Simple Question for bitcoin traders

[btctousd81]

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

[ebliever]

Polo has Tether (USDT) which is basically equal to a dollar (it's a lot more complicated than that, but in principle you can redeem 1 tether for $1).

Otherwise on Polo you trade BTC for dozens of other cryptocurrencies. Other exchanges like Coinbase and Gemini allow you to trade Bitcoins into fiat like Dollars.

[eann014]

Yes, you are allowed to use other exchanger that accepts fiat. You can send your btc in your btc wallet that accepts fiat so you can easily converted your bitcoin and use it if you need it. Sell high buy low is always recommended. Ofcourse because that is when we can earn more.

[btctousd81]

Polo has Tether (USDT) which is basically equal to a dollar (it's a lot more complicated than that, but in principle you can redeem 1 tether for $1).

Otherwise on Polo you trade BTC for dozens of other cryptocurrencies. Other exchanges like Coinbase and Gemini allow you to trade Bitcoins into fiat like Dollars.

i don't recall where i read it, but tether value also fluctuates . but not as much as bitcoin.

also tether terms and condition says they are not liable for anything , so in short 1 thether can become 10 cents too.

[btctousd81]

Yes, you are allow to use other exchanger that accepts fiat. You can send your btc in your btc wallet that accepts fiat so you can easily converted your bitcoin and use it if you need it. Sell high buy low is always recommended. Ofcourse because that is when we can earn more.

majorty exchanges does not operate in my country .i.e. India

so i have very few options., i guess.,

i tried registering at gemini and it said , they are not operational in my country., so ill try coinbase.

thanks

edit:
tried coinbase too.
Coinbase does not currently support buys in your country. Subscribe to our blog to be notified when we add support for your country!

[Prettymie]

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

You should dig more on how to trade well, buy low and sell high is the basic of trading but the question is what to buy?
And now you are struggling, its very complicated in your side if you will jump to the advance one so take your time in understanding the basic and gather the necessary tools to use.

[pooya87]

~
i don't recall where i read it, but tether value also fluctuates . but not as much as bitcoin.

USDT value doesn't really fluctuate, check the price history of it versus USD and you will see. what happens is that this is a centralized coin which only depends on the company that issues it. if there is some issue with them then the price of it can tank hard. for example last year when bitfinex was hacked (the company is also behind bitfinex) the price of tether fell hard.
additionally when using tether you should remember than you are trusting a third party (that company) and if they scam and run away you will be left holding a worthless token. and these days some people are speculating about this could actually happen.

[GreenBits]

~
i don't recall where i read it, but tether value also fluctuates . but not as much as bitcoin.

USDT value doesn't really fluctuate, check the price history of it versus USD and you will see. what happens is that this is a centralized coin which only depends on the company that issues it. if there is some issue with them then the price of it can tank hard. for example last year when bitfinex was hacked (the company is also behind bitfinex) the price of tether fell hard.
additionally when using tether you should remember than you are trusting a third party (that company) and if they scam and run away you will be left holding a worthless token. and these days some people are speculating about this could actually happen.

this happened just recently as well, you may notice tether warnings on other major exchanges like hitbtc. the major tether wallet got hacked; dont know if they are going to fork or what (i think they can blacklist those coins at least, via their protocol. but to stay on topic, actually the price of tether can get pretty volatile on a regular basis. you see this on the smaller exchanges, where the liquidity isnt so great. im waiting for tether to release the ERC20 token they were talking about, an ETH tether, but I hold Nubits and NuShares as a USd peg, as well as vaultoro gold (relatively stable, all of these).

[charlotte04]

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

I do trade my Bitcoin vs. USDT, it's best if you are a trader to sell if it is in its high and buy in its low.

[btctousd81]

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

You should dig more on how to trade well, buy low and sell high is the basic of trading but the question is what to buy?
And now you are struggling, its very complicated in your side if you will jump to the advance one so take your time in understanding the basic and gather the necessary tools to use.

will do, thanks

~
i don't recall where i read it, but tether value also fluctuates . but not as much as bitcoin.

