Trading BTC/ ALT COINS

[rufio90210]

Hi

I have just started trading coins on BINANCE and have maybe a thick question.

Binance trade altcoins into btc and vice versa which has confused me because....

If for example I am trading DASH which is rising in price as BTC falls, is any profit i make on Dash rising balanced out by BTC falling as ultimately it will need to get traded back into BTC?

L

[1714951482]

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[1714951482]

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[1714951482]

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[1714951482]

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[minhquan.bn]

Hello
When Dash increases and the BTC decreases, it means you have bought a certain amount of Dash and accumulated Dash. So when Dash increases you will sell DASH to BTC and your BTC number has increased compared to the original time. So you are profitable.
Conversely, if you keep DASH and DASH prices down compared to BTC, you will lose BTC and you lose money

So if you now have DASH in your wallet, please wait for DASH to increase compared to BTC, then sell it to lock in your profits

[mk4]

What are your goals in the first place? Is it to increase your USD? or to increase your BTC holdings? If it's the former, you shouldn't probably care too much of the BTC value of Dash even though you're likely to trade it for BTC first before trading the BTC to fiat. If it's the latter though, just mainly focus on the BTC value of Dash and just ignore it's USD value. At least that's how I do it.

[Mahanton]

What are your goals in the first place? Is it to increase your USD? or to increase your BTC holdings? If it's the former, you shouldn't probably care too much of the BTC value of Dash even though you're likely to trade it for BTC first before trading the BTC to fiat. If it's the latter though, just mainly focus on the BTC value of Dash and just ignore it's USD value. At least that's how I do it.

Also my question because traders most of the time they do mind too much on fiat value that's why it do give out confusion.If BTC is the top priority why you
are trading it wont really matter on what would be the fiat equivalent but well price would vary from time to time with btc.
Sometimes it do really confuse us if we think the other way around.

[crairezx20]

What are your goals in the first place? Is it to increase your USD? or to increase your BTC holdings? If it's the former, you shouldn't probably care too much of the BTC value of Dash even though you're likely to trade it for BTC first before trading the BTC to fiat. If it's the latter though, just mainly focus on the BTC value of Dash and just ignore it's USD value. At least that's how I do it.

Also my question because traders most of the time they do mind too much on fiat value that's why it do give out confusion.If BTC is the top priority why you
are trading it wont really matter on what would be the fiat equivalent but well price would vary from time to time with btc.
Sometimes it do really confuse us if we think the other way around.

Why confuse you just need to focus on the pair coin like the above said don't focus on fiat but you can focus in other pairs like Bitcoin to USDT or any stable coin this way it can also help you to increase the amount of your bitcoin.

It is just the same if you are focusing on both Dash and Bitcoin don't use the USD price for both of them instead focus if how much in BTC you can made after the Dash price(in BTC) increase. So that you can make a profit on both Bitcoin or Dash just always make sure to check the price movement and don't focus on USDT or USD if you are trading for both Bitcoin and Dash.

[Thirdspace]

If for example I am trading DASH which is rising in price as BTC falls, is any profit i make on Dash rising balanced out by BTC falling as ultimately it will need to get traded back into BTC?

just make it simple, assess your trading profit one step/phase at a time
you start by converting your fiat capital into bitcoin amount, write down your initial $ amount
if you are trading btc/dash pair then you buy dash when it's low and sell when it's high
so to profit in altcoin trade is to accumulate more btc than you have before trading
then the next step is to profit in fiat term,
to profit in this phase is to sell your btc for more than your initial capital fiat you invested earlier
so your $ amount now should be higher than initial $ amount, that means profit!

[SvonioneFromMangoCoinz]

Hi

I have just started trading coins on BINANCE and have maybe a thick question.

Binance trade altcoins into btc and vice versa which has confused me because....

If for example I am trading DASH which is rising in price as BTC falls, is any profit i make on Dash rising balanced out by BTC falling as ultimately it will need to get traded back into BTC?

L

I will have an example.
You spend $ 100 to buy 0.01 Bitcoin. then you use 0.01 Bitcoin to buy 20 Dash.
After 1 day, Dash's price increased by 10% but the price of BTC did not increase nor decrease.
then, with 20 Dash, you will buy 0.011 Bitcoin instead of 0.01 Bitcoin.

[MonsterV]

What are your goals in the first place? Is it to increase your USD? or to increase your BTC holdings? If it's the former, you shouldn't probably care too much of the BTC value of Dash even though you're likely to trade it for BTC first before trading the BTC to fiat. If it's the latter though, just mainly focus on the BTC value of Dash and just ignore it's USD value. At least that's how I do it.

Also my question because traders most of the time they do mind too much on fiat value that's why it do give out confusion.If BTC is the top priority why you
are trading it wont really matter on what would be the fiat equivalent but well price would vary from time to time with btc.
Sometimes it do really confuse us if we think the other way around.

You only need to focus on the coin pairs that are intended, if you are still confused just use a stable coin pair like USDT, USDC, it's quite easy and commonly used. Average, binance traders use stable coin pairs, including myself. And the reason I'm using a USDT pair, is because the fluctuations in crypto are very high and my goal is to increase my dollar.

[Ararbermas]

If you've trade on altcoin which constantly increasing , dont ever jump into some coin that you know afterwards it can cause losses. Trade with stable coin instead to protect your portfolio such USDT.. Rather than bitcoin because you know nowadays its  so unpredictable so always play safe mate.

[Marnihughes82]

I think it depends on your goal to increase btc or increase usdt. If you want to increase usdt, you can trade dash/usdt pair. If you want to increase the amount of bcc, the dash / btc pair transaction, of course, if the btc falls, the money will also decrease

[babysweetTiger0401]

Hi

I have just started trading coins on BINANCE and have maybe a thick question.

Binance trade altcoins into btc and vice versa which has confused me because....

If for example I am trading DASH which is rising in price as BTC falls, is any profit i make on Dash rising balanced out by BTC falling as ultimately it will need to get traded back into BTC?

L

If you have Dash now while BTC falls, the best thing you need to do is hold, then if you notice that Bitcoin is getting back again to increase its price value in the market, I suggest you to sell your dash due to surely that Dash will fall down its price, then when it down the price do the buy back again on Dash.

[rufio90210]

Thanks for the help guys,

I think a combination of buying USDT in flat / bear markets and buying BTC whenever its rising is the best way to go.

As many of you have said accumulating more BTC is the goal, its just hard to shake of the need to see the value in FIAT.

[sandra_x]

You are still in profit as long as you are having more Dash coins after trade. Eventually the dollar value will rise and the profit becomes clearer.It is actually better than making a profit in USDa alone

[goinmerry]

Hi

I have just started trading coins on BINANCE and have maybe a thick question.

Binance trade altcoins into btc and vice versa which has confused me because....

If for example I am trading DASH which is rising in price as BTC falls, is any profit i make on Dash rising balanced out by BTC falling as ultimately it will need to get traded back into BTC?

L

To lessen your confusion, ignore how much USD you spend to start trading.

Instead, focus on increasing your BTC since it supposed to be your goal.

No matter how hard BTC price pump or dump, just focus that you must always trade your altcoins back to BTC above on how much you purchased that alt.