How to trade Bitcoin cryptocurrency for beginners! This tutorial shows how to trade BTC for altcoins on crypto exchanges.
Get BTC, ETH, LTC, or BCH here: https://www.coinbase.com/join/5926bddfea359f083d018d81
Sign up for Binance here: https://www.binance.com/?ref=10709016
Visit https://coinmarketcap.com/ for altcoin prices.
The first step is to buy Bitcoin.The easiest & most convenient site for you to use is Coinbase. Once you’ve registered, you’ll land on the Coinbase dashboard. From here you have to set up a Bitcoin vault before you can purchase Bitcoin by clicking on “Accounts,” then scroll down and click “New Account.” Click on “Vault” and choose “Bitcoin” as your currency, then naming it to whatever you want. I’ve already created a Bitcoin vault, so you won’t see it here as an option on my screen. The next step is to add a payment method. Click on “Buy/Sell” at the top, and under “Payment Method” click add a new account. This is where you can link up your credit card or online bank account. But before I continue any further, I have to emphasize that’s important to tighten the security on every single one of your cryptocurrency accounts by enabling two-factor authentication wherever possible, which you can do here. After you’ve set up a payment method, you can now instantly purchase Bitcoin, Ethereum, Litecoin, or Bitcoin Cash using a credit card. You can also transfer money over directly from your bank account--which costs 3 times less in fees--but it also takes several days for the Bitcoin to reflect on your account. Once you have the Bitcoin in your Coinbase account, open up a new tab & find out which exchange the coin you’re interested in is available on by going to coinmarketcap.com. Let’s take NEO for example. Once I’m on coinmarketcap, I’ll search for NEO, then click on the markets tab. You can see here all the exchanges NEO is traded on. Today, I’ll be showing you how to buy it on Binance. Once you’re in Binance, hover over “Funds” then click on “Balances.” This page gives you a running balance on all the coins you hold. As you can see in the top right corner, it also gives you an estimate of your portfolio’s worth in both Bitcoin and U.S. dollars. Now we want to transfer our Bitcoin over from Coinbase to Binance so we can use it to start purchasing NEO. On the “Balances” page, find Bitcoin and click on “Deposit.” This will show you your Bitcoin address that you’ll be sending your Bitcoin over to. Keep in mind that this address is STRICTLY for Bitcoin transfers only; sending any other currency aside from Bitcoin (like Ethereum or Litecoin) will result in your funds forever being lost, so be very careful of this! Copy your Binance Bitcoin address, go back to Coinbase, click on “Accounts,” then “Send.” Make sure you’re in the “Wallet Address” tab, then paste your Binance Bitcoin address into the “Recipient” field, enter the amount of Bitcoin you want to send, then click “Continue.” Transfers can take anywhere from a few minutes to a few hours to show up, so give it some time for your balance to appear on Binance. In the meantime, let me give you a quick rundown on Binance’s user interface. I’ll also show you more on another large trading platform called Bittrex, but that’ll have to wait till part 2. You’ll see on the main page that Binance has four different markets: BNB, Bitcoin, Ethereum, and USD Tether. Each of these means that you use that respective currency to trade for all the other coins. So clicking on “ETH Markets,” for example, gives you all the currencies you can trade Ether against. Since we just bought & transferred Bitcoin, we’ll be sticking to the Bitcoin markets. You’ll also see a “Favorites” section, where you have a list of your favorite trading pairs, like Icon to Bitcoin and Stellar Lumens to Ethereum for example. Going back to our NEO example, let’s click on NEO to Bitcoin. Doing so brings us to where we can buy NEO for Bitcoin using the “Basic” layout. On the upper left, you’ll see the sell orders and below that you’ll see the buy orders. This graph here shows the historic price fluctuations for NEO, where you can break down the time intervals where each candle represents anything from a 1-minute time frame up to a 1-week timeframe. For now, ignore the indicators that you see on my screen like volume and MACD, as I’ll be addressing them in part 2. In the upper right-hand side you’ll see a list of the available markets, and below that is NEO’s trade history, which shows all the buys & sells of NEO that have recently taken place. Clicking on “Yours” filters out just your own NEO buys & sells in the last 24 hours. But before I continue, let me explain to you the difference between limit & market orders. A limit order is when you place a limit as to the price you’re willing to buy or sell a coin for. So when I place a buy order for 1 NEO at 0.012350, it means that’s the highest price limit I’m willing to pay in Bitcoin for 1 NEO.