How to start trading in ALT coins – Simply Explained.

Posted on July 17, 2018 at 12:39 PM

How to start trading in ALT coins - Simply Explained.

Cryptocurrencies have been part of discussions all around whether it’s parties, office or on national TV programs.

An important question to answer is Why Cryptocurrencies are getting so much attention these days?

The answer to this is, Cryptocurrencies have generated returns in just 1 or 2 months that investors may not have expected in 1 year. Top Cryptocurrencies in terms of market capitalization from the past few months have given some interesting facts and figures. From October to December Cardano one of the top cryptocurrency whose price on 1st October was 0.024969 and price on 15th December was 0.213467 has given a percentage change of 755%. Another example is of IOTA whose price as on 1st October was 0.610183 and price on 15th December was 3.9 and has given percentage change of 539%. Although Bitcoin is considered to get the highest attention across the world, there are other currencies like Cardano and IOTA that are actually giving a higher return on investment.

After hearing such high returns, you may also think to invest in Cryptocurrencies, but how? In this blog, I am going to explain how to buy Altcoin using Indian Rupee?

– The first step is to make an account on Indian Exchanges like Zebpay, Koinex, Coinome. Proper verification of bank details, Aadhar card, and Pan card, you can easily transfer some amount from your bank that you want to trade through any of the Indian Exchanges.

– Next, If you are going with Zebpay, It offers an instant transfer of funds to your account within 2 hours, then you can easily buy bitcoin at present rate on the exchange. If you are going with Coinome, it allows users to trade round the clock without any limits on Business Hours or Holidays. It offers Litecoin, Bitcoin and Bitcoin Cash. If you are going with Koinex, it offers a complete exchange supporting multiple cryptocurrencies/tokens on a single platform. It offers Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin and other cryptocurrencies at best price.

You need to make three decisions now. First which currency to choose and then which Indian and Foreign currency to choose.  You have to make this decision considering that currency you choose should have the minimum difference between Indian exchange rate and foreign exchange rate. At the same time, please factor in exchange fee as well. Another most important point while choosing cryptocurrency is, do look for transaction time and speed as it is best for Ripple and worst for Bitcoin.

Once you have got coins on foreign exchange you can exchange those for any other altcoins as per your choice.

This is all about how to buy an altcoin using Indian Rupee, In the next blog, I am going to explain how to sell altcoins and get back your Indian Rupee.

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