Don’t PANIC! January Is the Best Month of the Year! Here’s How and Why

Have you thought of hopping on the cryptocurrency market but haven’t decided to pull the trigger yet?

Fortunately — January is the best time to hop on the train!

Why is it a good time to buy? —I’ve got a really simple answer — It’s the annual discount/crisis time! All cryptocurrency tokens/coins are down circa -30%!

Don’t believe it’s a good time to buy? Good! You should never trust a stranger on the internet.

Allow me show you the 2017 January crisis.

2017 January Bitcoin price chart

After dipping below 1000 dollars, bitcoin reached nearly 20k less than a year ago.

Still don’t believe me?

Here’s the 2016 January crisis.

2016 January Bitcoin price chart

Still need convincing? I’ll give it one final push.

Here’s the 2015 January crisis.

Start to see a pattern?When it clicksBelieve it or not, January is the best time to buy.

Alright Indrek, thanks for clearing things up.

How do I buy bitcoins and altcoins?

I’m glad you asked. I wrote a very detailed guide, please take a look!

How I do buy “alternative coins”?

Buying alt coins is very simple actually!

I’m going to use binance — by far the most trusted and biggest cryptocurrency exchange.

Visit this link for registration and press register up on the navigation bar. (has my ref attached to it, free bonus!)

binance registration

Don’t forget to enable 2 factor authentication and verify your email for security reasons!

You can’t use FIAT money (dollars, euros, swiss franks, pounds, etc) with binance — you have to use coinbase to insert your fiat money and send the bitcoin or — I recommend much more ethereum — to binance.

The most efficient path to altcoins is the following:

Insert fiat to coinbase -> send ethereum from coinbase to gdax -> send ethereum from gdax to binance.

The following chain for buying works like this: fiat->coinbase->gdax->binance

For cashing out the chain is the same, just in reverse.

Gdax and coinbase are the owned by the same company, the difference is gdax is more like a exchange (has only 4 coins currently) and coinbase is more like a wallet/place you insert your fiat.

Alright! Assuming you have ether on binance now — we can head to the market.

Press on the basic or advanced exchange. The “advanced” layout actually looks less complicated 😃

“basic exchange layout”

This is what we see. Lots of stuff going on.

“advanced layout”

How buying works is you pair your alt coin with a currency, may that be bitcoin or ethereum

Let’s look up — we can see our pair — BNB/BTC

Currency pairing

This means we can either sell or buy BNB (binance tokens) in Bitcoins(BTC).

Click on the pair and you should see a modal pop out.

Let’s switch to ETH if you transferred ETH, if not — stick with BTC. Search for NEO. Neo is basically the Chinese Ethereum.

Place a bid (buy order)

And that’s all, I just bought a single NEO token.

Please check out the supported pairs and available coins/tokens on their main page.

You can view your binance balance here.

Thanks a lot for reading! If you found this useful, please give me some claps retweet so more people see this! For questions, my Twitter can be found here!

• The Ultimate Guide To Understanding The Basics of Blockchain and Cryptocurrencies
• Cryptocurrency Prices Straight Outta CLI 💰

❤

Don’t PANIC! January Is the Best Month of the Year! Here’s How and Why was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.