Guide to buying altcoins on international exchanges

saor

Honorary Master
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Feb 3, 2012
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Many altcoins aren't available to buy locally with ZAR or you might just prefer the charts and layout of international exchanges.
Here's how to use them.

overview.png

Let's say we want to buy DGB (Digibyte).

First step is to go to coinmarketcap.com and search for DGB or digibyte. Under the MARKETS tab is a list of exchanges where DGB is trading, and also the trading pair available. The trading pair is simply the currency used to buy DGB, and will usually be Bitcoin or Ethererum.

markets.png

I'm going to pick Kucoin - I've got an account there and I like the charts. If you don't yet have accounts on any exchanges - it's better to just pick those with the most volume, in this case Bittrex. Once I've registered at Kucoin and logged in, I need to get Bitcoin or Ethereum into my Kucoin wallet so I can start buying DGB.

1.) Buy bitcoin or ethereum at one of the local exchanges (luno, ice3x etc.).
2.) Once done, go back to the international exchange and find the list of currencies and look for the DEPOSIT option. So if I want to buy DGB with Bitcoin, I find Bitcoin and choose DEPOSIT:

deposit.png

3.) Now I can send Bitcoin from my luno wallet to the address provided, or just scan the QR code with the luno app. Once the transaction has gone through, the exchange will let you see when the deposit has been received.

moneyin.png
 
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saor

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Sweet.
Time to buy DGB.

In Kucoin I find the Bitcoin / Digibyte trading pair and select it.

list.png

Once on the trading page it can seem a bit overwhelming at first, so I'll just do a quick explanation on how to buy at the going rate and do a more detailed explanation in a later post.
So just ignore the chart for now, and look at the BUY on the left.

lets buy.png

I want to buy 10 000 DGB.

1.) In the BUY section I select the current going rate per DBG (which here is 0.0000014 btc).
2.) Beneath that I choose the amount I want to buy (10 000 DGB).
3.) I can see the total cost is 0.014 btc.
4.) Click BUY and the trade will go through.

You now have 10 000 DGB in the exchange wallet.
What you do now is up to you - but it's a good idea to send these DGB to a wallet where you own the private keys. I am admittedly lazy much of the time and have quite a few coins / tokens kept on exchange wallets.
 
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saor

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[video=youtube;IDGDfwRVJAg]https://www.youtube.com/watch?v=IDGDfwRVJAg[/video]
 
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morkhans

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I'll give it some digital glue for now.

If someone is feeling energetic a FAQ of sorts with links to how-to threads would be nice ;)
 

Gory51

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I'll give it some digital glue for now.

If someone is feeling energetic a FAQ of sorts with links to how-to threads would be nice ;)
+1 to that. There's so much new info and data flying around me at the moment. I need all the help I can get :D
 

saor

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Feb 3, 2012
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+1 to that. There's so much new info and data flying around me at the moment. I need all the help I can get :D
Would videos of something like I posted above be useful or is it easy enough to follow with text & images?
 

Cicero

Expert Member
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Jul 20, 2010
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2,287
Thanks dude, I bought a bunch of Digibyte after reading your other thread and checkout their tech. Will just most likely forget about it, hold and see where it takes me.

Thanks for the guide.
 

dj2381

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Nov 22, 2010
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There is also an app called Delta, which I prefer, some of my lesser known coins weren't showing their true value on Blockfolio, a nice surprise :D
 

Kumar59

New Member
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Jul 11, 2019
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Hi,

Does anyone know of an exchange that will offer me charts priced in USD rather than South African Rands? I rather work in USD to buy digital coins. Luno doesn't offer this. Does Coinbase offer this feature?
 

phly

Expert Member
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Mar 13, 2013
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1,546
Hi,

Does anyone know of an exchange that will offer me charts priced in USD rather than South African Rands? I rather work in USD to buy digital coins. Luno doesn't offer this. Does Coinbase offer this feature?
Binance exchange will offer you charts in USD for the tokens you want to buy including their BTC equivalent. Coinbase will probably serve you a localized page of their website that displays the amounts in local currency which is ZAR.
 

tinjja

New Member
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Oct 6, 2019
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Hey. It seems to me that Altcoin is not so reliable. In my opinion, it is still better to buy bitcoins or Ethereum, although perhaps I am wrong. I have just recently become interested in crypto-trading (I study information on tenkofx south africa https://tenkofx.co.za/).
 
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Stonerjoy

Active Member
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Mar 5, 2019
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South African Exchanges are very bad investments. Btc for example on a good day available for +- R9000 more than what the price is. That goes for all coins listed in South Africa. Risk has new hights here :)
Its like we and Africa is used as a Hedge for America.
What else would explain the prices. Exchanges should be connected to others to add liquidity and offer Arbitration to take advantage of price differences resulting in providing fair price
These are some exchanges i use.
Binance , Bithump , Bittrex , Bitfinix , Kraken , Coinbase , Poloniex
 
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Stonerjoy

Active Member
Joined
Mar 5, 2019
Messages
46
Hi,

Does anyone know of an exchange that will offer me charts priced in USD rather than South African Rands? I rather work in USD to buy digital coins. Luno doesn't offer this. Does Coinbase offer this feature?
Try TradeView. You can just open a chart in a new tab .no need to even join
 
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