lose value when convert all alt coins to BTC?

[worldtraveller321]

Ok a question about exchanging and cash outs.

As I am doing lots of trading in crypto now. Investing in many different coins and BTC.
for some of the services to do a cash out. When I am ready to cash out coins. I have to exchange most of everything into BTC or ETH to do a proper sell.

Question I have would I be losing lots of gains/profits in the exchange process back to BTC?
eg. Verge to BTC etc?

Thoughts on this?

[linkHA]

When you replace altcoin with BTC, there are both poundage and BTC fluctuations, but most of the time, this short time fluctuation is not very large, so the loss can be almost ignored.

[player514]

Ok a question about exchanging and cash outs.

As I am doing lots of trading in crypto now. Investing in many different coins and BTC.
for some of the services to do a cash out. When I am ready to cash out coins. I have to exchange most of everything into BTC or ETH to do a proper sell.

Question I have would I be losing lots of gains/profits in the exchange process back to BTC?
eg. Verge to BTC etc?

Thoughts on this?

I don't think you'll be losing money besides potential fees. When you convert your money to BTC/eth, you need to cash out into fiat practically right after that first conversion. This allows you to get all of your money out without dealing with the bitcoin/eth fluctuations. If that's your only option, I think that's the best path to take. It's generally pretty hard to cash out altcoins directly unless the exchange you're using supports it.

[HabBear]

Question I have would I be losing lots of gains/profits in the exchange process back to BTC?
eg. Verge to BTC etc?

It depends on the timing of the trades. If the value of [alt currency] to BTC goes down when you try to buy back some BTC then you won't be able to buy as much BTC, therefore you'll have lost some gains/profits. And of course, the opposite would be true if the value of [alt currency] to BTC were to go up over the same time frame.

It's classic trading, friend, godspeed!

[Layonk]

Nothing will be loss. Your money is not even less. Only you need to know withdrawal fee.
In another fee also when you sell something in exchange. Many exchanger apply order fee.

[michellee]

Ok a question about exchanging and cash outs.

As I am doing lots of trading in crypto now. Investing in many different coins and BTC.
for some of the services to do a cash out. When I am ready to cash out coins. I have to exchange most of everything into BTC or ETH to do a proper sell.

Question I have would I be losing lots of gains/profits in the exchange process back to BTC?
eg. Verge to BTC etc?

Thoughts on this?

I think you can increase the bitcoin amounts if you are selling the altcoin at the high price. for example, you bought verge at 750 satoshi with 1000 amounts and it will cost you 0.0075xxx satoshi then you can sell all for 1000 amount at 1500 satoshi and it will be 0.01496250 sathosi so you make a nice profit in 0.01496250 sat - 0.00751875 satoshi = 0.00744375 sat.

0.00744375 satoshi is your profit and if you sell 0.00744375 satoshi to fiat, it will depend on bitcoin price in that moment, if bitcoin price decrease like now, you can make $98.12323336 but if you can wait until bitcoin price increase again, then I am sure that you can make more than just $98.12323336.

I hope you understand. this is just an example but the reality sometimes is not the same as what I write.

[worldtraveller321]

makes senses

[dothebeats]

When you replace altcoin with BTC, there are both poundage and BTC fluctuations, but most of the time, this short time fluctuation is not very large, so the loss can be almost ignored.

I wouldn't say negligible since you also need to factor out exchange fees on the process, so adding those up, in the long run, it would somehow be significant to the one who's converting to BTC then converting to cash. Sadly, that's the only way to go for now. Only a few altcoins are supported to be converted directly to fiat so you don't have much choice but to embrace the differences and carry on with the loss.

[Kakmakr]

Yea, Bitcoin is still King and therefore gets the most attention with exchanges. The trading fees is one of the trade offs with these exchanges, because they exist to make profits. If a Alt coin becomes popular and they can make some money, then they will support it.

Supporting withdraw options on every Alt coins is risky and also not practical. Scam coins will ruin the cashflow of an exchange, when everyone wants to cash out.