LiteCoin, PrimeCoin, FreiCoin and on and on. You want them, but you cant figure out quite how to do it though. It really is a big massive headache to try to figure this stuff out. You could be chasing your tails, or buying books, or calling friends and not getting very far. We worked it out. Its not that bad. Here is how to do it...
#1 - register a new account here https://btc-e.com/
#2 - once logged in to BTC-e, click onto "finances" at top right. here you will see a list of all the currencies and your balances at zero
#3 - under the first currency, which is "BTC", click the deposit button to the right. this gives you a BTC address to deposit funds to
#4 - now go to coinbase.com - this is our 8th article today about bitcoins you should have a coinbase.com account set up by now :)
#5 - go to send/request over on the left side and then click the "send money" button on the right
#6 - input the BTC address from step #3 that you got from the BTCe website and input how much BTC (or USD) you want to send (transfer).
#7 - now go back into BTCe website and you'll wait up to 15 minutes for your BTC from coinbase to appear in BTCe
#8 - lets say you have $1,000 USD which converts to about 1.5 BTC (11/22/13). Now determine which ALT coins you want. say you want LiteCoin, PeerCoin, NameCoin, FeatherCoin & PrimeCoin. that is 5 different currencies. So you will convert approx 0.3 BTC into whatever you want (one fifth of 1.5).
(if you only want to do 3 currencies, then divide 1.5 by 3 which gives you about 0.5 bitcoins to invest into each of the 3. I hope this all makes some sense)
#9 - now make the trades happen. on the BTCe site click onto "Trade" near the top left.
#10 - pick your currency pair. lets say you're looking for LTC currency and BTC to trade. for LiteCoin you would click onto the LTC/BTC button.
#11 - there are two columns just under the bar chart. the BUY LTC area or the SELL LTC area. you want to BUY LTC so stay on the left hand side under the chart. In the box that says "Amount LTC" change the number so that the Total BTC matches your predetermined allotment. In the example above we picked 5 currencies which gave us about 0.3 BTC to spend on each currency. So in the "Amount LTC" to buy you want to put something around 23 which would use up around 0.3 BTC in your BTCe wallet. the goal is to get the Total BTC to match your allotments for the 5 selected coins.
GOT IT ALL??? I HOPE IT MAKES SENSE. If not just ask questions and I will help out.
Now repeat for the remaining currencies you are interested in. It is up to you do do your due diligence on what currencies have any meaning and might stick around a while. BTCe only deals with the top coins and I just read BTCe will stop dealing with TerraCoin at the end of the month, so dont do TerraCoin.
#9 - now make the trades happen. on the BTCe site click onto "Trade" near the top left.
#10 - pick your currency pair. lets say you're looking for LTC currency and BTC to trade. for LiteCoin you would click onto the LTC/BTC button.
#11 - there are two columns just under the bar chart. the BUY LTC area or the SELL LTC area. you want to BUY LTC so stay on the left hand side under the chart. In the box that says "Amount LTC" change the number so that the Total BTC matches your predetermined allotment. In the example above we picked 5 currencies which gave us about 0.3 BTC to spend on each currency. So in the "Amount LTC" to buy you want to put something around 23 which would use up around 0.3 BTC in your BTCe wallet. the goal is to get the Total BTC to match your allotments for the 5 selected coins.
GOT IT ALL??? I HOPE IT MAKES SENSE. If not just ask questions and I will help out.
Now repeat for the remaining currencies you are interested in. It is up to you do do your due diligence on what currencies have any meaning and might stick around a while. BTCe only deals with the top coins and I just read BTCe will stop dealing with TerraCoin at the end of the month, so dont do TerraCoin.
You should now be diversified into other alternative bitcoins a.k.a cryptocurrencies. Do yourself a favor and go order a pizza, go out and drink a flight of beers, go for a run around the block, make love under the stars, travel the world... whatever it is you do just forget about your altcoins for a couple of years. Next thing you know, you'll come back to check your account and it will be worth $3.7 million dollars...
Good Luck and May the Force Be With You!
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The guys in the dark business suits told me to post this. Ya know, just in case :)
INVESTING IN BITCOINS OR OTHER CRYPTO CURRENCIES INVOLVES INHERENT RISK TO THE TRADER. THE INFORMATION VIA IHEARTUBUNTU.COM IS FOR INFORMATIONAL PURPOSES ONLY. YOU HAVE BEEN WARNED.
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The guys in the dark business suits told me to post this. Ya know, just in case :)
INVESTING IN BITCOINS OR OTHER CRYPTO CURRENCIES INVOLVES INHERENT RISK TO THE TRADER. THE INFORMATION VIA IHEARTUBUNTU.COM IS FOR INFORMATIONAL PURPOSES ONLY. YOU HAVE BEEN WARNED.
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