This is a very simple tutorial on how to convert ETH and EUR. It is written in the easiest way possible so that it can be understood by beginners and also by those who have some knowledge of cryptocurrency markets. In this article, we will discuss the 0.42 ETH to EUR conversion.
About ETH – Ethereum
ETH is the acronym for Ethereum (Ether, in short). It is a cryptocurrency that is based on the blockchain. The value of the ETH depends on demand. There is a hard cap on the number of coins in circulation. The value of Ethereum in USD is $3,109.41
About EUR – Euro
EUR is the acronym for Euro (Euro, in short). It is a currency used in most European countries. One EUR equals $1,14.
How to Convert 0.42 ETH to EUR
Step 1 First, you have to have a wallet with Ethereum. This wallet can be any crypto wallet such as MyEtherWallet or provided on their website. (Please read my previous article on how to create a wallet in ETH)
Step 2 Log in to the exchange website you wish to convert your ERC20 token into EUR. For example, if you want to convert 0.5 ETH into EUR, use the Kraken exchange platform, go to the Currency tab in the top right corner, and select Euro from the drop-down menu option.
Step 3 You will now see your current balance in ETH and other currencies that you hold in your account at this exchange platform. Select the amount you wish to convert from your current balance, for example, 0.5 ETH
Step 4 Once this is done, we will complete your transaction. If you want to change the quantity of EURs, then repeat the same process but choose Euros instead of ETH and check if it is a Buy or Sell option. (Sell Euro for ETH)
Some General Tips To Know About Cryptocurrency
The value of cryptocurrencies is based on demand and supply. The more demand people have for it and the lesser the supply, the higher its value. If a coin is less in demand or supply increases, its value decreases.
There is only a limited number of coins that can be in circulation at any time. So when the demand for these coins increases, their price also goes up.
If you hold more coins worth small amounts, it becomes challenging to sell them at a profit without affecting their prices. That’s why large investors keep small quantities of many different cryptocurrencies. Online wallets are very secure from computer hacking. But beware of the sites that ask you to upload your keys on them. They may be fake sites that will result in your cryptocurrencies being stolen by hackers.
Why Use Alligat0r Platform?
Alligat0r.com platform is easy to use and navigate. It provides a very user-friendly interface with an intuitive design. The exchange platform can be used by beginners and cryptocurrency experts who wish to trade directly from their wallets.
The platform supports both tradings in as well as out of its wallet. One can also combine both methods of trading.
The platform is highly secure and confirms all the transactions within seconds. It provides a very convenient mobile application for Android and iOS users. The choices for the currencies to trade in are many. You can use EUR instead of ETH if you wish to buy or sell it in your own country, either USD or any other currency like GBP, JPY, CAD, etc. depending on which country you live in.
Converting your ETH tokens into EUR can be done straightforwardly through one of the processes we explained in this article. Many platforms offer similar services, but Alligat0r is among the most secure and easily navigable exchange platforms.
I am Campurro, one of the founders of MonetaVerde Coin.