Want to trade altcoins within a minute? BLOX!
Toon's expertise is Bitcoin. Joins the Telegraph's Crypto Update regularly.
Buying and selling altcoins is child's play with the new BLOX app. All you need is your phone. Start from just 1 euro, follow the prices live and trade the most popular altcoins. And all that at the speed of light.
Download the app and experience for yourself how easy it is!
Creating a new wallet for every coin you want to buy? Hell no! With BLOX you can trade all your favourite coins in a single app. It shows all the price developments in a single overview, so you don’t have to miss a thing.
Buying altcoins will only take four easy steps:
What are altcoins?
Altcoins, huh? It’s actually not that complicated: with altcoins we simply mean any other coin than bitcoin (BTC). And there are quite a few! At the moment there’s an estimated amount of 3,000 altcoins, a number that keeps increasing every day.
How to decide which altcoin to buy
Which altcoin you buy depends on your research and your preferences. You can ask the following questions: What problem does the coin aim to solve? Are there many developers working on the project? Does the website look reliable?
Take ether for example. The ether network Ethereum offers a platform for blockchain apps. It’s a completely different cryptocurrency than bitcoin, because it has a different function.
When to buy altcoins? Tip: during altcoin season
Sometimes the altcoin market is more like a fruit machine in the casino. Once in while you hit the jackpot! This period is often referred to as the ‘altcoin season’. Traders buy massive amounts of altcoins, creating great surges in the price.
This happened in 2017, when the whole crypto market was booming. But also in April-May of 2019, when altcoins were going to the moon in a short period of time.
In short, keep a close eye on the altcoin prices. You can do this very easily with the BLOX app, where you have an overview of all your coins and their price developments.
You can also check out crypto Twitter. Many crypto traders and investors express their opinion there on a daily basis. If you have trouble determining your own strategy, you can always adopt one of theirs. You can use their vision as inspiration, but don't blindly copy every trade someone else makes. No one can predict the future!
That’s why we also advise you not to invest more than you are willing to lose. So don’t put all your savings into altcoins, but rather invest an amount that’s left at the end of the month. This is not financial advice or investment advice, but a disclaimer to make sure you use your head, and don’t let emotions get the best of you!
Watch out for pump and dumps
Finally, we'd like to warn you. In the crypto world there is a phenomenon called ‘pump and dump’. That’s when a group of investors agrees (in private) to buy a certain altcoin. The price of that currency then rises enormously in a short period of time. The investors sell their coins and not much later the exchange rate drops back again.
Frequently Asked Questions
Buying altcoins is easier than ever with using the BLOX app! In a few seconds you own altcoins, no technical knowledge required. You can download the app for Android and Apple.
Selling altcoins is a breeze with the BLOX app! Do you see a selling opportunity? Exchange your altcoins for euros in no time and transfer your profit directly to your bank account. BLOX is available for both for Android and iOS.
That is very easy using the BLOX app. Buy, sell and manage your altcoins instantly. Switching between all kinds of different apps is now in the past! You can download BLOX for Android or iOS.
You decide what the best moment to buy or sell altcoins is. Just check the ether price in your BLOX app at any time of the day. Found the right opportunity? Grab it!
Disclaimer
Our provided information does not function as investment advice of any kind. Trading digital currencies bares a significant risk, and never provides a guaranteed profit. Always do your own research and carefully consider your investments. It may sound cliche, but we live by it: never invest more than you are able to lose!