There are hundreds of cryptocurrency exchanges in the market. They serve as platforms where users can conduct transactions with crypto assets: buy, sell, swap, etc. Large and centralized crypto platforms allow working with crypto-fiat pairs (for example, to convert BTC to USD). Why do only centralized exchanges allow this feature? The fact is that such platforms operate officially; they comply with all the rules and requirements in this field and ensure the safety of clients. For that purpose, they ask users to pass KYC and verify their accounts. In the verification process, a user is checked for past activities to ensure one is not engaged in any illegal schemes. Once the process of verification is completed, the user receives access to all the features and tools such as:
- crypto-fiat transactions;
- withdrawal of funds to a bank card and vice versa;
- trading with big leverage;
- futures;
- trading bots;
- etc.
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What is Converter?
Crypto converter is what you will see on all centralized crypto exchanges. It looks like a table where you need to enter your data: coins you have and coins you wish to obtain. It may be BTC to EUR converter or any other desired assets. Let’s consider the example of BTC to USDT converter. So you have BTC and want to convert them to USDT – stablecoin. Open the “Exchange” section and enter the number of BTC you are willing to sell. You will see the current rate for this pair. If it suits you, pay the fee and click “Trade”. In a matter of seconds, you will receive USDT in your account. BTC converter helps understand the current Bitcoin rate related to other crypto assets, whether crypto or fiat currencies.
You will find an easy-to-handle BTC converter on the WhiteBIT crypto exchange. The platform is focused on beginner users, so it did its best to present an intuitive interface for a better user experience. You can practice BTC to USDT converting on a demo account without the risk of losing funds. Demo trading features demo tokens and aims to provide a valuable experience that will be a foundation for your future trading on real markets.