Altcoins are simply other coins launched after seeing the success of Bitcoin

Let me quickly say here that there are 3major ways to making money from cryto

1. Day Trading: This simply means trading positions based on price volatility.
(Not advisable for newbies)

2. Investing (Long term holds) Imaging buying BNB now at $500 and holding it for the next 3 to 5 years when the price would have risen to 2000 or $3000 .
PS. Buy BNB now, it is still cheap, price is going to the moon

3. The third way is ... Investing ( Short term, buying low and selling high within few weeks, months). Imagine buying bitcoin last year December at 28, 000 and selling at 45,000 this year. Good right?

There are other ways like staking, farming, mining etc but the above are the most common ways.

Feel free to add yours

Lets continue with buying bitcoin or other coins

Before the cbn ban we could easily buy Bitcoin and other coins using our debit cards (Atm) by converting our naira (fiat) to USDT (stable coin) and then buying bit coin or altcoins.

With the ban this became imposible.
But as usuall
"WE MOVE"

We now use Peer to peer method P2P.

This was made possible by the platform, simply connecting buyers to sellers.

First step is to buy USDT (stable coin, equivalent to US DOLLAR )

To do this click on trade
Click on P2P
Make sure you on the buy tab (green)
You will see a list of people who are willing to sell
With their prices and corresponding quantity

When choosing who to deal with lookout for someone with a high orders and completion 95% and above

Once you have chosen the person
Click on buy
Put in the Mount you want to buy in naira.

Go ahead..

Click on buy usdt.

How to buy coins

You will see a tiny notification saying order has been placed.

Immediately the Bank details of the person you are transacting with shows up

This includes
Account Name
Account number
Bank name
Phone Number

You can call or chat with the person to ensure he/she is online and ready to transact before making payment.

Most times some of them will chat you up immediately to show that they are online and ready for business.

Send payment in naira to the person's account.

WARNING.

Do not include anything related to crypto currency in the payment description

Once you have made the payment
Click on Transfered, Next

Wait for the person to receive payment and release your USDT to you (this should not take more than a few minutes)

Please note that once you place an order payment must be made within 15minutes time frame and you must also click on the transfered next to proceed with the transaction after payment within thatsame 15 minutes time frame.

Incase you want to change your mind.
Change it before making payment.
Once you have made payment make sure you click on transferred, next.
If you dont you loose your money.

If you have clicked on transfered you have done your part.
The seller will release the coin, if he doesn't binace will.

Trust the process.
It works

Congrats you now have USDT in your account

With this you can buy any other coin of your choice

But first we have to move our USDT from P2P wallet to our spot wallet
To do this click on wallet
Click on transfer
Select USDT
Select Max (meaning you are transfering all the USDT you just bought )
Click on transfer.

It has now been transferred to your spot wallet where you can use it to buy any crypto

HOW TO AVOID SCAMS


Now that you know about crypto here are something you should avoid so you don't end up sheding premium tears.


1. Let your money work for you....
Invest N1 million in 2months time we will give you N5 million. We we use your money to trade for you.
My brother-My sister run for your dear life (RFDL)

2. We are giving away free Bitcoin just send us any amount we we double it and send it back to you within 2 minutes.
My brother/ My sister do what..….??
Run for your dear life (RFDL)

3. This one is obvious;
Keep your security keys and codes safe just incase your phone is stolen & dont share it with anyone.
Some people actually forget their password and backup codes.
OYO for you!

SOL is currently yielding a lot of profit

HOW TO SELL YOUR CRYPTO


Now that you have known how to buy crypto currency.
Let's look at how to sell.

Nice one op

PerfectMatchNG:
Nice one op

Thanks

There are two major reasons why people sell their crypto.

1 . They want to take profit; meaning they bought at a lower price and since the price of their coin is now high they want to sell.

2. They need fiat (NGN in their bank account )

For the first scenario (Take profit)
Here is how you do it
You simply go to trade
Click on the coin/USDT that you want to sell e.g BTC/USDT

Click on the sell tab
Input the amount of the coin you want to sell

You can sell at the market price or use the limit option to choose your own price at which you like to sell..

