Bitcoin (BTC) and Ethereum (ETH) are two of the largest and most popular cryptocurrencies in terms of market capitalization, market share, and trading volume. Some users prefer one over the other, while others grow their portfolios for both tokens.
If you’re new to crypto and would like to know how to swap your BTC for ETH, sign up on the peer-to-peer (P2P) crypto payment platform Ka.app. It two swap features that you can use without paying high conversion fees.
What Is Crypto Swap?
Before anything else, crypto swap refers to the process of directly exchanging or converting a specific token for its counterpart value in another token. This means users no longer have to use a ‘middle’ currency to facilitate a transaction when a certain trading pair is not available. For example, if the BTC/ETH trading pair isn’t available, you can use a crypto swap feature to directly convert BTC to ETH instead of using your BTC to buy a fiat currency first (e.g. U.S. Dollar) before trading to ETH.
How Does it Work?
To those who've signed up on Ka.app, crypto swapping works in two ways: through the Easy Swap Engine and the Swap button.
a. Easy Swap Engine
The Easy Swap Engine allows users to automatically convert or swap the crypto payments they receive in another currency. This means if someone wants to send cryptocurrency payments in BTC but you prefer to receive payments in ETH, you can set up the Easy Swap Engine to automatically convert BTC payments you receive (or any other currency available in the app) into ETH.
b. Swap Button
Ka.app has a “Swap” button that enables you to directly swap or convert BTC to ETH, or any other currency available in the app, in just a few clicks
How to Create a Ka.app Account
If you don’t have a Ka.app account yet, here’s how you can get started:
- Sign up on the app by providing your personal information.
- Set up your PIN code.
- Complete the Know Your Customer (KYC) checks. KYC is a due diligence process that verifies the identity of customers to prevent fraud, money laundering, terrorist financing, and other illegal activities.
- Success! Welcome to Ka.app!
How to Swap BTC Payments for ETH Using the Easy Swap Engine
Here’s how you can automatically swap BTC payments for ETH using Ka.app’s Easy Swap Engine feature:
- Click the settings icon on the app’s home page.
- Click “Easy Swap” from the drawer.
- Tick “Enable Easy Swap.”
- Choose Bitcoin on the first dropdown.
- Choose Ethereum on the next dropdown.
- You’re done. Wait for ETH payments to come in.
How to Directly Convert BTC to ETH Using the Swap Button
Follow these steps to conveniently swap BTC for ETH using the Swap button:
- Once you’re on the app’s homepage, scroll down to see the list of assets and click Bitcoin.
- Click the “Swap” button.
- Choose to swap your BTC for ETH.
- Enter the number or amount of BTC you’d like to swap. You may also choose a specific percentage (10%, 25%, 50%, or 100%).
- Enter your pin code to confirm the transaction.
How Much Does Swapping BTC for ETH Cost?
The cost of swapping BTC for ETH in Ka.app depends on several factors: the amount of BTC you want to swap and whether you’ve locked up KASTA tokens in the app or not. Ka.app provides exchange fee discounts to users who’ve locked up KASTA tokens in the app, depending on the tier they enter or the number of tokens they’ve locked up.
How Long Does it Take to Swap BTC for ETH?
Ka.app swaps BTC for ETH quickly, whether it happened through the Easy Swap Engine or the Swap button.
Are There Swapping Limits on Ka.app?
None. You can swap any amount of tokens at any time using Ka.app.
Which Tokens Are Available for Swapping on Ka.app?
The early access version of Ka.app allows you to swap, send, receive, deposit, and withdraw four types of cryptocurrencies: BTC, ETH, USDT, and the KASTA crypto token. More currencies, including fiat currencies, will be available in the next versions of the app.
Is it Safe to Swap BTC for ETH in Ka.app?
Yes. Ka.app uses two-factor authentication, conducts KYC checks thoroughly, and complies with anti-money laundering (AML) guidelines to protect the company and its users against fraudulent and illegal activities. A user can only access their account by entering a verification code from Ka.app, and they can only finish a transaction by entering their PIN code.
I Have Concerns or Questions. How Can I Reach Out?
Ka.app has live chat support so you can send your concerns or questions any time.
