Guide to buying altcoins on international exchanges

saor

Honorary Master
Joined
Feb 3, 2012
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18,694
#1
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

Honorary Master
Joined
Feb 3, 2012
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18,694
#2
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

Honorary Master
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Feb 3, 2012
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18,694
#3
[video=youtube;IDGDfwRVJAg]https://www.youtube.com/watch?v=IDGDfwRVJAg[/video]
 
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morkhans

A MyBroadband
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Jun 22, 2007
Messages
10,532
#4
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

Expert Member
Joined
Jul 1, 2007
Messages
1,194
#5
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

Honorary Master
Joined
Feb 3, 2012
Messages
18,694
#6
+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
Joined
Jul 20, 2010
Messages
2,283
#7
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

Expert Member
Joined
Nov 22, 2010
Messages
1,665
#11
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
 
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