How's it going everyone It's Austin with the Crypto Playhouse here and we've had a ton of followers emailing us, commenting and they're trying to get in, buy Ripple and some of the smaller, new and up-and-coming altcoins like Iota

So today I'm gonna show you how to set up a Binance account It's an alternative cryptocurrency exchange, instead of using the usual Bittrex It's much easier to get started, so let's dive in and see how you can get started buying some altcoins on exchanges [opening music] Alright, so for a long time, Bittrex has been the go-to exchange, but really I've been loving Binance lately and the greatest way to review Binance is to compare it to Bittrex, because that was really the biggest player on the block for a long time Now, the first thing that stands out with Binance vs Bittrex is the setup process on Bittrex is ridiculous

There's tons of verifications, all kinds of stuff you have to do Binance is super simple We got a link down in the description for our referral You go over there and it will literally greet you with this little page here All you need is an email, set your password, you're set to go

They'll send you an email I do suggest setting up two-factor authentication as you would on Bittrex, but that's all You're ready to go once you fill that out No verifications and you can trade and withdraw up to two Bitcoin a day, which is phenomenal! Alright, so like most people that got into the cryptocurrency trading game, I started on GDAX and then I found out about Bittrex because they have more altcoin choices and I was a religious Bittrex trader for a long time until I found Binance One of the big things with a lot of these exchanges is they're charging a quarter percent commission fee on your trades and one of the huge standouts of Binance is that they're only charging 0

1% commission on whatever you trade That is a huge help! You're talking about reducing your commission fees by over a half from what you would get with Bittrex Now, for a while I was a little skeptical about Binace because the volume wasn't quite as high, but more and more people are now starting to hear about Binance They're migrating over to the Binance platform from Bittrex and since I've starting using, they actually just surpassed Bittrex in the daily volume Over here on Coinmarketcap, we can see that in the past 24 hours, it actually exceeded the Bittrex volume by over $300m

So what we're seeing now is that even though Bittrex has been established for a longer time and was the go-to trading platform for a lot of crypto traders, Binance is really ramping up now and they're rate of growth is exceeding Bittrex They've top now in volume Now Binance offers 222 different altcoins, whereas Bittrex offers 269, but some thing to note is that Binance does offer some of the newer and kind of more cutting edge altcoins that Bittrex hasn't added to their platform yet, such as Iota, so that's a very appealing thing for me And something I've also noticed is that while Bittrex is slowly adding more altcoins and de-listing some, Binance is growing that number of altcoins at a faster rate, so chances are in not very long, we're going to be seeing Binance probably surpass Bittrex as the new go-to cryptocurrency exchange Alright, so naturally with any good, there's also some bad

I do like Binance, but I have to say, they're charting tools are terrible It's not really very different for any of the exchanges I've traded on I'm not a fan of GDAX's charting tools I'm not a fan of Bittrex's charting tools, but some of these other exchanges have collaborated with Tradingview and they've given their APIs out, so it can be fed into a better charting system Binance isn't there yet, but we're hoping that's something we're gonna see in the future, because realistically that's my only gripe with Binance at the current time

I don't really love the way that it's set up and I don't like the level of customization, but if Tradingview comes through on that, I will be more than happy to completely migrate over to Binance from Bittrex Alright, so for a while now I've been watching Ripple move I got back in pretty early on it, but I think it's gonna keep moving for quite a while There's some rumors about Ripple going on to Coinbase If that does, we all saw it with Bitcoin Cash

We know it's gonna boom So, I've already got quite a bit of Ripple over on Bittrex, but I wanna show you guys how you can purchase Ripple through Binance Today, we're not going to be doing a limit order Normally, that's how I'll be doing active trades, but because we're gonna be holding ripple, I'm just going to go in I'm gonna do a straight market order

Show you how to do that and we're gonna be putting just a little bit over a thousand dollars, so it should give us a decent chunk of shares So normally if I was doing my day trades, I would be going in and doing limit orders It gives you more control over the price and how many shares that you wanna do, but today I'm going to be buying Ripple, which I think it's a great thing to hold on to, so I'm just gonna be dumping all of the Bitcoin in my Binance account for now straight into Ripple and we're just gonna go right in at market price Now, one of things that I do like about Binance platform is the fact that it gives you percentage based buy-ins, so instead of having to deal with how many shares you wanna get and all that, you can literally just hit 100%, dump all of your funds into that coin They also have 75, 50, 25 obviously, and you just hit it, go Buy and the transaction is done

Easy as that And there we go! We're all set with some Ripple! So, I hope you've enjoyed this video We've got a link for Binance down in the description If you're looking to invest in Ripple, this is a great, easy way to get going on that I hope you guys liked the video

Shoot us a comment if you have another platform that you'd like us to review as well and subscribe to the channel! [ending music]