When converting XMR to BTC you should take into account a reliable exchange in order to maximize the profit. We’ve made a list of useful advice and platforms to facilitate this task for you. 

Let’s take a look!

Advice 1. Select an Exchange

The lower the exchange fees and the higher the limits, the more profitable it is for you. A multifunctional converter is also useful, for example, the xmr to btc exchange tool. 

Here are some worthy contenders to check out:

Platform Fees

• Godex – has the lowest fees on the market,
• Binance – 0.1% of your coin,
• Coinbase – a spread fee of 0.50% + a flat fee ranging from $0.99 to $2.99, and
• Bisq Fees – a taker’s fee of 0.001 BTC + 0.10%, per 1 BTC, and a maker’s fee of 0.007 BTC + 0.70%, per 1 BTC. 

Platform Limits

• Godex – no limits at all,
• Coinbase – $25 000 per day for Coinbase Pro users,
• Binance – 2 BTC for Level 1 users and 100 BTC for Level 2 users (per day), and
• Bisq – diversified limits according to the payment method, but the maximum is 2 BTC (in a single transaction).

Advice 2. Use Safe and Reliable Wallets

Safety has always been a priority in crypto. You should only use wallets that are reliable and fit your crypto-volume requirements.

Cold Wallet

A cold wallet is an offline wallet that cannot be compromised since it isn’t connected to the internet.

Types

• Paper. A paper wallet is a piece of printed paper that contains the QR code and a set of keys necessary to foster crypto transactions.
• Hardware. A hardware wallet stores your private keys (combination and QR code) in a security-assured hardware device.

Hot Wallet

A hot wallet maintains a connection to the internet.

Types

• Desktop. A desktop wallet is stored on a desktop. It’s usually intended for large volumes of cryptocurrency. You have to secure your computer with an antivirus.
• Mobile. A mobile wallet is stored on your phone. It’s a widely used one because of its simplicity. Usually, users operate with small amounts.
• Online. An online wallet is not stored on your phone or computer, rather on a cloud resource. This wallet is good against device breakdowns or loss.

Advice 3. Maintain Your Privacy

Transactional Privacy Definition

Transactional privacy means that the details of a transaction are known only to the two parties involved in the transaction.

Importance of Transactional Privacy

• It helps to prevent data from being compromised (any centralized storage can be hacked, and it does happen).
• There is wider freedom because you aren’t controlled by a bank. 
• Third parties don’t have access to vital information. 

Advice 4. Avoid Platforms with Obscure Reputations

Crypto is established on anonymity. The least an exchange platform should offer is a clean background. It’s best to read the comments and reviews about platforms and avoid shady looking sites.

Advice 5. Keep to Regulations on Cryptocurrency Operations

There may be legal restrictions on BTC and/or XMR, or crypto operations in general, in some countries. Take maximum care to keep within any special laws so that all transactions can be smoothly achieved.

Conclusion

You are now familiar with the basics of successfully converting XMR to BTC. While there are several considerations, selecting a beneficial exchange platform tops the list. Some crypto services charge too-high transaction fees and fix limits to make users conduct exchanges repeatedly on their platform. The choice always depends on your personal needs and other important factors.