Bitcoin Forum

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

I trade in Bittrex, I choose a coin that is experiencing a 20% price reduction. You can buy several coins that have large volumes. After that if you already buy then you just do sell at a decent price.
The profits can be redeemed to Fiat. up to you  ;)

Thanks but I'm looking to answer those questions specificly.

I mostly use QuadrigaCX for selling Bitcoin, but depending on if I just need some quickly I might buy from Coinbase simply because of the easiness factor. For trading alts I use Bittrex.

There definitely can be a lot of fees involved, and recently the transfer fees have been higher than in the past (dollars as opposed to cents). Buying from an actual exchange (vs Coinbase or an ATM) will cut down on some of the fees as well.

Here’s my answers to your questions.

1.   Usually, I buy from coinbase or localbitcoin
2.   Poloniex, Bittrex and Liqui
3.   Yes I convert alt coins to BTC. I don’t think it defeat my alt coins profit since I gain more BTC when selling alt coins.
4.   Same thing, I withdraw using coinbase or localbitcoin.

I have bought from bitfinex but mostly I use localbitcoins to buy with local currency directly.

bitfinex mostly but since I am more of a altcoin trader I am on bittrex most of the times.

I don't buy altcoins with fiat to want to "convert back to bitcoin". I buy they with bitcoin and sell them for bitcoin too. this means for example I invest 1BTC and get 2BTC out, so automatically my profit is saved in bitcoin form and there is nothing called "bitcoin is low", bitcoin is always rising at all times. even after the recent correction price is still 280% higher than the start of this year! and will be higher next year and next year, and so on.

no, I am a hodler so I hodl bitcoin for long term. sometimes I sell some small amounts if I need money or if I want to get something out to keep myself happy with fiat profit. but it rarely happens and it is always a small amount.

the fees, no matter how many they are or whatever, should be much lower than your profit. if they are not that means you are doing something wrong and maybe trading is not meant for you.

Everybody has their own strategy to trade with cryptocurrencies. I use localbitcoins to buy and exchange crytocurrencies.
I usually trade some major altcoins but i have kept bitcoin as my primary digital currency.

1. I buy it from a local exchange where it is convenient to buy and sell. I also use localbitcoins from time to time.
2. I use poloniex, bittrex, yobit, kraken, etc. depends on where the altcoin I am looking at is cheaper or more expensive
3. Uhh, you can't profit unless you convert it back to BTC. :/
4. Uhh, you cannot withdraw your money if it is not fiat. You cannot cash out bitcoins as a physical bitcoin. :/

Fees are fees, you have to deal with it. That is why if you are trading you need to take those into account.

1. I buy some bitcoins from my local exchanger and i also earn it some from services.
2. I usually use bittrex, hitbtc, poloneix and livecoin. It's depend on what altcoin i want to trade because some exchanges not provide that altcoin.
3. Yes, i always convert it back to bitcoin and withdrawal it into my wallet. Actually i always trading from altcoin to btc.
4. No, just withdraw bitcoin and i convert it into fiat with local exchanger.

I used to buy bitcoin last year when it is about $500-$600. Now, I'm not anymore. I may still if I have to. In my case, I always find to make bitcoin either via trading or services hence not into buying. I used to trade manily at Polo, but I'm at bittrex now. However, I trade everywhere for arbing if there's a chance. I only convert to my local currency when I needed it.

I'm very new to the crypto market. I started using bittrex and it seems like a good and easy way to go.

So far I only trade altcoin in bittrex, although not every trading transaction i get profit, but over time i have been able to buy electronic goods from my earnings through altcoin trading in bittrex.

To answer some of your questions, I buy bitcoin through a local exchanger online then from there transferred it to Bittrex, that's the only exchange site I am currently trusting though I have Poloniex as well. At first when I gain profit from the altcoins I have traded I usually withdraw my capital and leave the profit behind and hold them for a long long time, but now I just hold most of my coins and don't convert them not unless if I really really need the money. And yes, there are a lot of fees every time you make a transaction so it's already expected and that's the reason why I don't withdraw yet the coins.

Okay can anyone answer this important question.

Say you bought 1 Bitcoin at $4000. Then you use that bitcoin to buy a alt coin at $5 each. So $4000 divided by $5 is 800. Which means I will have 800 alt coins. Then let's say 6 months later 1 bitcoin is $8000, and say the alt coin is now $6. Only a dollar increase. I go to convert the alt coin to bitcoin, won't I lose? Even though now alt coin is $6.

Because I have 800 alt coins worth $6 now. When you convert it back to bitcoins it is only $4800. Which is not even half a bitcoin. Which means I went from 1 bitcoin to almost half.

