Bitcoin tends to dominate the conversation about cryptocurrencies, which makes sense considering its status as the most popular and valuable cryptocurrency on the market. However, there is a world of opportunity in tokens and coins beyond Bitcoin, collectively known as altcoins. From diversifying your portfolio to discovering new communities, altcoins are one of the go-to assets for every cryptocurrency user. Read our primer on buying altcoins with BitPay.
What is an altcoin?
Technically speaking, altcoin Cryptocurrencies other than Bitcoin mean that virtually the entire cryptocurrency market consists of altcoins. Most of the thousands of altcoins can be classified in one of four ways:
stablecoin
stablecoin A cryptocurrency with its value “pegged” to another asset, most often the U.S. dollar or another major world currency. The peg is generally maintained by the issuer, who holds dollars and other assets equal to the amount of stablecoin in circulation. Examples of stablecoins include USD Coin (USDC) and Binance Dollar (BUSD). Stablecoins are popular because they maintain their value and are not affected by the volatility of other cryptocurrencies.
utility token
utility token It is used to enable certain functions or access core services within a blockchain network. for example, Pay for network fees, earn rewards or purchase services. Examples of utility tokens include Basic Attention Token (BAT), Funfair (FUN), and Ether (ETH).
Governance Token
Governance Token It gives cryptocurrency holders the right to participate in community proposals that determine the future of the project. Holders vote with their stake, and the votes of the largest holders carry the lion’s share of governance proposals. Examples of governance tokens include Maker (MKR) and Uniswap protocol token (UNI).
meme coin
meme coin It is an altcoin that has gained popularity due to internet hype and social media buzz. Meme coins tend to be very volatile, and their price can move dramatically with just a tweet from Elon Musk or another industry influencer. Well-known examples of meme coins include Dogecoin (DOGE) and Shiba Inu (SHIB).
How to Buy Altcoins with BitPay
BitPay makes it easy to buy altcoins safely and with minimal fees. BitPay Wallet App or our website. if you bring your keys You can manage all your assets right from your existing wallet. self custody Bitpay wallet.
Follow these steps to start buying altcoins with BitPay.
Buy altcoins from BitPay wallet
Step 1: Download the app
Download the BitPay app on your mobile device Purchase from your preferred app store or scan the QR code blow. If you already have the app, you can skip to the next step.
Step 2: Tap “Buy Cryptocurrency”
Buy the best altcoins like Ether, Dogecoin, Polygon and USD Coin.
Step 3: Select the amount and altcoin you want to purchase.
Next, enter the fiat amount you want to convert and select the altcoin you want to convert to. BitPay supports dozens of global currencies, including USD, EUR, GBP, AUD, and more.
Step 4: Choose a payment method
One of the easy ways to purchase cryptocurrency through BitPay is through its various payment options. BitPay allows you to purchase altcoins with your credit or debit card. apple pay, Google Pay and even Local bank transfer (Restrictions may apply, please contact your branch)
Step 5: View suggestions
BitPay ensures that users always best price possible When purchasing cryptocurrency. Our many global partnerships allow us to offer our users a variety of offers at a variety of prices, without hidden fees or excessive markups. Scroll through the offers to find and select the one you like best. You will be taken to one of our partner sites to safely complete your transaction.
The best self-managed wallet for buying, storing, exchanging and spending cryptocurrency
Get the BitPay Wallet App
Buy altcoins on BitPay website
You can also seamlessly purchase altcoins directly. Bitpay website Make sure to send it to a self-storage address. Just follow these steps:
Step 1: Enter the amount of altcoin you want to purchase.
Enter the amount of the altcoin (or multiple coins) you want to buy or the amount in your local currency you want to convert.
Step 2: Enter your wallet address
If you already have a wallet, enter: address Where do you want to send your newly acquired cryptocurrency? I recommend it to anyone who needs a wallet. BitPay Wallet For security and convenience.
Step 3: Select the offer you want and complete the transaction.
BitPay’s partnership allows us to provide our users with a variety of offers. Ensure you always get the best rate When purchasing cryptocurrency. Once you select the best offer, you will automatically be redirected to the partner website to complete the transaction.
What altcoins can I buy with BitPay?
Whether you purchase through the app or website, BitPay allows you to choose from a variety of the most popular altcoins. You’ll always get great rates – no hidden fees or excessive increases. You can purchase over 150 cryptocurrencies. The most popular altcoins you can buy with BitPay are:
Benefits of Buying Altcoins with BitPay
The many advantages of using BitPay to buy altcoins become clear after your first transaction. But if you’re still at a loss, consider these benefits.
fast delivery
Transactions are completed in minutes (or less) rather than hours. This means less time waiting to get your hands on altcoins.
self custody
Security is of utmost importance to all cryptocurrency users. Buy altcoins and have them delivered to your self-custodial wallet address.
Various payment methods
Preferred payment method does not prevent you from purchasing altcoins with BitPay. Use your credit or debit card, Apple Pay, Google Pay, or local bank transfer.
high limit
Want to buy a lot of cryptocurrency? are you okay. BitPay allows you to purchase your favorite altcoins at high limits.
What should I do with my altcoins after purchase?
Keep it safe and stored
Keep your cryptocurrency safe. Self-storage cryptocurrency wallet Same as BitPay wallet. You can import all your other wallets and manage all your digital assets from a single interface.
Exchange your cryptocurrency
Now that you’ve gotten a taste of altcoins, you’ve probably discovered more that you’d like to try out. The BitPay app allows you to easily exchange almost any cryptocurrency for another cryptocurrency. Learn more about cryptocurrency swaps here..
Spend across the BitPay platform.
Now comes the fun part. BitPay makes it easy and safe to use use altcoin, offers a variety of ways to pay with cryptocurrency through a flexible platform. Convert your cryptocurrency to fiat instantly. bitpay card You can unleash your cryptocurrency spending power almost anywhere in the world. If you’d like to try cryptocurrency yourself, here’s a look: seller directory There is a growing list of top retailers that already accept cryptocurrency payments. Want to cover your monthly bills with cryptocurrency? use BitPay Bill Pay to pay for everything Credit card and car payment to mortgage and student loan. almost all bills BitPay Bill Pay allows you to seamlessly pay using cryptocurrency. Finally, you can too Buy gift cards Buy from your favorite brands using your favorite cryptocurrency through the BitPay app.