CryptoAltExchange’s Binance Alternative Cryptocurrency Exchange

Has it ever crossed your mind as to whether you could earn with altcoins? Read on to explore the profitability of alternative currency.

Alternative coins popularly known as altcoins are a group of digital assets created by the strength of the blockchain technology. While Bitcoin, the big brother of the altcoins, has made tremendous gains in the crypto market, altcoins also have their space in the crypto world. They do just as much for investors who are smart enough and committed to investing in them.

Why Invest In Alternative Coins?

Alternative currency is the newest form of cryptocurrency available in the market. Owing to its innovative system based on the Distributed Ledger Technology (DLT), it is one of the most secure currencies since the invention of the banknote. Contrary to Bitcoin, an altcoin can cost as little as a fraction of a cent. The biggest catch for altcoins is that they grow in value quite faster.

In just a couple of weeks, a lesser-known coin could gain tremendous value for its holders. Altcoin investors can hope for a quick multiplication of value within their accounts. If you compare that to a mutual fund that yields about 8-10% profit annually, or a stock portfolio that yields about 5-12% annually, an altcoin account can experience growth of hundreds of percent in just six months. Investors in altcoins simply need to understand how to select the right coin and how the cryptocurrency market works. Before you can get started with altcoins, you should have a bitcoin exchange.

How To Buy Alctoins—Introduction To Binance

When it comes to buying altcoins, Binance is a reliable partner. Binance is a bitcoin exchange, which implies that you can utilize their services to trade bitcoins for altcoins or the reverse. Like any other exchange, Binance has many things going for it, but it also has its share of challenges that may make investors consider other options.

Advantages Of Using Binance

• Access to more than 100 cryptocurrencies in various areas of development
• It has Multilanguage support for investors who are non English speakers
• The exchange offers high liquidity assets that move quickly without upsetting the price of the asset—ideal for short-term traders
• Two-factor authentication for Chinese and German investors
• Well-established team of developers

Other benefits to mention about Binance are the transaction and withdrawal fees, which are minimal, especially for investors who are already connected with the platform through their BNB token, can get up to 50% discount. In addition, members also enjoy several bounty and reward programs, which enable them to earn something on the side.

Drawbacks Of Using Binance

Even with a well-established team, Binance is still new to many users. Besides, some users have reported minor bugs especially in the Binance Android app. The team has since embarked in solving the problem. Occasionally, withdrawals can take longer than expected with some altcoins. However, Binance has no major problems compared to other exchanges that offer similar services. To save 50% of your trading fees, you can join Binance by registering on their website.