Since its launch in 2009, Bitcoin (BTC) has been the most popular cryptocurrency. This position results from Bitcoin being the first cryptocurrency ever to exist. It is also the most valuable digital coin by market capitalization. No wonder most crypto investors and traders have this asset in their portfolios.
However, other cryptocurrencies have emerged over the years. Currently, there are thousands of digital coins and tokens. Collectively, they all are known as ‘altcoins.’ One of the cryptocurrencies that have attracted the interest of many investors is Cronos (CRO). This digital coin hit the market in December 2018 with an initial price of $0.017 as per CoinMarketCap.
However, over the years, Cronos has appreciated significantly. In 2020, the CRO price reached $0.1798 on August 31. That was a big price climb compared to the initial price. The following year was even better for this cryptocurrency. It set its all-time high price on November 24, 2021, at $0.9698.
However, the CRO price has declined sharply during the first months of 2022. No wonder many investors rushed to convert CRO to BTC to protect their investments. Bitcoin is widely regarded as a safe crypto investment and an effective hedge against inflation. Hence, in times of turmoil in the crypto market, swapping other coins to Bitcoin is an intelligent move.
Convert CRO to BTC on a Reliable Exchange Platform
Cronos is a cryptocurrency created by the Crypto.com payment and financial services company. It is the native digital token of the Cronos Chain, a decentralized open-source blockchain. This token is compliant with the ERC-20 standard. ERC-20 tokens run on the Ethereum network. Hence, converting coins from the Ethereum network to the Bitcoin network is neither straightforward nor cheap.
Luckily, the Letsexchange.io – instant crypto exchange allows swapping digital coins from different networks at very competitive prices. What’s more, crypto swaps are performed instantly. If you want to convert CRO to BTC using this platform, you have to follow these simple steps:
- Find the exchange widget on the main page of LetsExchange’s website. You can start swapping coins immediately since no registration or KYC procedures are required.
- Select CRO in the You Send field.
- Select BTC in the You Get field.
- Input the CRO amount that you want to swap for BTC.
- Input the receiving wallet address.
- Choose your preferred type of exchange rate (floating or fixed). A floating rate will allow the exchange rate to vary as the market dictates. In contrast, a fixed rate keeps the exchange rate for the duration of your transaction.
- Once you choose the exchange rate type, press the Let’s Exchange button. The website will display a screen with all the details of the transaction. If you agree with all the displayed data, press the Accept button.
- To complete your crypto swap, send the CRO amount to the deposit wallet address that the exchange widget will provide.
After completing these easy steps, the platform will process your transaction without delays. If you want to convert Bitcoin to Cronos or any other crypto pair for that matter, you follow a similar procedure. This exchange allows you to swap more than 360 digital coins and tokens.
To simplify these cross-chain swaps, you should use a multi-currency wallet to hold your crypto assets. Some wallets allow you to store Bitcoin and ERC-20 tokens on the same device (in the case of hardware wallets). Other types of wallets are in the form of software for desktop computers and mobile devices. You should select the crypto wallet that adapts better to your needs.