cryptoking1981 (OP)
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December 04, 2017, 07:31:38 PM |
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Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.
I have been purchasing alts with bitcoin on btx. However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.
Can someone explain the differences in purchasing with different methods?
pros and cons, if there are any?
If there is cost implications?
Your valuble information wil be greatly appreciated
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AltsBoom
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December 04, 2017, 08:00:57 PM |
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I don't know what the reason for that could be other than finding a better price point. If there are multiple listings then you can perhaps find a better price through a ETH, LTC, DOGE, or any other pairing. However the volume on these pairings is generally much less significant and you may have to wait a while as the books are also generally much further apart. Though the point remains you can get a better price if you are patient and willing to wait for your coins, but if you need them right away this strategy won't work for you.
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mercer007
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December 04, 2017, 08:11:04 PM |
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It's better to buy alternative coins with BTC because majority of the site prefer BTC as the main instrument for buying and flucting is least.
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Badhuamin
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December 04, 2017, 10:24:04 PM |
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if I myself prefer to buy Altcoin with Ethereum because of its easy exchange.
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BitcoinIsTheAnswer
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December 04, 2017, 10:24:53 PM |
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Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.
I have been purchasing alts with bitcoin on btx. However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.
Can someone explain the differences in purchasing with different methods?
pros and cons, if there are any?
If there is cost implications?
Your valuble information wil be greatly appreciated
I'd prefer to buy alts with bitcoin because, I got buy any coin with them on polo, ether has somo limitations while trading with it and you'r not able to purchase any coin desired.
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webmone
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December 09, 2017, 02:53:28 PM |
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t is better to buy altcoins and then using an exchanger come to Ethereum and Bitcoin. If you buy BTC and ETH directly you will pay more commissions into it. Make a chain of operations, keep in your wallet the coins from top-20 and some BTC.
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myhoho
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December 09, 2017, 02:55:52 PM |
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For now its better to buy with bitcoin. Etehreum price is at dips against bitcoin so selling bitcoin and buying altcoins is more profitable. Also we have to keep an eye for futures trading news on december 10. This will be a big affect on bitcoin price.
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FLoving
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December 09, 2017, 03:00:02 PM |
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Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.
I have been purchasing alts with bitcoin on btx. However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.
Can someone explain the differences in purchasing with different methods?
pros and cons, if there are any?
If there is cost implications?
Your valuble information wil be greatly appreciated
I think there is not any difference in using anyone of them to buy altcoin. But we have to keep the price of it in mind as if the price of ethereum is stable and the price of bitcoin is increasing then we have not to use bitcoin and have to use ethereum as bitcoin will give us the profit. While if you are talking about the investment in ICO then yes in many ICO you can only invest through ethereum as it is the sale code setting in the ethereum smart contract.
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IgorShumilo
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December 09, 2017, 03:13:29 PM |
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I think it's better to buy and hold bitcoin and if you saw a promising project and wanted to take part in it, then there is nothing difficult in selling a bit of bitcoin and buying an etherium. In addition, on all exchanges, there are many more trading pairs with bitcoin than with the etherium!
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cabron
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December 09, 2017, 03:19:05 PM |
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For the most part, Bitcoin is much valuable than ETH so if you have to spend something and while you have ETH, use your ETH and not BTC. Its price is appreciating almost every week, why waste the opportunity to end up having more money than having ETH which growth isn't as consistent as BTC. It can double its value in a month which is why the possibility of the predictions BTC being $10K already happened.
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DanWalker
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December 09, 2017, 04:22:23 PM |
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Only exchange rate matters. Here is the example about converting of fiat into crypto. Sometimes I make a chain with 3-5 exchanges to buy crypto with fiat at the best rate. It's very strange but sometimes it could reduce the fees from 6-8% down to 1-3%. So when you want to buy alts with BTC or ETH take a look at their price at the moment
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parobber
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December 09, 2017, 04:27:07 PM |
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Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.
I have been purchasing alts with bitcoin on btx. However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.
Can someone explain the differences in purchasing with different methods?
pros and cons, if there are any?
If there is cost implications?
Your valuble information wil be greatly appreciated
I don't see how it makes any difference whatsoever, effectively at that time you may as well be selling your ethereum or bitcoin etc for dollars and then converting it in to the alt coin you are buying. The only difference I can see is the fees attached in moving funds, but if you are using an exchange you will play a flat fee.
