Bitcoin Forum

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

I think it's all because Bitcoin is the currency of all cryptocurrency world and therefore all trades are on bitcoin

I think that in the future this will be, because it is logical. Why absolutely all projects depend on bitcoin? This is not right

but in this way if bitcoin explodes, all will dies... there is no point on keep them... eth is also exchanged in dollar, why not the others?

Nice topic, because I have been thinking about this for a while, now I am at the right place where I will see answer to my question

Havent you tried to check ETH? and there are several altcoins in the market which can be exchange directly with usd directly without the need of conversion to btc.If we do talk about this,i do agree on some points that most of them does really depend on bitcoins value where they should be exchange or converted to bitcoin first.We are seeing this for how many years and this do really signifies that bitcoin is always on the top yet its always being considered for it to be directly converted to usd and most altcoins in the market.

What do you mean? Anyway,altcoin exchanged for bitcoin over dollar for due to profits and gains that will bounce back to investors maainly because there is changes of values everyday. Take ETH as an example, if the value of ETH with btc goes up,your altcoins might doubled its rate unlike USD it becomes fixed price and it is depending on the economy or stocks with less profits. So altcoin is designated for BTC and not for USD. However,BTC has the value of USD wherein the fiat is concerned.

Because BTC is the common currency of the Crypto market. BTC is a trusted currency, other altcoin they do not have the ability to ensure consumer confidence so they borrowed BTC to convert to USD.

Bitcoin is the flagship of the cryptosphere, something like gold. Bitcoin is the father of all crypto currency. Bitcoin is the most famous currency and recognizable. Therefore, all alternative currencies follow the flagship of this sphere. And so there will be until the new flagship appears, for example by capitalization.

It's wrong. The true story is the majority of exchange sites can't provide the dollar pair because it needs more requirement on the law. Said that the majority of exchange sites which already offered fiat pair had done so many law requirements with the lawyer.
That's why a lot of exchange sites can't provide fiat pair and use bitcoin as the easiest pair.

Bitcoin is the main cryptocurrency and before you can buy those altcoins you have to exchange dollar --> bitcoin first to proceed buying an altcoin.

Having tons of alt is like having bitcoin? How can it be? bitcoin is bitcoin while altcoins are altcoins no matter how many type of alts you are holding.

If you think this concern shall be prioritized then ask your favorite exchange to address this.

that was the reason why it calls "Crypto" currency. if till right now only bitcoin and altcoin didn't exist so im sure the bitcoin price would never the price like this with big interest like now.

the point of of bitcoin-alts are because the USD is a currency that still regulated and its Centralized. meanwhile the cryptocurrency is to support the decentralized

I agree with you that altcoin is too dependent on bitcoin when there is a consensus that Bitcoin has a fatal and irreparable weakness. We have seen the great failure: Mt.Gox which is the biggest disaster ever to hit Bitcoin because it has eliminated nearly 4% of Bitcoin's limited total supply (then $ 450 million);

because BTC is already considered a crypto currency, so transactions in crypto must use Bitcoin (although some receive payment using ETH).

Obviously altcoin is an alternative coin from Bitcoin and Bitcoin is the parent of all coins that exist for the problem of his pair, thus automatic prices will be stable to follow the flow from BItcoin, but there are also altcoins that can be made in dollars but still Bitcoin is the one who as the mother of the coin.

It is understandable that all altcoins are traded on BTCs and ETHs because the market currently has two cryptos that have the highest market rates, so the prices for all the remaining altcoins will depend on the two cryptos. You can exchange from BTC to USDT. The future of this market BTC will dominate and become the most significant growth crypto and the largest exchange rate in the market.

Bitcoin is the first truly cryptocurrency that was not made by any government first decentralized digital currency. Altcoin came as a result of bitcoin and must altcoin in the beginning were forking bitcoin code. Now many of them are functioning without bitcoin but they are still value against bitcoin.

I think it is connected with the same, why many goods, currencies, stocks and so on on real exchanges can be bought for dollars. Because the dollar is the system-forming currency of our humanity. A bitcoin is the system-forming crypto currency of the entire crypto ecosystem.

In my opinion, BTC has more value other than any altcoin, perhaps most of the exchanger does not accept altcoin coz it has no value at all and it its so risky for them to accept altcoin that's why most of the altcoins depend on bitcoin for the easy way to exchange them.

You can buy an altcoin with dollars.
Go to the dollar market.

in the cryptocurrency market Bitcoin is common currency , but some exchange at this moment they accept transactions directly into dollar or some other local fiat money , let say Ethereum Litecoin Etc.

For my opinion, all altcoins is usually going to bitcoin if the coin holder wont use SPECIFICALLY use some in particular project. My reason for buyng bitcoin using altcoins is to convert it into cash. My online wallet can do that. that what I see reason altcoins is to convert it to btc so i could convert into cash

I think now many exchange that offer pair altcoin with USDT for trading like Bitfinex, Huobi and gate.io,  pair altcoins with USDT is more easy to trade because we make analysis in 1 coin only, and when all crypto on downtrend we can move all asset to USDT as soon as possible to keep the profit.

Becacuse there are only a few altcoins which you can exchange to FIAT. Most altcoins are still heavily dependent on their corresponding BTC pairs.

The bitcoin will be upgraded from 2.0 to 9.0 like the Windows operating system. But the odds of a bitcoin being replaced are as slim as the money being replaced in an open market. Because Bitcoin has a deep rooted brand, protocol and technology. As bitcoin defines its role as a government, it is difficult for the media to remove the bitcoin from the masses ' sight. Bitcoin will create an unlimited potential market different from gold.

Altcoins are generally exchanged for BTC because it allows exchanges to get around regulations related to fiat currencies. Using BTC, governments don’t have jurisdiction like they would if they used fiat. It’s also just a good thing in the scope of crypto. Using bitcoin supports the whole movement in my opinion.

I believe exchange through bitcoin which has significant symbolic meaning. It is meaningful itself by acknowledging bitcoin as a form of currency in cryptoworld

Because traders always want to take advantagenthe volatility of bitcoin, yes it may decrease in value but traders are confident that it will increase more than it decrease and by holding bitcoin it will grow a significant amount. And if we're just sticking in fiat we can't experience how crypto currency really work.

On some exchanges, you can exchange any altcoin or bitcoin for dollars.  True, this is not so popular, because many people prefer to keep their investments in the crypto currency.  To date, this is more promising than storing money in fiat.

If you hold the U.S. dollar, it is just a way to preserve the value. It will not bring profits. If you hold the bit, then there is a big chance that you can bring huge profits. Therefore, it is not recommended to change into U.S. dollars.

Yup you are right, if the price of alts keep on bring paired with bitcoin then the movement of bitcoin will affect alts, that's why we need more usd pairing for each alts so each alts price will based on their own value, the price will also increase or decrease based on the project development. But there's also advantages of the btc pairing as you can earn more if the price of bitcoin increase while the coin hold its ground against bitcoin.

That's because governments are not allowed to trade bitcoin directly in cash. ;D

Because from a technical point of view, it is not profitable for exchanges to provide an exchange for the dollar of many cheap altcoins

I think it is easier to exchange to BTC, also it's price almost always correlates to BTC. You can see in a coin price graphs, that almost every time the Bitcoin price changes - the altcoin changes in the same direction.

The main factor of the exchange of altcoin to btc is in exchange for USD because BTC is commonly used many that do not meet altcoin work, BTC can be used as a means of payment for each country that allows it, I would rather redeem all the benefits of altcoin for BTC as an investment and sometime will become more useful as I continue to gather because BTC will be great in the future.

ALtcoins are not always depend on bitcoin price you can see october and november 2107 a almost all altcoins price were declined while bitcoin massive bull run happened . If you really concern about stable value then you can look into USDT , DAI are which value always revolve around 1$ may be few cents difference you get it based on market fluctuation.

Cryptcurrency has a form of business rules even if cryptocurrency is decentralized, and bitcoin is likely the king of all cryptocurrencies, so meaning all coins are under bitcoin most especially the altcoin. And every final transactions by the lower groups of coins like altcoin are passed through the approval of bitcoin, because you cannot change directly your altcoins into dollar but instead you change it into bitcoin and finally bitcoin into dollar.

Because the cryptocurrency was created so that ordinary people could fully control their funds and not depend on the banking system and the state. As the dollar is the basic unit of exchange for fiat money, Bitcoin is the main unit of exchange for altcoins. The point of cryptocurrency is not that it can be bought for fiat, but that you can use it as a means of payment anywhere in the world and you do not need to convert it to another currency.

Well you have an option of Ethereum now. They can also be exchanged to USD since it became mainstream.

I do think that should stay that way for a better bitcoin also.
We should go to that conversion for bitcoin to be more improved. Popularity, bitcoin is the more known and it will be the key player for all the crypto currencies to be known at the whole world.

Nope why they compromise with there fee, now how they will take a fee for every trade like that for ALT to USD also they will collect some fee that's it. but updating this feature is difficult for exchanging sites that's why no exchanges are allowing. I think very soon some new exchanges may implement this feature.

We all know the Bitcoin is the first cryptocurrency. It has developed a lot and it's price has also increased tremendously over the years. Most of the crypto traders use BTC which is the reason why BTC is used as  a pair for the Altcoins. It also depends on the exchanges whether they want to use BTC or USD as a pair to altcoin. There aer many exchanges which have USD pair markets and other Altcoins like ETH and BCH are also used as pairs. The point that altcoins' price is related to BTC is true but then if the price will during BTC's depreciation then it will also increase when BTC goes high.

I asked me this question alot. And i think i know the answer. I think its quite to heavy for a exchange to have a bank account where you can transfer money on, and also a fiat currency system which will be available to handle all the trades. Because all those trades would be just digital, and handle all the digital fiat money transaction would be not safe enough. When you sending the cryptocurrencies, you always receive it on a adress. So i think in future we can not await usd pairs.

So that's the rules of the cryptocurrency market.
People usually use BTC as a unit of account, not dollars.

The reason is Bitcoin is the sound money. Sound money is something which is limited in supply and easily transferrable so thus its better than USD. The goal of every trader is to max bitcoin . The reason is it’s the most safe cryptocurrency bcz of the network effect that it produces. Thus, the trader uses altcoin to increase their positions and convert them into BTC and live like a king thereafter.

Well lets say like USD the dollers it is the known, the main currency of paper money and to curios it is not possible because altcoin it is e-currency that is use by android or apple cellphones and the all known paper money the US dollar is just used in paying bills and paying groceries. Even other payment methods in paying bills(payed in dollar or paper money) can be payed by a electronic devises like cellphones.

In short:

1. It is because US is different
2. Bitcoin is a cryptocuurency

Just think about that can be possible in the future but really for BTC (main exchange) it is the king like in paper money it is US Dollars king (main exchange).

According to my knowledge. altcoin is usually traded with btc or ete pairs because these two coin numbers are the # 1. altcoin relies on the price of bitcoin and ETH to determine its price. So I think the reason is like that

appealing use of release from the drawing of market and news from developer,
as investors to focus within the field of work within the business on crypto finance.
to collects and returns with the nominal profit on consequence as managing plan with the investment projects.

It's not dollar, it's tether :) And i think that's because BTC is the most trusted coin in the market, people use BTC and ETH to participate in ICO so when the coin is listed on exchanges, they have to follow BTC/ETH pair :)

because we know that bitcoin is the king of all coins and its throne is higher than others and its popularity is very famous, so if altcoin is exchanged with bitcoin then it is very useful and it can be advantageous for us to know the price of bitcoin now is slowly starting to increase.

Bitcoin is like for altcoins as usd is for other currencies. It is most popular and stable and people have most faith in it. Same goes for bitcoin most value in circulation, most widely known, and most stable because of US economy. And another reason is that most of the coins are not trustworthy therefore exchanges don't pay heed to them. This does cause extra wastage of fees and effort.

This is avery good question never thought of that but i think most traders like to trade altcoins with btc, eth etc,also there are  some popular altcoins that trade against currencies.

This is an interesting subject, and I think that one of the biggest problems in the cryptocurrency world is the fact that every crypto is so much dependent to daddy bitcoin!

Although some exchanges offer fiat pairs for alts too, but it's very limited and mostly for major alts.

I wish for a day when alts are not so dependent to bitcoin, but since it's the way it has always been, I dunno how would that happen.

There are coins and tokens that can trade for dollars. Just look for a right exchange. Not all of the altcoins can, but there are altcoins that can. Bancor (BNT) actually can be trade for a dollars.

To answer your first question - exchanging altcoin to btc (and vice versa) is easier for exchnages to process because they don't need to deal with fiat money. "Having tons of altcoin is just like having bitcoin," it is not exact. Crypto market as general shows positive correlation to Bitcoin, but single coins tend to behave differently (pumps before forks, dumps after news etc.).

Who tell you that altcoins are not bought for dollars. It seeing you have not been trade on coinbase and some other big exchange? Just the like eur and gpb move in direct proposion to usd is the same thing we are witnessing now because we are still new here and the market of altcoins is going to be behaving like that of bitcoin because the whole structure of blockchain technology and cryptocurrencies are build on bitcoin and that is the reason why altcoins seen not to be exchange directly with dollars.

Because dollar doesnt fluctuate,bitcoin and altcoins does,that is why you shouldnt be using any of these fiat currencies as they are controlled by the banks/governments.Cryptocurrencies are decentralized and it is the future currencies of our generation which is why those adopted these currencies are going to be wealthy in the future.

Most of the trading exchanges have other trading pairs as well other than bitcoin so you need to check the other exchanges to get ETH or some other reputed crypto currencies.But it is an crypto currencies if you want to sell it for direct fiat then the demand will get too less for that coin that is why people are using bitcoin for trading fiat and other crypto currencies to crypto to crypto trading.

On some exchanges you do find altcoins exchanged directly for USDT, I know that Binance and Bittrex offer this function, though not for every single cryptocurrency of course due to the volume, but because the volume would be so low for most altcoins, this is only reserved for altcoins with a high daily trade volums, otherwise there would be extreme market manipulation for these coins. That's why you find USDT/ETH and USDT/EOS trade pairs, but not for smaller coins.

I don't deal very much with altcoins but as I know it is possible to convert at least Ethereum into dollars and euro through cex.io service. I just know about such opportunity. Try it, maybe it will be helpful.

I don't think the idea will be a good thing, first of all the reason behind bitcoin being the main trading of altcoins is because it is the most common and the widely adapted cryptocurrency in the world. Now imagine if you need to buy altcoins where do you buy place your money for it to go online or in internet? What I'm saying is that bitcoin is the easiest way for your money to be able to go online so it is commonly be used for trading.

Most of us who are involved in this market continue to believe in the great potential of bitcoin in the medium term, and in fact, one of the most important motivations that lead to build the idea of bitcoin was to propose a functional alternative to the current centralized economic system, based mainly in the dollar.

Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.

Yes, that will make sense because even though there is always a dollar option in every exchanges but still most people do not exchange their bitcoin into dollar but still its an option, and in our case that we are not craving for dollars because here in our place we normally used coins.ph and only ethereum,bitcoin and peso are available so we prefer to exchange bitcoin or ethereum instead of dollars.

Of course, there are several altcoins that can be exchanged for dollars at once, but 99 percent of all altcoins are traded in pairs with Bitcoin or Ethereum.

That you sold altcoin for dollars, it is necessary that someone bought this altcoin for dollars. But no altcoin has such authority and weight as bitcoin and eth. Bitcoin and eth in the crypto world it's like a dollar and euro in the fiat world. It is convenient for everyone and exchangers and holders of crypto.

Am confused on this. First of all, is dollar a cryptocurrency? The exchange should first go through a cryptocurrency base which is Bitcoin. Am I wrong on this?

It is not true. On vast majority of exchanges there is rate to USDT.
 I know that on OKEX you can exchange a lot of altcoins to USDT, but most people hold funds in Btc, that's why altcoins are exchanged for BtC.

Bitcoin is the leader of cryptocurrencies, and all currencies in the world can be exchanged with bitcoin. It is the universal currency of the world and the universal currency of the encryption market, and it is trustworthy.

I have also noticed this on exchanges. That not withstanding, bitcoin is the standard. So every altcoin, whether good or sh*t is measured against btc.

Our society have adapted to use Bitcoin more than any of the newer Altcoins. We are better equipped to convert Bitcoin to dollars than Altcoins. It's a lot easier to convert it BTC and then to USD if that is your goal. There are also many Altcoins that can be exchanged for BTC.

My answer is always bitcoin will always beat all. this is due to, “because Bitcoin is king/queen, and the other coins are at best following it.

It is hard to come up with a fundamental algo with which to price coins, so coin prices just follow Bitcoin as a sort of gold standard (“the Bitcoin Standard”).

It is the number one coin, and thus it is the coin that decides the market price in general.

If there is another standard way of changing ALTs to other currencies example to FIAT. it would much less affected to the price of BTC.

If you are a holder of alt coins, my advise to you is before you convert your coins in to cash you must exchanged it to bitcoin because bitcoin now has the higher value in the market and you will earn much profit.

They are interesting with the volatility of the bitcoin and as long as the bitcoin can be priced in the dollar value and then it looks the same when you are converting your altcoin to the bitcoin and it's similar with you are converting your money to the bitcoin. That's my point about that and there was no difference.

There are few reasons like the volatility of alts and btc, as well as the commissions issue, for many alts the commission would be huge if you were intending to get dollars directly.

If you want to make money on the virtual market you have to make a change between these currencies. The dollar will be the result of the money you have. We are investing in Bitcoine to increase the amount of this concrete currency at our disposal.

Dollar is a fiat currency and will need the support of the government before it can make it legal and not just a form of virtual currency it will be.

I think now many trade that offer match altcoin with USDT for exchanging like Bitfinex, Huobi and gate.io, combine altcoins with USDT is all the more simple to exchange since we influence investigation in 1 to coin just, and when all crypto on downtrend we can move all advantage for USDT as quickly as time permits to keep the benefit.