USDT value doesn't really fluctuate, check the price history of it versus USD and you will see. what happens is that this is a centralized coin which only depends on the company that issues it. if there is some issue with them then the price of it can tank hard. for example last year when bitfinex was hacked (the company is also behind bitfinex) the price of tether fell hard.
additionally when using tether you should remember than you are trusting a third party (that company) and if they scam and run away you will be left holding a worthless token. and these days some people are speculating about this could actually happen.

so i guess, i should not store funds in usdt for longer time.,

~
i don't recall where i read it, but tether value also fluctuates . but not as much as bitcoin.

USDT value doesn't really fluctuate, check the price history of it versus USD and you will see. what happens is that this is a centralized coin which only depends on the company that issues it. if there is some issue with them then the price of it can tank hard. for example last year when bitfinex was hacked (the company is also behind bitfinex) the price of tether fell hard.
additionally when using tether you should remember than you are trusting a third party (that company) and if they scam and run away you will be left holding a worthless token. and these days some people are speculating about this could actually happen.

this happened just recently as well, you may notice tether warnings on other major exchanges like hitbtc. the major tether wallet got hacked; dont know if they are going to fork or what (i think they can blacklist those coins at least, via their protocol. but to stay on topic, actually the price of tether can get pretty volatile on a regular basis. you see this on the smaller exchanges, where the liquidity isnt so great. im waiting for tether to release the ERC20 token they were talking about, an ETH tether, but I hold Nubits and NuShares as a USd peg, as well as vaultoro gold (relatively stable, all of these).

never heard of Nubits and NuShares, will look in to it.,

thanks

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

I do trade my Bitcoin vs. USDT, it's best if you are a trader to sell if it is in its high and buy in its low.

i think for short term, like 1-2 days, it doesnt matter much., but cant say for sure.,
thanks

[criticoflife]

yeah you should just open another acct at another exchange and use both. I use like 7 exchanges at the moment and move coins between them all. Just find a coin that has really fast movement and low transaction fees to swap them around the exchanges. You don't want to only use 1 exchange because like you said some don't change into fiat, some don't have the coins/tokens you want and on top of that the prices vary a lot between them all also so you want to be able to buy at the one that has the lowest price always.

[pawanjain]

You can trade BTC for USDT. USDT is nothing but USD itself in digital currency. It is referred to as tether and has the same value as USD.
You can withdraw the USDT to your tether wallet and from there you can transfer the USD to your bank account. Bittrex has the option to trade BTC for USDT. Polo has been having issues lately and that's why many people have moved their coins from polo. Bittrex has been applying more rules to their exchange which has become a reason for many traders to move their coins out from the exchange. Try to find a good exchange with fiat exchange.

[Rabiulawal12]

from what i understand , in trading btc.

buy low and sell high.

but i have a question, i have account at poloniex.,

and when i want to sell,

sell against what ?

i mean what should i get/buy when selling btc.
as polo doesnt deal with fiat currency.

so what is out there which is not as jumpy bitcoin, i.e. stable.

imho, usually people sell bitcoin and get USD.

or should i open account at some other exchange which offers exchange with fiat currency., i.e. real life money

what am i missing here ?

what i dont want is, lets say, i sold btc and got ripple or any other crypto then if its value goes down, my investement goes down too., i hope you are getting what iam trying to say.,

sorry for my bad english.,

thanks for your time.

Yes you buy any crypto currency from Bitcoin if Bitcoin price was down your capital also down.so it's better You can convert your bitcoins into tether . Tether also a fiat currency USDT.

[sicparvismagna]

Well, typically at first you should only buy tokens or coins which are currently available or approved in your country. And yes one best method is to have a wallet address which can convert other alternate coins into bitcoin. And yes it is very advisable in a trading industry especially here in the fast-growing cryptocurrency world  to use the technique of buy low and sell during a high price.

[HasHe]

Just simple.No need to sell your bitcoins and buy another altcoin in poloniex.

When you need to sell your bitcoins,just send your bitcoins to any of your bitcoin wallet.

If you don't have any wallet,you could just download a wallet from Electrum.org.

From your wallet,just send your bitcoins to localbitcoins.com.

You could sell your bitcoins there as you would get more offers from traders.

Give your bank account details to that trader and you would receive your fiat money in your bank account.