Last updated on February 17th, 2022 at 09:50 am.
When it’s very essential, how to convert XEM To BTC? XEM is a great performing crypto that can yield a great return over a long term. However, BTC is way ahead of XEM and shall remain to be so. As such, there seem to be a lot of people that want to exchange their XEM tokens to BTC tokens. This article will explain how you can easily trade between these two crypto currencies means how to convert XEM To BTC.
How To Convert XEM To BTC- A Detailed Guide
What is NEM?
NEM or New Economy Movement is an open source crypto currency token, which aims to create a more technologically savvy and smarter blockchain. NEM has coined itself as a smart asset blockchain, a technology platform that allows assets to be managed easily. It also allows seamless flow of data at a minimal cost.
NEM is archnemesis of NXT, a payment platform based on blockchain and virtual currency. NEM was created using a similar idea to make it bigger and better. XEM is the coin of NEM. It is only traded as an asset of value and not used as currency. The project has a very strong community and platform. It was once hit with a 400 million dollar hit with a Coincheck hack. But it has since then bounced back as one of the leading platforms and communities, which is an achievement in itself.
It can be safely assumed that the project has a lot of future capabilities and will be interesting to keep an eye out for the long term.
What is BTC?
BTC or Bitcoin is one of the oldest cryptocurrencies in the crypto sphere. It has been used as a benchmark for Web 3.0 transformation. In the last month of December 2021, the price of BTC has been dropping after it touched a new all-time high in November 2021. Since then, the coin has been seeing a correction, and the price has dipped below even $45,000 for some time. This serves as a great opportunity for any investor to invest in the coin right now.
If one is engaged in the cryptosphere, one must have heard of Bitcoin. The coin is now considered a class of asset more than its intended use of currency. So, it is safe to assume it will continue remaining as a market leader and the backbone of the crypto world. So, exchanging to BTC at such times can prove to be beneficial in the short and long term.
How to convert XEM to BTC?
It is necessary to find an exchange platform to exchange cryptocurrencies. With the increasing popularity of cryptocurrencies, exchange platforms have also risen substantially. But not all of them can be trusted upon. However, using reliable platforms like alligat0r.com, one can reliably and securely transfer the coins held in one currency to another. This process is known as the exchange of coins and works much like the real-life exchange of currencies.
Here’s how you can convert XEM to BTC, more or less on all the exchange platforms-
- First, you need to find the pair of coins you may want to exchange, such as XEM to BTC.
- The exchange platforms give live price updates. Make sure that the one you want to translate the coins to has a good entry price.
- Now provide the number of XEM coins you are willing to transform into BTC.
- Then, put in the details of your wallet’s information where you hold the coins you wish to exchange. Also, you need to fill in the address information where you want your exchanged coins to be deposited. It would be best to be very careful with this step since inserting the wrong address will lead to coins never being recoverable.
- After the addresses are provided correctly, add the number of coins you want to pay for the exchange.
- If the transaction is successful, the exchange coins will be at your desired address.
Cryptocurrencies are one of the best and proven investments in recent times, which has given hundredfold returns on investments. This has also made individuals more aware of where they provide information about their coins since it is very easy to get scammed in the crypto market. Besides, when it comes to convert XEM to BTC, the process is very simple and can be used by anyone to make some quick gains provided that you use the right exchange platform.