Coinbase Binance Dance. Guide to Purchasing Altcoins.
#Coinbase Binance Dance. Guide to purchasing altcoins.
The Coinbase Binance dance is a multi-step process used to purchase altcoins. (An altcoin is any cryptocurrency that is not Bitcoin). Reddit in particular is very fond of this method as it is commonly recommended to newcomers.
**How it works:** You purchase Ethereum using Coinbase, send that Ethereum to your Binance account, then execute a trade selling said Ethereum for your cryptocurrency of choice.
This is a process that seems very tedious and a bit complicated to crypto-newbies. No need to worry, I’m going to walk you through the process with photos included for visual aid.
Using this method, you can purchase various types of cryptocurrencies including:
Etc… the list goes on. So long as it’s listed on Binance, you will be able to trade for the coin.
##**Accounts to sign up for**
Both Coinbase and Binance are cryptocurrency exchanges you must sign up for in order to do this method.
I recommend you create these accounts sooner rather than later as it can take a few days to get fully verified (especially for Coinbase).
If you’re having issues, or questions, or would just like more information, I have full detailed tutorials regarding both Coinbase & Binance.
* [Coinbase Tutorial. A Definitive Guide for Newcomers](https://www.reddit.com/r/CoinBase/comments/8deqla/coinbase_tutorial_a_definitive_guide_for_newcomers/)
* [Beginners Guide to Binance. How to Exchange Cryptocurrency.](https://www.reddit.com/r/BinanceExchange/comments/8k50dh/beginners_guide_to_binance_how_to_exchange/)
##I have created these accounts. What do I do now?
Awesome! You’ve got the accounts created, now it’s time to do the dance. For the sake of this tutorial I’ll be purchasing the cryptocurrency XRP. Remember, this method works with any cryptocurrency so ...