Bitcoin Forum

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.

https://i.imgur.com/WUYUD5r.jpg
(BTC/USDT daily charts)

https://i.imgur.com/6r1Wv5O.jpg
(XRP/USDT daily charts)

https://i.imgur.com/tNeWyBS.jpg
(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

Everyone has there own trading style. And, ofcourse it depends on when you bought it, but even if you invest long term, it's smart to exit the BTC if the trend goes down. You don't know for how long it will dump.

Look at the charts below. I got out of the bitcoin when it dumpt on 12 june, at $2560. Today we are at $2264. This is a dump of $300 per coin. I personly don't like to loss money.

https://i.imgur.com/ZGjMuiF.jpg

I'm using it really BTC it's a quality that's really good the best to investing

Everyone has their own strategy and style when it comes to trading players. You are in need of a base currency you are familiar with or it most based on your country of residence I think...

I use bitcoin as base currency, I think that the bitcoin already accepted in the majority of the exchange site, i mean all of the exchange sites that gives the more easiest to use the bitcoin as the base pair. and bitcoin has the best volatility right now.

My base currency when all positions are closed is btc because I often trade on btc to altcoins or altcoins to btc market, and I have used USD markets only a few times on trading so my base currency is BTC. Like you said I try to close my position when BTC/USD market is in a down trend, but not all BTC base currency pairs moves in the same direction as BTC/USD, therefore, most of BTC base currency pairs moves in the same direction as BTC/USD market.

Yeah dude...  You're right about that..  Like me,  i have my own stategy and style on how am i going to transac or trade with other people.  You just need to familiarize with it based on your country..

For me, ETH is the base currency for now. If I buy ICO tokens with 10 ETH, after that I will buy 10 ETH to keep I have the fixed amount of ETH.

For me, at the moment only used BTC for all exchange! In near future, i think may be ETH coin

Btc is a dynamic transaction tool in my opinion, although frequent ups and downs of Btc exchange rates are common. And I am very happy for the future if the sale transaction using Btc.

For long-term investment, Btc can be made alternative. As long as we are holding on to higher Btc values. So in my opinion I will sell Btc when its value is higher and invested in the form of something we want.

i am using BTC as my base currency in all exchanges as ETH is very volatile, but will see in future regarding ETH after stability.

If in BTCUSD BTC is the base currency, then how the BTC is the base currency in all the pairs like SKYBTC, THETABTC, WABIBTC etc.... The rule in the markets is that the base currency stays on the left in the currency pair.s So, why BTC is always base, but with USD it is on the left and with altcoins is on the right?

For that reason we now have stable coins which maybe good for some traders but most of the traders like BTC as their base currency since they can make more profits due to the price swings of crypto prices.When trading with bitcoin in long term I like to use USDT,to make profits from the daily price swings.

that is only your choice based on your strategy, that doesn't mean it is the right move for everyone!

the main strategy that majority of traders use (which you can verify simply by looking at volumes and comparing alt/USD versus alt/BTC volumes) is to always go back to bitcoin because bitcoin for everyone is the long term investment which they know is going to go up in long term. so what they do is that for example they invest $1000 in bitcoin (get ~0.2BTC) and then use that to trade and in the end the goal is to turn that 0.2 into 0.5 then 1 then 2,... so that in the future when bitcoin reaches mass adoption and is $1 million they already have a big stash of bitcoins by only investing $1000.

in other words it only works if you expect the market to go down. if price rises (which is the usual case with BITCOIN price only) you will miss out and have to buy a much smaller amount with the same USD amount. like what we had this month where people were waiting around and price jumped up and now is 75% above the bottom where they sold!

that is mainly because majority of people don't trade in USD, they trade in BTC which is why whenever bitcoin price is rising they start dumping their altcoins for bitcoin to go back to bitcoin market with BTC in hand. but since this is not a 100% dump the price against BTC decreases and their price against USD increases slightly.

WARNING
none of these are US dollar so all these names are WRONG. they are all Tether or USDT which is a very risky altcoin and when you go to Tether instead of fiat (USD) then you are taking an additional HUGE RISK.

According to my own assessment, always being the base Bitcoin. I'm always aiming to increase the amount of Bitcoin I have.

me myself I always use bitcoin as a base currency because I can totally match the value, I mean I can easily say if the coin or token is cheap or too expensive. I use BTC as the base currency for the first time I trade but sometimes I use dollars.

I am more comfortable in using btc and eth as base currency because i prefer holding eth and btc than usd. Just imagine i close my trades in usd thinking that btc will go down from that point but it continues its growth and doubles in usd value i have no one to blame but if i was trading btc/eth pair i would not mind even on missing out as im happy staying in both btc and eth for long term because im sure both will grow in usd value so my strategy is very clear.

I usually prefer to trade in alt-coins with IDR as my base currency because this is my country currency so I can immediately know my value of assets.

From the first time and until now, I personally always use BTC, ETH and sometimes, I use the fiat (IDR) as well as the base for currency for every time when I trade.

everyone is going back to bitcoin in the end dude. that is why every single person is in this market, it is bitcoin. there is no exception to that. then some percentage of the user in addition to bitcoin they hold other altcoins which they lose money on and give up sooner or later as they get dumped on.

ps. it is funny how you enphecise on U.S. Dollar and yet you are holding an altcoin yourself called tether specially these days that the owner of it is having trouble with the law :D

Well when i trade top altcoins i exchange them to USDC, but on most exchanges where i trade altcoins are oaired with Bitcoin and on most only this is possible because most of altcoin not have pairs with USD.

