Trading Altcoins with USD/USDT vs BTC?

[jerry0]

Hey all got a question.  So a while back when there weren't a ton of coins... main sites like coinbase/gemini etc allow you to buy sell btc/eth/ltc and it would be in FIAT... thus usd where you could cashout etc.  Then there were sites like bittrex which i used which apparently allowed you to trade altcoins... but when you did... it was either trading it for btc... or usdt.  Back then bittrex didn't allow you to cash out via fiat to your usa bank account.  I no longer can use bittrex because they banned my state... even though im abroad.



I then used binance to trade alts and they also did not allow you to cashout fiat to your bank account.  Can others confirm this?  Im talking about binance.com.  So basically for non americans... you use binance only to trade alts back to btc or usdt right?  Now for binance.US users... its only trading btc for altcoins and USDT correct?  There is not USD right as in fiat?



Now back then i recalled... other coins started being allowed to be traded for fiat in coinbase... like ripple, chainlink, dash etc.  Can someone here confirm this?  I recalled there wasn't more than max twenty coins that could be traded via fiat years ago... anyone can confirm this?




When i look at coinmarketcap... i know other exchanges that allow you to deposit/withdraw in fiat like kraken/bitstamp, i was shocked to see certain altcoins like NANO being able to be traded in USD.  Can anyone here confirm you could trade NANO in USD?



I also have waves and binance allows you to trade it in USDT.  But of course that isn't fiat.  But are there exchanges now that allow you to trade waves for fiat now?  Back then... i recall if you wanted waves... you had to trade btc for waves.  Then if you want to sell waves... you couldn't sell it for usdt.... only btc. 



I ask this because when i sell my waves, i obviously would prefer to sell it directly for usd or fiat.  Since if you sell it for btc first, well you going to pay a second fee right when converting the btc to usd?  Thus back then you had to pay two fees when going from many altcoins... to fiat?  Since it would be... sell altcoin for btc... sell btc for fiat?  The same as when you want to buy the altcoin?

[OcTradism]

With the on going hype of bitcoin, it is good if you are trading your altcoins with USDT/ USD. With the hype that is killing the altcoin price in BTC, it is stupid to trade with this pair.

To get short term profit, USD/ USDT
To invest long term and wait for double profits, BTC pairs for altcoins.

Use the first for short term profit and when hype of Bitcoin stops, use the second for long term, as it helps you to increase amount of bitcoin and in very long term, bitcoin will keep rising.

[michellee]

I think it depends on the altcoin movement because I see for the ethereum market that the price does not increase so high in ethereum pair btc, but the price increases higher in ethereum pair usdt. But at the other time, we will see that the ethereum price will increase high at usdt and btc, making you confused to decide. You need to check both pair usdt or bitcoin, so you can see which pair has good movements, so you can try to enter the market and buy low and sell high.

[jerry0]

Well my main question is... why aren't all altcoins traded against just fiat... thus usd? 


It doesn't make sense back then when many altcoins... you couldn't trade it directly with fiat... like if you wanted an altcoin, you needed to buy btc first, then buy the altcoin with btc.  And when you sell the altcoin, you need to sell it for btc... then sell it again for fiat in a fiat exchange.  Does that make sense what im asking?


I know binance.com doesn't allow fiat transactions... which just sounds stupid.  Like when you trade, shouldn't everything be traded against fiat?  Theres still lot of coins that could be traded only with usdt which i thought is stupid.