Contest!! Explore altcoins with steem4bloggers

Cryptocurrencies have indeed taken over the financial system in our today's world that about 85% of human beings now depend solely on it as a means of income, a means of making payments and also as a means of saving for interest.

Which ever reasons it may be cryptocurrency has indeed taken over, which today I will be joining the Steem4bloggers community to explore the different Altcoins that we have on the blockchain, starting with the various contest tips provided below.

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What Are Altcoins Basically?

According to my research Altcoins are made up of a combination of two words which are alternative and coins which includes all cryptocurrencies and tokens that are not Bitcoin and belongs to a blockchain to which they were explicitly designed for.

We have thousands of Altcoins on the blockchain today many of which are a great choice of investment even more than the popular Bitcoin that has just fall massively today.

Besides Btc And Eth Write About Any Three Altcoins In Simple Words.

Besides Bitcoin and ethereum, like I'd made mention earlier that there are thousands of Altcoins on the blockchain some of which are;

• BNB token
• USDT
• Dodge coin

BNB Token

The BNB which is the binance coin was first issued by binance exchange which is the largest crypto bank which at first was base on the ethereum network but now it is it's own native and independent currency base on binance owns blockchain

USDT

The USDT which is the United States dollar token is a stable coin launch in 2014 by the tether company and it is being paired to the United States dollar in a sense that it's has the same price value.

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Doge Coin

The doge coin story is always very hilarious because it was created by a software engineer called Billy Markus and Jackson Palmer as a were of providing blockchain payments in form of a joke and mocking the wild speculations of cryptocurrencies as at that time.

How Altcoins Can Be Traded At Crypto Exchanges?(Write briefly about their buying and selling).

There are no special or hidden way of buying cryptocurrencies as they are also no other way of buying, selling and trading Altcoins on the crypto market.

So below are a simple step by step guide that you can used in buying Altcoins and they are;

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• First of all decide for yourself the kind of portfolio that suits you fine, for me I would prefer if you make use of binance or coin base
• Now in the second step surf around the blockchain searching for the most promising Altcoin
• Then when you found one you can easily exchange you fiat currency with the token you wish to buy through the various procedures introduced to you by the portfolio you make use of and they may include peer to peer, card transaction, bank transfer, express deposit, vouchers etc.
• The with just the view steps your fiat currency will be debited from your local bank and your wallet will be credited with the token you just purchased

Now the various steps that can be used in selling Altcoins are;

After you might have purchased the token then maybe the price had rise and you have a profit on top your investment and you do not want to loose it due to fall in price, then you have to follow the steps below;

• First of all if you are using binance app in the home screen click on the convert option

• After that they first token for you to select is they one you wish to exchange 💱 then after that you then clicked on the token or currency you wish to convert it to

• And once you are done with that click on preview conversation to initiate your transaction, and with just that few steps you have successfully sell your Altcoins holdings to any other token of your choice.

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Write 3 Tips To Follow Before Investing In Altcoins?

Now when it comes to investing in Altcoins there are certain things that should be considered and they are;

• First of all before you invest in Altcoins first of all check their previous price movement then compare it with the current price movement so that you will not jump from frying pan to fire

• The second one is always endeavor to study their chart extensively because some Altcoins might just decide to follow a particular market trend like they one that just happened last week which is breaking as we speak

• Do not always trade an Altcoin simply because it is trending today it might be a financial trap, though trading is a risky game but it is always wise to apply some sense to risk

My tips may not be as useful as was intended but I'm not disappointed because I'm not a professional but I certainly think that it would be of help to one person out of the hundreds.

^{Thanks for stopping by my post today I really appreciate it and I will like to invite some of my friends @f2i5, @m-fdo & @muzack to also join me in this wonderful contest}