A cryptocurrency trade enables you to trade (do business) through digital currencies or cryptocurrencies.
More than five thousand currencies are operating in the decentralized market today. These include Bitcoin (BTC), Ethereum (ETH), Dogecoin (Doge), Solana (SOL), Litecoin, etc. Except for Bitcoin (BTC), all the crypto coins come under the umbrella of Altcoins.
The invention of altcoins (alternative coins) was intended to overcome the deficiencies of bitcoin and come up with the most competitive and realistic solutions to make transactions better and faster.
Everyone can use various trading platforms to exchange Altcoins with bitcoins or vice versa.
In this article, we will explore four valuable trading platforms that can be used to exchange altcoins – anytime, anywhere.
Coinbase is a safe and reputable crypto platform where more than thousands of customers are registered. This exchange platform is popular for trading cryptocurrencies, maintaining mining profiles, earning altcoins, and securing wallets. There are several payment methods available at coinbase such as Bank Account (ACH), Instant Cashouts to bank accounts, Debit Card, Wire Transfer, etc. The best part about its payment methods is that its verification does not consume additional time to fund accounts available on the platform, although it has two-factor verification for users. What else? Coinbase support is also available for its traders 24×7.
Binance is the most popular digital trading platform where trading can occur for more than 200 different blockchain currencies. It features multiple trading pairs against fiat, altcoins, and stable coins. It also has a competitive fee for deposits, speculating, trading, and withdrawals. Apart from trading, you can also earn interest on your altcoin using the Binance savings account on Binance. But the best thing about Binance is that you can use it on your smartphone and other portable devices.
Bybit is a derivatives exchange platform that offers the perfect experience for margin trading of digital currencies such as Bitcoin, Ethereum, EOS, and XRP trading pairs with up to 100-x advantage. The transaction at Bybit offers contracts of indefinite duration that follow the price of the cryptocurrency and it has launched a set of smart contracts that have high advantages. Bybit is a popular platform in the crypto world with over 100,000 active users and the number is constantly increasing.
eToro is a global financial broker offering financial trading and investment platforms for multiple markets, including crypto, ETFs, stocks, indices, commodities, and forex. It is suitable for beginners who want to invest in altcoins through a powerful and easy-to-use trading platform. eToro makes it easy to trade the best digital currencies and altcoins with leverage or by practicing trading a virtual wallet. Getting started with eToro is easy because its intuitive trading interface has real-time crypto market news and research available on the go. Moreover, its surprising trading features, risk management tools, and social network bring in productive crypto profiles from elsewhere.
How To Start Trading Altcoins?
To start trading altcoins, follow these steps:
- Create an account on a cryptocurrency trading platform.
- Confirm the registered email address and complete the ID verification.
- Buy altcoins directly with fiat currency to fill your wallet.
- Select a cryptocurrency trading pair to trade (e.g. ETH / USDT)
- Use the buy/sell button and dive into a decentralized market.
- Withdraw exchange profit to cash.
So have you decided which altcoin you are going to trade?