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Everyone starts somewhere. I’m no expert either as I just started. Transfer your LTC to binance. You can purchase alts with BNB, BTC, ETH. So you will need to sell some of your LTC for one of those currencies. Your choice but not all alts can be bought with each so look at the options. So for an example if you want Ripple and you were going to use BTC to buy it, this is what you could do:
1. LTC- GDAX -> Binance
2. Go to LTC/BNB and sell LTC for however many BNB you want.
3. Set transaction fees to be paid by BNB.
4. Go to LTC/BTC and sell however many LTC you want in order to get enough BTC to buy XRP
5. XRP/BTC- buy what you want
+1 on what KPMG said. @ all, I've got a YouTube channel. https://www.youtube.com/channel/UCIJwfqnd8KCTDzVsKC5wbEw
I'll basically take all your requests and make video tutorials out of them.
It's worth it. https://youtu.be/fG7TLtTzFGc
If you have a Coinbase account, you have a gdax account. It’s the same login info I believe
account and transferring coins from coinbase to GDAX is worth the extra step. I don't imagine I will become a day trader so I was wondering if supplying the last 4 digits of my SSN, mailing address, etc to GDAX is worth whatever transfer savings it provides. Also, when using Binance, I've heard that converting to their Binance cash coin reduces transaction fees, but is this extra step worth it? I guess I'm kinda wondering if these two methods of saving are worth the trouble or if I should just transfer from coinbase to Binance directly
Same answer for your binance question. If your not trading a lot you don’t need much BNB. Buy like 1 and change the setting to pay fees with BNB
EY1 - thanks for the link. Is it common to have to provide the last 4 of your SSN, street address, birthday, occupation? I don't really understand why GDAX needs all that information and that's what is making me hesitant to use it
KPMG1 - probably dumb questions, but where do you buy the BNB coin? If I transfer litecoin from coinbase or GDAX to Binance, I'll have litecoin on Binance. Then I use some of that litecoin on Binance to buy some BNB? You mentioned buying 1 coin - how do you know how much to buy? And then where do we go from there to buy alt coins? Sorry for all the questions..I've done some reading and watched some YouTube videos but they don't seem to cover each of the steps involved