So investing in alt coins even if you profit is no good because bitcoin value is going up.

Or is my thinking and logic faulty?

You're making a lot of assumptions, but yes, in your example you would have been better off keeping your money in Bitcoin. You're assuming that Bitcoin is going to reach $8000 (double) and that the Altcoin is going to only go up $1 each. The altcoin could just as easily double as well. You have no way to know for sure. Thats why  speculation isn't too far off from gambling.

1. I am getting my bitcoin from various services that I work with like signature campaign, social media campaign and other sources. I don't buy bitcoin since it is pretty expensive when I use my fiat money so better work and have bitcoin as form of salary.
2. I use Bittrex to trade now. I use Poloniex before but there are some issues there that's why I transferred to Bittrex.
3. Yes I convert it back to BTC but I am not worried if the price of bitcoin is high or low since I just hold my BTC and not convert it to USD. Bitcoin is still going up as always so even if there is a correction in its price, I don't mind it since I believe it will recover and then go up again.
4. Sometimes, I convert some of my BTC because of some urgent needs or I just wanted to taste my profits but the amount is just minimal.

I just altcoin trade so I don't have to worry about all of that KYC bs and have to claim all of these little things on my taxes. What a mess that would be.

1. No any bitcoin trading platform accept bank deposits from my country so I have to buy bitcoin from a local guy at the rate he wants.
2. Currently I am using bittrex for most of my trading but yobit, poloniex, c-cex are few other exchanges where I occasionally trade.
3. I don't try to calculate my profit in terms of fiat, I will just convert all my alts if its price will increase in terms of bitcoin. I can hold bitcoin for long time and as bitcoin price will always tend to go upward, I can be assure that I will not loss anything in terms of fiat by doing so.
4. Mostly I sell my bitcoin to local guys at price of my choice which is currently 10% over market rate. Sometime if I am in hurry, I use my bitcoin debit card to cashout from local ATM.

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Answer 1 - Localbitcoins Best website to buy bitcoins From your own country payment methods
Answer 2 - Bluetrade ,
Answer 3 - No i do not convert back to btc , I reinvest my money to buy another altcoin
Answer 4 - Localbitcoins Same Method , I sell and buy bitcoins there , Many websites provides service to withdraw bitcoins into bank after KYC verification

Here i started trading bitcoins and altcoins
1. I bought bitcoins from Indonesian market bitcoins using fiat currency IDR.
2. I used the markets bitcoin.co.id and poloniex to traded bitcoins and altcoins.
3. I get the profit from trading altcoins be held on bitcoins
4. I don't converted from bitcoins to USD to withdrawal but i was converted to IDR to withdrawal.

Well i just paid the fees trading altcoins on poloniex and fees withdrawal of fiat currency because of becomed makers order on bitcoin.co.id i was free of fees trading.

Everyone trades using the same system the quarters up headquarters down. It's been used since economics has been around in the early 1930s when this system was first introduced. This is not a complicated thing this is not something special Bitcoin is considered a commodity and its price used to quarter up quarter down Theory.

I buy bitcoins from the coinbase which is my favourite wallet but not the favourite exchange by the way. I will start taking profits from this step only by grabbing the bitcoin at lowest possible prices. Then I go to livecoin and transfer funds over there. If I want to buy altcoins then I will buy ether first from the MEW and will transfer that, if I want to trade against the ether. Whichever is beneficial. Rest I follow the sane strategy for day trading that is swing type trades. Once I get the profits I never store my altcoins I immediately convert them back to btc and back to my wallet. No this does not eat your profit at all. That's his everything works for me.

nothing special !!
i think you just have to make sure that the site or the exchange you are using for it is confident or not.
just make your security enough to secure you account and start with a small amount gain some of experience and understand the whole idea of it and after that make it with your own senses and check the up and down of the coins from different sites and review the the altcoin section of this forum.
i think this will help alot.

1. local exchanges
2. bitcoin.co.id for fiat exchanges and bittrex, poloniex for altcoins exchanges
3. I have a special capital to trading, if a profit over from my capital trading, I usually converted to fiat.
4. I convert from bitcoin to IDR (my local currency)

1. I buy BTC from local exchanges that allow instant buying using net banking directly.
2. Prominently Bittrex is my favourite due to its speed and reliability. Others are HitBTC, Cryptopia, Nova and sometimes Livecoin.
3. I never invest my bought BTC in altcoins, I always use earned BTC for altcoin trading so for me Altcoin/BTC is determining market, not Altcoin/USD. I never sell any coin lower than what I bought in BTC as that defeat my purpose of trading if I get negative return.
4. According to need I withdraw BTC to bank quite often but in local currency not USD again using local exchange as stated above.

