How to exchange cryptocurrencies? A guide for 2020

Contrary to popular belief, how to exchange cryptocurrencies can be a very simple process to follow. Far from countless procedures, users just need a wallet with available funds and a platform to carry out the operation. 

In this 2020 guide, we want to explain to you how the Bitcaribe exchange works. Bitcaribe is a user-friendly cryptocurrency exchange for both beginners and advanced traders.

Let’s first cover the basics. 

How to exchange cryptocurrencies: what is an exchange exactly?

Before talking about cryptocurrency trading, it’s important to establish that the term “cryptocurrency exchange” refers to any transaction that occurs between cryptocurrencies and fiat currencies. 

Exchange platforms allow crypto-to-crypto and crypto-to-fiat transactions. The conversions know as crypto-to-crypto are those in which one cryptocurrency is sent to receive another using an exchange platform as Bitcaribe. That means that users send a cryptocurrency like Bitcoin (BTC), to receive another one such as Ether (ETH). These exchanges are processed at the current market rate. 

On the other hand, crypto-to-fiat exchanges refer to operations where users obtain cryptocurrencies using fiat currencies (e.g.: dollars, euros, or pounds). 

Which cryptocurrencies can you exchange with Bitcaribe? 

How to exchange cryptocurrencies on any exchange will depend heavily on the cryptocurrencies available on that exchange.  With Bitcaribe you can manage (receive, send and exchange) more than 15 crypto assets and stablecoins. These include Bitcoin (BTC), Ether (ETH), Dash (DASH), Litecoin (LTC) and Monero (XMR). Currently, these are five of the main capitalization currencies in the crypto market. You can also manage several stablecoins including Tether, USD Coin and TrueUSD.

 You can choose between the different pairs of trade and set it up! It’s really easy.

How to exchange cryptocurrencies in Bitcaribe: a practical example

To exchange cryptocurrencies through Bitcaribe, you only have to follow two easy steps. First, select a wallet with available funds (in this example, Bitcoin). Then click on the “exchange” tab, choose the amount and currency you want to convert. That’s it! In seconds you will see your new balance updated.

After completing these three steps, the Bitcaribe exchange will immediately show you the balance updated on your wallet. 

It’s important to keep in mind that to convert cryptocurrencies you must have funds in your Bitcaribe wallet. You will be required to have some digital assets to “send”. This means that you need to have crypto assets. 

How to send cryptocurrencies to external wallets?

Aside from converting and receiving funds, Bitcaribe also allows you to send cryptocurrencies to external wallets in just two steps:

1. Select one of your Bitcaribe wallets (with available funds) and click withdraw.
2. Select the amount to withdraw, the address of the destination wallet and click proceed.

Bitcaribe’s exchange Limits

Depending on the level of verification of your account, there are some daily and monthly limits with which you can trade. Below a description:

Bitcaribe: the platform you need to send cryptocurrencies

Bitcaribe is a new platform where you can buy, receive, send and exchange cryptocurrencies using an easy-to-use interface, designed for those who are just taking their first steps in the world of cryptocurrencies.

Furthermore, our platform allows you to buy cryptocurrencies in more than 40 countries. United States, Mexico, Spain, Chile, Argentina, Malta, Canada and the United Kingdom among them; and soon Colombia, Aruba, and Curaçao.

Additionally, we also work with great allies to maintain the security of our operations. For example, Identity Mind and CipherTrace, two providers of anti-money laundering services and procedures know-your-client (KYC), which in the coming weeks will be joining the Bitcaribe platform.

So, starting to use cryptocurrencies has never been so simple! Receiving, sending and exchanging cryptocurrencies is at your fingertips.

There are thousands of techniques and procedures to capitalize on cryptocurrency activities. You just have to start and Bitcaribe is here to help you and accompany you throughout your learning process so that you become an expert trader who takes advantage of the best days to buy cryptocurrencies and knows the market trends.

Do you want to know more about our platform? Try it! Open your wallet for free, you are only a couple of clicks away.

Other articles

• How to buy cryptocurrencies with a credit card online
• What is Bitcaribe?
• What is Bitcoin and what is it not? The most common myths
• How many people use Bitcoin?

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Bitcaribe

Press Team at Bitcaribe

As part of Bitcaribe's mission, we create accessible content related to blockchain and cryptocurrencies for the whole community.

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