Step 1. Pick a Crypto

Step 2. Exchange

Step 3. Receive your funds

Exchange now

Fixed Rate

You send

BTC

You get

ETH

1 BTC ~ ETHExpected rate

Exchange

1

Pre step

Exchange now

Fixed Rate

You send

BTC

You get

ETH

1 BTC ~ ETHExpected rate

Please be careful not to provide a smart contract as your payout address

Enter the recipient’s address

+ Add refund addressRemove refund address

Payment ID (optional)

Enter refund address

In case something goes wrong during the exchange, we might need a refund address so we can return your coins back to you

Next

You send

1btc

1 BTC ≈ 53.201195 ETH

You get

≈

0xcC12d027dCe8E5AB896ac64b7811b267

estimated arrival≈ minutes

refund address

destination tag

I've read and agree to Terms of Use and Privacy Policy

Confirm

You send

to address

tx id

You get

to address

destination tag

Awaiting payment

Waiting for exchange

Sent to your wallet

Error during exchange.
Funds for this transaction will be returned to the sender's address or the specified refund address.

Error during exchange.
Please contact support.

Exchange completed.

[allcurrencies]

Due to high traffic on the Bitcoin blockchain, sending Bitcoin can be a pricy and slow process. Anyone who has been waiting in agony for their Bitcoin to arrive knows this. You don’t want to pay an arm and a leg in fees, and at the same time, you want to see you Bitcoin arrive safely in your wallet.

Stuck transactions are held in a pool called mempool where miners prioritise transaction depending the fees attached to them. If a transaction gets stuck for too long in the mempool, it will return to the original wallet. Paying a higher transaction fee increases your chances to be included in the next block. You can check out Bitcoin fees and estimated time here.

You can see the current mempool statistic here.

This site has a list of unconfirmed transaction on the Bitcoin blockchain.

To find your Bitcoin transaction, you can search for it using Transaction Hash inside a Block explorer.

What is a Transaction ID(TXID)?

Transaction ID is also known as Transaction Hash. This is the ID of a Bitcoin transaction and it is made up of a string of analterable characters that is generated from the information of the specific transaction. You can search for Bitcoin addresses for you transaction at block explorer here.

The Use of Bitcoin Accelerators

To speed up your transaction, you can use a Bitcoin accelarator which sends a request to a mining pool to include your transaction in the next block. There are several Bitcoin accelarator to choose from.

Free Accelarator service.

ViaBTC has both free and paid accelarator service. To use ViaBTC you must know the TXID of your delayed transaction that at least include a fee of 0.0001BTC/KB. ViaBTC supports acceleration of 100 free transactions per hour.

You can resubmit your TXID at next hour if it surpasses the hourly limit. If you want to use the paid acceleration you must sign in to use the service.

The fee will be deducted from your BCH(Bitcoin Cash) account balance. If the balance is insufficient, you will need to deposit to continue. ViaBTC will prioritise the submitted transactions in the next block they mine. You can learn more about ViaBTC here.

BitAccelerate is a free Bitcoin accelerator service. All you have to do is to paste your TXID and click Accelerate. Their service will rebroadcast your transaction via 10 Bitcoin nodes. You can learn more about BitAccelerate here.

Paid Accelarator service.

BTC.COM transaction accelarator is another accelarator service that offers to speed up your Bitcoin transaction. To use this service, enter your TXID and it will calculate the estimated price. This service cooperates with several leading Bitcoin pools. According to their website, using their transaction accelerator can increase the probability of confirming transaction to 75% within 1 hour and to 98% within 4 hours.

How long can a Bitcoin transaction stay unconfirmed?

If you are wondering how long a Bitcoin transaction potentially could stay unconfirmed, you can check out the Bitcoin Fee Calculator here.

Since it is not a good idea to leave your Bitcoin on any exchange, I recommend either a hardware wallet like Ledger S or a software wallet like Atomic or Exodus.

What is a Bitcoin wallet?

A Bitcoin wallet is a program that allows you to receive, store, and send bitcoin. You can also store other altcoins in these wallets.

A hardware ledger wallet will store your bitcoin in a small device outside of your computer.

Examples of a hardware wallets are Ledger S and Trezor.

A software wallet stores your bitcoin in the program on your computer or your mobile.

Examples of software wallets are Exodus and Atomic.

Setting up your Wallet is easy enough. You choose a password and then you need to write down your recovery phrases in case you need to restore the program.

Non-Custodial wallet vs Custodial wallet.

