Starting with bitcoin and ethereum, any investor could begin to get involved in the cryptocurrency world of alternative coins. At first coins like TRON, Stellar, or Ripple could seem extremely intimidating, but with a little bit of research, you’ll find that it’s actually quite easy. One of the best ways to invest continues to be the exchange known as Binance. Binance has made it easy for individuals to simply deposit bitcoin or ethereum, where they can then put the money into other currencies that are offered on the platform. One of the first steps to getting into the alternative coin world is to transfer funds into Binance or your exchange of choice.
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The best way to do this is by first buying bitcoin on an app like Coinbase. This is pretty straightforward right from the app. Once the bitcoin is deposited into your account, you get an address on Binance, where you can then put the address into coinbase to have the bitcoin sent between the two services. The next step in the market is learning the difference between orders. The site defines the difference between limit orders and market orders as “limit orders let you get in or out at a specific price point, while market orders let you instantly buy or sell alt-coins at their current market rate.”
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Both of these methods have advantages and disadvantages to them. Once you decide what kind of order you want, you simply pick the coin based on research done beforehand, and put in the order. Given that the market is still quite new, it is still incredibly volatile. This is one of the main characteristics of a market that is still in its infant stage. The hopes are high that the ease of use can continue to present itself to all potential investors.