What are altcoins?
Altcoins, the other name of cryptocurrencies, having a great attraction for everyone right now. The crypto market has pumped massively since March 2020. While crypto prices are still increasing. Bitcoin has recently touched $65K which was under $5K in March 2020. So, you can well imagine how much profitable this market has become. If you are a newbie and don’t know how to trade cryptocurrencies, this article is for you. Just go through it, start crypto trading and make a lot of profit.
Can I make a profit from crypto coins?
So far, I would say yes. The cryptocurrency market has fetched an all-time high return on investment in one year. There is a crypto coin Link whose price a year back was just $0.0001 and now it is over $40. So, who invested just $100 on it a year ago has got over $40 million. This looks strange. But it has happened in reality in the world of cryptocurrency. You need to know that the crypto market is highly volatile. Though it can fetch you high profits yet it is risky as well.
Which are the best altcoins to trade?
Well, first of all, I would suggest you join a crypto community so you can learn all the basics of crypto. Moreover, you will get investment ideas as well as crypto trading signals that which coins you should trade. However, some of the popular altcoins are the following.
- Binance coin
- Ripple XRP
- Cardano (ADA)
It is not financial advice that you should only trade these coins. Always look at the market trends.
How can I trade crypto coins?
To trade crypto coins, you need to use a crypto exchange. There a lot of crypto exchanges you will find in the market. However, the best and largest crypto exchanges are Binance and Coinbase. Create your account in any of the exchanges and start trading.
However, before trading, you will have to go through a KYC process to verify your identity and other details. Then you will be able to buy any altcoins using a debit/credit card or requesting someone to send you.
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