I recommend using a non-custodial wallet. A non-custodial wallet means you have full control over your private keys. A custodial wallet means your private keys are held by a third party. Many exchanges have wallets that hold your crypto for you in a custodial wallet. It is not recommended to keep your crypto on the exchange for longer than you have to.

The next step is to find your Bitcoin Address.

How to find your Bitcoin Address

Once you set up your wallet, click on receive. Make sure you choose BTC since the wallets are also used to store altcoins. Copy the address and then login or register at your chosen exchange.

Once your registration is completed, you are ready to go. Inside the exchange, it is easy to buy Bitcoin. Inside Binance, you can use your debit/credit card and direct deposit. Once you have your Bitcoin, click on withdraw, and send it to your Bitcoin address.

What is the smallest amount of Bitcoin you can buy?

Bitcoin is divided into 1 million Satoshi. 🙂 However, you can’t buy 1 Satoshi as the mining cost is higher than 1 Satoshi. Binance has a minimum limit of 15 USD when buying Bitcoin.

History of Bitcoin

Bitcoins is a cryptocurrency invented in 2008 by someone called Satoshi Nakamoto. Bitcoin is a decentralized digital currency that has gained a lot of trust and therefore value. The gain in trust comes from it being decentralized and it’s ledgers can’t be corrupted by people. It is greed-proof. Bitcoin is the antithesis of government printing large sums of money and paying off bankers and wall-street guys.

You can read more about the major players in the 2008 financial crisis here.

The money we are using today is called fiat money. It is simply government-issued money that is not backed by any commodity. The US dollar was taken off the gold standard in 1971 and fiat money was created instead.

Fiat money is centralized with an authority controlling it, either by governments or central banks. Since there is no actual commodity backing paper money, the trust lays with the government who gave the fiat money value in the first place.

Depending on where you live, banks can get bailouts, bail-ins or both. Whether the government chooses to bailout the banks or the banks take people’s own money to bail themselves out, what is left when the dust settles are a whole lot of resentment, personal tragedies, and distrust.

The problem with centralized money is that it can be manipulated by the controlling authority. Printing money is an example of this. By not limiting the amount that can enter the market, the value of the money can drop. This can lead to inflation.

Today, most people use digital money through their credit/debit cards and wire transfers. Online ledgers controlled by banks keep tracks of who owns what when it comes to digital money.

When bitcoin was invented in 2008, it successfully solved the problems seen with centralization.

Unlike with fiat money, Bitcoin cannot be printed. You can not add more Bitcoin to the system.

Unlike with fiat money, Bitcoin cannot be corrupted by a centralized authority.

Unlike with banks ledgers, Bitcoin ledgers are tranparent. You can look into all the transactions taking place, but you can’t see who the owners are.

How does Bitcoin do this? Bitcoin uses a universal ledger on the blockchain. The blockchain is a network of communication nodes that run the Bitcoin software. Every computer that participates in the Bitcoin system also keeps a copy of the ledger. The Bitcoin ledger and the Bitcoin blockchain are the same.

Bitcoin is not a physical product, but a ledger showing the transactions. When you buy Bitcoin, you buy a specific Bitcoin address in the ledger. You can use this address to send funds to another address on the blockchain.

With the help of cryptocurrency exchanges, you can purchase Bitcoin and also turn your Bitcoin into fiat money.

Bitcoin’s first transaction

The first Bitcoin transaction ever made was in 2010 when 10000 bitcoin was transferred to buy 2 pizzas. You can’t talk about Bitcoin withouth thinking about these 2 pizzas who would be worth close to 200 million dollars when this post is written.

How does Bitcoin avoid double spending?

Double spending is the risk of a digital currency being spent twice by copying the digital token and sending it to a receiver while keeping the original. Bitcoin solved this problem by timestamping transactions and then broadcasting them to all the nodes in the bitcoin blockchain network. It uses a hashing algorithm to write new transactions into the ledger. Each timestamp includes the previous timestamps in the hash creating a record that can’t be changed.

Bitcoin is a solution to the problems of fiat money. Let say for example inflation is on the horizon. How do you safeguard your money? In times of crisis, many buy Gold and store it in a safe place. This is why when the price of dollars goes down, the price of Gold goes up. The demand for Gold in bad times go up. In many ways, Bitcoin is the new Gold. Many Bitcoin enthusiasts see Bitcoin as insurance against financial crisis. When the value of fiat money goes down, the argument for Bitcoin becomes stronger. This is because people want to safeguard their money against inflation.