How to convert ETH, BTC, and other cryptos on FTX
- Looking for an exchange that allows for instant, zero-fee conversions between spot assets?
- How to Convert BTC, ETH and other crypto assets on FTX
- The FTX exchange allows you to convert your coins/tokens at zero fees
Follow Invezz on Telegram, Twitter, and Google News for instant updates >
Looking for an exchange that allows for instant, zero-fee conversions between spot assets? FTX is that platform, one of the world's largest cryptocurrency exchanges.
You can buy and sell hundreds of tokens on the exchange, and benefit from advanced trading services, including futures. Led by one of the best minds in the crypto space in CEO Sam Bankman-Fried, FTX has attracted millions of users due to its low fees, large coin selection, NFT marketplace and FTX debit card.
Today, we look at one of the trading features FTX users have found to be increasingly useful- the ability to easily convert from one token or coin to another.
How to Convert BTC, ETH and other crypto assets on FTX
As noted above, converting between spot crypto assets on FTX is easy, instant and one of the cheapest ways to trade.
If you already have an asset in your exchange wallet and don’t want to use an order book, then simply convert it into another asset. It takes seconds on this platform.
What to do if you have BTC and wish to have a USD stablecoin:
Go to the FTX exchange wallet page.
Choose the coin you want to convert, in this case, it’s Bitcoin (BTC).
Click on the “CONVERT” button to open up a panel showing the conversion.
Next is to enter the amount of BTC to get the price. If all looks good for you, complete the process by again clicking on the “CONVERT” button.
If you are using FTX.US, go to this page and locate the convert option. The process is the same as above.
Can you convert tokens other than BTC and ETH?
Yes. FTX customers have the luxury of converting between a wide range of tokens, fiat currencies, and even leveraged tokens. Easily convert from or to FTX Token (FTT), Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Fantom (FTM) and hundreds of other tokens, stablecoins, and leveraged tokens.
Why convert your spot assets on FTX?
The FTX exchange allows you to convert your coins/tokens at zero fees, meaning there are no hidden fees as what is quoted is what you pay.
The other thing is the convenience and ease of use that come with the uncomplicated user interface. You don’t need to execute a trade via the order book. Simply choose the coin to convert and have the desired asset within seconds.
Remember there’s a spread
No hidden fees and the difference in price quotes largely depend on prevailing market conditions. Connected to this is something we call a spread, which FTX says applies to the conversion trades.
In simple terms, the spread refers to the difference between the prices of a crypto asset in terms of its buy and sell values at the time you execute a trade.
For example, if you buy SOL at $83.30 and sell at $83.12, the spread would be $0.18. Consider this whenever you elect to convert one coin into another.
How to convert on FTX conclusion
Converting coins and tokens on the FTX crypto exchange is fast and most probably the cheapest offering in the crypto market. The “convert” function is easy to spot on the wallet page, and you can convert from or to most of the top cryptocurrencies and stablecoins.
Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro.
77% of retail CFD accounts lose money.