So you’ve determined to step into the world of cryptocurrency. You’ve bought your very first Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) on Coinbase (Many people will refer to thesis spil the Big Three), and now you have friends talking about XVG, NEO, OMG, WTC etc. Coins such spil thesis are what wij refer to spil altcoins. Unlike the big three most of thesis coins cannot be bought on Coinbase. They need to be bought on different exchanges. My individual beloved exchange is Binance. Binance is a secure exchange that many people use, I like that Binance fees are halved because they have their own currency Binance coin(BNB) which will when used to pay your transaction toverfee will cut your toverfee ter half! The guide below will explain just that.
To register for Binance use the listig below. My referral verbinding is there and I would appreciate it, if you used it.
After clicking the verbinding you will be taken to this pagina.
Click on the register button and pack out all your information. Click register button and check click on the confirmation e-mail sent to you.
THIS NEXT PART IS Significant TO PROTECTING YOUR FUNDS AND INVESTMENT.
Open your Google Authenticator app and kasstuk the crimson + button below then scan the QR code on your screen and inject the 2FA code given to you from the app. Congratulations you’re now protected!
Transferring overheen coins from Coinbase
Now that you have Binance set up, you need to transfer your funds from Coinbase (I will be using Ethereum spil an example).
- Loom ter to Coinbase and go to accounts spil seen below
Two. Click on Send. Now you will see this
Trio. Go to your Binance account and go to Funds then Deposits and Withdrawals (This is also how you check your coin balances te the future).
Four. Search for the coin you are attempting to deposit (Ethereum te our case) and click.
Five. Copy and paste the ETH Deposit Address into the Recipient opbergruimte ter Coinbase and inject how much ETH/USD you want to send and click continue… Your Ethereum is now en-route to the Binance exchange (Depending on network congestion, this could take a while, albeit usually with Ethereum transaction times are shorter).
Once the incoming Ethereum hits your Binance account, you are now ready to commence trading! Go to the Exchange tabulator and click Basic and you should see the screen below. Don’t worry about all those numbers and figures! They may seem very overheen whelming but for the purposes of this guide wij will be overlooking them.
Like FOREX trading Cryptocurrency is traded ter pairs. It will always be ETH/BTC, BTC/XVG, BTC/WTC, etc. Most coins are traded against BTC albeit some also support ETH and LTC.
For our example I will be using the coin XVG.