How To Buy Altcoins
Altcoins are any cryptocurrency that’s not Bitcoin. There are now over 1400 cryptocurrencies compared to only 670 back in February 2017 according to Coinmarketcap.
Anyone can buy altcoins, and on most exchanges, you first need Bitcoin in order to invest.
There are thousands of different exchanges you can buy from, each one selling a different selection of altcoins.
Each and every one of them was made for a different purpose. Bitcoin for example was created as a peer to peer payment network. It’s main use is for sending value across the blockchain.
Nowadays, cryptocurrencies exist to serve completely new and revolutionary purposes. Almost every industry on the planet is being infultrated by blockchain based projects, each one aiming to change the way the industry operates and transacts.
They all have their individual uses, and it goes far beyond payments.
To learn about the top 50 altcoins, their price history, what they do and where to buy them, Click Here!
How to Buy Altcoins
There are many ways in which to buy, but first of all, we’d recommend buying Bitcoin. If you don’t know how, check out our guide: How to buy Bitcoin
Bitcoin is the gold standard in cryptocurrency. Most exchanges do not accept cash. The prices are all listed in Bitcoin (often Ethereum and some others too) and you buy everything using it!
You can buy Bitcoin from many different exchanges, but we’d recommend one of the following two options:
LocalBitcoins is a great option, it enables you to buy and sell Bitcoin using almost every payment method available. Direct bank transfer, PayPal and even cash is available. Follow our guide to buying Bitcoin using LocalBitcoins: Click Here
Coinbase is a very easy to use exchange which enables users to buy Bitcoin, Ethereum, Litecoin & Bitcoin Cash. You can buy them using fiat currency direct from them. If you’re happy with one of the above 4, then Coinbase is a great option to get started.
If you’d like to invest in some of the 1400+ other altcoins, read on.
There are many different exchanges, some like Coinbase only support a handful of cryptocurrencies, others support hundreds. Below are 2 of our favourite and ones which allow trading of the largest selection.
Bittrex: Bittrex have a wide selection of buying options, but beginners must take note as new accounts have been suspended until further notice due to such a high demand.
Binance: Binance is already one of the world’s leading cryptocurrency exchanges. They launched only 7 months ago in July 2017 and it’s been reported they’re one of the fastest growing companies EVER! They’re known for their wide variety of buying options and list new coins every day. IOTA is a popular option and Binance is one of the only exchanges which currently support IOTA purchases.
How to Buy Altcoins:
When you’ve bought your Bitcoin, log in to your cryptocurrency exchange account.
There you will find your Bitcoin receiving address.
Send the Bitcoin you’ve bought to the exchange.
You can now buy any of the supported cryptocurrencies on the exchange! Select Bitcoin markets and all the prices will be listed in Bitcoin per altcoin.
How To’s For Beginners:
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