Will you trade Bitcoin to buy Altcoins?

[VitKoyn]

Of course you still have to use Bitcoin to buy altcoins in some exchanges so you have no choice if you want to invest on an altcoin but to use Bitcoin. But personally I don't really invest long term on altcoins because most have low volumes, and it is a big risk because whales can manipulate the price easily by investing huge amount of money on a coin that has low volume and dump it after the price goes up. This is why I only trade altcoins for short term profits, and in this case I can always have an opportunity to enter or get out of that market depending on the situation. If for long term I would still choose Bitcoin than other cryptocurrencies, but diversifying your investment is also a good strategy.

[FalcoonRed]

it's really true because to start my merchandise I started by trading bitcoin because its nominal is very big and the market is also fast changing unlike other coins

[crptotrader007]

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

Yes off course and by seeing today's market I am sure many people would do same.Alts have done better than Bitcoin and has generated more profitable numbers as well.And one more thing it will reduce my cost as fees of transferring fiat to the market will be reduced.

[Qunetick]

Unless you are a very experienced trader, I strongly suggest you not to do that.
Altcoins pose substantial risks, even in day trading: subpar exchanges, vulnerabilities of all sorts, poor liquidity that can damage your profits.
Greed is good, but I think you can fulfill it with bitcoin.
My two cents,
F1

Well said mate. It would be possible to gain more profit in altcoins with day trading but it poses such a big risk. Unless you are a very experienced trader, it will be hard for you to grow your profit with altcoins especially in short term. You may sell a portion of your btc for altcoins but try to set aside of it for long term trading.

[Slash61]

Bitcoin is perfect for long-term investments not for trading for me personally, I prefer to trade in altcoin by choosing a fairly cheap price then it will get bigger profits for daily trading, but with current trading conditions it will all be more risky and profitable too fit when making large-scale purchases and hold until the price starts to good / up, then stay patient.

[usekevin]

Yes.If the price of Bitcoin is maximum.I will convert my holding bitcoin into the trusted altcoin.Then holding both the remaining bitcoin and altcoin for my future.If the price increase,it will good news for the holding people.We can easily convert Bitcoin into Altcoin.

[nsasuiteb]

I would only trade my bitcoin with the purpose of increasing my btc holding, I hold some altcoins too but most of the altcoins are basically useless, holding them is bullshit except for more bitcoin.

[nydiacaskey01]

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

Even in this trying times when Bitcoins and Altcoin are going down, those who are not experienced enough in trading are most likely to loose. When I was new in trading I always chase coins that are currently pumped but after a while I noticed that if you are not among those who receives the signal early, you will definitely loose your money fast. I would suggest for a newbie to start observing first and takes notes of price history.

[fiulpro]

It is important for sure to make money on a regular basis but we should also understand the cryptocurrency first and how safe it is.
Whatever you said is absolutely right and people are starting to realize it and therefore wallets are adding feature of trading between altcoins and Bitcoins without any Bitcoins to fiat and fiat to altcoins transaction.
Also it depends on what you are trading, if it's etherum and litecoin I would consider them for the long term and if it's anything else we all know how due to that much competition it's hard for them to survive in the market.
So I won't blindly go and trade where I see profit, first I think I will analyze if the situation could actually give us long term gains on day to day trading basis .
And if its safe ..
But good point, it's what could earn you your daily wage

[just_Alice]

The wisest decision would be to combine long-term investment and daily trading. You're right that for daily trading BTC isn't the best choice (although its price is more predictable, than that of other coins so the risk here is lower). But right now I wouldn't suggest to sell off your BTC, there are a lot of reasons to HODL for 4-5 more months and see what happens.

[Siminarota]

Yes, I usually buy altcoins through BTC, but sometimes I use ETH, as ETH is quite popular and most of the tokens are based on ethereum blockchain.

[Chachacoin17]

It's an ideal theory. We all want the highest profit. However , you have to feel lucky to not keep altcoin  as of this moment. We' re sinking into the red sea. Investing in altcoin has the potential to return big profits , but it also is a huge risk. At the present time , the market is no longer compliant. All of our investments now are human instincts

In taking risk, it was just normal to those people who had great dreams in trading. For me, if a person has enough bitcoin that hasn't moving while the price was still unpredictably pumping for higher value; maybe that's the best option to do is to buy altcoins in order to grow the profit. But make sure to purchase the good coin which could be better for longer terms, because if mistakenly that coin was a shit one probably you'll not be earning good profit or that coin will be dead.

[rahul10]

trade with fiat... If you buy an alt with Bitcoin and the Bitcoin prices rise but alt to USD stay the same, you have made a loss relative to btc but you still break even in USD. If you buy directly with USD, you will also break even, but If you had put that USD in btc then you would have made some profit.

So in both cases, you break even in USD, but if you had kept the Bitcoin in case 1, or bought Bitcoin instead of alt in case 2, you would have made more profit.

[deadsilent]

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

Yes, trading altcoins is far more superior than trading Bitcoin alone. That's why some of the traders preffered trading altcoins. It could be give you 10x fold or even more by doing it. Anyway, it's not ideal to trade BTC/altcoin pair right now because of bearish market. Because once the altcoins and BTC falls. You loss 2x. You'll fall even more. So right now, the best thing to do is to trade on BTC/USDT pair. But you can still trade altcoin/BTC pair. But this bearish market can only give you atleast 5%-10% of profit. I think it is not that huge. So trade with precaution.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

Of course, you must have the knowledge to make your trades profitable. If your good enough to read and analyze the market trends. Surely, it can give a decent profit.

[watchurstep45]

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

cryp to life is not being all bitcoins , you need to trade it in altcoins in order for you to gain income, especially right now that bitcoin is dumping ,

[biboy]

The wisest decision would be to combine long-term investment and daily trading. You're right that for daily trading BTC isn't the best choice (although its price is more predictable, than that of other coins so the risk here is lower). But right now I wouldn't suggest to sell off your BTC, there are a lot of reasons to HODL for 4-5 more months and see what happens.

That is right, for me trading bitcoin to buy altcoins won't cause any problem if you know what you are doing, but if not then I doubt if you can do it right, we should always considered first having a bitcoin  hodling but not all, we can also consider buying some profitable altcoins.

[Indrawan77]

Sure, most of the traders do things like that, but only do it if you have the skill and time to keep on watching the price, alt coin can be very dangerous because of the swing that could happen really fast, and some rising are really quick and short, but I think you can't only rely on btc to make profit, so short term with alt can be good option

[SCRAPYCOCO]

The idea of investing in other altcoins seems interesting to me, consider the volatility of the mecardo, but I also see sometimes this can not always work and I think it is a risk.

[colkcolk]

I think it is a good choice to trade altcoin rather than bitcoin for short term since the volatility of altcoin is much higher than bitcoin, as you said that bitcoin is good for long term investment and I agree on that. Bitcoin is similar with gold in our real world that will be good for long term investment.

[vktrglbr]

Altcoins can not now be analyzed by waves theory for example. It is very importent for a regular profit. When the market will be more stable I would use similar strategy too.