Click on sell..

If you used the market price your sell order will be filled immediately and your coin converted to USDT

But

If you chose the limit option your order will only be executed when it gets to the price you specified in your limit.

You can sell 25% 50% 75% 100% or manually input the amount you want to sell

If you are lost or have any questions go ahead and ask
I will reply.

For the second scenario. (Need Naira in bank account)
Now that you have your coin converted back to usdt to have fiat in your NGN BAnk account here is how yo gk about it.

Click on trade
Click on P2P
Click on sell
Choose the currency you want to receive if ot is not already chosen (This should be naira of course )

Just like we did when we were buying USDT initially, We are simply going to repeating the process but this time around we will be receiving the payment

So go ahead choose someone with a with a high completion rate

Click on sell

Set a payment method
Select bank tansfer
Fill in your account details
Click confirm
Click on sell
Someone will see your order and send the money to you
Once you receive the alert you
Click approved

thanks for these, when i am set will be dropping my technical analysis here

Now that you have known how to buy and how to sell

There are sites every crypto lover/enthusiast visits on a regular.

1. coinmarketcap. com
2. coingekco. com

These sites help you know the current price of every coin, help you carry out basic analysis such as the circulating supply, trading volume, etc.

All of these factors help you determine the potential of a coin.

There are other tools and sites but we will be sticking to coin market cap

Get familiar with coin market cap

Always lookout for the trading volume, circulating supply, total supply before buying into any coin.

You can spot a solid project using all of these variables.

I appreciate your efforts Op. Carry on, sir.

Theinfomayniac:
Now that you have know how to buy and how to sell

There are sites every crypto lover/ ethusiast visits on a regular..

1. coinmarketcap . com
2 coingekco . com

This sites helps you know the current price of every coin, helps you carry out basic analysis such as the circulating supply, trading volume etc..

All of this factors help you determine the potential of a coin.

There are others tools and sites but we will be sticking to coin market cap

Get familiar with coin market cap

Always lookout for the trading volume, Circulating supply, total supply before buying into any coin.

You can spot solid project using all of this variables.

Pls expantiate more, using figures. How do we decide a coin with potentials using d market cap, circulating supply, volume, max supply etc. Somebody posted abt xec hitting $1 but another countered citing d circulating supply is excess. Pls in layman's terms, kindly break it down for us to learn so that many of us newbies don't end up chasing shadows. Waiting in anticipation

Do we just buy coins and leave it there till we decides to sell and what is the least capital needed for a beginner and is there extra charges incurred during buying and selling phrases.

Mikocake:
I appreciate your efforts Op. Carry on, sir.

Thanks Man

Mumben:

Pls expantiate more, using figures. How do we decide a coin with potentials using d market cap, circulating supply, volume, max supply etc. Somebody posted abt xec hitting $1 but another countered citing d circulating supply is excess. Pls in layman's terms, kindly break it down for us to learn so that many of us newbies don't end up chasing shadows. Waiting in anticipation

I will try to break it down as simple as i can.

Using Market Cap AKA Current value of a coin

Market cap = price per asset × circulating supply.

When the market cap of a coin is high as compared to Bitcoin or any othercoin with good fundamentals like BNB but the price per asset is low and the corresponding circulating supply is high it becomes difficult for the price per asset to rise.

For example
Comparing BNB and DOGE

Market cap of BNB= $80.10B
Market Cap of DOGE= $36.66B
We can see that the gap is huge not sooo huge

Price per asset BNB= $476.41
Price per asset DOGE= $0.2797
Unlike the marketcap their prices are miles apart. Too much gap.

This is because of the Available supply

Available supply BNB= 168,137,036
Available supply DOGE= 131,073,601,161

Scarcity.
The available supply of DOGE is so large that it will continue to dilute the price per asset.

Note that available supply = circulating supply.

I hope this helps.

Check my signature for more details on how to spot crypto gems