Your Guide to Cryptocurrency Conversion - Freecoins24 official Newsblog

13.12.2023 published by Freecoins24
5 min read

BTC to Euro: Your Guide to Cryptocurrency Conversion

Are you curious about how to convert BTC to Euro? You are not alone. As cryptocurrency continues gaining momentum, understanding how to make this conversion is becoming increasingly important. In this blog post, we’ll walk you through the simple steps of converting your Bitcoin to Euros so you can confidently navigate the digital currency exchange world. Whether you’re looking to cash out your BTC holdings or just interested in learning the process, we’ve got you covered. Read on to discover how easy it can be to make Bitcoin to Euro conversions and stay informed in the ever-evolving crypto landscape.

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Is Cryptocurrency Real Money?

Cryptocurrency has been debated since its inception, with many people questioning whether it qualifies as real money. The answer isn’t a simple “yes” or “no.” It’s more of a “yes, but…” Please stick with me as I break down the answer to this pressing question.

The Characteristics of Money

To determine if cryptocurrency is real money, let us consider the fundamental characteristics that define traditional currencies:

Medium of Exchange: Real money is widely accepted as a means of trade and exchange for goods and services. In this aspect, some cryptocurrencies, like Bitcoin, have gained acceptance among merchants and individuals for transactions, making them function as a medium of exchange.
Store of Value: Money should retain its value over time. Governments and central banks typically control traditional fiat currencies, which can lead to inflation or devaluation. On the other hand, cryptocurrencies have a fixed supply or directed issuance, which can make them a store of value, similar to precious metals like gold.
Unit of Account: Money provides a standard measure for pricing and accounting. While cryptocurrency prices can be volatile, they are often used as a unit of account within the cryptocurrency ecosystem.
Divisibility: Money should be easily divisible into smaller units. With their digital nature, cryptocurrencies excel in this aspect, as they can be divided into tiny fractions, making them highly divisible.

The “But” Factor

Here’s the catch: cryptocurrency isn’t issued or regulated by any central authority, like a government or a central bank. This decentralized nature can make it more volatile and lack the legal tender status of traditional currencies in many countries. So, while cryptocurrency exhibits some characteristics of real money, it operates in a unique space. Factors like market sentiment, technological developments, and regulatory changes can influence its value. This differentiates it from conventional currencies but doesn’t disqualify it from being considered a form of money. Cryptocurrency can be seen as a form of money. Still, it’s a new and evolving one with advantages and challenges. Whether it’s “real” money may depend on your perspective and how you use it in the ever-changing digital economy.

Can You Exchange Crypto Without an Exchange?

In cryptocurrency, exchanges have long been the go-to platforms for buying, selling, and trading digital assets. These online marketplaces provide a secure and convenient way to transact with various cryptocurrencies. But what if you’re wondering whether you can exchange crypto without using an exchange? This section will explore the possibilities and alternatives for bypassing traditional exchanges.

Cryptocurrency ATMs

Cryptocurrency ATMs are another option for exchanging crypto without using an online exchange. These machines enable users to buy and sell digital currencies in a physical location, much like traditional cash ATMs. You can use crypto debit cards from exchanges like PlasBit.

How To Set Up a Crypto Debit Card

Create an Account: Begin by signing up for an account on the exchange if you still need to get one. Provide the necessary personal information and complete the verification process as required.
Fund Your Account: To obtain a crypto debit card, you must ensure you have a balance in your account. Deposit your preferred cryptocurrency into your wallet on the exchange. Make sure to have enough to cover any issuance or activation fees.
Card Selection: Navigate to the “Card Service section on the exchange. Here, you’ll find the available card options. Choose the card that best suits your needs, considering factors like spending limits, supported cryptocurrencies, and associated fees.
Card Application: Once you’ve selected your desired card, initiate the card application process. You may need to provide additional personal information and agree to the card’s terms and conditions.
Verification: They will verify your identity to ensure compliance with regulatory requirements. This may involve submitting identity documents, proof of address, or other requested information. Be prepared to complete these steps promptly.
Card Activation: After successful verification, your crypto debit card will be issued and activated. You’ll receive the card in the mail, along with instructions on how to activate it. Follow the provided guidelines to activate your card securely.
Load Your Card: Now that your card is active, you can load it with the cryptocurrency available in your account. This balance will be accessible for your card transactions.
Start Spending: With your crypto debit card ready, you can use it for everyday purchases, online shopping, or ATM withdrawals, just like a traditional debit card. Be mindful of your spending limits and any associated fees for transactions.
Monitor Your Transactions: Regularly check your card transactions and balance through your account. This will help you keep track of your expenses and manage your cryptocurrency holdings effectively.
Security Measures: Lastly, ensure you take necessary security precautions. Store your card securely, protect your card details, and enable any additional security features offered by them to safeguard your assets.

