Cryptocurrency is likely to dominate the financial sector in the coming years. Thanks to technology, the blockchain has proven to be effective in maintaining fast, secure, and transparent transactions. Cryptocurrency is 100% online; hence, people use websites, apps, and software to transact.
Bitcoin (BTC) is one of the most popular and sought-after crypto coins today. Many people buying and selling crypto want to make a profit, while others want to use it to buy goods and services online.
The buying and selling of BTC is often carried out on an exchange website. This is best done on reputable exchange platforms. So, you need to know how to exchange Bitcoin on a website. If you are relatively new to this, there is no need to worry since this article has got you covered.
How to Exchange Bitcoin on a Website: Create an Account
Although some modern exchanges do not require you to have an account for buying Bitcoin, many still do. In fact, most reliable exchange platforms do ask for an account and verification of the user through KYC protocols for security purposes.
When using NakitCoins as your preferred exchange for Bitcoin, it is best that you create an account with them. It is an important step when learning how to exchange Bitcoin on a website.
Top Up Your Account
If you are still in the process of learning how to exchange Bitcoin on a website, the next step is to load your account. This account accepts crypto on one side, for instance, Bitcoins from your digital wallet, and fiat money on the other, for example, money topped up from your local bank account.
When all is said and done, you will be ready to conduct the exchange. But you should take advantage of tools like exchange calculators and do more background checks to know how much you need to have before executing the exchange.
How to Exchange Bitcoin on a Website: Make the Exchange
Are you still learning how to exchange Bitcoin on a website? For sure, you are. The exchange step is the most sensitive, and investors should be cautious when making decisions. We will break it down into two parts.
· Buying Bitcoin – This part of using an exchange involves receiving BTC after paying with fiat money or other cryptocurrencies. The amount of Bitcoin equivalent to your payment minus the commission will be sent to the account you just created on the website.
· Selling Bitcoin – This involves receiving fiat money such as USD or other cryptocurrencies after surrendering your Bitcoins to the website or the buyer. Again, the transaction is instant, so you will see the difference in both entries in your account.
People who have already learned how to exchange Bitcoin on a website know the precautions to take, which include using trusted websites or apps, transferring Bitcoin into a safe Bitcoin wallet immediately after purchasing it, using exchange calculators before the exchange, and many others.
It is worth saying that your website account should not hold your finances if you are not doing the exchange right away. This reduces the chances of losing your investment if the platform is hacked. However, having an account is paramount because it makes the exchange of Bitcoin very easy. Now that you know how to exchange Bitcoin on a website, you will hardly meet any challenges next time.