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Certified Method To Swap Crypto With Ledger Live And 3 Benefits!

Ledger Live is a hardware wallet interface app available to users of Ledger products such as Ledger Nano X, Ledger Nano S, and Ledger Blue

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Swapping cryptocurrencies has become easier thanks to Ledger, a digital asset company. Unlike the past, where you can’t convert cryptocurrencies directly, Ledger has improvised ways by which you can convert your digital currencies to another with ease. In fact, you can swap your cryptos in a cold wallet without withdrawing it through Ledger Live, a hardware wallet interface app. In this article, you will learn how to swap your coins through the crypto swap feature on Ledger Live. Before then, let’s take a look at what Ledger Live and Crypto Swap entail together with the benefits.

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WHAT IS LEDGER LIVE?

Ledger Live is a hardware wallet interface app available to users of Ledger products such as Ledger Nano X, Ledger Nano S, and Ledger Blue. The app allows users to manage their crypto assets and the hardware as well. Besides, it has some features such as real-time price updates of cryptocurrencies, management of multiple accounts, and a simple setup process. The exchange feature of this app enables users to convert one cryptocurrency into another without withdrawing it. With this, your cryptos assets are safe especially if you do not want it to leave the security of your device. It is available to Android and IOS users.

WHAT DOES CRYPTO SWAP MEAN?

Thousands of cryptocurrencies exist across the globe. Each day, many are becoming more valuable. So, what if you want to diversify your portfolio and add bits from here and there? You can certainly do that without spending extra cash by swapping cryptocurrencies. 

Swapping cryptocurrencies means the exchange of one cryptocurrency to another through an exchange platform. In other words, you can directly change one cryptocurrency to another for roughly the same value. For instance, let’s say you have some Bitcoin and want to get some Ethereum. With certain Swap services, you can easily convert a certain amount of Bitcoin to Ethereum. Meaning, you will send your Bitcoin to a Swap exchange platform that will ultimately convert to the cryptocurrency of your choice. As simple as this process seems, it always comes with a fee. With Ledger Live and their partner, Changelly, swapping cryptocurrencies induces a cost of 0.25% transaction fee. 

BENEFITS OF SWAPPING CRYPTOCURRENCIES

  1. TO MAKE PROFITS

Yes! You heard right. Making money! You can gain a lot in trading cryptocurrencies since their price patterns often change. If you study the market closely and make accurate predictions, you can earn a lot by swapping your digital currencies at the right time.

  1. DIVERSIFY PORTFOLIOS

Diversifying your portfolios can serve as a weapon against price changes and induced risks. By having bits of cryptocurrencies, you reduce the impact of price drops and balance things out.

  1. PASSIVE INCOME

Having a passive income is no more than a benefit. By swapping for certain crypto assets, you can stake them to earn more crypto.

However, trading cryptocurrencies comes with risks. Therefore, never trade more than you can afford to lose. Do your research beforehand and study the market to avert losses.

HOW TO SWAP COINS WITH THE LEDGER LIVE APP?

To get started, open the app on your desktop computer or mobile. Then, connect with your Ledger device. Select swap on the left-side menu. Follow the on-screen instructions like reconnecting your device and giving access to the Ledger Manager. Then, install the “Exchange app” and note down your wallet addresses. The wallet addresses should be the one you are sending from and the one you will receive. After that, create a swap request that includes information like the type of crypto you wish to trade, the amount, the receiving address, and more.

Then, the Ledger app will give you a unique transaction ID that signifies your specific request. You should note your Transaction ID for future purposes. The transaction is sent to Changelly by Ledger Live to complete the process with your approval. When the transaction is all done, Changelly sends a summary of the transaction. This includes a transaction ID and a specific signature. With the signature, the Ledger Live app can confirm if the transaction is legitimate. You can view the amount of the converted crypto as well as the transaction fee.

Here are few things to note:

  • The Ledger Live Swap feature is not available to some countries due to their financial regulations. Countries like the United States and Japan are excluded from using the feature.
  • You don’t need to create a specific account to swap coins. You can swap with the existing account in Ledger Coins.
  • Competitors like Safepal are available for users who do not have access to Ledger Live. SafePal is an exchange platform that offers swaps and is powered by Binance DEX. 

CONCLUSION

The Ledger Live app offers an efficient method of swapping cryptocurrencies while maintaining security. Create an account here and enjoy a smooth experience.

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Bybit Uncensored 2021: What You Need To Know Before Using Bybit

ByBit is a derivative cryptocurrency exchange with over one million registered users. It is easy to use, offers numerous trading features, and handles about 100,000 transactions per second.

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Launched in March 2018 in the British Virgin Island, ByBit is a derivative cryptocurrency exchange with over one million registered users. It is easy to use, offers numerous trading features, and handles about 100,000 transactions per second. In this article, we shall do a comprehensive review of ByBit for you.

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HOW TO CREATE A BYBIT ACCOUNT?