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Panda Trump
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December 09, 2017, 04:45:27 PM |
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Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.
I have been purchasing alts with bitcoin on btx. However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.
Can someone explain the differences in purchasing with different methods?
pros and cons, if there are any?
If there is cost implications?
Your valuble information wil be greatly appreciated
Bitcoin Pros: -Huge Volume -Looked upon as Digital Gold, thus has a lot of support
Cons: -Slow Transactions -Expensive Transactions -Likely in a bubble Ethereum Pros: -High Volume -Reasonably Stable
Cons: -Slow Transactions -Expensive Transactions
This is a comparison for their usage for Crypto-Trading. We see that Ethereum has a high volume, but much lower than Bitcoin. Using Ethereum, the prices you find often won't be as accurate as when you trade with Bitcoin. This opens up a great deal of arbitrage opportunities though... The major advantage Ethereum had over Bitcoin, was its low Transaction Fees and high Transaction Speed. However, now due to an overload on Ethereum's network, Ethereum's fees & transactions speeds are just as horrible as Bitcoin's. Personally, I mostly trade with Bitcoin and Litecoin for the exchanges that have high volumes on Litecoin trading as well. Once Litecoin gains more volume on the majority of the exchanges, I'll start using that one mainly. I truly hope that happens, as it's probably the most potent coin at the moment. Litecoin Pros: -Growing Volume -Cheap Transactions -Fast Transactions -Healthy growth
Cons: -Lower Volume (At the moment)
All 3 are OK though... It really depends on what you want/need. Bitcoin is quite Volatile, Ethereum is pretty stable and Litecoin somewhere in between.
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hdclover
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December 09, 2017, 04:48:11 PM |
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If you want to buy an altcoin ASAP but you only have money in your bank account then purchasing ETH and transferring it to exchange to buy other altcoins is a good idea. If you want to trade then use Bitcoin because ETH pair on exchanges have less volume and coin choices.
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Blah blah
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stromae
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December 09, 2017, 04:48:56 PM |
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For the most part, Bitcoin is much valuable than ETH so if you have to spend something and while you have ETH, use your ETH and not BTC. Its price is appreciating almost every week, why waste the opportunity to end up having more money than having ETH which growth isn't as consistent as BTC. It can double its value in a month which is why the possibility of the predictions BTC being $10K already happened.
At the trade time, there is no difference between buying them with ethereum or bitcoin. The problem begins after the trade. Because the rate between eth and btc will change significantly.
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andohyeb
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December 09, 2017, 04:59:18 PM |
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I think it all comes to transaction fees. Litecoins and Ethereum will cost less fess than bitcoins.
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qazgroup
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RiveMont
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December 09, 2017, 05:12:32 PM |
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I think bitcoin is not a good option to invest in icos at the moment as it is itself growing rapidly, if I had to pick I will choose eth to invest in the icos.
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askmecrypto
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December 09, 2017, 05:14:31 PM |
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At the moment, in case you have Tether, best is to convert it into ALTs, if not tether then use FIAT. Both BTC and ETH are on a good ride now and I speculate that there is going to be a much bigger growth by the EOY.
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flower1024
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December 09, 2017, 05:32:46 PM |
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I think it all comes to transaction fees. Litecoins and Ethereum will cost less fess than bitcoins.
Yes fees and confirmation time, compare to bitcoins ETH and LTC have fast confirmation and less fee. you can buy your alts with any coins no problem but to see the exact profit you must convert it into USDT.
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arpon11
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December 09, 2017, 06:07:14 PM |
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If you have your way I will advise you to buy altcoins with your local currency as this cut out transactions cost by network. If you are buying a coins direct most especially through credit card you will agree with me that your cost of purchase is reduced. Bitcoin transaction cost or fees is going up every day and some things has to be done about it in other to make things easier for traders and bitcoin to remain as a currency. The way things are going now micro payment might not be possible in days to come as many companies cannot used bitcoin because of fees. You can buy some altcoins direct with you bank account and debt card and if this is possible in your country it is better.Bitcoin bitcoin and ethereum, ethereum is still far better to purchase altcoins with as the gas is far better than bitcoin fees.
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