it doesn’t mean that Bitcoin is anonymous. There’s still a need to protect one’s identity and it still requires a pseudonym.
Security:
Bitcoins are locked in a cryptography system with public keys. The transactions can be done with a private key — a piece of data that allows spending BTC and works as an online signature. It proves that the owner of the wallet is committing transactions. Both public and private keys are a long string of letters and numbers that have been mathematically encrypted with an algorithm. There’s no way someone can guess a private key for example.

Is Bitcoin safe?

But there might be a question arising — are bitcoins safe? To which there’s an answer — it is, most of the time. Not only the person making transactions guarantees security, but also bitcoin itself has some strong sides regarding security, some of which were mentioned above. Some people may be confused by the fact that all the transactions are transparent and available to other people to see. But that fact only ensures the safety of bitcoin, making it impossible to fraud or scam anyone. However, there might be some difficulties during different periods. Bitcoin is still an experimental cryptocurrency and has many possibilities to improve. But with every possibility come challenges that might slow down the process of confirmation. Or, maybe, the transaction fees might increase. However, it’s all a part of a big process that has been going on literally over a decade. Such things as transparent transactions and somewhat unstable markets might scare people off at first. But the latter point is a normal thing for every market. Including popularity, transparency, and usage in daily transactions it’s predicted that the bitcoin value might reach around $50000 in 2023.

How to earn Bitcoin?

Mining (and Trading):
There’re several ways to get one’s hand on Bitcoin. First of all, it can be mined. That process is based on mathematical algorithms. They need to be solved to get a new block into a blockchain. People that proceed with bitcoin mining are rewarded with transaction fees and also are motivated by certain things. This might be a release of a new bitcoin, as an example. People who mine can be considered as a decentralized authority of a currency that helps to enforce the credibility of that particular crypto. The mining process also lends credence to what is bitcoin worth in value and pricing.
Investing:
However, Bitcoin can be acquired with other means, such as buying it with other currencies using cryptocurrency exchange platforms. It’s a type of platform that’s sort of similar to investing in stock exchange using brokerages. There’re two people in an exchange process — a buyer (or a taker) that places an order that’s sold after a cryptocurrency that they want is available to a seller (or a maker) that has the needed currency. To assemble a deal, the platform helps with matching buyers with sellers judging by the best match in prices. Then the transaction is made.

In other words, people who trade Bitcoin have a short-term interest in it and are able to make money via selling the currency, while those who invest in it see the long-term potential of it, including growing rates that affect the value itself.

How much is a Bitcoin worth?

Some people may think about bitcoin value, to which there’s no particular answer. The currency of it can dramatically rise just as it happened in 2017 when BTC spiked from $1000 to $19000. In 2020, it has risen past $24,000 on the back of bitcoin halving. To those who might wonder what bitcoin halving is – it is the reduction in rewards for mining each block and it happens every four years, reducing the pace of production of each new bitcoin.

The price of BTC alone is dependent on different factors, such as the size of the network that mines it. It takes more time and money to mine, therefore the cost of producing new bitcoins also rises. Right now the BTC value stays around $8000 to $9000 per bitcoin. Yet it is quite rare to get a hold of a whole bitcoin — it’s rather divided into smaller amounts, up to a hundred-millionths of a bitcoin.

Reasons to exchange to Bitcoin

For some people trading can be a better option to acquire bitcoin is to use exchange platforms. For instance, if a person already has any other cryptocurrency and all that they need is to find the most suitable exchanger for that, and many platforms are able to help to find that match, just like Swapzone that aggregates offers from notable platforms and also offers to choose the best course and the most fitting exchange rate. There might be many reasons why a person would be interested in exchanging one currency to another — in terms of Bitcoin it might be the stability of the currency, the long-term prognoses that predict an uptrend, and also it still has a dramatic influence over the crypto market, and basically, the rates of bitcoin might be one of the most stable in a current time, hence all of the good prognoses.

Conclusion – Bitcoin as an asset

There’s absolutely no way to find the perfect cryptocurrency or tell whether it’s a good time to invest in Bitcoin or any other currency. Yet many strong points are supporting Bitcoin’s stance as one of the most secure, reliable, and recognized cryptocurrencies. The whole history of it, starting from the whitepaper and continuing with its major spikes and other events has a lot to offer. It states the fact that there are a lot of reasons why people choose Bitcoin, not to mention the security aspect. There is way more to unravel about the mining process, forks, spikes, and other moments. Not to mention the amount of news considering bitcoin, that get published in really short periods, and that would be impossible to cover it all. Yet it’s possible to find the exchanger that you might like and that would be the best for you. The way it can be done is through analyzing different aspects of numerous exchangers — especially the speed of exchange, the anonymity of users, and their reviews. All of these aspects combined would make finding the best-suited exchanger easier and more efficient. These processes are made easier by using exchange platforms, that can show rates of other exchangers, helping you choose the best one.

How to get Bitcoin?

Swapzone accumulated all the convenience of a swapping service along with the best rate option and safety of the whole process of the exchange. There is no need to use any supporting documentation, nor registration in the system.

To exchange Altcoins to Bitcoins with us is as simple as that:

Go to Swapzone.
Select the currency you want to exchange in the Deposit list.
Select the currency you would like to have in the Recieve list.
You will see the best rates of our partners available for you in the next field where you just need to choose the most profitable one.
Click the Exchange button to proceed. Enter the amount you want to exchange in the Exchange field.
You will then see the estimated value you are going to receive after the exchange. Please, note that the amount you see can be changed due to current rate fluctuation.
Enter the recipient’s address. Make sure you have entered the information correctly. The exchanged currency you need will be sent to this address.
Check the information once again. If everything is correct, push the Proceed the Exchange button.
After that, you will see the deposit address in the Top upfield. You need to send the necessary amount of currency you want to exchange to this address.
Allow the transaction some time to proceed and the Coins you need will be transferred to you!