ByBit is an anonymous exchange that does not require a KYC (Know Your Customer). In simple terms, you don’t have to verify your ID to create an account. In creating an account, visit the ByBit website and enter your email and password. Then, you will receive a verification code that is valid for five minutes in your registered email. Once you confirm the code, you have created an account.

BYBIT LEVERAGE

ByBit allows users to trade with leverage. In other words, you can borrow from the exchange site to bet more on a crypto’s price increase or decrease. For ByBit, the leverage term is as much as 100x. To further simplify this, let’s say you have 200 USD in your account, and you bet that the Bitcoin amount will go long (increase in value). If the value eventually increases by 10% after using 100x leverage, your initial position of 200 USD will become 20,000 USD. Therefore, you will have earned an additional 2,000 USD. 

Also, ByBit offers leverage of 25x for future contacts of crypto assets like Ripple and EOS. However, trading in large volumes and entering a sizable position could give you fewer leverages. 

BYBIT ORDERS

ByBit provides an advanced ordering system for its users. The orders available include the market order, limit order, and conventional order. The market order is placed at the current price option in the form of “bid” (sell) and “ask” (buy). Meanwhile, Limit Order is placed away from the market at a certain level. On the other hand, conditional order occurs when the certain level is reached to act as a market or limit order. Also, the following options allow users to control the duration of the order placed:

  • Good Until Canceled
  • Immediate Or Cancel
  • Kill or Fill

Furthermore, interested users can set up a  take profit or stop loss order with ease. All it requires is a click from the order confirmation window that makes it a cool feature. Meaning, users don’t have to manually enter orders for the “take profit” or “stop loss.” Instead, a window that prompts users for a trade target shows before it executes an order.

BYBIT TRADING FEES

When trading on a cryptocurrency exchange site, you are either a market maker or a taker. Depending on the order placed, a market maker makes limit orders to add to the order book and increase the market’s depth. Meanwhile, a market taker makes market orders that go to the order book and decrease the market’s depths. 

For ByBit, the market’s maker and taker’s fees are 0.025% and 0.075% respectively. 

Spot trading fee is above 0.2%, and the trading fees for future contacts vary.

DEPOSIT & WITHDRAWAL FEES

ByBit doesn’t charge fees for depositing funds. However, they charge a withdrawal fee which is a small amount. When withdrawing BTC, users have to pay 0.0005 BTC. However, it is important to note that they place limits on daily withdrawals. All accounts have withdrawal limits to ensure that there are funds in their Hot wallets.

IS BYBIT SAFE?

ByBit promotes security and features operational procedures to need clients’ funds safe and secured. Based on research, the site has never been hacked by third parties. ByBit also incorporates security measures such as offline cold wallets, multi-signature withdrawal process, and two-factor authentication to enhance its system. For instance, ByBit uses a multi-signature address to complete transactions. Simply put, it needs more than one address to prove a transaction. Also, the website uses SSL communication to prevent attacks from related cyber crimes.

BYBIT TESTNET

This site is for users that want to test the website before actual trading. You can create a demo account to check things out.  Also, you can perform “demo trade” on the site” with fake money called demo coins. To get started with Testnet, create an account here.

BYBIT APP

The ByBit App is available to both Android and IOS users. You can also scan the QR code on its website and download the app there. The app provides varieties of features for its users. With the app, you can set and receive price alerts and view advanced order forms. However, to have concise trading charts and monitor different positions, the website is more suitable for users.

BYBIT TRADING BOT

Through its partner, 3Commas, ByBit can buy and sell crypto assets automatically. With a programmatic setting, you can copy trading strategies from different portfolios. To get started, you just need to link your ByBit account with the 3Commas trading platform.

US INVESTORS

Although ByBit is a potential exchange site, it is not available to United States citizens due to some regulations.

CONCLUSION

ByBit offers lots of advantages to its potential users. Get started today and enjoy the best of it.

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Crypto Exchanges Similar To Binance: See the Top 10 Alternatives to Binance

(10) Crypto Exchanges similar to Binance. Let’s check it out.

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Binance is a global leading cryptocurrency exchange with a very high-liquidity volume and numerous trading features. However, there are times when you may not have access to the platform due to some regulations guiding a particular country. Should that stop you from trading? Certainly not! That is why we have outlined ten (10) Crypto Exchanges similar to Binance. Let’s check it out.

TEN CRYPTO EXCHANGES SIMILAR TO BINANCE

COINBASE PRO

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Formerly known as GDAX, Coinbase Pro is a global exchange platform where you can buy, sell, trade, or exchange cryptocurrencies. Owned and managed by Coinbase, it offers several trading features such as spot trading, margin trading, and more. With Coinbase Pro, you gain access to trading tools like chart patterns, indicators, limit orders, and more. However, KYC (Know Your Customer) is mandatory for all users. With a homologous trading volume and high liquidity, Coinbase Pro allows fiat currencies and offers trading pairs to its users. Some of the trading pairs include BTC/USD, ETH/USD, LTC/USD, ETH/BTC, and many others. Based on the transaction volume, the trading fee for the market maker and taker differs. For instance, transactions below $10m cost a market taker fee of $0.30% and a maker fee of 0%. Meanwhile, transactions above $100m cost a market taker fee of $0.10% and a maker fee of 0%. 

