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I’ve recently started investing in cryptocurrencies and some of the exchanges, such as Binance, do not accept U.S. dollars. How do we trade on them?

By Matt McCallJan 10, 2018

The one issue with buying coins outside of the four that are listed on Coinbase (Bitcoin, Bitcoin Cash, Litecoin and Ethereum) is that you will typically have to buy them with another coin. The most-widely accepted option is buying them with bitcoins. Two of the major exchanges that accept bitcoin as payment are Binance and Bittrex, and the process of moving bitcoin from Coinbase to both is fairly simple. However, both Binance and Bittrex have halted the opening of new accounts for the time being due to overwhelming demand.

Until they begin accepting new applications again, you can use Kraken. I personally went through the process of setting up an account on this exchange, and it only took about 10 minutes to complete. Once you’re set up, you can buy bitcoins using U.S. dollars and then be all set to purchase other coins.

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