Many of you have been asking how to run the “Buy and Hold 100 cryptocurrencies for 5 years” experiment, where exactly to buy the cryptos and how to actually get started. To make the whole process easier I decided to make a tutorial in details, where all your doubts and obstacles should be finally gone.
First of all, let me explain you on what the experiment consist. On December 8, 2017, I invested $1000 USD on the top 100 cryptocurrencies based on the market cap, buying $10 of each. Instead of selling them with a profit, I will just wait 5 years and see what happens with it.
We will divide this tutorial into few steps.
- Where to start?
- How to buy Bitcoin?
- Exchanges needed to buy all the cryptocurrencies
Where to start?
First of all, you should have a clear understanding on what cryptocurrencies you want to invest, as I already mentioned before I simply bought the top 100 by market cap, if you want to do something similar, you can check coinmarketcap.com and see what the top 100 cryptos are at the moment. If you want to get the same cryptocurrencies I got, then I’m going to list all of them for you and point you to the right exchange to get them. After that, you will need to buy some Bitcoins and use part of it to buy the other cryptocurrencies. So let’s get started.
How to buy Bitcoin?
If you want to use a debit/credit card the easiest and quickest way would be to do it with Coinbase.
(if you need help follow the tutorial
Otherwise, if you want to buy it with cash or alternative payment methods, such as PayPal, Skrill, Alipay, Postepay, Dwolla, Venmo, Vanilla, Square Cash, etc. etc. I suggest you check out Localbitcoins
Once you got some Bitcoins you need to send them to the other exchanges to buy the cryptocurrencies.Don’t worry I’m going to guide you through this.
Exchanges needed to buy all the cryptocurrencies
We’re going to use 5 exchanges to buy all the cryptocurrencies we need to do the experiment. If you already have the accounts you can skip to the next step
- Make an account on Binance , if you need help follow the tutorial
- Make an account on Kucoin , if you need help follow the tutorial
- Make an account on Hitbtc , if you need help follow the tutorial
- Make an account on Cryptopia
- Make an account on Bittrex
If you want to know exactly how many cryptocurrencies you can get from each exchange, here is the breakdown
- Binance – 38 Cryptocurrencies
- HitBTC – 21 Cryptocurrencies
- Kucoin – 18 Kucoin
- Cryptopia – 13 Cryptocurrencies
- Bittrex – 9 Cryptocurrencies