Of course, for the person who has a lot of dollars in stocks, morning may well have a future.  But we consider cryptocurrency as a profitable investment, since it is this direction of investment that can provide the largest percentage of income, compared to other types of investment.

We all have our own strategy and choice of currency.
I use Bitcoin as my base currency whenever I'm trading. Most exchanges and platforms accept and adopt it because it's more convenient. Also, bitcoin is good for a long term investment so I guess it's a perfect choice of currency.

I am currently holding many erc 20 tokens so whenever itrade them i use eth pair so i can say i use eth as my base currency. Using eth gives me ease of understanding about the value from ico to the current value so i can know im in profit or loss in eth value.

Bitcoin will be the bease coins for most of my crypto trading pairs,only I will go for stable coins when trading with bitcoin.

I personally prefer ETH, in rare cases BTC, I think that ETH is easier to translate, there is a couple of coins on almost all coins, and I consider the savings to be more profitable in ETH.

If you would like to trade USD pairs, then stop trade with USDT (Tether) because currently the future of this coin is not clear. Rather use pairs with PAX, USDC, Gemini, these are more trusted.

For me I used Ethereum for my base currency , I never using Bitcoin since Bitcoin my long term saving no matter what , whether the price up or down .

Yes, you could do that.
It helps to stabalize your portfolio's actual value and track your progress.

In the Us however, there is a huge problem with that when it comes to taxes.
Every April, we have to file our taxes and if you have been trading in crypto using USD, than you have to list ALL your gains.
If you do day trading, that can easily be hundreds of thousands of trades in a year.
Even if you are casually trading, that can be close to a hundred.
Of course, you could lie on your tax return, but that's illegal so yeah.

That's why crypto to crypto is how I do it.
In this case, binance is the best choice, it has the highest volume and a large amount of trading pairs.
It is also easy to hedge trading pairs against each other.

I always go for ETH and in most cases I go for BTC, that is if need to sell or convert to fiat or to add to my long term hold.. But in almost 70% of my trades is always in ETH as I tend to hold too.

The base currency for me if I start trading now will be Ethereum.
This coin has always been very good in the cryptocurrency market and has always shown us something that can stay on top even in the difficult conditions of the high volatility of the cryptocurrency market.

I believe that the best altcoin to buy today is ethereum although it's market value for now is still struggling but i still believe it can survive and soon its price will rapidly increasing to make many investors profitable.

USDT is good for keeping the money stable. But, BTC is my choice in terms of reliability. USDT is good to hold stable, but when you change to another coin you still have that risk. Also, I do not think our main point is to keep the money stable.

I use bitcoin. I have a goal to significantly increase the amount of bitcoins that I have now and therefore I trade coins paired with it.

after a trade is done I concert my profits to tether
So it’s easy to concert it to btc and have my values back

Since holding BTC has always been my thing, I chose to trade on BTC pairs more often from which the profit I save. ETH is also cool and I trade for it too but not as much as I do for BTC. I believe ETH is one of the best altcoins which is also why I trade and hold too.

Bitcoin and ethereum, I always trade using these two coins because almost all exchanges have pairs for btc and eth. and with these two coins I have become easier in making analysis. and I think these two coins are pretty stable that's why I chose them.

My base currencies used to be the Etherum and the Bitcoin at my first trades on exchanges but today it has totally changed. Because of the high withdrawal fees i wouldn't trade with them. If there is a chance i would like to use the Stellar or Ripple or Dogecoin. Those three coins withdraw fees to low just like 1 piece each, if you check the withdraw fees around 0.001 for BTC and 0.01 for the ETH. So when i use XLM i only pay 0.00001851 BTC.

in fact, I am looking for something that is more profitable, sometimes the courses are slightly different, and yes, I prefer ETH, it’s easier to deal with, there is always a pair, and the cost grows not only to the dollar ratio, but adds to BTC

for me too ethereum was the main coin for investment.  But today I already consider NEO, as an additional coin, which may have real prospects in the future.  After all, with the help of Apple and Samsung Pay, it will be possible to pay for goods using it, and this is a very good step forward.

Basically if you have a base coin to consider, there is always a corresponding pair that should it should have I guess? To consider, you might lose an investment if you just maintain it on bitcoin, not allowing any stable coins to help you save your investment in times of a downfall in the market.

For me, I want a high volatility base currency which is BTC/USDT as well.

Each person certainly has a passion and comfort where they want to work as well as choosing a currency. I am more comfortable trading Altc-BTC. with a short term style, for now, it's better I guess.

I admired your belief and dedication in holding Bitcoin no matter what it takes. It is seldom for me to see a person like you here in the forum, your attitude was a good example for the holders of bitcoin or altcoins. Because sometimes, they are only patience in the beginning but in the long run they will give up and wasted the time they've spent of waiting. I really admired your passion dude, keep it up and I am also doing the same thing as yours.

Short time is indeed quite good. because this trade is indeed very profitable. I myself have learned about these advantages, but the moment and experience are very much needed

of course the best base currency for do trading is usdt because the price is stable no matter what will happend to cryptocurrency price. usdt won't dump or pump . its gonna stable there

Same as me. I have always preferred Eth as base currency on all my trades except for exchanges where it's only BTC then I trade with BTC pair and change back to ETH. That way I always have a good supply of Ethereum. In times where BTC looks to be taking a run, I buy some BTC and buy. Once in profit, I go back to ETH

I admire one kryptomonetoy bitcoin.  I believe that it is always worth investing in the leader of the crypto market and you will rarely lose.

If BTC bearish I will choose USDT or another stable coin for my base currency. I don't want to take risks, so I always sell all my coin before I sleep or setting stop loss.