There is nothing easier than exchanging fiat currency. You just went to a bank or exchange office, gave rubles to the cashier and received dollars. Or vice versa. How to exchange crypto money? You won't believe it: it's even simpler. You don't even have to leave your house. This is why these are virtual currencies, so that all transactions with them can be carried out on the Internet. Let's figure out how you can exchange the second most popular electronic coin, Ethereum, and how to do it most profitably.
Exchangers: a convenient way to sell and buy ether
This is something like the exchange offices we are used to, which are at railway stations or in supermarkets. You come, give the money to the cashier, and receive the required currency. Some countries charge an exchange fee. Cryptocurrency exchangers work in much the same way: you go to a resource, give it money (enter your wallet address), pay a commission if necessary, and receive the required fiat or other altcoins to the specified account. The only difference: you don't need to go anywhere. The exchange can be made while sitting on the couch.
The speed of receiving money and, accordingly, carrying out an exchange transaction differs from the resource and its current load. Sometimes the exchange is carried out in a couple of minutes, and sometimes you have to wait a whole day.
There are many resources for exchanging Ethereum for other crypto coins or fiat currencies. How to choose among all the variety? Please pay attention to the following criteria:
- Amount of commissions. Some exchangers operate without deducting transaction fees. But on such resources there may be increased fees for withdrawing money.
- Exchange rate. Basically, exchangers use the same rates. Make sure it is not too low.
- Amount of reserves. The greater the exchanger’s reserves, the faster your operation will go: this is a fact.
- Service operating hours. If you choose an exchanger with which you plan to cooperate on a regular basis, make sure that it works 24 hours a day, 7 days a week. The cryptocurrency rate is an unpredictable thing. It may happen that you just need to exchange money late at night. In addition, inconsistent operation of the exchanger is a bad sign. Perhaps this indicates that he simply does not have enough resources to ensure smooth operation.
- Reviews. Positive user opinions are another plus for the exchanger. Don’t be lazy and read reviews before you start working with a resource. Comments from real users are a good and reliable source of truthful information about the service, which will help you draw the necessary conclusions.
- List of payment systems with which the resource cooperates. It is important that this list is broad. WebMoney, Yandex.Money, Advcash, withdrawal to card, international bank transfer - the more options, the better.
There are actually many advantages to this method of exchanging Ethereum:
- Simplicity and convenience;
- High speed of exchange;
- A large selection of exchangers and the opportunity to find a better price.
There is only one drawback - most often exchangers charge high commissions for their services. The average transaction cost is about 10 percent of the total amount.
Let's look at several exchangers that offer to sell or buy ETH.
Best Change: a service that will help you choose a profitable exchange rate
Bestchange is not an exchanger. This is a resource that will help you compare rates for a specified direction in all exchangers and choose the truly most profitable one. In addition, on bestchange you can read real user reviews of this or that resource.
60sec: instant exchange of etherium
Here you can exchange ether for all popular coins: Ethereum Classic, Bitcoin and Bitcoin Cash, Dogecoin, Monero, Dash, Ripple, ZCash and Litecoin.
The list of fiat currencies you can receive includes euros, dollars and Russian rubles. What is so special about the exchanger? The fact is that here you can exchange money without commission.
The advantages also include:
- Several language versions, including Russian;
- Fast exchange. On average, one application is processed in 10-15 minutes;
- Ability to exchange money using the Telegram bot;
- No mandatory registration. Here you can exchange money without creating a personal profile;
- Simple and intuitive interface;
- 24/7 operation;
- Safety and reliability, confirmed by real reviews;
- A wide range of options for withdrawing fiat money: from a Visa card to a transfer to a bank account;
- Fast support work.
In general, the advantages can be listed endlessly. The only negative that users highlight in their reviews is the lack of an application for mobile devices.
Changelly: Buying and Selling ETH
In addition to popular crypto coins (like Bitcoin, Ethereum or Monero), the service lists 63 more virtual currencies.
Among fiat currency, only dollars and euros are available. It is important to note that you can only buy crypto coins with fiat currencies on this site. Operations in the opposite direction are not possible. That is, you can sell Ethereum here only for other virtual money.
