Be An Altcoin Trader
Photo by David McBee from Pexels

After the Bitcoin news went mainstream, I had family members wanted to buy altcoins (specifically, XRP thanks to the news). After hours of repeating myself, I was able to educate my family on altcoins for last Christmas.

Here is a simplified method of buying altcoins on Binance.

1. Start With Coinbase

Use the Coinbase app to buy some Ethereum (ETH) or Bitcoin (BTC).

Coinbase App to Buy NEO, Buy POE, Buy Nano, and to Buy WTC

2. Sign Up for GDAX [now Coinbase Pro]

Go to GDAX and sign in using your Coinbase information.
You’ll have to verify if this is your first time using GDAX.

In GDAX, deposit BTC or ETH from your Coinbase account. You can do this by selecting BTC/USD or ETH/USD from the drop-down, and then select DEPOSIT.

GDAX ETH or BTC
GDAX Deposit Bitcoin or Withdraw Bitcoin

At the DEPOSIT FUNDS screen, select the COINBASE ACCOUNT tab. Enter the source (ETH wallet or BTC wallet) and then enter the amount.

Select the blue ‘Deposit funds’ button to continue.

GDAX Deposits

This process is fast! After you have the BTC or ETH in your GDAX account, you can send it to Binance.

3. Register at Binance

Go to Binance and REGISTER for a new account.
You’ll need to verify if you plan to do big orders.

Once in your new Binance account, select FUNDS and then DEPOSITS.Binance Funds What is NEO Blockchain

Select Bitcoin or Ethereum (whatever you have on GDAX now) and then you’ll see the Bitcoin Deposit Address or Ethereum Deposit Address. Copy the address and go back to GDAX.

Bitcoin and Ethereum Deposit Address

4. Back at GDAX [now Coinbase Pro]

On GDAX, select BTC/USD or ETH/USD and select WITHDRAW.

GDAX ETH or BTC

GDAX Deposit Bitcoin or Withdraw Bitcoin

At the WITHDRAW FUNDS screen, click the BTC Address or ETH Address tab. Paste your copied Binance Bitcoin Deposit Address Binance Ethereum Deposit Address. You can only use the Bitcoin address for BTC, you can only use the Ethereum address for ETH. Enter the amount you want to send. Click on the blue ‘Get Code’ button to get your verification code emailed to you.

Select the blue ‘Withdraw funds’ button to continue.

GDAX Withdraw

5. Deposit Notification

Wait on an email from Binance confirming the deposit. This can take up to 30 minutes.

Binance Deposit Success

6. Buy Altcoins

Now you can buy altcoins after you have thoroughly researched the altcoin. Binance currently has some of the popular altcoins to buy such as Bitcoin, Litecoin, Ethereum, Ripple, Stellar Lumens, Bitcoin Cash, Ethereum Classic, and many more. Binance adds new altcoins weekly and removes any altcoins causing trouble for the community.

7. Conclusion

You are officially an altcoin trader. You can either keep your altcoins on Binance or you can get a desktop wallet, mobile wallet, or hardware wallet to transfer your altcoins, for added security. Some altcoins do not have wallet yet so do your research if you want to be a successful altcoin trader.

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