Why Altcoins are traded with Bitcoin or Ether and not with fiat directly?

[oa17]

Hello to everyone

As the title says, Why are Altcoins traded with Bitcoin or Ether and not with fiat directly? Newbie here and needs to get some questions cleared up

 

[bamboylee]

Because we trust bitcoin and ether and not altcoins. Bitcoin and ether serves as store of value. If ever there will be an alt than can gain trust and support as bitcoin, then maybe that alt can serve as a store of value as well. But right now, it is just this 2.

[TonyMark]

Because the Bitcoin is the first cryptocurrency and most popular cryptocurrency in the world. Bitcoin having the characteristics like fiat currency i.e Divisible. Every altcoin can be divided into the bitcoin. After bitcoin, ethereum launched and it becomes popular.

[stealth.money]

Everything tight to Bitcoin and not every exchanges support altcoins. Exchanges are gateway to fiat.

[Filmmmakerr]

Because those certain alt coin use bitcoin and etc as that currency as a main source. Bitcoin is the chosen currency of every alt coin, even ethereum. But those two are in particularly storage of value.

[n4poleon]

Because it is built on that market, it is traded first there on that cryptoclass. And sometimes a currency or an asset was built from these platforms hence it is naturally to be traded on such. When demand grows from fiat/crytpo pair then that can be worked out hence markets are born.

[Hamstead]

It's because among digital currencies bitcoin could be trusted more, altcoins are very closed to bitcoin or it could be say a next inline with bitcoin and it can be easily traded with it. Fiat is just an exchanger.

[emberbekas]

Hello to everyone

As the title says, Why are Altcoins traded with Bitcoin or Ether and not with fiat directly? Newbie here and needs to get some questions cleared up

 

In my local exchanger, I can trade altcoins such as ethereum, etc, and bitcoin cash directly to my local currency. So this depends on each exchanger whether they will pair altcoins with fiat or not.

[jzone23]

I think its because most exchange are not offering the option to buy alts directly with fiat money. Like here in our country only bitcoin can be buy and sell with fiat so I have no choice but to buy btc and use bitcoins to buy other alts.

[CoinOp]

I believe it just simplifies things.  The other coins don't have the right infrastructure in place.

[VikingCoin]

I am a new to the crypto coin world, as well.

The info regarding Bitcoin and Ethereum being the go to currency, for trading alternative coins, is good to know.

[necromastery]

Because they are both have been recognized in the crypto world as a standard price reference. but sometime there is several coin/token that use Waves as a price reference. and that jus happened on global market,  not for local market which some coins can be traded to money instead.

[Youghoor]

Just like a lot of people said on here, it depends on the exchanger you are trading your altcoins.
I use a local exchanger to buy my coins, just like Bitcoin, ethereum, monero or Litecoin, he sells me every coin at the current market price, but with my local money.
But if you are trading on a famous exchanger, then it is better to use alt/btc alt/eth just to make things easier.

[gilabusuk1]

Because altcoin does not work as well as bitcoin and etherium that serve as a store of value and the reason why altcoin can not yet be like bitcoin because altcoin has no trust like bitcoin.

[tsaroz]

It's not totally true that Altcoins are traded just fo Bitcoin or Ether. But mostly yes.
The main reason is conversion. Bitcoin and Ethereum has a larger user group and hence the conversion is easier.
It used to be just bitcoin some years ago.
And it would be for many cryptos in coming time.

[truimpheriues]

ethereum or ETH much exchanger is support direct to exchange fiat money
all altcoin not support direct to exchange, because exchanger not believe or not trust altcoin another ETH, maybe user community not big , difference ETH and BTC, user community is big

[Funeral Wreaths]

as we all know that bitcoin is considered as an international currency and that is the main point why it is being used to buy altcoins rather than your local currency or so called fiats. aside from it is an international currency, most of the alternate coins are having this so called plat form where they find it way more to easy to buy and sell, and for us investors and them developers could both benefit, as it is hassle free and prevent so much time consumed.

[dealung]

Because we trade in the world of crypto and we know that bitcoin is the first digital currency.
But in certain exchanger you can also trade bitcoin to usd or vice versa.

[chesegrinder]

first bitcoin is the first crypto currency, second bitcoin and ether have the most trusted platforms, third, not all altcoin are accepted in exchange but bitcoin does. forth, bitcoin are the most convenient digital currency all over the world/most popular next is ether.
if there are altcoin that can gain more trust and exceptional of all the altcoin we have right now maybe it can be traded directly into fiat. But dont lose hope there are exchange and platform that directly convert your altcoin in to fiat money.

[deadsilent]

Because it's way more profitable mate than fiat. In fiat, your money is sleeping. Unlike to Bitcoin and Ethereum. The profit continues. Converting in fiat is good tho. It's more secure than Bitcoin and Ethereum because we all know they're very volatile. But still most of traders choose Bitcoin and Ethereum because the chance of getting more profit is high. They only convert to fiat if they want to store it to bank or they want to cash it out or sometimes they want their money secured because there are some situations that Bitcoin and Ethereum are having problems or in panic.