One of the biggest obstacles faced by people who desire to invest, trade or buy different cryptocurrencies like Ethereum, Litecoin, IOTA, Ripple,etc, is the difficulty in finding exchanges that would readily accept their local currency in exchange for their desired cryptocurrency. The good news however is that all cryptocurrency exchanges accept Bitcoin, and also, you can easily find an exchange that accepts your local currency in exchange for bitcoin.

Below is a simple step-by-step guide on how you could purchase any cryptocurrency of your choice from your country, using your local currency.

 

STEP ONE: PURCHASE BITCOIN

Please read: How To Buy Bitcoin Anywhere in The World, locate your country/region in the article to find out how to buy bitcoin from your location. Once you’ve successfully purchased bitcoin, proceed to STEP TWO.

STEP TWO: FIND A CRYPTOCURRENCY EXCHANGE

The biggest and most notable exchanges are Bitfinex, Bitstamp; Coinbase‘s GDAX, Kraken, and Gemini.

Another popular solution is an “instant exchange” like ShapeShift or Changelly, both which will require you to send Bitcoins and it will convert it to the cryptocurrency of your choice, which it will send to a wallet address you provide.

👉 Note however that you’ll need to do your homework and decide on an exchange that works best for your needs.

 

STEP THREE: SEND YOUR BITCOIN AND BUY ANY OTHER CRYPTOCURRENCY

All you need to do is create an account with a reputable exchange. Depending on the platform you’re using, you’ll then be provided with a Bitcoin address. Send bitcoins from your bitcoin wallet to the new bitcoin wallet address you’ve received on the exchange you signed up with. Once you receive your transferred bitcoins into your exchange wallet, simply follow the platform’s instructions on how to purchase your cryptocurrency of interest.

For quicker and less stressful exchange, you can make use of an  “instant exchange” like ShapeShift or Changelly

STEP FOUR: SEND YOUR NEW CRYPTOCURRENCY TO YOUR SECURE WALLET

It is very risky to leave your funds in an exchange as they can get hacked or closed down and you can lose all your funds. So always transfer your funds to your secure wallet.

Please read: Cryptocurrency Wallets – A Comprehensive Guide for a detailed understanding of what a cryptocurrency wallet is, how they work and which ones are the best for you.

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