As everyone knows, BTC was the first cryptocurrency in the world and his loneliness did not last long alone: one after another alternative coins began to appear and the inevitable question of how to buy altcoins had been raised. The overwhelming majority of BTC analogs did not reach its price mark, but this does not undermine their dignity. The purchase of other cryptocurrency types is actual for the investors from around the world. Below, you will find all the ways to purchase altcoins.
Table of content:
- The altcoins worth buying: all depends on your financial capacities
- Creating the wallet is the first thing before the purchase
- The most profitable and available methods to buy all sorts of crypto
Which altcoins are worth buying and why
Any cryptocurrency pretends to become an alternative to the traditional money, i.e. all who has it, can pay in shops, hotels, restaurants, purchase goods and order services. Users are attracted by the anonymity of transactions, which is guaranteed to some degree. But all this is a drop in the ocean in comparison with investments in altcoins. They are the main goal of someone who wants to profit in the future or perhaps get a stable passive income. Using the example of many cryptocoins, one can see how much their price has increased during 2017. Now the most promising currencies for investment are of the same interest. Among them are popular coins (Litecoin, Ethereum, Monero and Dash) and absolutely new ones.
What you need to do before you buy altcoins
Whichever way you use to buy altcoins, the wallet for cryptocurrency is the first and most important thing that should be at your disposal. Otherwise, where will you store the purchased coins? Many beginning investors have a question: if there are plans to buy several altcoins, do you really need a special wallet for each of them? Not at all! There are multicurrency services where you can keep several types of coins. Of course, there will be desktop or online versions. Hardware wallets have established themselves as the most reliable and secure storage facilities, but they are not suitable for a complete list of cryptocurrency.
Where and how to buy altcoins?
Purchase of the cryptocurrency on the exchange begins with the choice of the service itself. It must meet the highest requirements, have an impeccable reputation and offer favorable operating conditions. Also you need to check the availability of online support in continuous access and, most importantly, the number of currency pairs. Since you are going to purchase altcoins, there may be quite rare species. Registration on the exchange is not difficult, but many resources require identification data from you - scanned pages of the passport, a driving license, etc. Also, many services request an actual address, for which utility bills are suitable.So, you registered on the exchange. Now you need funds in your account to buy cryptocurrency. Not all exchanges offer the opportunity to replenish the account with the fiat money. For example, in the case of Binance, the exchange service is needed. There you will exchange dollars or any other currency for crypto. Bitcoin is a good idea. The coin is universal and you can buy any other digital assets for it. At Binance 100 altcoins for bitcoin are available. If the pair you select looks LTC / BTC, it means that you buy the first position for the second one. The functionality of exchanges is not difficult. Resources ensure that participants, both experts and newcomers, will work in comfort.
Is it possible to consider exchange services as an alternative to exchanges? Many tend to the fact that exchangers are much more convenient. First, they are not so rough to their customers. Registration requires only the login, an email and the wallet number, where funds will go. The exchangers function according to a simplified scheme without orders, order books and online private offices with a large number of settings. Unlike the exchange, the fee here will be higher, and the rate may not be the most profitable. It is not established on the basis of the participants’ behavior, but the owner of the resource. However, the exchanger will give an opportunity to buy bitcoins or popular altcoins for fiat money quickly and without to many questions. By the way, for purchase you can use WebMoney, QIWI, PayPal, etc.
Peer-to-peer platforms are gaining the popularity. Decentralization, lack of direct control and, accordingly, pressure on the participants, work without intermediaries - all this is just a part of the advantages of such services. In addition to the mutual credit and crowd investments, the platforms will help to find a seller of cryptocurrencies directly. How to buy altcoins on a P2P resource? You check the reputation of a person who agrees to a deal, because there is also a certain risk and scammers are showing considerable interest in such services. Long time registration, reviews, ratings are important. The owner of the altcoins will transfer funds to your virtual wallet, and you in turn will pay with him the fiat money from your bank card or in person, which is also possible.
Having only 20 USD with you, you can buy cryptocurrency. In the United States, the number of terminals for the purchase of virtual coins is rapidly growing. Europe, including the Eastern states, offers a similar opportunity only in large cities. For purchase, you will need some cash and a mobile gadget with the wallet-application installed. The terminal camera must copy the QR-code of your address in order to transfer the purchased digital funds there. Important information for those who want to learn how to buy altcoins anonymously: the ATM service does not really request your personal data; however the amount of anonymous transaction is strictly limited and, for large investors, is generally nominal. By the way terminals offer to buy bitcoin, but you already know what to do next in such cases.