What Is Alt season, Everything You Need to Know About Altseason and How to Position Yourself
Alt season is one of the most remembered seasons in the Cryptocurrency space around the world aside the Bitcoin Halving.
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Alt season means Alternative Coin Season. A season for all cryptocurrencies aside Bitcoin (the base cryptocurrency) usually during or after Bitcoin Bull market.
Usually during this season, most of the cryptocurrencies increase in price while others may or not see a significant price movement. For many people it’s a season of bagging profits.
But to the Bitcoin maximalist, it’s otherwise, they tend to attack altcoins because many altcoins at this time might see a huge percentage increase against Bitcoin. Just like this year’s Alt season where we saw increase in DeFi tokens.
So let’s quickly look at what Altcoins are. These Altcoins brought about the Alt season. So What is Altcoins?
Altcoins like we partially highlighted earlier. Altcoins means Alternative Coins. These are coins other than Bitcoin (the mother cryptocurrency). Any coins (both Cryptocurrencies and Tokens) other than Bitcoin are considered Altcoins.
Some of the most popular Altcoins on top the list after Bitcoin include Ethereum, OK coin (OKEx Coin), Tether (USDT) and XRP. The list goes on from stablecoins, DeFi Tokens, utility tokens etc and many others.
What Altseason is All About:
This season simply suggests a season during which the crypto markets gets a huge influx of new investors in the crypto space.
Historically, this season usually occur when Bitcoin reaches a new all-time highs at any point in the market.
During this period there is this FOMO where people start looking for opportunities to quickly buy any cryptocurrency hoping to profits from them.
The problem for newbies here is that they fail to know what to do and how to go about it. They fail to know where, when and how to get into the market at this time.
This is because both novice traders and advanced traders now have a variety of tokens or assets to buy into. A knowledge of good trading platforms like OKEx crypto exchange will definitely help them to onboard.
Remember that this season will surely come and go, if you miss any, onboard and position well for the next.
Like the Bitcoin Bull Run of 2017 that signaled one of the most significant Altseason in the space. DeFi tokens seemed to be spearheading this year’s Altcoins Season.
Many new traders joined the cryptocurrencies space, education is a paramount knowledge to onboard new users and is very important.
Five Sure Ways to Onboard Yourself:
A good Knowledge of Cryptocurrency: You will need a good knowledge of cryptocurrency trading to help you understand how to navigate through apps, sites and other tools you will need to onboard.
Get Your Bitcoin Ready: In other to position yourself during this period, you will need to have your own Bitcoin beforehand. Bitcoin is the mother cryptocurrency for the Crypto market. Having it beforehand will help you to easily onboard whenever this season comes to us.
Own Your Bitcoin Trading Account: You need to have your open Bitcoin or Cryptocurrency trading accounts. Having one will help you to switch and benefit during this period.
Open Your Own Bitcoin Wallet: A Bitcoin Wallet is a wallet that you can use in storing the Bitcoin you bought with your Nigerian Naira. You can check here to see various Bitcoin Wallets you can use in storing your Bitcoins.
Open Your Own DeFi Token/Altcoins Wallet: You can open a new DeFi Token/Altcoins Wallet to store all your Altcoins. Don’t forget to check here to see the best wallet that suits your need without compromising the security of your funds.
The Volume of Altcoins has continued to increase. OKEx, one of the most liquid Cryptocurrency trading platforms by trading volume offers a variety of this Altcoins on its trading platform.
While the Altcoins season will always come and go, position yourself and onboard early to avoid FOMO.
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