How does everyone trade?

[lokkom]

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

[johanesrobin]

I trade in Bittrex, I choose a coin that is experiencing a 20% price reduction. You can buy several coins that have large volumes. After that if you already buy then you just do sell at a decent price.
The profits can be redeemed to Fiat. up to you 

[lokkom]

Thanks but I'm looking to answer those questions specificly.

[BCMB]

I mostly use QuadrigaCX for selling Bitcoin, but depending on if I just need some quickly I might buy from Coinbase simply because of the easiness factor. For trading alts I use Bittrex.

There definitely can be a lot of fees involved, and recently the transfer fees have been higher than in the past (dollars as opposed to cents). Buying from an actual exchange (vs Coinbase or an ATM) will cut down on some of the fees as well.

[bit-freedom]

Here’s my answers to your questions.

1.   Usually, I buy from coinbase or localbitcoin
2.   Poloniex, Bittrex and Liqui
3.   Yes I convert alt coins to BTC. I don’t think it defeat my alt coins profit since I gain more BTC when selling alt coins.
4.   Same thing, I withdraw using coinbase or localbitcoin.

[Pursuer]

1. Where do you buy your bitcoin from

I have bought from bitfinex but mostly I use localbitcoins to buy with local currency directly.

2. What exchanges do you use

bitfinex mostly but since I am more of a altcoin trader I am on bittrex most of the times.

3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?

I don't buy altcoins with fiat to want to "convert back to bitcoin". I buy they with bitcoin and sell them for bitcoin too. this means for example I invest 1BTC and get 2BTC out, so automatically my profit is saved in bitcoin form and there is nothing called "bitcoin is low", bitcoin is always rising at all times. even after the recent correction price is still 280% higher than the start of this year! and will be higher next year and next year, and so on.

4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

no, I am a hodler so I hodl bitcoin for long term. sometimes I sell some small amounts if I need money or if I want to get something out to keep myself happy with fiat profit. but it rarely happens and it is always a small amount.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

the fees, no matter how many they are or whatever, should be much lower than your profit. if they are not that means you are doing something wrong and maybe trading is not meant for you.

[TheCoinFinder]

Everybody has their own strategy to trade with cryptocurrencies. I use localbitcoins to buy and exchange crytocurrencies.
I usually trade some major altcoins but i have kept bitcoin as my primary digital currency.

[michkima]

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. I buy it from a local exchange where it is convenient to buy and sell. I also use localbitcoins from time to time.
2. I use poloniex, bittrex, yobit, kraken, etc. depends on where the altcoin I am looking at is cheaper or more expensive
3. Uhh, you can't profit unless you convert it back to BTC. :/
4. Uhh, you cannot withdraw your money if it is not fiat. You cannot cash out bitcoins as a physical bitcoin. :/

Fees are fees, you have to deal with it. That is why if you are trading you need to take those into account.

[janedt]

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. I buy some bitcoins from my local exchanger and i also earn it some from services.
2. I usually use bittrex, hitbtc, poloneix and livecoin. It's depend on what altcoin i want to trade because some exchanges not provide that altcoin.
3. Yes, i always convert it back to bitcoin and withdrawal it into my wallet. Actually i always trading from altcoin to btc.
4. No, just withdraw bitcoin and i convert it into fiat with local exchanger.

[n4poleon]

I used to buy bitcoin last year when it is about $500-$600. Now, I'm not anymore. I may still if I have to. In my case, I always find to make bitcoin either via trading or services hence not into buying. I used to trade manily at Polo, but I'm at bittrex now. However, I trade everywhere for arbing if there's a chance. I only convert to my local currency when I needed it.

[popie]

I'm very new to the crypto market. I started using bittrex and it seems like a good and easy way to go.

[zulkarnaen]

So far I only trade altcoin in bittrex, although not every trading transaction i get profit, but over time i have been able to buy electronic goods from my earnings through altcoin trading in bittrex.

[okissabam]

To answer some of your questions, I buy bitcoin through a local exchanger online then from there transferred it to Bittrex, that's the only exchange site I am currently trusting though I have Poloniex as well. At first when I gain profit from the altcoins I have traded I usually withdraw my capital and leave the profit behind and hold them for a long long time, but now I just hold most of my coins and don't convert them not unless if I really really need the money. And yes, there are a lot of fees every time you make a transaction so it's already expected and that's the reason why I don't withdraw yet the coins.

