If you decide to convert ZEC to BTC, you will find out that ZEC isn’t among the most widely supported cryptocurrencies. Thus, to exchange it, you first need to find a platform that supports the coin. Once done, check whether the platform complies with the basic requirements:
- The website is SSL-protected to avoid information leaks and data loss. If the website isn’t protected, you shall not entrust your funds to it.
- The live chart and a live calculator are available to check the exchange rate and to confirm that the transaction result is convenient for you. These tools are available 24/7 and are offered for free.
- Customer support is available to reply to possible questions and resolve issues. Check whether there is always somebody online and how fast and professional their communication via email is. Only if you are happy with everything you can move on to swapping your coins.
- Don’t forget about fees. While some exchanges charge very low fees, in the case of other platforms, fees might be so high that swapping a significant sum of coins might be not profitable.
- Check whether the platform provides custodial or non-custodial services. In the first case, the exchange can manage your funds. In the second case, you are the only one who can manage your money.
If you don’t mind all the registration and verification procedures, you can choose any platform. However, if you prefer to swap your coins without registration and verification, check whether the selected platform has such an option. In most cases, you can exchange crypto only without KYC. If you deposit or withdraw fiat funds, you need to pass all the KYC procedures.
Now, let us have a look at how the entire procedure might be processed.
Exchange Process Shall Be as Simple as Possible
Now, let us move to the exchange procedure. Whether you are a professional trader or a beginner, the entire procedure shall be as simple as possible. If you don’t understand something, you can ask customer support but considering that cryptocurrency is highly volatile and every time by asking you waste time, this is not the best option that might exist. Thus, it is always better if you can handle everything on your own.
That’s why the majority of exchanges offer an all-in-one exchange widget. There, you just need to perform some common steps such as:
- Provide the coin to sell in the left or top dropdown.
- Provide the number of coins to sell.
- Provide the coin to buy in the right or lower dropdown.
If you have a wallet on the exchange, you don’t need to deposit any funds. If you use a wallet of a third party, you will be asked to deposit the needed funds. After that, a special tool looks for the best deals if the selected exchange provides such a service.
Once the search is completed, the transaction is performed, and the funds in a respective coin are transferred to your wallet.
