How to Buy Any Altcoin (Ripple, Cardano etc) : Step by Step Guide

buy any altcoin

There are many interesting Altcoin projects. The one question I get most of the time is that how to buy altcoins?

There are many ways to purchase altcoins. However, in this post I will go through few exchanges I trust and use for buying altcoins.

Note: Do not invest just because some random guy on youtube said so. Always do your research before investing in any cryptocurrency. Understand blockchain technology and do your research on what real-world problem does the crypto coin solve? Also check out its GitHub contributors, whitepaper, and reviews from blockchain experts.

How to Buy Any Altcoin

Many exchanges are there for Altcoin purchase. However, not all exchanges will have all the altcoins.

You should go with the ones which are trusted by the crypto community. My favorite altcoin exchange is binance.com.

Find the Altcoin Exchange

1. Go to coinmarketcap.com Here you will find all the details about the current altcoins in the market.

2. Search for the coin that you heard about or willing to buy. For example, I will search for Verge (XVG) . Click on the coin and it will take you to the coin information page as shown below. On the left side, you can find all the details about the coin website, GitHub repo, announcements.

buy altcoins

3. Now, If you click on the markets tab, you will find the list of exchanges where you can buy the specific altcoin. It will show the trade volume, current price, and the trade history.

buy altcoin from best exchange

4. Most of the altcoins can be bought from binance.com. It is my favorite exchange as of now. The buying process is very easy and it is accessible from all the countries.

How to Purchase Altcoins From Binance

You will have to do the Following.

  1. Create Binance account.
  2. Deposit Ethereum to Binance account.
  3. Use Ethereum to purchase other Altcoins.

Let do that one by one.

Create Binance Account:

Sign up for a binance account. If your purchase volume is less than  2 bitcoins, you don’t need to verify your identity. If it is more than 2 bitcoins, you should get your ID’s verified.

Deposit Ethereum To Binance:

To purchase any altcoin in binance, you should have Bitcoin or Ethereum in your binance account. I would suggest Ethereum because bitcoin transactions take longer times and the transaction fees are more.

You can purchase Ethereum using a credit card (Fiat Currency) from any of the following exchanges.

  1. Coinbase (US, Canada, Europe, UK, Australia and Singapore and I use it)
  2. Cex (Support All countries and I personally use this exchange)
  3. Koinex (India and I use it)
  4. Coinmama (Supports Most of the countries)

Transfer Ethereum to Binanace account. Go to Funds –> Deposit Withdrawals. Search for ETH and click the deposit option for ETH. You will see the Ethereum address for the deposit as shown below. For Ethereum to transfer to your binance account will take some time.

binace ethereum deposit

Buy Altcoin Using Ethereum:

Once Ethereum is deposited to your binance account, you can buy any altcoin listed in binance.

1. Go to Exchange –> Basic from the top left menu option. Select ETH from the right side panel as shown below.

buy altcoin in binance using ethereum

2. Use the search box to search for the Altcoin that you want to buy. For example, I will search for ADA (Cardano Coin) as shown below. Click on the Ada coin as highlighted below. You will see the buy option as highlighted.

Buy cardano ADA through binance

3. Now, you can specify the amount of coin that you want and click the buy button. If you want to use a certain percentage of your Ethereum to buy the Altcoin, you can use the percentage option in the buy option. So only for that particular percentage of Ethereum you hold, the coins will be bought.

4. Once purchased, you can view your coin balance in Funds –> Deposit Withdrawals dashboard.

(ADA) Cardano Coin Review: What Problem Does it Solve?

Cardano Coin Review

Amidst all the hype about Bitcoin, a lot other decentralized cryptocurrency have evolved which claim to work similarly. One such cryptocurrency is Cardano (ADA) which comes with quite promising value. According to coinmarketcap.com Cardano is the 5th best cryptocurrency at the time of writing this article. So let us discuss Cardano (ADA) currency and its salient features in brief.

Note: Cryptocurrencies worth is mostly speculated and highly volatile. Only invest the amount that you can afford to lose. And always do your own research before investing in any coin.

What is (ADA) Cardano cryptocurrency?

Cardano is a cryptocurrency which is quite similar in structure and function to many prominent cryptocurrencies such as Bitcoin or Ethereum. It is a decentralized currency that gives all its users to track and validate transactions on this platform rather than depending upon any centralized authority. However, Cardano is found too much more than mere cryptocurrency. It is said to be a platform which uses the technology to run daily financial needs by various individuals. It runs on blockchain technology hence the use of third-party for any transaction is often overruled.

