Go Advanced💪 Let's diversify your portfolio ✨
🚨 Remember! 🚨
Investing in cryptocurrency does not guarentee a return and your capital is at risk!
Before you continue you need to be 100% sure that you’re comfortable investing your money that may return nothing.
Step 4: Transfer some Ethereum
This will then enable you to purchase some of these alt-coins.
Step 6: The available alt-coins
This is the tricky bit. You need to select the BTC/ETH button at the top and change it to ETH (Ethereum).
From that list you can then see the different alt-coins available for you to trade.
Before you make a choice, it’s a good idea to do some research and understand what those numbers are telling us.
This indicates the current pairing of coins for the row. In the picture above you see TRX/ETH as the first row, this refers to TRON and Ethereum.
This indicates the current price per coin/token, the first being relative to Ethereum (in our case, since ETH has been selected as the base currency) and the latter being $USD.
This indicates the total flucation of price over the past 24 hours, which +green being an increase, and -red being a decrease.
This indicates the total amount of base currency (in our case ETH) that has been exchanged for this current row. That’s both buying and selling.
Step 7: Picking a coin
Remember that the whole idea of diversifying with alt-coins is to reduce your exposure to the market (for example if you only invest in one currency and that crashes) and to increase your chances of one of the coins’ prices sky rocketing.
Before you make a decision, ensure that you have done adaquate research into the coins. First start by comparing their prices with Coinmarketcap and CryptoWatch, these will give you a greater idea of what the coin is doing.
Make sure you visit the coin’s website, if it looks good, and they name their team members (plus links to their profiles on LinkedIn and other professional sites), then it’s generally a good sign.
Furthermore have a look at the chatter on social media in places like reddit/r/cryptocurrency.
Once you’re ready to make a trade on Binance then continue to the next step.
Step 8: Making a trade
Once you’ve picked a coin, head to the bottom right of the screen and you will see the trade section. Simply enter how much of the coin you wish to purchase and hit buy!
Please remember that cryptocurrency prices can go up as well as down. Ensure you do research before hitting the buy button. Start off with small amounts and get comfortable before you go too fast.
🎉 Congratulations 🎉
You’re now an advanced cryptocurrency investor!
Be sure to keep checking the value of your invesement, and remember it can go down as well as up.