What to Look at When Choosing a Crypto Converter
September 19, 2023
Lots of converters, lots of opportunities. And plenty of ways to go wrong. You may think you’re on the right way to pick a crypto converter but it can get a little bit more stressful than initially planned.
Cryptocurrency prices continue to fluctuate, so the need for a reliable, accurate, and secure conversion tool becomes all the more critical.
Whether you want to swap USD to BTC, or simply want to know how much your crypto assets are worth in fiat currency, a good converter can be your best ally.
In today’s guide, we’ll go through some key factors to consider when selecting a crypto converter, so you can be confident that you’ve picked the most optimal tool.
First off, what is a crypto converter?
A crypto converter is a tool that helps you determine the value of one cryptocurrency in terms of another or even a fiat currency like dollars or euros. Think of it as a currency exchange booth, but for digital assets. It’s crucial that the converter represents the actual cryptocurrency price, giving you real-time or near real-time rates.
You have to rely on it for accurate and up-to-date information, especially if you’re making trades or need quick conversions for transactions. A quality converter not only shows current values but often provides historical data and trends, helping you make informed decisions.
How to choose a cryptocurrency converter that fits your needs?
The cryptocurrency market is just loaded with converters. Some of them are solid, others are, to say the least, the opposite of trustworthy. That’s why we’d like to mention some good practices to avoid bad experiences.
- Customer reviews are the most important thing. Reputable exchanges boast a high rating, and even if some customers might be dissatisfied (as with every platform), having a rating of 4 and above is crucial.
- Safety is another paramount detail. You need to be able to safely buy Bitcoins and other cryptos without having to worry about your funds. Security measures and proper licenses are paramount.
- The user interface has to be top-notch. While some crypto converters are easy and intuitive, others are just too complex. While complexity is not bad if you’re a trader, if you just want to use a converter to pay some bills and subscriptions, then you need simplicity.
- Your crypto wallet access should be smooth and easy. Once you buy enough coins, you should be able to transfer them straight away into your wallet, so you can operate with your funds.
Top crypto converters on the market
Sure, we’ve reached the last part of the article. Which are the best converters? Well, let’s see a short list.
Paybis.com leads the pack when it comes to crypto converters, and it might be surprising just how much it offers. With great rates, fast execution, a simple user interface, and easy wallet access, Paybis really shines, especially if you’re new to the crypto world.
Indeed, it doesn’t have the flashy “Wall Street vibes” that you can enjoy at Binance, but for newbies, having such an interface could be an overkill. And even intimidating.
OKX holds its own as the runner-up in our rankings. The platform is known for its vast range of supported cryptocurrencies and financial instruments. OKX offers an interesting mix of versatility and efficiency.
While it may not lead the pack, it certainly delivers on key features such as real-time rates, military-grade security, and a user-friendly interface, making it a strong option for crypto conversions.
We can’t complete a crypto converter review without bringing up “The Big Gun”. Yet, we ranked it third, as reported by Cointelegraph, that Binance.US doesn’t cooperate with SEC investigation, which puts it at risk.
It’s still the most comprehensive crypto trading platform in the world, but if you are a regular crypto user and not a day trader, your funds might be better off elsewhere.