(ADA) Cardano  Coin Review

It was launched in the year 2017 in 29th September. It is said that there are total 31,112,483,745 ADA coins available. It uses the third generation blockchain technology for its transaction. It uses a wallet named as Daedalus for its storage and transaction. Additionally, it uses the Proof of Stake system of mining which is comparatively more secure than the Proof of Work system used by Bitcoin. Charles Hoskinson who is one of the prominent members of Ethereum is an integral part of Cardano which is going to give a professional backbone to the newcomer.

Cardano Github Repo: https://github.com/input-output-hk/cardano-sl/

From the GitHub repo, you can see that continuous development is going on for Cardano with more than 40 contributors.

What is unique about Cardano?

Cardano is similar to any other cryptocurrency, but this particular cryptocurrency is being formed to solve various problems that the previous cryptocurrency have come across. It is more or less evolved versions of previous cryptocurrencies.

The use Proof of Stake system

ADA coin uses the Proof of Stake system in which a group of validators is set to choose authentic forgers based on their asset. That means you need to have a certain amount of coins in your wallet to forge. And the more the coins, the better are your chances to be a forger and earn the transaction fees. This secures your system against the 51% attack which would require a person to acquire 51% of the total coins to manipulate the transactions. Other than ADA, Ethereum uses this system for its miners. The algorithm that Cardano uses is OuroBoros which uses scientific methods for verification purpose.

Cardano (ADA) Roadmap?

They are aiming to build such a cryptocurrency which would solve all the problems of previous generations of cryptocurrencies. They are also trying to network all the cryptocurrency together to function as a single entity. They are making sure that inter-trading won’t be a problem in future among all the virtual currencies.

Is Cardano Worth Investing?

Cardano has come to the market this September and seemed to grow quite a lot since its introduction. Currently, 25,927.070,538 ADA seems to be circulating while many remain to be mined. The current value of one ADA is $0.391708, and since its announcement, its value has grown from $0 to $0.40 in a matter of 4 months shows that it is going through a steady rise. Hence we can conclude that this coin is worth investing. But, Investing in any cryptocurrency requires prior guidance. Hence it is recommended to understand this cryptocurrency before investing in it.

How To Buy Cardano (ADA) Coin?

The best way to buy Cardano coin is through Binance exchange. It is one of the trusted exchange for buying Altcoins.
In Binance, you can buy ADA coin using Bitcoin or Ethereum.

Cardano Private Wallet: DAEDALUS

You can store your Cardano coins locally on your desktop using Daedalus wallet. You can find the official tutorial for using Daedalus from here. It is always better to store your cryptocurrencies in private wallets rather than hosted exchange wallets.

 

List of Best Altcoins Based on Project and Popularity

Top Best Altcoins

Before we begin, for the sake of some of our viewers here who might be perplexed about the term, altcoin and other akin terms, let’s briefly redefine this concept before discussing the best altcoins.

What is Altcoin?

Basically, altcoin is a designate for ‘alternative to Bitcoin‘ which is also a form of digital cryptocurrency (just like the Bitcoin). It is a quite different from the radical concepts portrayed by that of a Bitcoin because it follows a peculiar standard paradigm or actually initiates and develops a typical concept in cryptocurrency. However, most prevalent altcoins tend to undergo similar fundamental building blocks like the Bitcoin itself. This is merely due to a way of attaining the simple approach rendered free by the open source platform on Bitcoin.

Also, altcoins are said to depict a healthy competition with Bitcoin because, in one way or the other, they intend to improve, enhance or replace various components offered by Bitcoin. Nonetheless, many altcoin critics feel that to an extent, altcoins are somewhat irrelevant to cryptocurrency, especially since Bitcoins facilitate optimal services in this field already.

How to Decide the Best Altcoins to suit Preference

For starters, you need to be much acquainted based on the altcoin’s project protocols and predominance (if necessary). You will also have to consider its concept, paradigms and potential so as to suit, say, your investment processes. You can start by reviewing the Coin Market Cap since it depicts the price, circulating supply and relative volume- the Market Cap is the product of the circulating supply (the best estimate of the number of coins involved in circulation in the market) and the price. The volume, however, is the amount of dollar based on a crypto traded during a specific period. Try to also look at the relative features that the altcoin offers particularly- what solution does it covey? What significant value does it add? Or what are the rate of validity and the credentials deemed by the team behind the scheme?

