Can You Exchange BTC to ETH?
coins by price and market capitalisation, we clearly see two market leaders - Bitcoin and Ethereum. These assets are listed on all crypto platforms and have the biggest trade volume. Today we will compare Ethereum vs Bitcoin and tell where to convert these coins among themselves.
First, we will mention that the WhiteBIT exchange is the largest crypto platform in Europe, supporting over 450 crypto pairs and allowing fiat-crypto conversion. As of December 12, 2022, the BTC to ETH rate is $0,073. Now let's discuss these two assets.
The Main Differences
Bitcoin blockchain has become a foundation for numerous crypto projects that were developed following BTC. Some altcoins were even built on the Bitcoin code base. BTC is the market leader. In fact, it sets the trend, for all the range of assets always follow the BTC rate. When it boosts, all other coins grow, and when BTC drops, like in spring 2022, the whole market collapses. Bitcoin blockchain runs on the Proof-of-Work mechanism.
Ethereum is also a coin and a blockchain. It is a base for hundreds of dApps and smart contracts. The Ethereum network was first developed on the Proof-of-Work mechanism as well, but in the fall of 2022, the network merged, and now it runs on the Proof-of-Stake consensus protocol. That means ETH coins are not mined anymore - they are staked instead. It gives the following advantages to the Ethereum network:
no need for expensive mining equipment;
much faster and cheaper transactions;
increased throughput;
the opportunity to stake ETH.
Regarding the mechanism of reaching consensus in the network, Ethereum overtakes Bitcoin. Besides, the Ethereum network is actively used by dApps and smart contracts developers. So this network has a widespread application, and with the transition to the Proof-of-Stake mechanism, it is likely that the project will receive even more users and projects built on the top of its blockchain. So the ETH price will likely boost during the next bull market trend.
Both BTC and ETH can be traded. So you can trade BTC, trade and stake ETH. BTC cannot be staked on its network, but some crypto platforms provide such an option.
Where to Convert ETH BTC?
We recommend using large and credible crypto platforms, such as Binance, Coinbase, WhiteBIT, etc. They provide the highest level of user safety and a large selection of trading tools. You can also stake coins in the WhiteBIT crypto lending program.
To exchange BTC to ETH, enter the WhiteBIT converter, pick BTC and ETH, see the current rate for this pair, pay the fee, and receive ETH coins in your account.
