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Learn all about trading Altcoins with our definitive guide to Altcoin trading.
What is Altcoin Trading?
Altcoin trading is the act of trading Bitcoin or USD for Altcoins with the goal of profiting.
What are Altcoins?
Altcoins are defined as alternative cryptocurrencies to Bitcoin. They can have their own separate blockchain, or be on top of other blockchains such as Ethereum. Altcoins provide cryptocurrency traders a unique opportunity to capitalise on the market. Altcoins have been known to rise several 1000% in some cases, making millionaires out of regular, new traders. We trade Altcoins frequently in Blockduo trading room and are constantly on the lookout for the next Altcoin gem!
Where to trade altcoins?
There is a large selection of places for Altcoin trading, these are called ‘exchanges’. Some exchanges let you trade directly with fiat (normal money) and others only let you trade crypto to crypto. You can view a full list of our trusted exchanges here.
How to trade Altcoins
Altcoin trading is fairly simple once you get the hang of how things work. See the simple step-by-step guide below.
Step 1: Open a Coinbase account
Step 2: Buy Bitcoin or Ethereum with credit/debit card
Step 3: Open a free account with an Altcoin exchange
Step 4: Send the Bitcoin or Ethereum you bought on Coinbase to the Altcoin exchange account you set up
Step 5: Start trading! You’re good to go, you can now trade Altcoins safely and securely
That’s the easy part, the trick is knowing which Altcoins to trade. This is where we come in. Our 24/7 LIVE trading room provides Altcoin trading signals. Start your 7-day FREE trial today.
How difficult is trading Altcoins?
Altcoin trading isn’t difficult at all, you can pick it up within weeks with the help of a trading signals room.
How profitable is Altcoin Trading?
Altcoin trading can be extremely profitable, so long as you know what you are doing. Without the help of experienced traders, people lose a substantial amount of funds due to a lack of education, risk management and generally sloppy trading.