FTX EXCHANGE

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Launched in 2019, FTX Exchange is a global derivative cryptocurrency exchange with a significant trading volume and liquidity. Home to several cryptocurrencies such as BTC, LTC, ETH, and more, FTX exchange allows users to buy, sell, and trade cryptocurrencies on its platforms. It supports a host of trading features such as Bitcoin options, leveraged tokens, MOVE contracts, future markets, prediction markets, spot markets, and more. It also accepts fiat deposits and withdrawals in currencies such as USD, GBP, CAD, AUD, and more. With a host of extensive benefits, FTX Exchange provides its users with other trading benefits such as OTC desk, TradingView charts, low trading fees, tight spreads, and more. Its mobile app is available for both Android and IOS users.

KRAKEN

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A veteran US-based cryptocurrency exchange that allows its users to buy, sell, and trade cryptocurrency on its platform. Home to over 40 digital currencies, Kraken offers a wide variety of trading options such as spot trading, margin trading, futures, OTC services, dark pool, and staking services. It supports fiat currencies (USD, GBP, AUD, CAD, CHF, and JPY) and accepts payment methods such as deposits and withdrawals, bank wire transfers, and more. With high liquidity and extensive customer support, Kraken’s

mobile app is available to Android and IOS users.

KuCoin

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KuCoin is a global cryptocurrency exchange that supports the buying and selling of cryptocurrencies such as BTC, LTC, XRP, ETH, and more. Supporting over 133 cryptocurrencies, KuCoin supports several markets and hosts hundreds of cryptocurrency trading pairs. With a simple user interface, its mobile app is available to both IOS and Android users. Ku coin also offers trading options such as spot trading, margin trading, futures, and more. To get started with KuCoin, create an account here.

HUOBI PRO

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Headquartered in Singapore, Huobi Pro is another global cryptocurrency exchange that facilitates the purchase, sale, and trade of over 100 digital currencies such as BTC, ETH, LTC, XRP, and more. With a simple laid-out interface, Huobi’s platform provides some trading components such as charting, market depth-data, price feeds, and more. It offers hundreds of trading pairs and unique trading services such as institutional trading accounts, derivative tradings, spot and margin trading. It also constitutes a low trading fee, extensive customer support, with a mobile app available to Android and IOS users. To get started, create an account here.

eToro

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A cryptocurrency exchange platform that encourages its users to adopt its social trading option. With eToro, investors can copy the trade movement of successful investors. It also offers a Copy Portfolio that allows users to copy the entire portfolio of traders instead of just one at a time. With more trading instruments, traders can maximize more profits. The site requests verification after the creation of an account. It is available to both Android and IOS users. 

CEX.io

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A global cryptocurrency exchange that supports digital assets and promotes the buying, selling, and trading of cryptocurrencies. It offers multiple trading pairs and supports fiat currencies such as USD, GBP, EUR, RUB, and more. CEX supports various payment methods as VIS, MasterCard, Sepa, SWIFT, and more. With CEX, you have access to margin trading that is encouraging for both beginners and advanced traders. However, CEC is limited to some countries such as Libya, Syria, North Korea, Côte d’Ivoire, Nigeria due to some financial regulations. Its mobile app is available for Android and IOS users.

BitFinex

BitFinex is an advanced trading platform that allows the purchase and sales of cryptocurrencies. It offers multiple trading pairs and a variety of order types. Although it supports lots of trading options, it is not available to US customers. It offers varieties of trading features that include derivative trading, margin trading and funding, staking and lending services, and OTC services. BitFinex supports fiat currencies such as USD, EUR, GBP, JPY and accepts payment methods such as fiat deposits and bank transfers. Its app is available for Android and IOS users.

ByBit

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ByBit is a P2P cryptocurrency exchange platform that allows cryptocurrency activities such as buying, selling, and trading. It offers multiple varieties of trading pairs to its users. Although ByBit does not accept fiat deposits, its partner companies such as Fiat Gateway accepts fiat. With ByBit, you have access to leveraged trading, margin trading, and more. ByBit offers two types of perpetual contracts to its users – Inverse and USDT. However, it only has three types of orders for its customers – Market, Limit, and Conventional order. With ByBit, you can start trading by creating your account and verifying your identity. 

BITTREX

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A US-based cryptocurrency exchange that has a decent trading volume and allows the exchange of cryptocurrency. It offers over 280 trading pairs and supports stable coins. With Bittrex, your funds are in secure hands as it complies to US rules. To create an account with this exchange, you have to register via your email address, do a KYC, and start trading.

CONCLUSION

Numerous crypto exchanges exist outside Binance. However, it is essential to choose the one that suits your needs and start trading.

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