It looks like you already have Ethereum cryptocurrency and want to change some of it to Bitcoin or might be all of it.
Whatever may be the reason you should always do cryptocurrency exchanges safely and securely because cryptocurrency transactions are irreversible.
Furthermore, I am assuming that you haven’t done such swaps of one currency to another that’s why in this step by step tutorial, I will tell you how you can accurately exchange ETH to BTC.
But before, I want to share that some people consider swapping ETH to BTC as buying Bitcoin with Ethereum, which is of course not a wrong way of looking at it.
So without further add-on let’s jump directly to the step by step process, and I feel Changelly is the right service for you to do this because it is barter like service where you give one currency and get another in return.
How & Where To Exchange Ethereum (ETH) To Bitcoin (BTC)?
Step #1. Go to Changelly.com & sign-up for free using your email ID. Don’t worry, no KYC or ID document submission is required at this stage.
Step #2. Confirm about your sign-up in your email, if you receive any mail from Changelly. (skip otherwise)
Step #3. Once you are logged in, you will see this screen. Select ETH & BTC pairs, as shown in the below image. Don’t forget to mention the exact amount of ETH you want to exchange. Selecting this will automatically show you the amount of BTC you will be getting.
Note: In this example, I am exchanging 1 ETH for BTC
Step #4. Now click on ‘Exchange Now’ option to see this screen. You can even change the amount of ETH you wish to exchange here too. You can also see the exchange fee, the network fee, and the estimated time of exchange on the right side.
Step #5. Now click on ‘Next Step’ as shown in the above image, and you will see this screen, which will ask you to ‘Enter your BTC wallet address.’ Enter your BTC address, as shown below.
Note: If you don’t have a BTC wallet address, choose a wallet from here, and you will get your address. Also, this is the BTC address on which you will get your bitcoins in exchange for Ethereum.
Step #6. Now click on ‘Next Step’ to see this screen where you will be shown the details of your conversion that you can check before proceeding for the actual exchange.
Step #7. Once you have checked all the details, click on ‘Confirm and make payment.’ After which you will be shown this screen asking you to first send the ‘ETH’ on the below-shown ETH address or QR code. Note: You have 36 hours to send funds otherwise the transaction will be canceled automatically, but I suggest you send it ASAP before the exchange rate of ETH/BTC pair changes.
Step #8. As soon as you send ETH to this address, you will see this screen ‘Wait for exchange or Swap.’ It shows that your ETH is being deposited and we are waiting for the blockchain to confirm. Usually, it takes 10-15 confirmations for depositing Ethereum.
The swapping process itself happens almost instantaneously but the rest of the time is taken by the network. Typically, the swap comprises of these three stages:
- Getting confirmation
- Exchanging ETH to BTC
- Sending Bitcoin to your wallet
Step #9. Wait for some time, and as the transaction is completed, all the details will be viewed in the window like the one below, and you would have received your bitcoins in your BTC wallet. You can also audit your transaction on Blockchain by tapping “See transaction on Blockchain” button as shown in the below screen.
Congratulations, Tada….!!! You have done it
Conclusion: Buy Bitcoin With Ethereum
So this is how you convert Ethereum to Bitcoin or buy Bitcoin with Ethereum using Changelly. The vice versa, i.e. converting Bitcoin to Ethereum, happens the same way.
Additionally, Changelly is one of the renowned cryptocurrency swapping service operating in this space since 2015, and I have been using it since 2017. The company is transparent, and I met its founder once in 2018.
Though this example was about converting ETH to BTC using Changelly you can convert many other Changelly supported coins in a similar fashion.
Lastly, most people who ask ‘can I exchange bitcoin for ethereum on coinbase & Binance?‘ and the answer is resounding Yes (!) but the process is more tedious and time-consuming.
But if you still want to know about how to exchange BTC for ETH or ETH to BTC on Coinbase or Binance than let us know in the comments below and we will do the needful !!
And don’t forget to follow us on Twitter @themoneymonger for much such article’s updates
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.