What is Phemex’s Cryptocurrency Converter? How does it work?
Bitcoin and Cryptocurrency Converter
Phemex’s cryptocurrency calculator allows you to instantly convert between cryptocurrencies and fiat currencies. Convert Bitcoin to USD today.
The Crypto Calculator allows you to instantly convert crypto to USD and vice versa. Phemex also provides real-time conversion quotes so you can get the latest Bitcoin to Dollar exchange rates. If you are wondering how much Bitcoin is, use this crypto calculator to stay up to date!
This crypto calculator and converter is a new Phemex feature that allows you to easily convert to BTC or convert assets in your spot wallet to USD.
Phemex Crypto Converter currently supports all conversions between Bitcoin, Ethereum, Tether and USD. These represent the three most popular cryptocurrencies (BTC, ETH, USDT) and the most popular fiat (USD) used for trading. More coins will be added, so stay tuned.
How to Convert Cryptocurrency to Fiat on Phemex
Crypto converters serve as a convenient way to convert dollars to dollars. On the Crypto Converter page, select a cryptocurrency from the first drop-down menu or enter the amount to be converted in the From field. From the second drop-down menu, select the fiat currency you want to convert, such as USD. After entering the desired amount, the Preview Conversion button will be activated, allowing you to run the conversion.
By converting your spot wallet BTC to USD, you can transfer these funds to your USD contract trading account and use it to trade all USD-margin perpetual contracts with up to 20x leverage. So, when you want to trade a pair of perpetual contracts, you can convert BTC to USD. Please note that the converted USD cannot be withdrawn immediately.
How to Convert Fiat to Cryptocurrency on Phemex
A crypto calculator allows you to seamlessly convert to Bitcoin and other virtual assets. On the Crypto Converter page, select the fiat currency you want to convert from the first drop-down menu and enter the amount in the From field. From the second drop-down menu, select BTC or the virtual asset you want to convert. After entering the desired amount, the Preview Conversion button will be activated, allowing you to run the conversion.
The crypto converter can only be used with Phemex spot wallet funds. When converting to USD or BTC, the option to instantly transfer these assets to the corresponding contract trading account is selected by default. Please uncheck the box to keep the converted funds in your spot wallet.
Condition of Cryptocurrency and Fiat currency conversion
For USD and USDT, the minimum conversion amount is 10 and the maximum conversion amount is 100,000. For BTC, the minimum conversion amount is 0.001 and the maximum conversion amount is 2. For ETH, the minimum conversion amount is 0.01 and the maximum conversion amount is 30. These limits are set for each conversion request to be executed.
After you set your conversion limit and click the Get Quote button, you will receive a quote based on your current conversion rate, which is valid for 7 seconds. When this time expires, you must click the Get Quote button again. If you are satisfied with the quote and click OK while the quote is valid, the actual conversion takes place within seconds. A pop-up window will appear indicating whether the conversion was successful or not.
Why convert Cryptocurrency to another Cryptocurrency?
These two features are different and should not be compared directly! Buy Crypto allows you to use your credit or debit card to purchase cryptocurrencies you don’t originally own. Crypto Converter allows you to convert existing virtual assets or USD in your Phemex spot wallet to other virtual assets or USD. Buy cryptocurrency transactions count as deposits to your spot wallet, whereas crypto converter transactions do not. If you use a crypto converter to convert your cryptocurrency to USD or BTC, you can choose to have the converted funds automatically transferred to your contract trading account.