Perhaps this is the only significant drawback of this resource. Otherwise, this is a good service for exchanging Ethereum. Among the advantages, users highlight:
- Rich functionality, nice design and simple interface;
- Fast transfers;
- Quite a simple exchange algorithm;
- Low transaction fees;
- Availability of a Russian-language version of the site.
24xbtc: exchanger without drawbacks
This service comes from Ukraine.
This probably explains the presence of the Ukrainian hryvnia in the list of supported fiat currencies. In addition to it, there is a dollar and a Russian ruble. The list of supported virtual coins is not very large. In addition to Ethereum, there are Bitcoin and Bitcoin Cash, Monero, Litecoin, Zcash, Ripple, Dash and Tether.
24xbtc is perhaps the only exchange resource whose users have nothing bad to say about it. But there are many advantages:
- Availability of Russian version;
- High speed of processing applications;
- Simple and intuitive interface;
- No mandatory registration and maintaining anonymity;
- Increased reliability;
- Availability of support service;
- High stock of assets.
You can exchange for VeChain (VET):
- Litecoin (LTC) on VeChain (VET)
- VTB Bank RUB on VeChain (VET)
- OmiseGO (OMG) on VeChain (VET)
- Sberbank RUB on VeChain (VET)
- QIWI RUB on VeChain (VET)
- Cash RUB on VeChain (VET)
- WAVES on VeChain (VET)
- Basic Attention Token (BAT) on VeChain (VET)
- Raiffeisen RUB on VeChain (VET)
- Rosselkhoz Bank RUB on VeChain (VET)
- Bitcoin (BTC) on VeChain (VET)
- Cosmos (ATOM) on VeChain (VET)
Crypto exchanges: how to exchange Ethereum for rubles and other currencies
On exchanges you can not only trade for profit, but also simply exchange currencies.
The first thing you need to do to start working on the trading platform is to register. Without creating a profile you can't go anywhere. Registration is usually simple and does not take much time. We came up with a username and password, entered our email address and confirmed it by clicking on the link - that’s all. In some cases (it all depends on the conditions of the site), you need to additionally undergo account verification. This means that the new user must send scans of documents confirming his identity to the resource administration. This could be a passport or driver's license. The main thing is, don’t worry, your data will not be used anywhere. If, of course, you choose a reliable exchange.
After creating a profile and (if necessary) verifying it, you can start exchanging. If you plan to sell Ethereum, first you need to top up your balance on the exchange with coins. Exchanges usually do not charge commissions for depositing cryptocurrencies. Once the money has been transferred, proceed to placing your order.
This stage is usually simple and intuitive. The only important point: choosing and setting the right course. Here, unlike exchangers, you set the price yourself. “What's so difficult about this? You just need to put the highest price!” - you will think, expecting to get the greatest benefit. Not so simple. The speed of the exchange will depend on the price you specify. By choosing the most profitable rate for yourself, you can wait for a buyer for days, or even weeks. If you need to sell coins instantly, think about the buyer and set a price that is attractive to him.
For carrying out a transaction, trading platforms charge an average of 0.1-0.2 percent of the transaction amount.
The final step in exchanging currencies on exchanges is receiving money and withdrawing it from the site’s balance. If you exchanged Ethereum not crypto, you do not have to withdraw them from the platform. If you received fiat for the exchange, withdraw it in any way convenient for you that the resource offers. Popular exchanges have in the list of available cash-out options both withdrawals to cards and bank accounts, and transfers to wallets of electronic payment systems.
Please note that many crypto platforms charge a fee for withdrawing money. This double taxation of commissions is probably the only disadvantage of exchanging on exchanges. Otherwise there are only advantages:
- Possibility to set your own price. True, be careful in your desire for your own benefit.
- Evaluate what is more important to you: getting more money or making the transfer as quickly as possible;
- 24/7 operation. All trading platforms operate 24/7;
- Reliability. High-quality exchanges value their reputation. They take all security measures to protect user accounts and prevent money from being stolen from accounts;
- Relatively low commissions. Even double fees in their amount cannot be compared with the commissions that many exchangers charge.
About a hundred cryptocurrency exchanges allow you to exchange Ethereum (buy and sell it). Among them are both popular and not so well-known sites. Let's look at the five most convenient services for trading Ethereum.
OKEx exchange: low commissions
This is an exchange that was created in May 2020 as a subsidiary project of the well-known company OKCoin.
