Throughout different crypto platforms, the BTC EUR pair is one of the most common when it comes to turning crypto into fiat money. People turn Bitcoin to euros mainly to receive traditional fiat they can use in everyday life. This way, they can easily use the value of their BTC holdings for everyday transactions such as buying things and paying for services and bills or making euro-denominated investments. Converting Bitcoin to euros also helps people diversify their assets, manage financial obligations in euro-denominated countries, or simply take profits from Bitcoin investments.
How to Convert BTC to Euro on a crypto exchange?
If you want to convert BTC to EUR, you will need to exchange your BTC digital assets for the traditional fiat euro. Here is an overview of the conversion process:
- To trade Bitcoin against any other digital or fiat asset, you should look for a trustworthy crypto platform that supports trading of both Bitcoin and the euro. Some renowned platforms like WhiteBIT, Kraken, or Binance commonly provide BTC EUR trading pairs.
- To use a crypto platform, you usually have to create an account and complete verification, which involves submitting documents and satisfying Know Your Customer criteria.
- Once you create an account, you must move your BTC to the new wallet. To do this, you need to generate a receiving address for your BTC and then initiate a transaction from your personal Bitcoin wallet to the exchange wallet.
- After your BTC deposit has been confirmed, you can sell your BTC on the exchange by specifying the amount and selecting the BTC EUR pair. The platform will then match your sell order with a buyer interested in purchasing Bitcoin with euros.
- Once a buyer matches with your sell order, the trade will execute. You will sell the previously agreed-upon amount of BTC for euros at the current rate. After that, the exchanged euros will reflect in your account balance.
- You have the option to move the euros from the exchange to your bank account.
To convert BTC to EUR, you should take into account the different exchange fees that vary across exchanges. These include transaction, withdrawal, and spread fees. You should also be aware of the high volatility of markets, which can cause exchange rates to change quickly. Timing your trades cleverly can help you get the most out of your conversion.
To keep your funds safe, it is crucial to find a trustworthy and secure exchange. You can make an informed decision by carefully researching and reading user reviews. Factors such as exchange liquidity, security measures, and customer support should also be taken into consideration when selecting a reliable platform for converting BTC EUR. We offer to begin with the WhiteBIT platform, for it is intuitive and safe. In addition, it charges lower commissions compared with other large platforms.
