If you decide to enter the wonderful world of cryptocurrencies and buy your first Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) from Coinbase (many of them fall into three main categories), we also talked about. With XVG, NEO, OMG, WTC and others with friends, the coins are known as altcoins, unlike the Big 3, in that they cannot be bought on Coinbase, so they have to be bought from other exchanges. My favorite exchange is Binance. If you don't have an account, i recommend you use it so that you can go through the following steps.
Binance is a safe exchange that many people use and their fees are halved. Since they have their own Binance coin (BNB), the payment of the transaction fee is halved.
Registration
Use the link below to register with Binance.
Clicking on this link will take you to the bottom of the page.
Click the register button and fill in all the details. Click the Register button, then click on the confirmation email sent to you.
Protect your capital and investment
I recommend 2FA to protect your assets and investments. 2FA, or two-factor authentication, basically adds another level of security. Next to your password. Therefore, even if someone has hacked your password, they will not be able to login without the app's Google OTP ID on your smartphone.
Open the Google Authenticator app, click the red + button below, then scan the QR code on the screen and enter the 2FA code provided by the app. It's easy to protect yourself.
Don't skip this step If the last line of defense is your password and username, you can easily lose all your resources online. Enabling 2FA is very important.
Transfer the crown from COINBASE.
Note: If Coinbase is not activated in your country / region, you can buy cryptocurrency on any local platform and then follow the steps below to download it to Binance.
After setting up your Binance account, you may need to transfer money from Coinbase, you can follow these simple steps:
1. Log in to Coinbase and go to your account as shown below.
2. Click Submit After that you will see this dialog box.
3. Go to your Binance account, select Money, then choose Deposit and Withdraw.
4. Find the coin you want to deposit. In our case, we keep Ethereum, you can also perform this procedure on your smartphone.
5. Then click on Currencies to display Ethereum Deposits and Withdrawals tab, copy Bitcoin deposit address, paste into Coinbase's "To" field and enter the Bitcoin / USD amount to be sent.
6. Click Continue.
Your Bitcoin entering Binance Exchange can take a while and it depends on a number of factors. Once you get there, you can buy cryptocurrency.
Trade
Once bitcoins have entered your Binance account, you can start trading. Open the "Exchange" tab and click "Basic". A screen will appear.
As with FOREX, cryptocurrency transactions are traded in pairs, there is always ETH / BTC, BTC / XVG, BTC / WTC, and so on.Most of the coins are traded in BTC, but some also support ETH and LTC.
Find coins
If you are using Ethereum as a reference, please follow these easy steps:
A.) Click the ETH tab on the right.
B.) Clicking on the XVG / ETH link will take you to a new page.
Buying coins
A.) Go to the market
B.) Set the amount you want. (Either option is the token amount or the total percentage of your Ethereum balance.) This option allows you to buy at your desired amount or price. Always use it wisely.
C.) Click to buy XVG.
Welcome to the club cryptocurrency Special for traders all over the world I just learned how to use ETH to buy altcoins.
If the altcoin is not paired with ETH, then you need to exchange ETH for BTC and re-trade as usual. By clicking on the BTC tab next to the item you clicked earlier.
Exchange altcoins to BTC
1. Click on the BTC tab next to the ETH tab that was previously used.
2. Find ETH
3. Click ETH / BTC Pairing.
Sell ETH in BTC
1. Click on the market
2. Enter the amount of ETH you want to sell or the percentage of your total ETH balance.
3. Click Sell ETH.
4. * Drums ** Let's put some money :)
Now you can buy matched ETH and other altcoins. Welcome to the world of crypto. There's no better time than here. Enjoy it.
Thanks for reading!
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