How to trade altcoins against USD

[forestx]

Hi
This maybe a bit of an newbie question but I was just wondering how easy it is to trade an alt or shit coin against the USD
and also on Kucoin exchange

lets say you bought a coin and it was worth $0.005 and it goes up to $0.01 thats double the USD price but if the BTC price isnt reflective of it can I get back the value of the coin in USD valuation or UST or whats the best way to do so

[gentlemand]

The prime question is do you want more Bitcoin or more dollars?

You'd be doing yourself a disservice by not settling whether you're after USD or BTC gains. Once you have made that decision then you need to discard the other pairing in your mind as you could be radically up in one when vastly down in another and that might affect your decisions if you're dithering between the two.

Stick to one and things will be far clearer. Are you in it for the long run or do you want to run away with lots of money now? If it's the latter then USD is probably the better bet.

[forestx]

This is the kucoin exchange I am on and I want USD gains
However I did trade against BTC so i dont know if its possible to get the gains in USD
Most exchanges I have seen only really allow you to trade against BTC especially with smaller coins unless I am missing something

[gentlemand]

Kucoin has USDT markets, but not very many compared to BTC markets.

For most coins you'd have to trade against BTC. Even if your chosen coin has a USDT market, turning USDT into real USD is seriously hard so you'd be better off staying in BTC, withdrawing it from Kucoin and selling that BTC for USD.

What country are you in? And what coins do you want to trade? Coinmarketcap will have a list of markets for each coin on their page and you'll be able to find USDT exchanges for them there if they exist.

[forestx]

I am in europe
I have done some day trading on the binance platform but was thinking of doing more trading with USD on smaller low caped coins
If most exchanges trade against BTC where does the USD or Euro price come from or calculated from on coinmarketcap

[Thibault75005]

You should try to trade on bibox, there are a lot USD pair with altcoin! If you d'ont have an account i can send you my refer, you'll have less fees and me too 

[gentlemand]

If most exchanges trade against BTC where does the USD or Euro price come from or calculated from on coinmarketcap

It's purely the alt's BTC price translated into USD or EUR at that moment.

If you're sticking to smaller coins then the likelihood is that you'll be stuck with BTC trading but there will be a few exceptions.

You could quickly check the coins you're interested in against this list but there may be others that aren't included there - https://coinmarketcap.com/currencies/tether/#markets

[Tytanowy Janusz]

Hi
This maybe a bit of an newbie question but I was just wondering how easy it is to trade an alt or shit coin against the USD
and also on Kucoin exchange

lets say you bought a coin and it was worth $0.005 and it goes up to $0.01 thats double the USD price but if the BTC price isnt reflective of it can I get back the value of the coin in USD valuation or UST or whats the best way to do so

As new to market you might not know that all altcoins USD price depends on bitcoin. Altcoins are for me only multiples of bitcoin price. I mean that if bitcoin drops 20% altcoin will drop 20% x multiplier. Multiplier depends on current news in altcoin, quality of altcoin etc. Its becouse they are in 90% paired with bitcoin. When bitcoin price is going down usd market of alt is not stron enought to hold price (calculated price throught bitcoin is going down and arbitrage bots are pulling down usd/alt pairs this makes invesors to sell and it also pulls down btc/alt price).

Thats why its hard to predict USD/ALT price. When you are trading ALT/BTC you need to predict multiplier. When you are trading USD/ALT you need to predict multiplier and bitcoin future price. When you believe in future of bitcoin my suggestion is to invest in bitcoin and trading alt/btc trying to incrise its amount.

If you are investing long/middle term its not a problem to jump throught BTC. Its 1 more trade and you are done (USD/BTC/ALT  ->  ALT/BTC/USD) and can forget that you didn't buy for USD. Its more a problem for daytrading. But to daytrade you need stable exchange. I dont think that kucoin is stable enought. Binance is very sharp. When i make offer its on market in less than second. Kucoin was not that sharp when i was using it few months ago.

[Thibault75005]

The only problem with bibox is the volume but there are a large choice of altcoin, you can try margin trading on altcoin but it's risky!


I don't know if i have the right to give my refer her, but i'm not able to do it by PM : https://www.bibox.com/signPage?id=11093576&lang=en

[jlong187]

There are many exchenges that would allow you to trade right  into USD, or your local currency then to withdraw money to your bank account

[forestx]

I havent seen many exchanges that allow you to do this atleast  not with a wide variety of coins
I may stick to the idea of UST-BTC-ALT-BTC-UST this would be for longer term trading

Thanks everyone for your help

[trumper]

If you trade it against usd, you will end up with a usd not bitcoin so why do you care about btc price, if you care then trade accordingly, consider both usd and btc prices.

[metribitcoin]

Many altcoin paired with Bitcoin, and to trade this pair we should be first look and analysis the price of Bitcoin, because if the price soar the altcoin can be going down. For now that Bitcoin still stagnan is better to trade altcoin with Bitcoin and trade it by short term. And when Bitcoin going up so you can sell in to USDT or USD, so you get double profit from altcoin and also from Bitcoin.

[kokobaba880]

Through crypto exchanges you can trade bitcoin and alt coins and they can be sold for USD crypto coins are valuable and i like to hold when the market is bear and many of new coins are coming day by day so we can pick the most influential coins for investment.

[jerry0]

Isn't the right way... say you want to buy altcoin... buy btc and then immediately buy that altcoin?  Then when ready to sell the altcoin... sell the altcoin for btc and then immediately sell it for usdt?  Thus thats pretty much the only way to hold it in usd/usdt when you want to cash out?  The only issue would be you are paying an additional fee but isn't that not big of a deal?


Example you want to buy 2000 of an altcoin for 1 dollar each.  Btc is at 6k.  So you buy like 2k worth of btc.  Then buy altcoin.  Then say altcoin goes to 1.50.  Now you sell altcoin for btc.  Now you have roughly 3k worth of btc.  Then sell it immediately for usdt.  That way you have around 3k usdt minus fees so let say 2980 or something like that.  That way when now btc goes up or down... it means nothing to you because you have 2980 usdt.  Now say you want to cash out to bank now.  Sell usdt for btc... then immediately sell it to coinbase or whatever exchange... then bank in account.  But this means you have to pay 2 fees... first one is going from btc to usdt and then usdt to btc to coinbase.  But you could also just have sold the altcoin for btc and immediately sold it for usd at coinbase or whatever site that pays in fiat.  But the point of having usdt was to buy more altcoins.
Thus thats the correct way right?