Binance Link (altcoin exchange)
Get R10 in Bitcoin for free by signing up at Luno with this link:
Check out my Facebook page (ask questions, get news about Bitcoin etc.)
• www.bittrex.com - Altcoins
• www.binance.com - Altcoins
• https://www.bitmex.com/register/IGOY9r - Trade Bitcoin with up
to 100x leverage
• www.coinmarketcap.com - View all cryptocurrencies and their
• www.cryptowat.ch - A site for watching the price of Bitcoin across
different exchanges and against different currencies (USD, ZAR,
• www.tradingview.com - Charting software for technical analysis
Today I thought I would do a video showing an introduction to altcoins, which are alternative cryptocurrencies to Bitcoin. These cryptos, such as Ethereum, Ripple, Litecoin and Dash, offer different features to Bitcoin and have different applications and purposes.
The reason for the surge in popularity among altcoins, is that the Bitcoin network has become quite slow and bloated over recent years, as a result of an ongoing debate about which is the best way to "scale" Bitcoin - in other words, the network has slowed down as a result of mass adoption, and the technology has not advanced to meet the needs of the users yet.
There are, however, plenty of upgrades coming to Bitcoin in the near future, which will hopefully improve the cost and speed of transactions. This will take some time though.
As a result of this, people have started to look into other cryptocurrencies, which offer features such as quicker or even instant payments, anonymous payments etc. Each cryptocurrency has its own unique benefits and selling points.
Firstly, you will need to buy Bitcoin. If you want to know how to buy Bitcoin in South Africa, check out my video below, which explains how to buy Bitcoin on Luno.
Using an exchange like Bittrex or Binance, you can convert your Bitcoin into the altcoin of your choosing. You can also use the platform to trade between cryptocurrencies to earn more Bitcoin - however, this comes with risks, and you stand a chance to lose Bitcoin if the price of your altcoin doesn't go up as fast as Bitcoin.
The past few weeks, for example, Bitcoin outperformed almost every single altcoin, and caused their valuations in Bitcoin to go down, a lot.
Always be careful when trading, and do not risk any money that you cannot afford to lose. Also, always be sure to do your research before investing into any cryptocurrency, and be sure to get information from more than one source.
If you have any questions or any topics that you'd like me to make videos on, please be sure to leave a comment down below, and if you found this video helpful, please be sure to leave a like, thanks!