How To Buy Altcoins

How To Buy Altcoins

Crypto 101
June 1, 2018 by matthewrobinson
647
 How to transfer currencies to Binance and how to buy Altcoins: In order to buy Altcoins, we suggest using Binance, which means you will have to transfer your existing cryptocurrencies to Binance. We transfer Litecoin in our example because it is the fastest. We suggest using Ethereum or Litecoin to transfer. At the current
how to buy alt coins


How to transfer currencies to Binance and how to buy Altcoins:

In order to buy Altcoins, we suggest using Binance, which means you will have to transfer your existing cryptocurrencies to Binance.

We transfer Litecoin in our example because it is the fastest. We suggest using Ethereum or Litecoin to transfer. At the current market price, Ethereum is cheaper to transfer into Altcoins if you are trading more than $2,000. The transfer fee is higher with Ethereum but if you transfer Ethereum you will save a trading fee later in Binance. Bitcoin transfers are slower and more expensive.

1.Select the coin you wish to transfer. In this example, we use Litecoin. (0:23)

gdax photo to buy altcoins

2. Press the withdraw button (0:50)

gdax photo for transferring coins to buy altcoins

3. Click the LTC address tab in the Withdraw Funds Prompt (1:00)

withdraw funds to learn how to buy altcoins4. Go to your Binance Funds/Balance page (1:36)

receiving coins in binance to buy altcoins

5. Scroll down to LTC and press Deposit to show your LTC Deposit Address (1:40)

binance wallets showing balances

6. Copy your LTC address (1:45)

litecoin address

7.Paste your address in the Destination box back in the GDAX Withdraw Funds prompt (1:53)

withrdawing cryptocurrencies

8. Enter the amount you want to transfer (2:04)

9. Press the Get Code button to receive a two factor code and enter your code (2:09)

10. Press Withdraw Funds (2:20)

11. Wait 5 to 30 minutes and your funds will be transferred! (2:27)

12. Use your LTC to buy Bitcoin. Go to the basic exchange in Binance (2:53)

13. Go to the BTC exchange and go to the LTC/BTC pair (3:01)

14. Use a market order (3:13)

15. Sell 100% of your LTC for bitcoin (3:20)

16. Search for the Altcoin you want to buy (3:35)

17. Enter the desired amount of the Altcoin you want to buy at the market price. In this case, we used 100% of our Bitcoin to buy Waltonchain (3:42)

18. Congratulations you now have Altcoins!