Quick Version Of How To Buy_Bitcoin_and Altcoins cryptocoinbuddy

The Short Version Of How To Buy Bitcoin and Altcoins

If your in a hurry and want to get setup quickly to buy cryptocurrency, Bitcoin and Altcoins, then you’re in the right place!

You will be trading in your local fiat currency dollars, for Ethereum (ETH) and or Bitcoin (BTC) on one of the base cryptocurrency exchanges that allows you to do this.

The text in between the brackets is their code sign (ETH), each altcoin has it’s own, you can see this in the list on coinmarketcap.com

You do not need to buy a whole coin!

Only spend what you can afford. 0.01000000 Bitcoin (BTC) = $153.26 USD at the time of writing, you can check any altcoin’s USD price with the coinmarketcap.com/calculator, set it to the correct coin, then paste in the value, and yes crpto’s are 8 decimal places!

Cryptocurrency Converter Calculator

Join CoinBase, so you can quickly and easily buy one of the cryptocurrencies above, I get Ethereum (ETH) at the moment, as it’s cheaper to send to the many different crypto exchanges you will be joining, to then buy the altcoins your looking for. If you only wanted Ethereum (ETH) and Bitcoin (BTC)? Then that’s all you need to do, is to join CoinBase, I’m more interested in buying into the up and coming altcoins on the other crypto exchanges, somewhere around in the 5 to 50 cent range etc.

Australian’s should also join coinspot.com.au, if the Altcoin your after is listed on coinspot? (Adding more all the time) You could just buy the Altcoin on coinspot then, using AUD currency, once you have deposited the cash, other wise you will be buying Ethereum (ETH) or Bitcoin (BTC) on CoinBase or  coinspot to then send to a cryptocurrency exchange, to then buy the altcoin you are after with the Ethereum (ETH) coin.

What is an Altcoin, block chain and ICO, great short, to the point article. Click Here. Opens in a lightbox frame.

Cryptocurrency Exchange

The main transactions on the cryptocurrency exchanges are made in cryptocurrency and paired with Ethereum (ETH) or Bitcoin (BTC) the top dogs of the crypto coins, that’s why you need to buy some, so you can then trade for other Altcoins on many different cryptocurrency exchanges.

The binance cryptocurrency exchange is one of the largest, this screenshot is the main front page, where you can see the prices of the different altcoins, against the other main two crypto’s,  Ethereum (ETH) and Bitcoin (BTC), the BNB is binance exchange own coin! as seen here. There are discounts on trades when using the binance altcoin to trade with. Learn more about BNB here.

Some of the crypto exchanges are not excepting new signups lately, this is because of the amount of new signups going on lately!

Obviously we didn’t shut down Cryptopia in January 2017, thanks to an investment we were able to keep pushing through. By the 1st of December we hit 500,000 users. On the 31st of December we hit 1,000,000 users. By the 3rd of January we hit 1,100,000 users. By the 4th of January even with registrations disabled for 3 hours, we hit 1,200,000 users. With registrations paused again we’re now sitting at 1,400,000 users. We’ve gone from just 2 people to over 50 people including contractors and consultants and we’re looking to at the very least double that as soon as we can, but that also brings with it its own set of hurdles. I mention all of this only to give context as I would like to acknowledge the complaints and concerns about our level of service. Read More

www.cryptopia.co.nz/News

If you are having difficulties in signing up to buy altcoins, try the new cryptocurrency exchange kucoin, because they are a new crypto exchange, it seems like they are handling all the new signups quite well. I do find kucoin to be a good exchange and they are adding many altcoins all the time and have a few exclusive altcoins too, that was the main reason I joined, to get a specific altcoin.

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coinbase Ethereum Wallet check sms

Here is a pic of me, sending a small amount of Ethereum (ETH) to my binance account from coinbase, rechecking that my address that I”m sending it to is correct!!

No risk here in showing my to address in the images, you can only send me Ethereum and I would be OK with that LOL. Never show anyone your private crypto keys tho! This only matters if you are storing your crypto coins locally on your PC in a software wallet or Hardware wallet, then YOU control the private key and send to address of each coin, when your crypto coins are on the exchanges, you do NOT have access to the private keys.

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Each cryptocurrency has a unique address to deposit to, as seen here on the binance exchange, my Ethereum (ETH) address on binance, click on image to view full size in lightbox to see more.

binance crypto exchange Orders
Bought 671 of the altcoin EthLend (LEND) on binance  with Ethereum (ETH). See the paired crypto name in the list LEND/ETH

binance crypto exchange buy sell page
The binance cryptocurrency exchange buy and sell page above, I could sell 100% of my EthLend (LEND) shown in the screenshot above, not going to tho, good thing about binance is they show you how much an altcoin is worth in dollars, when you hover your mouse over the cryptocurrency pair, as show above also. This was set to market price as shown, we will get into setting a limit and Stop Limit soon. Or you can read this article on www.investopedia.com if you cannot wait.

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How to use Binance cryptocurrency exchange video, opens in lightbox.

I do hope this quick walkthrough has help you get up to speed and quickly understand what you will be doing, once you have signup for all the cryptocurrency exchange accounts, I know your keen to get started and all, just take your time and it will all come together, double check the deposit (to) address, when you past the (code) in, when sending any cryptocurrencies to your exchange accounts (Sort of safe), software wallet (Safeish) and or hardware wallet (Most Safe).

 

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Resources:

Everything You Need to Know About the Mt. Gox exchange Bitcoin Debacle

I Hope this was helpful.

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