Topic: A Question about the Value of Altcoins (Read 126 times)
Yes exactly. Sucks that no one cares to answer :/
This is really interesting question because in most cases altcoin price that falling to Bitcoin stay quite stable or even grow in USD. But not all altcoins could be sold for dollars to get fairly profit.
Hello friends. If anyone wants to skip this introductory part about me, feel free to do so!
I am pretty noob in the cryptoworld. I did my first purchase through Coinbase at 1st of December. I have tried selling them on localbitcoins thru PayPal (yeah I was dumb as a brick), so not very surprisingly I got fucked over by a scammer around 1000 $. That was a huge lesson for me where I have met with the taste and power of mighty HODLING. Recovering through my despair, I purchased more BTC from Coinbase and I sailed onwards to Binance 3 days ago. Here I really would like to thank you for the valuable input, because I have basically guided my altcoin investments from the arguments mostly presented here. My investment that was worth 650 $ several days ago now worth over 800 $! If anyone wonders my investments so far, I have around 800 ADA, 190 XRP, several IOTAs and half an ether. Additionally, I would like to purchase XTRABYTES, Stellar, Nem, Tron and possibly some EOS, QTUM and Waves.
To the question which really grinds my gears!
The question is when I monitor the coin prices in coinmarketcap, I was only looking at the USD pricing. However, I realized that to be able to withdraw your funds at the very end (I do not know for now how long I will keep my coins, but let's say some day), eventually you have to go back to USD. Granted that you can pretty much only sell BTC/ETH/LTC at this point to actually retrieve your money back which I cannot do it on binance and I have to transfer my funds to another market or sell it the big vendors like Coinbase, I felt like the USD value of your altcoin is not that important but their corresponding BTC/ETH/LTC equivalents are what matter. And yes, I know I should not be keeping my funds at an online stock, but I will change it whenever I can figure a manageable approach, however, I guess I am doomed to have several wallets to house my alts.
Can anyone who is experienced in this field shed some light on this? Does a coin's USD equivalence price hold any importance at all? Is there an optimal way -even a better way that I really haven't considered- to convert your money back to USD?
PS. I am purchasing through Coinbase, simply because I am on the waiting list of other markets and they are taking a very long time to respond! If you happen to have advice regarding a cheaper way to purchase, I lay my ears on you.
Thanks for the feedback. Much appreciated. Wish you all a happy Xmas with loads of moons!
I am pretty noob in the cryptoworld. I did my first purchase through Coinbase at 1st of December. I have tried selling them on localbitcoins thru PayPal (yeah I was dumb as a brick), so not very surprisingly I got fucked over by a scammer around 1000 $. That was a huge lesson for me where I have met with the taste and power of mighty HODLING. Recovering through my despair, I purchased more BTC from Coinbase and I sailed onwards to Binance 3 days ago. Here I really would like to thank you for the valuable input, because I have basically guided my altcoin investments from the arguments mostly presented here. My investment that was worth 650 $ several days ago now worth over 800 $! If anyone wonders my investments so far, I have around 800 ADA, 190 XRP, several IOTAs and half an ether. Additionally, I would like to purchase XTRABYTES, Stellar, Nem, Tron and possibly some EOS, QTUM and Waves.
To the question which really grinds my gears!
The question is when I monitor the coin prices in coinmarketcap, I was only looking at the USD pricing. However, I realized that to be able to withdraw your funds at the very end (I do not know for now how long I will keep my coins, but let's say some day), eventually you have to go back to USD. Granted that you can pretty much only sell BTC/ETH/LTC at this point to actually retrieve your money back which I cannot do it on binance and I have to transfer my funds to another market or sell it the big vendors like Coinbase, I felt like the USD value of your altcoin is not that important but their corresponding BTC/ETH/LTC equivalents are what matter. And yes, I know I should not be keeping my funds at an online stock, but I will change it whenever I can figure a manageable approach, however, I guess I am doomed to have several wallets to house my alts.
Can anyone who is experienced in this field shed some light on this? Does a coin's USD equivalence price hold any importance at all? Is there an optimal way -even a better way that I really haven't considered- to convert your money back to USD?
PS. I am purchasing through Coinbase, simply because I am on the waiting list of other markets and they are taking a very long time to respond! If you happen to have advice regarding a cheaper way to purchase, I lay my ears on you.
Thanks for the feedback. Much appreciated. Wish you all a happy Xmas with loads of moons!
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