Cryptocurrencies launched after Bitcoin’s launch are altcoins. Altcoins are alternative currencies to bitcoin, hence the name altcoins. If you are wondering how to buy altcoins and where to buy altcoins from then you’ve landed at the right place. In this guide we will guide you through altcoin types and exchanges you can buy them from.
Altcoins are designed to solve problems associated with Bitcoin. Bitcoin is technically a software that people run (Bitcoin core) and the technology underlying it referred to a “Blockchain”. Blockchain keeps track of who has Bitcoin. The coins launched after Bitcoin have qualities like :
- Fast transaction time
- Less transaction fee
- Improved verification method
- Easy mining process
Available altcoins in the crypto market
There are many altcoins to buy and trade in 2019. From popular ones like Ether, Ripple, Litecoin, to newly introduced ones like EOS, PAX, and USDT, there are many altcoins in circulation.
Where to buy altcoins from?
You can buy altcoins from a cryptocurrency exchange. You can buy altcoins with fiat currency or by exchanging cryptocurrency. If you want to buy altcoin with cash, you need to find a crypto exchange that accepts fiat currency. Alternatively, you can buy crypto coin like bitcoin from an exchange and trade them for altcoins.
How to buy altcoin: 4 steps
- Look for an exchange that accepts cash to trade coins like Coinbase or Kraken
- Exchange your bitcoin for altcoin on a cryptocurrency to a cryptocurrency exchange, Example Switchain
- Pick a trading pair for the altcoin you want to buy. Most exchanges offer pairs like Bitcoin/PAX, Ether/Litecoin.
- Buy the coin and store it in a crypto wallet.
Where to buy altcoins from? An altcoin exchange
We have compiled a list of altcoin exchanges on the basis of:
- Trading volume
- Coin availability
- Security measures
- User-friendly interface
5 popular altcoin exchanges
Here are 5 popular altcoin exchanges to buy altcoins from in 2019.
Coinbase is one of the most popular crypto exchanges. It was created in 2011. Coinbase boasts of the largest trading volume for bitcoin. It offers major altcoins like Bitcoin Cash, Litecoin, and Ethereum. Coinbase has a user-friendly interface, even beginners find it easy to use. The customer support is great too. Coinbase accepts bank account deposits as well as debit/credit card payments. The verification process is pretty straightforward too. Just upload a government ID with few personal details. Users can set up two-factor authentication for securing their deposits. Majority of the customer funds are stored in cold storage. This is done to avoid security breaches. However, there are a few drawbacks of Coinbase. It is limited to specific locations. The transaction fee on card payments is high too.
Gemini is a New-York based crypto exchange. It holds BitLicense. Gemini is regulated and takes security very seriously. Bank accounts accept deposits and withdrawals. Daily trading volume is high. You can make up to 30 bank accounts withdrawal in a month for free! Up to 10 Bitcoin and Ethereum withdrawals are also free. Gemini currently supports only Ethereum altcoin.
Kraken is a popular crypto exchange for European crypto traders. This exchange accepts bank account transfers from residents of Canada, Japan, USA, and EU. Facility for debit and credit card payment is not available yet. The trading fees are different for different cryptocurrencies. Kraken has a good collection of altcoins. You can buy Zcash and Ripple from Kraken. They have live chat support to help users.
Binance is a popular cryptocurrency exchange with approx 5 million user base. It offers multiple trading pair options for altcoins. You can pick the best altcoin to trade with the help of their price charts and live pricing features. Binance supports fast transactions and is very responsive. You do not need to provide ID verification, in fact, you can withdraw up to 2 bitcoins a day without verification. Mostly experienced traders prefer to use Binance. The platform is a little difficult to use for beginners.
You can find all major altcoin trading pairs on Switchain that Binance offers. We are a non-custodial crypto exchange. The buyer of the coin is the sole owner of the coin. Since 2012, we are helping crypto buyers get a great rate for crypto coins. Our strategic tie-ups and fixed rates ensure that you get the maximum profit. With a robust 24/7 support, our team would help you with transactions across any of our supported cryptocurrency exchanges.
What to consider while buying an altcoin?
There are some considerations that you must take while buying an altcoin. Do your research and look at the coin charts. Try to invest in the top or best performing altcoins. An altcoin with a strong team is less likely to fail. Check for prototype or MVP. The idea behind altcoin should be sensible and adaptable.
Switchain is an instant non custodial cryptocurrency exchange. Our user user-friendly platform makes trading crypto easy and fast. We work with different cryptocurrency trading partners to guarantee the best cryptocurrency rates to our clients.