Hello - I just opened an account at Livecoin. No doubt this question is low level for most but I need to ask it so I don't screw up.
I have Ethereum to transfer in for deposit from my wallet. I want to buy DGB which is paired with BTC. How does this work? Do I sell the Eth first? What should the proceeds be in so that I can then buy DGB? I sell Eth for BTC then buy DGB? Please advise. Thank you.
If your depositing ETH your first trade must be paired with ETH
So you can do:
ETH -> USD
ETH -> BTC
and then trade the USD or BTC with your desired asset.
Just make sure there are pairs between the assets your trading...
Example:
Once I had DIME and was stuck in the DIME->BTC pair, so instead I checked how many RUR I would get at market value, and then how many BTC at market value I could get with the RUR, then I made a fast trade from DIME -> RUR -> BTC instead of DIME -> BTC - I ended up making maybe 10K satoshis profit (pennies, but I got out of DIME)
BTC will have the most pairs, it is the most commonly paired asset... But some others are the currencies USD, RUR, GBP, as well as USDT (I would avoid like plague)
I think you will want to convert to BTC first.