So you have your Ethereum or Bitcoin and you want to get into the smaller coins like Ripple (XRP) or Tron (TRX). The best exchange, in my opinion, is Binance because of the friendly user interface and selection of coins.
Go to Binance.com and create an account. As with any other site or exchange, you will need to verify your identity. Binance goes one step further by using the Google Authenticator App.
Once you are registered, verified, and logged in you will need to send some ETH or BTC to your Binance wallet. (Binance only uses a few different cryptos to purchase altcoins) Once again I recommend using Ethereum, only because it’s faster and cheaper to transfer.
Login to your Binance Account. In the top right-hand corner find the FUNDS tab.
Clicking the Deposits Withdrawals link will show you all of your Binance Wallets.
Find the Currency that you want to use to purchase your Alt coins. I use ETH whenever I want to purchase a new coin or token. Once you find the Currency that your going to deposit click the deposit tab on the right side. That will show you your Binance wallet address. (This process is similar for all exchanges) Click the button that will copy your address to your clipboard.
Use that address on Coinbase or GDAX when you withdraw your ETH or BTC.
Once you have confirmed everything and sent your Crypto to your Binance wallet go get a cup of coffee or use the bathroom. This part can take time depending what currency you are transferring. (CoinBase has seen slowdowns recently caused by an overwhelming amount of traffic.) BitCoin is a lot slower than Ethereum. This is why I recommend using ETH over BTC. On a good day, 5 or ten minutes is ideal. So refresh your Binance Wallet page every fifteen minutes until you see your balance appear.
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ON TO THE FUN:
Now that you have a currency to purchase an Alt Coin or Token, click Exchange in the top left of your screen.
For this tutorial, we will use the basic exchange. Click Basic.
At the top right of your screen, you will see the pairing chart.
Follow these steps.
For this tuttorial, I am showing you the easiest way to buy your Crypto. Clicking market allows you to purchase Crypto at the current market price on Binance.
Buying Alt Coins
USING bINANCE EXCHANGE
Once the Basic Exchange is open you need to get to the right market. I am going to use Etherum (ETH) to purchase Ripple (XRP).
Clicking ETH will bring up all the markets that use Ethereum to purchase Crypto. Type in the 3-4 letter symbol for the coin or token you want to buy. In this case, it’s XRP for Ripple. Click on the Pair and that will bring you to your market.
Simply type in the amount that you want to purchase. You can even click the percentage you want to buy. For example, clicking 100% will allow you to buy the max amount you can buy with your current ETH balance.
And that’s it. You can also sell your crypto doing the same process. Remember, if you have any questions or requests just use the form below to Drop Me A Line Anytime!
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