How to exchange Bitcoin to Beam?

Beam exchange – How to exchange Bitcoin to Beam?

Bitcoin was first introduced by Satoshi Nakamoto in 2009 after the financial collapse of 2009. Beam, on the other hand, was launched relatively recently, in 2018, however, the project has an ambitious goal of revolutionizing the privacy landscape of the cryptocurrency market.

What is Beam?

Beam is a cryptocurrency with the aim at exploring confidential DeFi and to enable the users to have full control over their financial assets. With privacy of its users as its top priority, it has recently received immense attention. It was launched in March 2018 which still makes it a newcomer since many other cryptocurrencies have been around for a while now.

What makes Beam cryptocurrency highly privacy-oriented and confidential is its protocol that combines two different ones. The first one is known as the Mimblewimble protocol. It uses the PoW (Proof of Work) mechanism and CT (Confidential Transactions) protocol, both of which are specially designed for maximizing privacy. And it does so without dropping the scalability levels.

This protocol is quite similar to the one that is used in Bitcoin. Both of them are based on the Unspent Transaction Output (UTXO). However, what differentiates the two is that Mimblewimble stores none of the addresses of the transactions made, and the values of UTXO are rather encrypted by the blinding factors. It makes it easier to hide information on transactions and addresses from the third party and makes Beam anonymous and free from most of the potential risks and breaches.

To further maximize privacy, Beam makes use of another protocol, LelantusMW, which tends to offer the users anonymity that ranges up to 64 kilobytes. To further strengthen its privacy game, the Beam team is creating a new blockchain that would not only provide a confidential, and decentralized medium of exchange but also a strong independent community that would aid in the process of strengthening the Beam connection.

Key Features

Now that we have had an in-depth look at what Beam is, we must fully understand its key features. Key features of every cryptocurrency tend to be the determinant of whether a user decides to join its ecosystem or not. Some of the very important features of Beam include:

  • Atomic Swaps and DEX
    What this feature specifically does is that it enables the exchange between Beam and Confidential Assets to take place in a decentralized manner. This is obviously done without the interference of any third party, no matter how trustworthy it is, granting the desired level of privacy to its users.
  • Excellent Usability
    The Beam cryptocurrency is highly renowned on the market because of its aesthetics and usability, especially when it comes to the Beam wallet. It can be downloaded through both the App Store and Google Play and has a dashboard for better budget management. What makes them highly convenient to use is their compatibility with the majority of the operating systems like Windows, Mac, and Linux, etc.
  • Scriptless Script
    Beam makes use of the technology known as the “scriptless script” which allows it to not remain confined to transferring of value. In order to fully maintain the uniqueness of the blockchain, it enables the users to perform different sorts of transactions. These include atomic swapping, escrow, time-locked transactions, etc. Swaps are cheaper and faster than those of centralized platforms.
  • The opt-in audibility
    Beam implements the mechanism that enables users to attach already signed invoices or contracts to transactions. These invoices are cryptographically protected and forgery-resistant. Some of the auditors are then allowed to examine the documents that are attached. It creates a transparent and foolproof environment within the blockchain realm.
  • A long-term player
    What makes Beam a long-term player on the cryptocurrency market is its prime focus on its sustainability. To begin with, it is open-sourced which makes it ready to be implemented from the very beginning. Not only this, but it also uses the Beam Growth Pool that awards the Beam community for their contribution, receiving 20% of the entire block mining rewards. This is a highly efficient and effective tool for the promotion and development of cryptocurrency.
  • BeamX
    BeamX is a confidential and scalable DeFi platform of the Beam cryptocurrency which is implemented through Beam Shaders, which is somewhat similar to Ethereum smart contracts . It not only consists of decentralized bridges and atomic swaps but also an in-wallet dApp store. This platform is also an exhibition of the successful Beam project and shows how it has the potential to make it big in the coming years with the addition of NFT tokens and wrapped tokens.

These are only some of the many key features of Beam that have paved its way into the crypto market. The uniqueness that this cryptocurrency possesses certainly makes it very important as far as the domain of privacy coins is concerned.

Where to exchange Beam?

If you’re eager to support the Beam platform, you might be wondering where your Bitcoin to Beam coin exchange should take place. Users often feel that it is extremely complicated to exchange cryptocurrencies. But, in reality, it is a fairly simple procedure, especially with exchange aggregators like Swapzone operating on the crypto market.

Swapzone partnered with a myriad of exchanges to assist users in converting their assets to another currency. It provides users with a number of options to choose from. Moreover, with low transaction fees, and minimal time consumption, it helps users to convert their digital assets with ease. Platforms, like Swapzone, offer exchange services for various crypto pairs, including both BTC to BEAM and BEAM to BTC.

Now, it is easier for users to get all the necessary information at a single exchange aggregator instead of referring to multiple platforms for that matter.

How to exchange BTC to BEAM?

As mentioned above, Swapzone is one of the most reliable and reputable exchange aggregators in the crypto industry. Its high usability has attracted several traders and investors in exploring its features. Users only need to follow a few steps to exchange your Bitcoins to Beam:

  1. Go to Swapzone.io to get your work started.
  2. Select BTC in the Send section.
  3. Specify the total amount you are going to exchange.
  4. Select BEAM in the Get Up To section.
  5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the BTC-BEAM exchange.
  6. Choose an offer you want to proceed with and click on the Exchange button.
  7. Enter the wallet to receive your BEAM coins and click Proceed to exchange.
  8. Send the deposit in BTC through your wallet.
  9. Wait for the deposit to be processed by the exchange service and the exchange to be done.
  10. Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.
BTC to BEAM exchange rates

Video guide on how to exchange Bitcoin to Beam

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

If you’re a visual learner and want to have a better understanding of how to convert Bitcoin (BTC) to Beam (BEAM) on Swapzone with no hassle, check out our step-by-step video tutorial: