So I have seen Coinbase is the main "source" for buying/selling BTC, but I was wondering if anyone has used the method of converting bitcoin to another currency when it reaches a high point, then converting it back to BTC when it is low enough.
If so, what wallet(s), exchanges, etc. are you using? And more specifically, what crypto do you recommend converting BTC to, in this situation?
Any help is appreciated!
sounds easy but if you are in real trading this really hard to execute which some time end up selling low buying high  . for you other question if you can convert btc to other altcoins and reconvert again if you saw you are already gaining profit. this is what we are Actually doing when we are trading in crypto currency we buy altcoins using btc and sold again to btc if we realized profit. Here I agree with you. It is very hard to do. Moreover, sometimes I would sya it is impossible to find lows and tops. Yep, this is just a general rule and not a strategy to follow |
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trade, because production is beneficial only in case when you have a lot of money or have the ability to control the equipment
I think trading is better, you are right. However, you need knowledge in trading. |
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I would like to suggest you do trading, not mining any coins. Trading is a very profitable way to earn a good profit and this will increase your knowledge for the future. Mining is not easy at this moment, you can consult with a miner, they are not getting enough profits. Some miners claimed that to mine 1 Bitcoin will have cost more than 9K USD in their country, So bitcoin price should be 12K Plus. But It is now under 7K USD! So, both are good, but Mining is not good enough for this situation. Trading is good for all situations.
Mining becomes less and less profitable. The miners' awards are reduced, the equipment has become too expensive, the prices for the electricity are growing. Better trade. It depends on coins that you mine, but I agree with you. PoW I think is the past or near it. There will be no place for mining in future, IMHO |
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The biggest mistake is to believe that you are right and the market is wrong:) this one I think is the biggest disease of all newcomers.
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I think so. Buying and keeping only makes us lose money. There are times when I have accepted capital losses for selling and buying at lower prices.
That's the right money management strategy:) |
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There are right times for hodling and right times for selling, I think.
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New entrants in this market should trade with small capital to learn experience and explore the market. That's how I'm doing. I participate in and have no guidance other than myself to learn and draw experience. When I started to learn the lessons I was more confident about myself
Yes, sure - start with the minimal sums: it will help you not to lose. Do not be greedy at all - you have to learn the scheme how to trade without the losses (at least the big ones). Start with a hundred or a bit more. That's a great advice. Especially relating small amount of trading. You need to learn how to manage small capital first, and to manage your emotions that can ruin any amount if uncontrolled. |
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for beginners I suggest you learn how to become a good and right trader by reading some info in several international media that discuss cryptocurrency so that you can know the right time to buy and sell coins and can give you profits.
I would also suggest to learn tech analysis as well. This is really helpful. Moreover, it is better to create a trading system including m and r management. |
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You can be calm when the market falls or may sell using margin trading. Why not? I personally think that it is also a good idea. However, you need to analyse first, as any fall may be a part of a brief correction:)
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You and only you have any impact on you're trading decisions. The more emotional you're getting the less chance you'll finish well rewared. You did not lose money until you didn't sell with a loss.
It's funny to think that there's some people believe that crypto market is a quick rich scheme that once you enter here it will be in favor from what you desire that which make them to loss early. Yes the market is full of manipulations and if you don't know how to ride on it you'll be an empty hand otherwise become insane from your losses. Better yet be used to all these volatility and embrace every flaws of the market and you'll realize that panic won't lead us anywhere. I find this funny me too. Here you need to think a lot, to have a strategy and a system I would say that includes not only your own analysis, but also your risk and money management. Yep, this market allows you to gain XXXXXXXXs, but the risks work here the same. |
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It pretty troubling to hear people lament day in day out about how the recent market is making then incur significant lost.
Actually, i think that is total nonsensical. There is no lost without cash out during trading. You determine when to loss or make money, not the market.
Take a closer look at this:
If i held 0.1 etheruem during may 2018, when ethereum price was around 700$, it means i had 70$ as at then. But now (August) that etheruem price is at 256$, my 0.1 ether is currently worth 25.6$.
An anxious person will see this and get too scared, and so will decide to go ahead and sell his 0.1 ether on exchange for something like 24$... Obviously this person has incurred significant loss.
However, if i decide to keep my 0.1 ether during this red season and wait till green season where ethereum price shoot to 800+$, I surely will imagine myself making some profit.
Prompt:
Regardless how much of Bitcoin, Ethereum or any other Altcoin you possess, You determine when to loss money or make profit. Stop blaming the market.
Share below your opinion.
Nice explanation, but don't you think that it's a bit weird? You need to conduct your own analysis of the market first and think about where and when to stop your trades. If you are a poosition trader, you need to do this as well. When the price is negative for you for more than 100%, I don't this it is a good idea and a good strategy to follow. I think it is better to close according to your risk management and then to reopen trades once you feel that the market is going to reverse. Moreover, you can use margin trading opportunities nowaday and sell the currency pair and earn on short positions as well. |
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I think the worst thing is that traders are unable to calculate their own risks.
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I don't think there are any limits for those who want to start their investments. Everybody makes it on his own. I would say that you need to invest only the amount you can afford to lose.
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Great that Universa is participating in the Bitfinex/Ethfinex vote round. Let’s make the listing happen! I’ve voted already.
We need this spirit up thought during this voting competition to make this possible because only community power can do this and I believe this will happen when this token will take place there. Yep! We need to win to show what our community really worth |
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Universa will take time to deliver because they are building infrastructure for businesses. Those want to see quick adoption don't understand how businesses grow and evolve over the time. If you can hold for few good months then Universa can be good choice but in case of seeking quick profit then there are lot of projects to make money.
Absolutelly agree. You shouldn't expect for getting "easy money", but you can obtain good income afterwards. If you are playing like Speedy Gonzales - Universa isn't for you)) In this market, everyone wants to make a quick profit. Buy and hold strategy is already working poorly and in most cases brings only losses When you speak about new blockchain, I don't think you can think about quick profit at all... |
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Nice one, I've read it already |
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Now I'm waiting for the swap to buy more UTNs as I have ordered UTNP and UTN during the TGE
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TON is generally released only electronic passport, although had a lot to do.
Hell yeah. TON already missed a lot of milestones of their roadmaps, but people don't worry about it a lot I've seen already "TONs" of projects that missed their deadlines:) So did they failed after missind deadline? Or they are still successfull? As i noticed timing failure is just bad estimation, but not a serious problem. Sorry for interfering, I can't but agree with you! Bad time estimation is the only problem here. Anyway, Universa proceeds and has already made some significant steps. Let's wait for them to develop their project. |
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Actually, due to Universa being sort of "utility platform", it's value in the near future will be determined not so much by the platform quality itself, but by the companies using it
Finally, this is key massage of whole branch))) More users = more money. This is how blockchain works, so people should use Universa as soon as it will be released, if they want their tokens grow. And as for the Universa blockchain, we can say also that more users, more nodes=higher speed. Correct me if I'm wrong. As far as I understand, I think you are right in total |
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I wish you all the best! One day you will become a very strong and popular blockchain!
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