The fees scenario depends upon how big you investing. If you are investing $40-50 ($10-20 in fees is horrible) but if you are large trader and work in grands then fees is least of concerning matter.

Stay away from Pump and Dump groups, OP. People benefiting from pump and dump schemes are usually only the higher-up members or the channel owner itself.

Anyway, you already got a lot of answers for your questions 1-4, so let's talk about the fees instead. You can save a bit of cash by buying bitcoin patiently, waiting for dips before buying(not saying it's always the right move, though). The fees you should only look out for in my opinion is the deposit and withdraw fees, as the exchange trade fees are usually so low that it's quite irrelevant in my opinion. Limit your withdrawals by probably once a week instead of daily to lessen the withdrawal/deposit fees.

- I usually go with Localbitcoins because I can choose the trader with payment method which is convenient for me.


- I am current using Localbitcoins, Yobit and Changelly.


- I don't trade in Altcoins but I altcoins for the long term so I have cold storage of altcoins and never sold any of them yet.


- Again, I use Localbitcoins when I need immediate cash and the reason is same as #1 I can choose the payment method which is convenient for me. Exchanges have the bank as the only payment option which is not always convenient for me.

1. Where do you buy your bitcoin from
I bought it from friends that I trust and value it was not too expensive compared with the market. Bitcoin will be transformed from those of you that I trust to straight for trade page.
2. What exchanges do you use
I trade it in Poloniex and bittrex. two website that I most satisfied
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
When i buy alt coins and profit, I continue to convert it into BTC. If altcoin I buy is not profitable,i will keep it until it would have a profit I will sell out.
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.
only if I need money to buy something. I will sell Bitcoin for those of you at the beginning that I bought

From Bitonic.nl, a well-known website in the Dutch crypto-community.


Bittrex nowadays. Used to be Cryptsy and BTC-e a while back. Then switched entirely to BTC-e, and eventually moved my activities to Bittrex.


I do. I'd rather see an increase in value relative to Bitcoin than a higher value in $$$. However, in an ideal scenario, both values go up.


No, I withdraw via Bitonic.nl. I send them Bitcoins and they pay out the corresponding value in fiat on my bank account. In my case, Bitonic is both an entry and exit point in my trades.
And yes, the fees are pretty severe nowadays. Bittrex deducts 0,001 BTC per transaction, that's $4,4 nowadays ... !

Everyone trades by doing buy low sell high and most of the traders know that and even the newbies are doing that. They most trade altcoins because they know that there is a high potential in altcoin rather than bitcoin because in bitcoin it is a slow process of getting profit but in altcoins anytime you can make profit because there is a lot of altcoins to choose.

1. I buy bitcoin from local exchanges, you can buy too from yours or try the localbitcoins.com then transfer them to my own wallet or straight to my exchanges I use:
2. What are they? Bittrex, c-cex, poloniex.
3. I trade in the BTC market. So i guess, no need to convert already.
4. No conversion to US$ to withdraw. I just use my bitcoin wallet and my local exchanges to convert. Or you can send the withdrawn money straight to your local exchange. This is more safe than withdrawing with fiat money. why? some altcoin exchanges do'nt allow fiat withdrawing and you find your money  stuck in their system long time before they act on your support ticket.

1. I bought bitcoin from www.vipbitcoin.co.id
2. I started the altcoin trade at www.bittrex.com
3. Yes, I redeemed my altcoin profit to bitcoin. If the bitcoin price is low I hold bitcoin until bitcoin price returns good.

Indeed the fee is now very large, but not compared to the benefits I received.

I buy bitcoin from my friend and from exchange platfrom like bittrex or cryptopia using my alt coin.also sometimes bought from localbitcoin and paxful.

I am using a lot of exchange platfrom.among them Bittrex, poloniex , cryptopia , liqui is largly umm using.all of them are safe and sequre to me.

I buy alt coin when the price is down from the ICO price.its a most profitable way for buy bitcoin.

Now i am only withdrawing my BTC by converting them into ETH, I like to hold ETH.

There are a lot of exchanger to Trading. But I use some popular exchanger such as Bittrex, Liqui, Cryptopia, Nova etc. I always buy Bitcoin on my local market. I always buy Altcoin on ICO times and when Altcoin dumps. Usually, I trade with Bitcoin and Ethereum. I don't convert Bitcoin to USD. But when I need money in my local currency I sell Bitcoin on my local market.

1. I don't buy bitcoin, i earn it

2. Poloniex and bittrex only as of now

3. i haven't done trading altcoin to altcoin, i always do altcoin to btc or vice versa so yes i inevitably converting it to btc but with a higher amount because i profited right?

