What is your base currency if you trade in alt-coins?

[MikeyDotCom]

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.

https://i.imgur.com/WUYUD5r.jpg
(BTC/USDT daily charts)

https://i.imgur.com/6r1Wv5O.jpg
(XRP/USDT daily charts)

https://i.imgur.com/tNeWyBS.jpg
(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

[1714122000]

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[1714122000]

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[1714122000]

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[coin_coin]

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

[MikeyDotCom]

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

Everyone has there own trading style. And, ofcourse it depends on when you bought it, but even if you invest long term, it's smart to exit the BTC if the trend goes down. You don't know for how long it will dump.

Look at the charts below. I got out of the bitcoin when it dumpt on 12 june, at $2560. Today we are at $2264. This is a dump of $300 per coin. I personly don't like to loss money.

https://i.imgur.com/ZGjMuiF.jpg

[Jerald]

I'm using it really BTC it's a quality that's really good the best to investing

[cryptomia]

Everyone has their own strategy and style when it comes to trading players. You are in need of a base currency you are familiar with or it most based on your country of residence I think...

[Lagduf]

I use bitcoin as base currency, I think that the bitcoin already accepted in the majority of the exchange site, i mean all of the exchange sites that gives the more easiest to use the bitcoin as the base pair. and bitcoin has the best volatility right now.

[hase0278]

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.


(BTC/USDT daily charts)


(XRP/USDT daily charts)


(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

My base currency when all positions are closed is btc because I often trade on btc to altcoins or altcoins to btc market, and I have used USD markets only a few times on trading so my base currency is BTC. Like you said I try to close my position when BTC/USD market is in a down trend, but not all BTC base currency pairs moves in the same direction as BTC/USD, therefore, most of BTC base currency pairs moves in the same direction as BTC/USD market.

[decoder88]

Everyone has their own strategy and style when it comes to trading players. You are in need of a base currency you are familiar with or it most based on your country of residence I think...

Yeah dude...  You're right about that..  Like me,  i have my own stategy and style on how am i going to transac or trade with other people.  You just need to familiarize with it based on your country..

[gomei]

For me, ETH is the base currency for now. If I buy ICO tokens with 10 ETH, after that I will buy 10 ETH to keep I have the fixed amount of ETH.

[mmo_online_1981]

For me, at the moment only used BTC for all exchange! In near future, i think may be ETH coin

[deddod01]

Btc is a dynamic transaction tool in my opinion, although frequent ups and downs of Btc exchange rates are common. And I am very happy for the future if the sale transaction using Btc.

[deddod01]

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

For long-term investment, Btc can be made alternative. As long as we are holding on to higher Btc values. So in my opinion I will sell Btc when its value is higher and invested in the form of something we want.

[jyotianand01]

i am using BTC as my base currency in all exchanges as ETH is very volatile, but will see in future regarding ETH after stability.

[zaphod72]

If in BTCUSD BTC is the base currency, then how the BTC is the base currency in all the pairs like SKYBTC, THETABTC, WABIBTC etc.... The rule in the markets is that the base currency stays on the left in the currency pair.s So, why BTC is always base, but with USD it is on the left and with altcoins is on the right?

[Thanasis]

For that reason we now have stable coins which maybe good for some traders but most of the traders like BTC as their base currency since they can make more profits due to the price swings of crypto prices.When trading with bitcoin in long term I like to use USDT,to make profits from the daily price swings.

[Herbert2020]

that is only your choice based on your strategy, that doesn't mean it is the right move for everyone!

the main strategy that majority of traders use (which you can verify simply by looking at volumes and comparing alt/USD versus alt/BTC volumes) is to always go back to bitcoin because bitcoin for everyone is the long term investment which they know is going to go up in long term. so what they do is that for example they invest $1000 in bitcoin (get ~0.2BTC) and then use that to trade and in the end the goal is to turn that 0.2 into 0.5 then 1 then 2,... so that in the future when bitcoin reaches mass adoption and is $1 million they already have a big stash of bitcoins by only investing $1000.

If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars,

in other words it only works if you expect the market to go down. if price rises (which is the usual case with BITCOIN price only) you will miss out and have to buy a much smaller amount with the same USD amount. like what we had this month where people were waiting around and price jumped up and now is 75% above the bottom where they sold!

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.

that is mainly because majority of people don't trade in USD, they trade in BTC which is why whenever bitcoin price is rising they start dumping their altcoins for bitcoin to go back to bitcoin market with BTC in hand. but since this is not a 100% dump the price against BTC decreases and their price against USD increases slightly.

Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD

WARNING
none of these are US dollar so all these names are WRONG. they are all Tether or USDT which is a very risky altcoin and when you go to Tether instead of fiat (USD) then you are taking an additional HUGE RISK.

[clonely]

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.


(BTC/USDT daily charts)


(XRP/USDT daily charts)


(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

According to my own assessment, always being the base Bitcoin. I'm always aiming to increase the amount of Bitcoin I have.

[Alpinat]

me myself I always use bitcoin as a base currency because I can totally match the value, I mean I can easily say if the coin or token is cheap or too expensive. I use BTC as the base currency for the first time I trade but sometimes I use dollars.

[bigcash2011]

I am more comfortable in using btc and eth as base currency because i prefer holding eth and btc than usd. Just imagine i close my trades in usd thinking that btc will go down from that point but it continues its growth and doubles in usd value i have no one to blame but if i was trading btc/eth pair i would not mind even on missing out as im happy staying in both btc and eth for long term because im sure both will grow in usd value so my strategy is very clear.

[SwiggHeart]

I usually prefer to trade in alt-coins with IDR as my base currency because this is my country currency so I can immediately know my value of assets.