While these machines are still not as widespread as traditional ATMs, their numbers are growing, making it easier for individuals to access crypto services offline.

Over-the-Counter (OTC) Trading

Institutional buyers and high-net-worth individuals commonly use over-the-counter (OTC) trading to trade large volumes of cryptocurrencies. OTC desks and brokers facilitate these transactions. If you’re dealing with substantial amounts of crypto, OTC trading can be a viable way to exchange digital assets. OTC trading offers a more personalized experience and can be a solution to avoid the potential market volatility associated with exchanges.

Cryptocurrency Swapping

Cryptocurrency swapping services, such as ShapeShift and Changelly, provide a straightforward way to exchange one cryptocurrency for another. Instead of dealing with a centralized exchange, these services allow users to convert one digital currency directly into another without needing an intermediary. While swapping platforms may charge a fee for their services, they offer convenience and speed.

Decentralized Exchanges (DEXs)

Decentralized exchanges (DEXs) are emerging as a popular alternative to traditional exchanges. Unlike centralized exchanges, DEXs operate without a central authority. They enable users to trade directly from their wallets, providing more control and privacy over their assets. Popular DEXs include Uniswap, SushiSwap, and PancakeSwap. However, DEXs may have liquidity and trading pair limitations, so assessing whether they meet your specific trading needs is essential. While centralized exchanges are the most common and convenient way to exchange cryptocurrencies, alternative methods are available. Whether you choose P2P transactions, cryptocurrency ATMs, OTC trading, swapping services, or DEXs, it’s crucial to evaluate the pros and cons of each option and consider factors like security, fees, and convenience. Ultimately, how to exchange crypto without an exchange will depend on your specific needs, preferences, and the volume of cryptocurrency you plan to trade. Conduct thorough research and exercise caution to ensure a safe and successful experience when exploring these alternatives to traditional exchanges.

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How to Convert Bitcoin into Euro?

If you want to convert your Bitcoin (BTC) into Euro, PlasBit’s services offer you a hassle-free and secure process. In this guide, we’ll walk you through how to use their services to make this conversion.

Instant BTC to Euro Transfer

An instant transfer is one of the fastest and most convenient methods to convert BTC into Euro. Here’s how it works:

Log In To Your Account: The first step is to access your account on the user-friendly platform. Ensure you provide your login credentials, such as your username and password, to access your account securely. This ensures that you have control and access to your funds.
Select the “Instant Conversion” Option: Once logged in, navigate to the platform section that offers the “Instant Conversion” feature. This feature is designed for users who want to quickly and effortlessly convert their Bitcoin holdings into Euros at the current market rate.
Enter the amount of BTC you want to convert into Euro: In this step, you’ll need to specify the exact amount of Bitcoin you wish to convert into Euros. You can enter the amount in BTC or its equivalent Euro value, depending on your preference. Our platform will provide real-time exchange rate information to help you make an informed decision.
Review The Current Exchange Rate And The Amount You’ll Receive: Carefully reviewing the details presented to you before confirming the transaction is essential. Look closely at the current exchange rate, which reflects the conversion rate at that precise moment. Additionally, you’ll see the calculated amount of Euros you’ll receive in exchange for your specified BTC amount. This transparency lets you ensure you are comfortable with the rate and the resulting Euro value.
Confirm The Transaction: Confirm the transaction once you are satisfied with the exchange rate and the Euros you’ll receive. This step is crucial as it finalizes the conversion process. Be sure to double-check all the information to prevent any errors in the transaction.
Your Euros Will Be Instantly Credited To Your Linked Euro Wallet: After confirming the transaction, you can expect your Euros to be instantly credited to your Euro wallet, which is connected to your account on the platform. This wallet is a secure storage space for your Euro funds, making them readily available in various ways, such as spending or further transfers to your bank account.