4.No i don't convert my btc to some local currency when withdrawing. if i'm gonna sell it for my local currency is usually wait for a pump

it depends on what service you use but in my case what i use is kinda cheap and the miner fees are just $1

That’s a smart move if you never buy bitcoins rather earn them. Earning bitcoins is far safer than buying them at high rates. People usually offer to sell off their bitcoins when prices are high. By earning bitcoins, you are never in loss if the prices are even dumping. I am also practicing this strategy.

1. Where do you buy your bitcoin from?
  -  I don't buy bitcoin instead I'm buying altcoins on trading then sometimes I bought coins in the ICO project campaign.
2. What exchanges do you use?
  -  I usually used bittrex.com, etherdelta, poloniex, hitbtc, and novaexchange.
3. When you buy alt coins and profit, do you convert back to btc?
  -  Yes, that's what most traders do.
4. doesn't that defeat your alt coin profit?
  -  of course not.
5. Do you convert from bitcoin to usd to withdraw?
  -  I converted my Bitcoin to my currency here in my country through merchant we had it in here who accepted bitcoin as payment then
     encashing it through remittances.

In addition to that, many of the traders here they're not truly sharing their real strategy, it is a simple strategy and basic only which they tell us here like buy at low then sell at high, it is something like that.

This is my experience of learning trading, i try to answer your question :
1. I don't buy bitcoin because i get bitcoin from join bounty campaign the give reward altcoin and i change to bitcoin from their market.
2. I use Bittrex because i think there a many coin can we choose.
3. Analysis of the coins to be purchased where to buy coins when the price graph falls after it returns to sell at a price higher than the purchase price.
4. If I think I've got enough profit, of course, some of it will I pull into cash by using local exchanger and pull it directly to the local bank

But i still to learn more because i just get profit a liittle more $15 so I have not drawn it to a local bank  ;D

as of now i plan to join in the trading industry if i have enough coins, why people does everyone trade it because trading is the good investment, capital profit almost become double earnings, as i know trading is a long term investment but you can get a good return profit with you patience and skill as trader.

If anyone is smart and you using a large platform the issues of fees as a result of transferring will be minimum and also when you sell and make profit, you care less about the fees. Imagine putting an amount in trade and you make 100% profit with the hour, then there is no point in being concerned about the fees and this issue of fees always discourage people from moving funds out of exchange sites but one should not be concerned with that better lose some than all.

Trading is not a long term investment because long term investment is just investment alone where trading is not like that because you are trading different coins frequently and you are the one who will decide of how much profit do you want for your capital. It needs skill and patience before you can make money in trading while investment just need patience alone.

Generally i buy bitcoins in exchanges and on the bitcoin app we use in my country.
I use many exchanges ,but mosty bittrex and polo.
Yes , i use to trade all in bitcoins and after selling go back in btc.
No ,i don't convert i use bitcoins to withdraw .

I buy btc from the exchange available in our country. There are couple of them who are reputed and provide good service. So generally I buy from them and hold it. In case if my friends require I sell it to them or else sell them back to the exchange once the price rises. I do not convert btc to altcoin.  From profit earned I but back some altcoins.

He means on converting your bitcoin to fiat for you to withdraw directly either on your bank or any other options. We  do really need to convert it to fiat if we do tend to cash out it.Yes, we can purchase bitcoins on exchangers and we do select on the exchange which would really suits us. Bittrex,Poloniex are the common place on where people do usually buy bitcoin and also using Localbitcoins.

actually trading the theory is very easy, ie buy and wait for high prices and sell.
1. we can buy bitcoin at bittrex / poloniex and other bitcoin exchange market.
2. I use the exchange of USD to BTC and more
3. of course yes i will convert again to bitcoin because bitcoin price can be very expensive
4. I will exchange bitcoin to USD when I just need it, otherwise I still let it in bitcoin form.

We choose a coin that undergoes a price reduction for a certain percentage. Then buy a few coins with large volumes. After that, you just sell at a decent price. And you are provided with earnings.

There is a lot of on going campaigns that is running today, You can apply and work to them and its all about advertising so they are looking for users here in this forum that has constructive post and good grammar. So i suggest that you should reach your rank as a junior member first then apply to any campaign and there you can earn for your capital to start trading.

Depends the cycle of them, if you choose altcoins in bearish trend and want it comeback to old high price, maybe you are wrong. Example: Stellar, Digibyte, Ripple, Siacoin ... are altcoin like your said, they are altcoin from highest price drop down until today and still not recovery. ;D