Why are altcoin exchanged for btc and not for dollar

[pawanjain]

We all know the Bitcoin is the first cryptocurrency. It has developed a lot and it's price has also increased tremendously over the years. Most of the crypto traders use BTC which is the reason why BTC is used as  a pair for the Altcoins. It also depends on the exchanges whether they want to use BTC or USD as a pair to altcoin. There aer many exchanges which have USD pair markets and other Altcoins like ETH and BCH are also used as pairs. The point that altcoins' price is related to BTC is true but then if the price will during BTC's depreciation then it will also increase when BTC goes high.

[Altcoindealer]

I asked me this question alot. And i think i know the answer. I think its quite to heavy for a exchange to have a bank account where you can transfer money on, and also a fiat currency system which will be available to handle all the trades. Because all those trades would be just digital, and handle all the digital fiat money transaction would be not safe enough. When you sending the cryptocurrencies, you always receive it on a adress. So i think in future we can not await usd pairs.

[Haley craft]

So that's the rules of the cryptocurrency market.
People usually use BTC as a unit of account, not dollars.

[Naman1111]

The reason is Bitcoin is the sound money. Sound money is something which is limited in supply and easily transferrable so thus its better than USD. The goal of every trader is to max bitcoin . The reason is it’s the most safe cryptocurrency bcz of the network effect that it produces. Thus, the trader uses altcoin to increase their positions and convert them into BTC and live like a king thereafter.

[Jaycee99]

Well lets say like USD the dollers it is the known, the main currency of paper money and to curios it is not possible because altcoin it is e-currency that is use by android or apple cellphones and the all known paper money the US dollar is just used in paying bills and paying groceries. Even other payment methods in paying bills(payed in dollar or paper money) can be payed by a electronic devises like cellphones.

In short:

1. It is because US is different
2. Bitcoin is a cryptocuurency

Just think about that can be possible in the future but really for BTC (main exchange) it is the king like in paper money it is US Dollars king (main exchange).

[CaterpillarRave]

According to my knowledge. altcoin is usually traded with btc or ete pairs because these two coin numbers are the # 1. altcoin relies on the price of bitcoin and ETH to determine its price. So I think the reason is like that

[max6575]

appealing use of release from the drawing of market and news from developer,
as investors to focus within the field of work within the business on crypto finance.
to collects and returns with the nominal profit on consequence as managing plan with the investment projects.

[thanhdatdat23]

It's not dollar, it's tether And i think that's because BTC is the most trusted coin in the market, people use BTC and ETH to participate in ICO so when the coin is listed on exchanges, they have to follow BTC/ETH pair

[Ka4Rt4]

because we know that bitcoin is the king of all coins and its throne is higher than others and its popularity is very famous, so if altcoin is exchanged with bitcoin then it is very useful and it can be advantageous for us to know the price of bitcoin now is slowly starting to increase.

[Slugmonkey]

Bitcoin is like for altcoins as usd is for other currencies. It is most popular and stable and people have most faith in it. Same goes for bitcoin most value in circulation, most widely known, and most stable because of US economy. And another reason is that most of the coins are not trustworthy therefore exchanges don't pay heed to them. This does cause extra wastage of fees and effort.

[ChainWorld]

This is avery good question never thought of that but i think most traders like to trade altcoins with btc, eth etc,also there are  some popular altcoins that trade against currencies.

[Emperor of Man]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

This is an interesting subject, and I think that one of the biggest problems in the cryptocurrency world is the fact that every crypto is so much dependent to daddy bitcoin!

Although some exchanges offer fiat pairs for alts too, but it's very limited and mostly for major alts.

I wish for a day when alts are not so dependent to bitcoin, but since it's the way it has always been, I dunno how would that happen.

[jtbcoins]

There are coins and tokens that can trade for dollars. Just look for a right exchange. Not all of the altcoins can, but there are altcoins that can. Bancor (BNT) actually can be trade for a dollars.

[damberg]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

To answer your first question - exchanging altcoin to btc (and vice versa) is easier for exchnages to process because they don't need to deal with fiat money. "Having tons of altcoin is just like having bitcoin," it is not exact. Crypto market as general shows positive correlation to Bitcoin, but single coins tend to behave differently (pumps before forks, dumps after news etc.).

[omonuyak]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

Who tell you that altcoins are not bought for dollars. It seeing you have not been trade on coinbase and some other big exchange? Just the like eur and gpb move in direct proposion to usd is the same thing we are witnessing now because we are still new here and the market of altcoins is going to be behaving like that of bitcoin because the whole structure of blockchain technology and cryptocurrencies are build on bitcoin and that is the reason why altcoins seen not to be exchange directly with dollars.

[cryptocrocs]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

Because dollar doesnt fluctuate,bitcoin and altcoins does,that is why you shouldnt be using any of these fiat currencies as they are controlled by the banks/governments.Cryptocurrencies are decentralized and it is the future currencies of our generation which is why those adopted these currencies are going to be wealthy in the future.

[St4yInTh3D4rk]

Most of the trading exchanges have other trading pairs as well other than bitcoin so you need to check the other exchanges to get ETH or some other reputed crypto currencies.But it is an crypto currencies if you want to sell it for direct fiat then the demand will get too less for that coin that is why people are using bitcoin for trading fiat and other crypto currencies to crypto to crypto trading.

[boy130]

On some exchanges you do find altcoins exchanged directly for USDT, I know that Binance and Bittrex offer this function, though not for every single cryptocurrency of course due to the volume, but because the volume would be so low for most altcoins, this is only reserved for altcoins with a high daily trade volums, otherwise there would be extreme market manipulation for these coins. That's why you find USDT/ETH and USDT/EOS trade pairs, but not for smaller coins.

[illnino]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

I don't deal very much with altcoins but as I know it is possible to convert at least Ethereum into dollars and euro through cex.io service. I just know about such opportunity. Try it, maybe it will be helpful.

[Gaaara]

Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.

Isn't this pointless? Why not buying and selling alts for dollar?

I don't think the idea will be a good thing, first of all the reason behind bitcoin being the main trading of altcoins is because it is the most common and the widely adapted cryptocurrency in the world. Now imagine if you need to buy altcoins where do you buy place your money for it to go online or in internet? What I'm saying is that bitcoin is the easiest way for your money to be able to go online so it is commonly be used for trading.