The “Instant Conversion” option is designed to provide a seamless and rapid method for easily converting your Bitcoin into Euros. It’s a valuable tool if you need quick access to Euros and wish to exploit current market conditions. Following these steps ensures a smooth and efficient process, allowing you to access your converted Euros immediately.

Trading

You can use their exchange platform if you prefer more control over the conversion process. Here’s a step-by-step guide:

Sign in to Your Account: Start by logging in to your account on the platform using your credentials to ensure a secure and verified transaction.
Navigate to the Exchange Section: Find and select the “Trading” section in your account dashboard. This is where you can access the cryptocurrency trading features.
Choose the BTC/Euro Trading Pair: Once in the exchange section, you’ll be presented with a list of trading pairs. Look for the BTC/Euro pair and select it. This choice determines which currencies you’ll be trading.
Place a “Market” Order: Opt for a “market” order, which means you’ll sell your BTC at the current market price for Euro. Market orders are executed almost instantly, ensuring a swift conversion.
Review and Confirm the Trade: Before finalizing the trade, review the provided information. This includes the current exchange rate, the amount of BTC you’re selling, and the approximate amount of Euros you’ll receive. Double-check the details to ensure accuracy.
Updated Euro Balance: Upon confirming the trade, your Euro balance will be promptly updated to reflect the converted amount. The conversion is based on the current market rate, and you can typically expect your Euro balance to reflect this change within seconds.

This method allows you to actively participate in the cryptocurrency market by converting BTC into Euros at the market rate, providing a transparent and efficient process if you’re looking for immediate results.

Euro Wallet Withdrawal

Another straightforward way to convert BTC into Euro is by withdrawing funds to your Euro wallet. Follow these steps:

Select the BTC Wallet: You’ll see different cryptocurrency balances inside your wallet. Choose your BTC wallet to initiate the conversion process.
Click on the “Withdraw” Option: Within your BTC wallet, look for the “Withdraw” option. This action will allow you to move your BTC from your wallet.
Choose Your Euro Wallet: Select your Euro wallet as the withdrawal destination when prompted. This designates where your converted Euros will be transferred.
Enter the Amount of BTC: Specify the exact amount of BTC you wish to convert into Euros. Ensure the amount aligns with your preferences.
Confirm the Transaction: Double-check all the details, including the amount and destination wallet, to ensure accuracy. Once you’re confident, confirm the transaction.
Receive Your Euros: After confirming the transaction, your request will be processed, and your Euros will be made available in your Euro wallet within a short processing time. The duration may vary, but it’s typically a quick and efficient process, allowing you to access and use your converted Euros promptly.

This method provides a straightforward and user-friendly way to convert your BTC holdings into Euros, making it easy to manage and utilize your digital assets as traditional currency for various financial transactions.

Auto-Conversion

Their auto-conversion feature is a convenient way to set up automatic conversions of your BTC into Euro. Here’s how to use it:

Access Your Account Settings: Start logging into your account on our platform. In the account settings, you’ll find a section dedicated to “Auto-Conversion” or “Recurring Transactions.”
Set the Frequency: Within this section, you can set the frequency of your automatic conversions. Depending on your preference, you can choose from daily, weekly, or monthly.
Specify the Conversion Amount: Next, you’ll specify the amount of BTC you want to convert in each transaction. This allows you to customize how much of your BTC holdings are automatically converted into euros.
Choose Your Euro Wallet: Designate your Euro wallet as the destination for the converted funds. This ensures that the Euros resulting from your auto-conversions are conveniently stored in the right place.
Save Your Preferences: Save your preferences after configuring these settings to your liking. This action ensures that your chosen conversion frequency and amount are applied consistently.
Automated Conversions: Our system will automatically execute the BTC-to-Euro conversion at specified intervals once your preferences are saved. For example, if you choose a weekly conversion, your BTC will be automatically converted into Euro every week, providing a seamless and hands-off way to manage your cryptocurrency portfolio.