Lastly, I infer you observe the charts and search for critical comments about the altcoin just to be certain its system goes with what you’re looking for.

In addition, below is an evaluated content list of some top and ideal altcoins today!

Top 10 Best Altcoins You Can Find In Market

I don’t think we can all agree on a classification of altcoins in the form of hierarchy because we consider preferences and tastes, so we’d be looking at these from a holistic perspective

#1 Ethereum

The Ethereum platform offers a methodology that chiefly decentralizes applications on its blockchain. These applications tend to function precisely as facilitated in order to have zero traces of third party interference, sources of dilatory activities or counterfeit of any kind. With the highly developed blockchain(for conveying values and property ownership), the smart wallet enables one to use the ether and related crypto-assets with full security and engage in deploying processes, as well as smart contracts.

#2 Litecoin

Litecoin is a decentralized cryptocurrency that uses a peer-to-peer infrastructure and open-source blockchain protocol to enhance protected transaction processes on its platform. Its key improvement (when compared to bitcoin) is its short time interval when generating blocks. Consequently, it offers a greater volume of transactions due to its rapid block generation.

#3 Zcash

This is an altcoin cryptocurrency that is peculiar to its high protection services that include privacy of transactions even without cognition on cryptography. The payments involved are published on the platform’s blockchain. However, the core processes of the transaction are kept confidential all through- this is a system used to depict its transparency in subsequent transactions.

#4 Ripple

It is a cryptocurrency (conspicuously similar to Bitcoin) that enables an aspect of digital currency as well as open payment network within which a particular currency can be transferred. It mainly specializes in developing its approach to decentralized digital currency and optimizing monetary transaction flow. It also offers secure activities such as prevention of counterfeit coins and intervention of third-party software.

#5 Siacoin

The Siacoin (aka Sia) is a prominent altcoin that tends to raise and enhance the blockchain technology so as to employ flexible distribution of networks in reaching consensus with optimal security. It ensures that there is no form of interference within the platform by third-party software with the aid of its cryptographically protected contracts. It also facilitates faster and cheaper cloud storage platform as its key function.

#6 Stratis

This is a formidable and exclusively flexible altcoin cryptocurrency platform for blockchain development, specifically created for financial services and relative transaction processes for various organizations that want to carry out and develop certain activities on the blockchain. Its services make it easy for developing blockchain applications and speeds up the development lifecycle for projects tested on the blockchain. All these processes for testing, deploying or developing are performed with free security guarantee as well.

#7 WINGS

It is basically, a decentralized crypto-platform used to create, join or manage certain projects. WINGS offers the capability to share rewards, that is, the token holders can forecast on various projects and also be eligible to obtain tokens offered by future campaigns. TransparencyDAO ownership is fully protected by smart contracts and blockchain technologies. Thus, the WINGS platform’s open source facility is based on secured public ledgers around.

#8 Ardor

This is a blockchain service platform that employs one to maximize and utilize the blockchain technology with the aid of childblockchains. Slightly different from bitcoin, all coins are said to come from NXT (a cryptocurrency with program code) initially. It seems to have also added a feature recently which is known as, Testnet, and is available to all individuals or organizations. The key is to enable users to test all kinds of features from Ardor’s platform so that its development team can work and improve its crypto-database to be more efficient to the users.

#9 Golem

Golem is another powerful altcoin cryptocurrency that has become significantly valuable as a digital currency platform and relative popularity. It genuinely intends to develop its global network and extend its facility as an open sourced platform. Also, it renders intensive cryptography projects to maximize its efficiency.

#10 Gnosis

The last, but maybe not the least is this altcoin, Gnosis, a decentralized cryptocurrency that is actually based on the Ethereum Protocol which mainly focuses primarily on forecast trade and marketing. The team behind the platform have modified an online crypto-platform to allow the provision of steady information based on the results of events within the network- the better the exchange of information, the greater the chances of boosting business. This is also the apt cryptocurrency mostly used by individuals who engage in trading related to virtual securities.

The best altcoins list ends here. We will udpate this list based on new project, the problem it solves and the adoption rate. Subscribe to our email list to get the latest updates.