Home | Community | Message Board

NorthSpore.com BOOMR Bag!
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Jump to first unread post Pages: 1
OfflinegeokillsA
∙∙∙∙☼ º¿° ☼∙∙∙∙
Male User Gallery

Registered: 05/08/01
Posts: 23,417
Loc: city of angels Flag
Last seen: 10 minutes, 7 seconds
Re: converting/swapping ETH to BTC on ledger [Re: Forrester]
    #28596445 - 12/24/23 10:18 AM (1 month, 4 days ago)

The cheapest way for you to gain exposure to BTC right away, would be to swap into "wrapped bitcoin" (WBTC) on the Ethereum network.  This isn't native BTC, but it has historically proven reliable to track price since it is bridged to BTC.  You can use the MetaMask browser based wallet to connect your ledger to a decentralized exchange like Uniswap, and then swap your ETH for WBTC.  Right now, the costs incurred would be around $7 network execution fee (aka "gas") and 0.051% price slippage which is negligible.

If you want native BTC on the bitcoin network, your lowest cost option would likely be to send your ETH to a centralized exchange with low fees and trade it using a ETH/BTC trading pair, and then send it back to your Ledger's BTC address.  Since you already have a Coinbase account, I'd probably just use that, just make sure you use their "advanced" interface so you don't pay the exorbitant execution fees that are incurred on their basic interface.  Recognize also that trading from ETH to BTC is a taxable event under the US tax code (i.e. if your ETH has appreciated in value from when you acquired it, you are expected to pay capital gains tax on that net gain).


--------------------

--------------------
··∙   long live the shroomery  ∙··
...π╥ ╥π...


Extras: Unfilter Print Post Top
Jump to top Pages: 1


Similar ThreadsPosterViewsRepliesLast post
* BTC as an investment extreme 1,178 12 09/07/13 01:07 AM
by LTSwoomz
* Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects
( 1 2 3 4 ... 500 501 )
geokillsA 250,325 10,002 01/27/24 05:04 PM
by geokills
* Can I get a loan? for dis investment tospace 2,233 18 03/04/12 07:51 PM
by Epigallo
* The Official Shroomery Silver and Gold Thread *DELETED*
( 1 2 3 4 ... 25 26 )
Gilgamesh18 34,042 506 01/05/20 06:35 PM
by Ahab McBathsalts
* ..hellur!! hTx 773 14 04/12/13 12:45 AM
by hTx
* Bitcoins easy purchase
( 1 2 all )
TokeUp 2,949 22 01/27/13 12:59 PM
by twinkie
* US Begins Regulating BitCoin, Will Apply "Money Laundering" Rules To Virtual Transactions Lana 3,532 17 05/01/13 06:57 PM
by Heffy
* Internet 'Bitcoin' Worth More Than 20 State Currencies
( 1 2 all )
Deadkndys420 4,092 37 05/12/13 12:36 PM
by RonaldFuckingPaul

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
160 topic views. 0 members, 3 guests and 2 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.026 seconds spending 0.008 seconds on 17 queries.