[lokkom]

Okay can anyone answer this important question.

Say you bought 1 Bitcoin at $4000. Then you use that bitcoin to buy a alt coin at $5 each. So $4000 divided by $5 is 800. Which means I will have 800 alt coins. Then let's say 6 months later 1 bitcoin is $8000, and say the alt coin is now $6. Only a dollar increase. I go to convert the alt coin to bitcoin, won't I lose? Even though now alt coin is $6.

Because I have 800 alt coins worth $6 now. When you convert it back to bitcoins it is only $4800. Which is not even half a bitcoin. Which means I went from 1 bitcoin to almost half.

So investing in alt coins even if you profit is no good because bitcoin value is going up.

Or is my thinking and logic faulty?

[BCMB]

Okay can anyone answer this important question.

Say you bought 1 Bitcoin at $4000. Then you use that bitcoin to buy a alt coin at $5 each. So $4000 divided by $5 is 800. Which means I will have 800 alt coins. Then let's say 6 months later 1 bitcoin is $8000, and say the alt coin is now $6. Only a dollar increase. I go to convert the alt coin to bitcoin, won't I lose? Even though now alt coin is $6.

Because I have 800 alt coins worth $6 now. When you convert it back to bitcoins it is only $4800. Which is not even half a bitcoin. Which means I went from 1 bitcoin to almost half.

So investing in alt coins even if you profit is no good because bitcoin value is going up.

Or is my thinking and logic faulty?

You're making a lot of assumptions, but yes, in your example you would have been better off keeping your money in Bitcoin. You're assuming that Bitcoin is going to reach $8000 (double) and that the Altcoin is going to only go up $1 each. The altcoin could just as easily double as well. You have no way to know for sure. Thats why  speculation isn't too far off from gambling.

[entrepmind23]

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. I am getting my bitcoin from various services that I work with like signature campaign, social media campaign and other sources. I don't buy bitcoin since it is pretty expensive when I use my fiat money so better work and have bitcoin as form of salary.
2. I use Bittrex to trade now. I use Poloniex before but there are some issues there that's why I transferred to Bittrex.
3. Yes I convert it back to BTC but I am not worried if the price of bitcoin is high or low since I just hold my BTC and not convert it to USD. Bitcoin is still going up as always so even if there is a correction in its price, I don't mind it since I believe it will recover and then go up again.
4. Sometimes, I convert some of my BTC because of some urgent needs or I just wanted to taste my profits but the amount is just minimal.

[cpfreeplz]

I just altcoin trade so I don't have to worry about all of that KYC bs and have to claim all of these little things on my taxes. What a mess that would be.

[mobnepal]

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

1. No any bitcoin trading platform accept bank deposits from my country so I have to buy bitcoin from a local guy at the rate he wants.
2. Currently I am using bittrex for most of my trading but yobit, poloniex, c-cex are few other exchanges where I occasionally trade.
3. I don't try to calculate my profit in terms of fiat, I will just convert all my alts if its price will increase in terms of bitcoin. I can hold bitcoin for long time and as bitcoin price will always tend to go upward, I can be assure that I will not loss anything in terms of fiat by doing so.
4. Mostly I sell my bitcoin to local guys at price of my choice which is currently 10% over market rate. Sometime if I am in hurry, I use my bitcoin debit card to cashout from local ATM.

[newinbtc]

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Answer 1 - Localbitcoins Best website to buy bitcoins From your own country payment methods
Answer 2 - Bluetrade ,
Answer 3 - No i do not convert back to btc , I reinvest my money to buy another altcoin
Answer 4 - Localbitcoins Same Method , I sell and buy bitcoins there , Many websites provides service to withdraw bitcoins into bank after KYC verification

[gribble]

To start,


1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.


Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

Here i started trading bitcoins and altcoins
1. I bought bitcoins from Indonesian market bitcoins using fiat currency IDR.
2. I used the markets bitcoin.co.id and poloniex to traded bitcoins and altcoins.
3. I get the profit from trading altcoins be held on bitcoins
4. I don't converted from bitcoins to USD to withdrawal but i was converted to IDR to withdrawal.

Well i just paid the fees trading altcoins on poloniex and fees withdrawal of fiat currency because of becomed makers order on bitcoin.co.id i was free of fees trading.