What is Bitvavo Convert and how does it work?
Summary
This article explains how to use the Bitvavo Convert feature to swap one crypto asset directly for another. It covers how the conversion works on the app and website, where to find the feature, and the applicable fees.
Introduction
Bitvavo Convert lets you swap one crypto asset directly for another in a single transaction. This feature is available on both the Bitvavo App and the Bitvavo website.
You choose the asset you want to convert and the asset you want to receive. Bitvavo shows you a real-time quote, including the conversion rate and the Convert trading fee. If you accept the quote before it expires, your trade is executed immediately and the new asset is added to your portfolio. The minimum Convert amount is €5.
Bitvavo Convert uses a price guarantee order to execute the swap. In this case, a market maker covers the market risk for up to 5 seconds. Bitvavo's trading mechanism ensures that customers always receive the guaranteed price. To manage this, the market maker adds a spread to account for any unforeseen price fluctuations during this period. This approach allows the market maker to assume the market risk for 5 seconds, ensuring that customers benefit from price stability and certainty. As a result, you will receive the exact amount you previewed and confirmed.
You can find out more about the price guarantee in this support article.
When clients trade via price guarantee, they are trading against Inveniam B.V. (Inveniam). Inveniam is a group entity of Bitvavo Holding B.V. (Bitvavo Holding). Bitvavo Holding is the mother company of both Inveniam and Bitvavo B.V. (Bitvavo), the operator of the trading platform. Inveniam operates independently from Bitvavo B.V. as it has its own management and is strictly separated operationally from Bitvavo.
Bitvavo discloses potential conflicts of interest. We kindly refer you to our conflicts of interest disclosure for more information.
Step-by-step instructions
App
You can access the Bitvavo Convert feature in two ways:
- Option 1: From the main portfolio page, tap the blue button at the bottom and choose "Convert".
- Option 2: Select an asset from your portfolio and tap the Convert icon at the bottom right.
Then follow these steps:
- Select the asset you want to convert.
- Select the asset you want to receive.
- Enter the amount you want to convert.
- Tap "Preview" to see the quote, including the rate and fee.
- Tap "Convert" to complete the transaction.
Website
- Go to the page of the digital asset you want to convert.
- Open the Trade section and click the "Convert" tab next to the Buy and Sell options.
- Enter the amount of crypto you want to convert.
- Select the asset you want to receive.
- Review the estimated amount you will receive on the preview screen.
- Verify all details on the preview screen, then confirm the conversion.
FAQ
Where do I find the Convert option?
On the Bitvavo app, you can access Convert from the main portfolio screen or from an individual asset page. On the website, the Convert option is located in the Trade section on the asset's page, right next to the Buy and Sell tabs. You can also find Convert on Bitvavo Pro on Web. It is not yet available on Pro App.
What fees apply when I convert crypto?
The Convert feature applies a single trading fee for the entire transaction. This fee is always displayed clearly when you preview the quote before confirming the swap.
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