Bitcoin Forum
October 07, 2024, 05:15:22 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: How to fund and trade Alt coins without first buy bitcoin  (Read 184 times)
tkcoin (OP)
Newbie
*
Offline Offline

Activity: 7
Merit: 0


View Profile
December 05, 2017, 09:38:59 PM
 #1

If my goal is to trade Alt, it seems silly to first buy Ripple / Tether / bitcoin
Is there any pro/con?
Norcal2020
Newbie
*
Offline Offline

Activity: 58
Merit: 0


View Profile
December 05, 2017, 09:50:57 PM
 #2

IMO- most of the exchanges that you should be using (hint: established with good track record), generally only take digital currency to purchase the alts and not cash, debit or credit.
pooya87
Legendary
*
Offline Offline

Activity: 3598
Merit: 10923



View Profile
December 06, 2017, 04:15:30 AM
 #3

it is like walking into a shop in US and want to pay with Zimbabwe dollar instead of dollar that everyone else is using.
when it comes to altcoin trading, majority of people are doing it to increase their bitcoin holdings. so they all trade with bitcoin to make profit on that also. this means for any altcoin the BTC market is more popular than anything else.
you still have other options, you can buy most of the big coins with fiat directly. there are multiple exchanges that have the altcoin/USD, altcoin/EUR,  ... listed which you can use.

pros? maybe if you want to start without having bitcoin you can skip a step and pay 1 less trading fee. it is not that big, so it is not such a pro!
cons? you will have to go to a specific exchange that has that market, not all of them have it. so your options is limited. you can't buy all the altcoins with everything you want. and as i said these markets are less popular, not all of them but in most cases you may even see less liquidity.

flaming0
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
December 06, 2017, 05:33:55 AM
 #4

it is like walking into a shop in US and want to pay with Zimbabwe dollar instead of dollar that everyone else is using.
when it comes to altcoin trading, majority of people are doing it to increase their bitcoin holdings. so they all trade with bitcoin to make profit on that also. this means for any altcoin the BTC market is more popular than anything else.
you still have other options, you can buy most of the big coins with fiat directly. there are multiple exchanges that have the altcoin/USD, altcoin/EUR,  ... listed which you can use.

pros? maybe if you want to start without having bitcoin you can skip a step and pay 1 less trading fee. it is not that big, so it is not such a pro!
cons? you will have to go to a specific exchange that has that market, not all of them have it. so your options is limited. you can't buy all the altcoins with everything you want. and as i said these markets are less popular, not all of them but in most cases you may even see less liquidity.

or you can just get usdt anywhere
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!