Bitdenex : How to Buy Ethereum & Other Crypto with Bitdenex
It’s simple to purchase Bitcoin on the internet, but what if you want to purchase Ethereum or another cryptocurrency?Trade your crypto now with Bitdenex.
We looked at the step-by-step procedure of buying Bitcoin online using Coinmama the other day. However, cryptocurrency is much more than Bitcoin. In reality, there are more than 4000 currencies included in the cryptocurrency rankings. (Cryptocurrencies other than Bitcoin are referred to as Altcoins or simply “alts,” both of which are abbreviations for “alternative coins.”)
So, why should you purchase Ethereum (or Litecoin, Cardano, or Tezos) when you can just buy Bitcoin? We’ll look at the advantages of altcoins, the altcoins Bitdenex carries, and how to acquire cryptocurrencies like Ethereum or other altcoins in this post.
Why Are Altcoins So Popular?
You’ve probably heard of Bitcoin maximalism, the notion that you should only invest in or acquire Bitcoin. Bitcoin maximalists offer compelling arguments, claiming that investing in any other coin will devalue Bitcoin and compromise its network security. Those are legitimate considerations, but there are more compelling reasons to invest in Ethereum and other altcoins:
Examine the undertaking
While Bitcoin is only a form of payment, many other cryptocurrencies are used to support a project. In reality, several new cryptocurrencies were formed in 2017, and many of them are related to Initial Coin Offerings (ICOs)—fundraising attempts to support particular blockchain projects. Altcoins related to ICOs were commonly referred to as “tokens” and ran on the Ethereum network.
While the bulk of the projects that sprang up during the ICO boom flopped or were, sadly, frauds (and the currencies connected with them are now worthless), a few real players made it through. For example, Ethereum was one of the first ICOs, and the Ethereum token (ETH) was used to fund the Ethereum project’s development.
When you purchase Ethereum, you’re basically investing not just in the coin’s success, but also in the success of all other Ethereum-based projects, such as the hundreds of tokens and decentralized apps that operate on the platform.
Many other cryptocurrencies, like Cardano, exist today and serve as the foundation for other blockchain initiatives, making them more like a B2B (Business-to-Business) firm than a currency. To put it another way, if you see a coin associated with a concrete project you believe in, think of it like any other firm you could invest in.
Of course, predicting the markets, predicting which altcoins will succeed and which will fail, and predicting how much the Bitcoin or Ethereum price will grow or decline is difficult. As we previously stated, many of the initial coin offerings (ICOs) that were launched in 2017 or 2018 failed or were frauds. Not only that, but altcoin volatility is often considerably higher than Bitcoin’s (which is already a very volatile asset). However, cryptocurrencies as a whole are cheaper than Bitcoin, and you can acquire a lot more of them for the same money.
Ethereum, Litecoin, and more at Bitdenex
So, how do you go about purchasing cryptocurrency? Bitdenex makes purchasing Ethereum and other popular cryptocurrencies simple. Bitdenex carries the following cryptocurrencies as of this writing:
- BTC (Bitcoin)
- LTC (Litecoin)
- XRP (Ripple)
- TRX (Tron)
- ETH (Ethereum)
- USDT (Tether)
Bitdenex: How to Buy Cryptocurrency?
The steps below will show you how to buy Ethereum and other cryptocurrencies online at Bitdenex:
STEP -1 Register for a free Bitdenex account.
STEP -2 Link Your Bank Account.
STEP -3 Start Buying and selling.
The most essential thing to know when buying cryptocurrencies is that various cryptocurrency wallets support different coins, so make sure you give a legitimate wallet address when completing your order.
At the end of the day, it’s your choice whether to buy Bitcoin, Ethereum, or other altcoins. At Bitdenex, we carry the most popular cryptocurrencies so that you may simply diversify your portfolio. Investing in anything, whether Bitcoin, Ethereum, or other cryptocurrencies, comes with a risk, and only you can decide if that risk is worthwhile. If and when you do decide to buy, Bitdenex is delighted to welcome you to our strong worldwide community.