Since you bought your first Bitcoins, you’ve probably become interested in other cryptocurrencies since Bitcoin is not the only one.
To buy other cryptocurrencies, you need to do research.
There are more than 2000 cryptocurrencies, but just few them have real usage and has future potential.
Many websites give you the list of all cryptocurrencies available in the market.
We suggest you checking coinmarketcap.com
What is coinmarketcap.com?
It is a website that gives you all the necessary information about every cryptocurrency.
If you can’t find some cryptocurrency on coinmarketcap, it is probably some scam, and you should be extra careful.
The website gives you the link to all important information such as info about the project, development team, twitter account and many more.
It also gives you the list of all exchanges where the specific cryptocurrency can be bought on.
Later on, you will go through an entire trading/investing course that gives you all information in deep what to look for when you are looking for cryptocurrency to invest in.
Where to buy other cryptocurrencies?
Other cryptocurrencies, also known as altcoins, are available on different exchanges.
There are more than 100 cryptocurrency exchanges so when you enter the crypto world, it is not easy to find one that fits best for you.
There are many factors to look at.
Firstly, the most important factor is security.
You have to be sure that an exchange has a high level of protection so your funds won’t be in danger.
What you have to know is that an exchange is like a bank for cryptocurrencies.
It stores your coin in their wallets.
Once you deposit your coins to an exchange, the coins are not officially yours.
What you get is just a token that symbolizes your coins that are actually stored in wallets of an exchange.
That’s why you need to choose an exchange you can trust.
Things you have to know before opening your first account on an exchange
To buy coins you want, you need to deal with the risk of depositing your coins to the exchange.
Once you buy coins, if they have their wallet, online or offline, it is better to send them to that wallet since you hold private keys of that wallet.
You are not holding private keys of the coins that are on an exchange which is the main reason why exchanges should be used for buying/selling but not for storing your coins.
If the coin you want to buy does not have its own online/offline wallet, you do not have a choice, and you have to deal with the risk of holding coins on an exchange.
That’s why you have to be sure that you are choosing an exchange with a high level of security and that proven itself in the past.
When it comes to buying and selling on an exchange, you have to know that you will have to pay fees for every action you take, either you buy or sell.
That’s why it is suggested to find an exchange with reasonable fees, especially if you are going to buy and sell more frequently, paying high fees can sweep out a lot of your account balance.
There are only a handful of exchanges that offer a wider variety of coins.
A more diverse option of coins available is better as it gives you more choices of coins to purchase.
So, it is good to choose exchanges that offer a wider number of coins.
It is clear that finding an exchange is not that easy job and that’s why we did that for you.
We suggest you an exchange that is currently the biggest crypto exchange.
It was never hacked since its opening in March 2017.
It offers you a wide range of different cryptocurrencies.
You can either buy top cryptocurrencies by market cap but also smaller ones that are available on this exchange.
Its trading fees are pretty reasonable and because it was never hacked, you can even store some coins there if the coins don’t have their wallet.
The name of the exchange is Binance.
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Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.