Auto-conversion simplifies your financial management by allowing you to regularly secure a portion of your BTC holdings in Euros. It’s a convenient tool for long-term buyers and those needing periodic access to Euros. Plus, it helps you take advantage of favorable exchange rates without manual intervention.

Debit Card Integration

If you have a crypto debit card from their exchange, you can easily spend your converted Euros at any point of sale or withdraw cash from ATMs. The process is simple:

Ensure your debit card is linked to your account.
Convert BTC to Euro using any of the methods mentioned above.
Use your debit card for purchases or withdrawals like a traditional bank card.

SEPA Transfer

What is a SEPA Transfer?

SEPA (Single Euro Payments Area) transfers are a reliable and cost-effective way to move your funds from your bank account to a crypto exchange or vice versa. SEPA is particularly popular for users in the European Union, as it allows for seamless Euro transactions within the region.

Here’s how you can use SEPA transfers on a crypto exchange:

Set Up Your Exchange Account: If you haven’t already, create an account on your crypto exchange. Ensure that the exchange supports SEPA transfers, e.g., PlasBit,
Complete KYC Verification: Most exchanges require you to complete Know Your Customer (KYC) verification before using SEPA transfers. This involves providing identification documents and personal information to comply with financial regulations.
Connect Your Bank Account: Link your European bank account to your account. You must input your bank’s IBAN (International Bank Account Number), BIC (Bank Identifier Code), or SWIFT code for international transfers.
Initiate a SEPA Deposit: Within your account, navigate to the deposit section and select SEPA as your preferred deposit method.
Enter Transaction Details: Input the amount you want to deposit and review any associated fees. Ensure that the recipient’s bank details are correctly entered.
Wait for Confirmation: After initiating the SEPA deposit, the exchange will provide you with the bank details for the transfer, including a unique reference code. These details will ensure your funds are appropriately credited to your exchange account.
Initiate the Bank Transfer: Log in to your online banking platform and create a new payment or transfer. Input the exchange’s bank details and the reference code provided by the exchange.
Wait for Processing: SEPA transfers typically take 1-3 business days to process, but the exact timing may vary depending on your bank and the exchange.
Check Your Exchange Account: Once the transfer is completed, check your exchange account to confirm that the deposited funds are available for trading or withdrawal.
Start Trading or Withdraw: With your Euros now in your exchange account, you can start trading for cryptocurrencies or withdraw the funds to your linked bank account.

SEPA transfers are known for their cost-efficiency and speed when transferring Euros within the European Union. They provide a straightforward way to move your funds to and from a crypto exchange, making it easy to participate in the cryptocurrency market or secure your gains in a Euro-denominated bank account. Always double-check the details provided by your exchange and follow best security practices to ensure a smooth and secure SEPA transfer experience.

Finding The Way Forward

Converting Bitcoin to Euro offers a world of possibilities, and you’re now equipped with a toolkit of methods to make it happen. Whether you prefer the speed of instant transfers, the control of trading on an exchange, or SEPA transactions, this post has you covered. With debit card integration or SEPA transfers, you can tailor the process to your unique needs. The key is choosing the best method with your preferences and requirements. So, go ahead and explore these options, and start converting your BTC to Euro with confidence and convenience today.

Disclaimer:
Trading or investing in an ICO in virtual currencies brings with them significant risks. Only use funds you can permit losing. Every virtual currency may be subjected to severe price variations and could potentially become worthless. Values fluctuate at each moment of the day. Make sure to be aware of the risks involved in trading and/or investing in cryptocurrencies. We advise to gain information from a neutral, competent individual or organization, before proceeding with trading and/or investing in cryptocurrencies/ICOs. Each personal, successful trade or investment from the past do not offer any form of warrant for future success.