Cheapest way to buy all altcoins

Bitcoin Questions and AnswersCategory: General questionsCheapest way to buy all altcoins

M asked 7 months ago

Hi,
If I’d like to take $1000 and just buy $10 worth of the top 100 altcoins, what’s the best way to go about that in terms of ease and reduced fees and costs?

Thanks.

3 Answers
Steven Hay answered 7 months ago

Hi M,
 
There’s no shortcut method as far as I’m aware. You’d have to wait for some kind of index fund to become available. I believe that a big crypto-only exchange like Poloniex.com might have all or most of these alts in one place with decent liquidity, that should at least simplifiy your buying process and keep down costs. Do keep in mind that Poloniex has minimal withdrawal amounts however, $10 may fall below these limits in some cases. Cryptopia.co.nz is another exchange with a lot of alts which doesn’t have minimal withdrawals as far as I’m aware, they may have worse liquidity however.

Nad answered 7 months ago

Hi,
First of all, many exchanges are overwhelmed with new account sign ups, since thousands of people are trying to get into cryptos. These exchanges include Kraken, Bittrex.
Coinbase may open your account, but they have among the Highest fees and a 12-day delay between funds deposit and availability and you cannot buy altcoins, unless you want Litecoin. Sending Bitcoin from one account to another is expensive ($30-50 bitcoin network fee) ! Much lower fee to send Ethereum (~$0.50). You can buy many altcoins with ETH.
Try opening accounts with Gemini.com and Binance. You can buy Ethereum with $1000 on Gemini, and then send your ETH to Binance to buy altcoins. The best exchange for altcoins with LOW fees is Binance
Please use this link for the advice https://www.binance.com/?ref=15857623   My Referral ID: 15857623
FYI – Binance does open new accounts, just be persistent and you will get through, it’s worth it!
Good Luck

Nad answered 7 months ago

Hi M,
First of all, many exchanges are overwhelmed with new account sign ups since thousands of people are trying to get into cryptos. Exchanges include Kraken, Bittrex.
Coinbase may open your account, but they have among the Highest fees and a 12-day delay between funds deposit and availability and you cannot buy altcoins, unless you want Litecoin. Sending Bitcoin from one account to another is expensive ($30-50) ! Much cheaper to send Ethereum (~$0.50). You can buy many altcoins with ETH.
Try opening accounts with Gemini.com and Binance. You can buy Ethereum on Gemini, and then send your ETH to Binance to buy altcoins. The best exchange for altcoins with LOW fees is Binance.
Please use this my link for the advice https://www.binance.com/?ref=15857623
My Referral ID: 15857623
Thanks

Bitcoin Video Crash Course 

Join over 94,000 students and know all you need to know about Bitcoin. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.