valued vs other currencies or just...?

[donlogan]

In Forex, currencies are valued and traded in direct competition with each other.

For example, the USD's value in the Japanese Yen is not the same as in the Indian Rupee. $20 USD will buy me different amounts of values depending on the currency.

So....how does that work in the cryptocurrency world? If I buy $20 USD worth of Bitcoins...and then want to use all of those purchased Bitcoins to buy Ripple....will I end up with the same amount of Ripple (Ie. $20 USD worth of Ripple)?

Are cryptocurrencies not traded against each other in terms of valuation?

[1715070365]

1715070365

[Emoclaw]

So....how does that work in the cryptocurrency world? If I buy $20 USD worth of Bitcoins...and then want to use all of those purchased Bitcoins to buy Ripple....will I end up with the same amount of Ripple (Ie. $20 USD worth of Ripple)?

Generally yes. You will most likely have $20 in Ripple as the market price will always balance. However there might be some short-term price variations, which will allow for margin trading.

Are cryptocurrencies not traded against each other in terms of valuation?

They are.

[donlogan]

So....how does that work in the cryptocurrency world? If I buy $20 USD worth of Bitcoins...and then want to use all of those purchased Bitcoins to buy Ripple....will I end up with the same amount of Ripple (Ie. $20 USD worth of Ripple)?

Generally yes. You will most likely have $20 in Ripple as the market price will always balance. However there might be some short-term price variations, which will allow for margin trading.

Are cryptocurrencies not traded against each other in terms of valuation?

They are.

I feel like this answer contradicts itself. If cryptocurrencies are traded against each other, it doesn't make sense that buying $20 of Bitcoins and then converting that into Ripple will amount to a net equal amount.