How to Buy Altcoins: A Step-by-Step Guide

Altcoin trading is conducted through platforms like bitlo.com. The price is determined based on supply and demand in the market. Altcoin can be divided into smaller parts, so instead of buying 1 Altcoin, you can trade in smaller amounts as long as your transaction amount is greater than 1 TRY. To buy and sell Altcoin, you need to have a virtual wallet, that is, an Altcoin address. To buy Altcoin from Bitlo.com, you need to follow these steps:

1. Go to https://bitlo.com
• Make sure there is a green SSL certificate in the address bar.
2. If you haven't filled it out before, complete your information such as date of birth and Turkish ID number from the "Account" section. If you have already completed this process, you can skip this step.
3. If you don't have any cryptocurrency or TRY in your account, click on the "Deposit/Withdraw" section. If you do, you can skip this step.
• Enter the amount you want to deposit from the TRY Deposit section and click the "Send Notification" button to fill in the confirmation checkboxes. Click the Continue button.
  Note down the transaction description code in the deposit code section that appears.
• You must make your transfer through personal and demand TRY accounts registered in your name.
• The recipient/title field must be written as Bitlo Kripto Varlık Alım Satım Platformu A.Ş. Transfers sent with different, incorrect, or incomplete recipient names will be rejected by the bank and returned to the sender's account after deducting the return transaction fee.
• The description field of your wire transfer must contain the correct code shown in the transaction description section of the notification screen, which is generated separately for each transfer transaction. Transfers with missing, used, or invalid description codes in the EFT/Wire transfer description field will be returned to the sender's accounts.
• For each new Turkish Lira deposit notification, check the recipient bank details shown to you and only send to the bank and IBAN number specified in the TRY deposit notification form.
4. Go to the "Easy Buy/Sell" tab.
5. Enter how much TRY worth of Altcoin you want to buy and click the "Buy Altcoin" button.
6. Your transaction request has been received.

How to use Altcoin?

To buy or use Altcoin, you need to create a virtual wallet. Through these wallet addresses, you can exchange cryptocurrency and make purchases. Altcoin transfer transactions are signed with asymmetric encryption and sent. Each transaction is announced on the network and included in the blockchain, i.e., the chain. This prevents the same Altcoin from being used multiple times.

How to convert Altcoin to cash?

To use cryptocurrencies as cash, you can make sales transactions through exchanges. Similarly, Altcoins can be sold through the exchange, and the equivalent real money amount is sent to individuals via EFT or wire transfer.