Topic: Bitcoin as entrance point (Read 166 times)
I would not say it is monopoly, just the market works that way at the current moment and you can do nothing about it. Just search for new possibilities and opportunities.
What I use is bitcoin but we can use Cryptos to enter nothing .this happens in bitcoin as a long spread that support the proper wah.it can also be changed for any way to convert cash to others alts for example you can buy ETH from a coinbase somehow to start with instead of bitcoin .for me it is the easiest coin for people to change and enter the ctypto.binance is an example of how to enter a purchase alts.other than a nice way of thinking .its true that monopoly handling is going to get into small coins.
Bitcoin have paved the way for other cryptocurrecies to start appearing, but it is not a monopoly. Users can still choose whether or not they want to use btc.
Not a monopoly really, but since it's very widespread, I think overall it is the easiest coin for people to purchase and enter the crypto scene. Binance for example allows you to purchase altcoins with eth, which is a nice option in my opinion.
yes, and btc was the og cryptocurrency. That's why everyone else is called an alt
I think that's not exactly correct. Your coin purchase may not be distributed by ETH. Bitcoin does not occupy a monopoly position in this market. It is a coin representing the market, so it is possible to convert it to other coin. In addition, there are many other coin also growing like ETH, ETC, BTH, ... It helps the virtual currency market become richer.
If you are talking about ERC20 tokens than you can buy it directly with ETH through etherdelta or from different other exchanges where they offer ETH based pairs.
You can also buy ETH directly with your fiat from gdax, bitpanda etc. So no you don't need to always buy bitcoin first.
Many people keep shifting from bitcoin to eth and back to make profit so trading volume on btc based pairs always remain higher than ETH based pairs.
You can also buy ETH directly with your fiat from gdax, bitpanda etc. So no you don't need to always buy bitcoin first.
Many people keep shifting from bitcoin to eth and back to make profit so trading volume on btc based pairs always remain higher than ETH based pairs.
It is the largest pairing but by no means it is the only way available. You can trade with ETH like you said also with LTC, DOGE, ADA, EOS, USD, GBP, NDZT, and many more. It depends what exchange you are on because most exchanges have now a fiat and altcoin pairings like Cryptopia for example has a whole section for NDZT and altcoins. Have a look at coinmarketcap it will help you show what is out there for each coin.
When you want to contribute to an ico, they offer you the opportunity to contribute with Bitocoin, Ethereum, Litecoin and so many other coins, i dont know why you are saying that you can just put money with btc.
because it is false, and you can easily buy with ethereum because the coins will automaticaly be sent to your eth address if you invest money with this coin.
Just make a little research before posting this kind of questions, because everytime that you join an ico website, they have a big letter that says "Eth contributions"
because it is false, and you can easily buy with ethereum because the coins will automaticaly be sent to your eth address if you invest money with this coin.
what is the reason that can only buy a lot of the ERC20 tokens with BTC and not ETH for example? Does Bitcoin actually holds a monopoly to enter small coins?
Just make a little research before posting this kind of questions, because everytime that you join an ico website, they have a big letter that says "Eth contributions"
I've only used bitcoins but you can use other cryptos to enter this field, it just happens the bitcoin being more widespread is better supported. There are exchanges out there where you can choose to convert your cash to other alts, for example you can buy eth from coinbase if you opt to start with that instead of btc.
To me it seems like BTC is the entrance point to a lot of the other cryptocurrencies. If I go to the exchanges, what is the reason that can only buy a lot of the ERC20 tokens with BTC and not ETH for example? Does Bitcoin actually holds a monopoly to enter small coins?
That's rason is you will find the many project owners advertising like don't miss the opportunity with the example of pizza story and many newbies believing that and buying that concern altcoins with the cheap price with the cash.
I do not invest on altcoins expect the ETH and LTC as of now. If I found the potential only I would like to go with the investment on that project.
To me it seems like BTC is the entrance point to a lot of the other cryptocurrencies. If I go to the exchanges, what is the reason that can only buy a lot of the ERC20 tokens with BTC and not ETH for example? Does Bitcoin actually holds a monopoly to enter small coins?
It says junior member but it seems you are newbie. You can buy altcoins with ethereum, doge, waves, monero and so on. On some exchanges you can trade eth-erc20 only.
Do deep research about exchanges first.
Not a monopoly really, but since it's very widespread, I think overall it is the easiest coin for people to purchase and enter the crypto scene. Binance for example allows you to purchase altcoins with eth, which is a nice option in my opinion.
To me it seems like BTC is the entrance point to a lot of the other cryptocurrencies. If I go to the exchanges, what is the reason that can only buy a lot of the ERC20 tokens with BTC and not ETH for example? Does Bitcoin actually holds a monopoly to enter small coins?
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