avivik (OP)
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December 10, 2017, 11:10:33 AM
Last edit: December 10, 2017, 01:32:51 PM by avivik |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
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Mister1k
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December 10, 2017, 11:56:42 AM |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
Altcoin goes to the trader you are selling the coin to that concern person. I want to know which exchange you are using to change your currency. Sometimes if you are okay with the site value of the coin you want to sell. That will give exchange of the coon within few minutes but the expectation amount you can set when you open the trade. The value will be accordingly and you will able sell forchigh price too. |
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avivik (OP)
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December 10, 2017, 01:37:32 PM |
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I can see now that my question wasn't clear. I revised the headline.
I'm not asking where the money goes, I'm asking how do you do it - sell altcoins. What do you buy instead? BTC? something else?
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CryptoTamer
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December 10, 2017, 02:32:29 PM |
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Usually I sell Altcoin for Bitcoin because in the local exchange I use only provide some altcoin that can be traded with Fiat and I still believe Bitcoin is a good coin to be my investment center in crypto currency
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laxinternational
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December 10, 2017, 02:53:31 PM |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
I seek new chances in altcoins and buy cheap ones if available any of them. I don't frequently cash them out because in fiat money, there is inflation and its purchasing power decreases with time. |
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Mattia88
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December 10, 2017, 02:59:13 PM |
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When i have profit from trading I use 50% to buy BTC and the other 50% to trade with other altcoin. This strategy make me a lot of profit.  |
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rodskee
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★Bitvest.io★ Play Plinko or Invest!
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December 10, 2017, 02:59:37 PM
Last edit: December 10, 2017, 03:28:29 PM by rodskee |
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Usually I sell Altcoin for Bitcoin because in the local exchange I use only provide some altcoin that can be traded with Fiat and I still believe Bitcoin is a good coin to be my investment center in crypto currency
i agree with you mate altcoins are good investment buy and sell using bitcoin, bitcoin exchange into fiat or vice versa its depends the strategy of holders how to make good strategy for their investment become profitable. |
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tech72
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December 10, 2017, 03:00:31 PM |
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If you are good at it, it is better to reinvest the amount again for future trades. I only pull out of profits if I urgently need a large sum which my savings can't cover and this rarely happens. Also, if you are doing big trades(over 1-2 BTC), then you can cash out the profits or keep the profits in form of Bitcoin as savings (No trading from it).
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royalfestus
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December 10, 2017, 03:12:02 PM |
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When i have profit from trading I use 50% to buy BTC and the other 50% to trade with other altcoin. This strategy make me a lot of profit. U mean half of your crypto is in bitcoin. I like to know how long you have been doing this |
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streetlight
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December 10, 2017, 03:28:55 PM |
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I don't own altcoins, but usually when I get some temporarily, or from a bounty campaign, I sell them instantly. The reason being I don't have nearly the same amount of trust in altcoins as Bitcoin and its network of miners around the world. IT doesn't make sense to keep altcoins when they are so risky and Bitcoin is nearly as much so.
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babyshaun
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December 10, 2017, 03:31:31 PM |
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when you sell altcoin the price of btc is at the stage pumping. why? because there's a chance that your investment will increase in fiat currency and then you decide what to do next. cash out or buy again btc or maybe altcoin.
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melted349
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December 10, 2017, 03:38:46 PM |
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Usually I sell Altcoin for Bitcoin because in the local exchange I use only provide some altcoin that can be traded with Fiat and I still believe Bitcoin is a good coin to be my investment center in crypto currency
i agree with you mate altcoins are good investment buy and sell using bitcoin, bitcoin exchange into fiat or vice versa its depends the strategy of holders how to make good strategy for their investment become profitable. there is a lot of way on hiw would you do that but yes it was always depends on the holder on what strategy he is making to take the risk and make a lot of profit here , for me what i was like more on after selling altcoin is to make an investment in bitcoin cause i know and we know how good and much better is bitcoin are than altcoin as of now. |
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rodalutor
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December 10, 2017, 03:42:16 PM |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
Mostly if investing in alts I work on the basis of trying to grow my bitcoin, that means if I invest 1 bitcoin I hope to sell for more than 1 bitcoin, irrespective of the USD value, this is because of my belief in bitcoin price going upwards, therefore when I sell alts I keep my money in bitcoin until I decide to buy more alts. |
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carlfebz2
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December 10, 2017, 04:25:54 PM |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
I'm little bit confused on what you are saying here completely but I do get the point on where what would you do if you did able to make profits on selling out your altcoins. When we do that we do normally earn bitcoin since this is the only common thing that do happen where we do convert our alts into btc all the time when we do trade.Answers here would really vary because people do have different decision when it comes to their profits some of them would re-roll or reinvest and some of them would immediately cash-out since they do have something need to purchase on. |
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jhongzjhong
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https://bmy.guide
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December 10, 2017, 04:57:05 PM |
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I'm making my first steps in the cryptocurrency trading world, and am learning everything from scratch (and loving it!)
I have a question which I couldn't find a definite answer for.
What do you do when you want to close a trade of an alt coin? With BTC it's easy, you just cash out (or not?)
But with alt coins, what do you do? Do you buy BTC? If so, then I assume it's a gamble as well, as you don't know what BTC will do from this point onward.
Do you buy BTC and then Tether maybe, so you can stay in the exchange and not have to withdraw the money and then deposit again?
I'm obviously talking about a scenario where you want to take the earnings and re-invest them, as opposed to just take the money and go home.
I also experienced what you have done by in trading site, you can't easily withdraw or pull out your money in exchange market because they have a high paying fees when you withdraw you money or bitcoin as well. So if you a gained you need to trade again to achieved the payment fee for withdrawal of exchange market. In this scenario you buy altcoin instead of bitcoin and then transfer to your MEW. Because altcoins is lesser pay out fees compared to bitcoin. Actually is not a gambled they are taking your money out of you. |
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SONG GEET
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December 10, 2017, 05:17:42 PM |
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I mostly use all the bitcoin I will get after selling my altcoins to put into another alts but when I need to cash them out or don't want to risk on price volatility, I exchange those bitcoin that I will get after selling altcoins into USDT and keep them in exchange or withdraw them out to my Tether address/bitcoin address to use in future or to buy back cheap coins during dump.
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LodisMcguire
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December 10, 2017, 05:28:06 PM |
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For me,i always go for bitcoin and keep it in the wallet
Altcoin that i got mostly from bounty or airdrop,so i just exchange it with bitcoin
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nabilanur
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Merit: 10
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December 10, 2017, 06:40:59 PM |
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I am daily trader.I always try to make money from crypto market.When I sell my altcoin, you know I get btc or eth.So I try to buy any good altcoin for next profitable trading.It's my day job sell and buy and get a smaller profit.
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anitaraymonds
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December 10, 2017, 07:16:51 PM |
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Once I sold off my altcoin I will look for another cheaper altcoin to buy. If I have exchanged to ether then I will confirm if the price will be higher in bicoin or it will be higher in ether. Whichever is higher then will exchange the coin to that one just to maximize my profit.
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dejan_p
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December 10, 2017, 07:23:14 PM |
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i usually tend to reinvest the profits into some different alts, or if buy more of the one i just traded (this is only for coins i do believe in).
recently i started moving profits to btc as well, if i learned something the hard way in these years, is to hold the coins and cash out when/if they reach the price you never expected
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