In just a year of operation, the site has gained real fans and entered the TOP of various ratings for daily cash turnover. What can you trade? There are more than 270 types of virtual coins listed. Naturally, bitcoins, ethereums, litecoins, and ripples are especially popular. The American dollar is available in fiat currency.
Commissions. For conducting a trading operation, the platform charges the user a certain percentage of the transaction amount. Its exact value is determined by trading turnover for the previous month. The more you exchange, the less interest you pay. The maximum OKEx charges for a transaction is 2 percent of the exchange amount.
Russian version. In the absence of a Russian version of the resource, Russian-speaking users see the main drawback of the exchange. Even despite the clear interface, many users still prefer to make exchange transactions in Russian.
Crypto platform Binance: does not work with fiat
Another young cryptocurrency exchange, the first operation on which was carried out only on April 1, 2020.
Binance's growth in popularity was just as fast, with 3 million registered users by the end of the year. What can you trade? Only cryptocurrency. Binance does not work with fiat. More than 250 different cryptocurrencies are available for exchange here. There are both popular Bitcoin, NEO, Ripple, Binance Coin, TRON, as well as lesser-known coins.
Commissions. The exchange offers its users a fixed commission for making a transaction - 0.1 percent of the amount. By the way, by exchanging Ethereum for Binance Coin or making a transaction in the opposite direction, the commission size will be halved.
You won't have to pay anything to top up your profile balance. But there are commissions for withdrawals. For withdrawal of Ethereum, for example, you need to pay 0.01% of the amount.
Russian version. Eat. And even despite the not very professional translation, its presence greatly simplifies the trading process for residents of Russia and other CIS countries. In addition to the Russian version, the site is presented in 11 more languages: English and German, French and Spanish, Turkish and Spanish, simplified and traditional Chinese , Vietnamese and Dutch.
Bitfinex Exchange: a platform with experience
This is an experienced platform.
She has been working since 2012. A high level of security, user-friendly interface and rich functionality have helped the platform gain popularity. Today the resource's cash turnover is more than $300 million. What can you trade? Supports both cryptocurrencies and fiat. You can top up your account or withdraw money in dollars. The list of virtual coins is not as wide as on the exchanges described above. There are only 32 crypto coins in the Bitfinex listing. But they are all popular on the market.
Commissions. There is also a savings program based on the amount of commission per transaction. The more you exchange or trade, the less fees you pay. The maximum you can pay is 0.2% of the amount. Minimum - 0.1%.
Russian version. Eat. Moreover, unlike many other resources, the version is made of very high quality. The translation is “not lame.” Perhaps this is one of the reasons why a large number of traders from Russia choose Bitfinex.
Huobi: Chinese exchange for exchanging Ethereum for Yuan... and more
Chinese marketplace Huobi was launched in 2013.
Today, the exchange is in the TOP-3 in terms of daily trading volumes. The resource also ranks in the TOP 10 best cryptocurrency trading platforms around the world. What can you trade? Fiat currency is available for exchange and trade: American dollar and Chinese yuan. You can also buy and sell Ethereum for various virtual coins. There are about a hundred crypto pairs available.
Commissions. The fees here are also not fixed. The size of the commission depends on several factors. First, the type of currency used. When choosing dollars, the commission for those who place an order will depend on the monthly turnover. Maximum - 0.2%. Minimum - 0.08% of the amount. When choosing the yuan, the commission will in any case be 0.2 percent.
Russian version. Russian language was added recently. Many users call this step the most correct and thoughtful. Because working here has become much easier.
GDAX crypto platform: an exchange with an impeccable reputation
The successor to the Californian resource Coinbase, which accepted its first users in May 2020.
This resource was developed specifically for experienced traders for whom crypto trading is their life’s work. What can you trade? The list of currencies is not wide. There are three fiat currencies in total - euros, dollars and pounds sterling. And four more crypto coins: Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Commissions. Commission fees for makers for issuing an order are zero. But takers will have to pay from 0.1 to 0.3 percent. As you understand, fees here are also not fixed and depend on the trading volume.
Russian version. No.
In general, the resource is aimed at the English-speaking market. The lack of a Russian version is also explained by the fact that trading on GDAX is not available in Russia.
