Can i hold USD balance over exchange?

cafucafucafu

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Quote from: Chevas Regal on May 27, 2017, 09:42:02 PM

Quote from: agentx44 on May 27, 2017, 06:55:37 PM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

Yes it is. You can exchange btc for usd but it doesn't grow. I think its only purpose it to make btc holders convert into fiat money ig they feel it would volatile.

You are right , I dont know about USd but i traded USDT yesterday over Poloniex , even USDT is very volatile , suddenly price went down to 1570 and i thought what it is happening , I made a sold of BTC @ 1650 , and bought gain back the btc @ 1800$ , i made a loss. it was a bad experience.

Pegged cryptocurrencies can still fluctuate in value a lot depending on the method by which they are pegged to the fiat currency. For example Steem dollars is currently at $1.2+ apiece and it is supposed to be worth $1. Tether was at around $0.96 before because of the Bitfinex withdrawals fiasco. But now it's risen again. I suggest using Wirex or Xapo, both of which have "hedged accounts" where you can hold USD directly, and exchange rates aren't that bad.

If you are looking for a mobile wallet try mobi, you can even hold gold and silver.

Chevas Regal

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Quote from: agentx44 on May 27, 2017, 06:55:37 PM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

Yes it is. You can exchange btc for usd but it doesn't grow. I think its only purpose it to make btc holders convert into fiat money ig they feel it would volatile.

You are right , I dont know about USd but i traded USDT yesterday over Poloniex , even USDT is very volatile , suddenly price went down to 1570 and i thought what it is happening , I made a sold of BTC @ 1650 , and bought gain back the btc @ 1800$ , i made a loss. it was a bad experience.

agentx44

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Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

Yes it is. You can exchange btc for usd but it doesn't grow. I think its only purpose it to make btc holders convert into fiat money ig they feel it would volatile.

digaran

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So what the fack were you doing all this time if not trading BTC/USD?I bet you were sleep walking as an old trader dude.
I have tried this many times but came to the conclusion that if I trade Bitcoin with alts I can profit more than the normal BTC/USD trading.

Eclipse26

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Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

Yes you can buy USD for bitcoin to avoid volitality. This is not available for all exchanger. However, there are many exchangers tha has it to protect money loss from volitality in crypto currency.

PokerFace3

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Quote from: beerlover on May 27, 2017, 01:22:48 PM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

What you are looking for is nothing short of actual trading. Every trader will be doing this. You can simply do this with Xapo wallet itself.

I just wonder why OP is getting confusion for doing this ? Probably he got messed up real time selling/buying with trading's buying/selling. We need to understand that what we are doing with exchanges is nothing but real time businesses. For example, the currency exchanges we are doing with other members in this forum has no difference from actual trading.

Quote from: beerlover on May 27, 2017, 01:22:48 PM

If you are looking for specialised exchange for doing this then BTC-e will be the right place as per my experience. Poloniex will be allowing to do this but with USD-tether.

We can do this with any exchange where bitcoin <-> fiat trading is being conducted. But some exchanges are not allowing fiat withdrawals and we need to keep holding fiat balances with them until we decide to buy back bitcoins and then we can withdraw bitcoins.

beerlover

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Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

What you are looking for is nothing short of actual trading. Every trader will be doing this. You can simply do this with Xapo wallet itself. If you are looking for specialised exchange for doing this then BTC-e will be the right place as per my experience. Poloniex will be allowing to do this but with USD-tether.

AdolfinWolf

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Quote from: SONG GEET on May 27, 2017, 11:56:33 AM

Quote from: Chevas Regal on May 27, 2017, 11:09:47 AM

I tried usdt over Poloniex today and lost 0.19 btc in it. I am done with this now, I am good with alts trading..Should not dig mind into something which is new for me.

How you lost 0.19BTC there? Currently USDT is overvalued, it's value is over 1 USD which is quite unusual so don't hold USDT for time being.

I also use poloniex to remain in safe side during huge pump and correction, usually I sell at peak price and wait till correction to buy cheaper. Recently sold around 1BTC when price was near 2700$ and bought at 1700$. $1000 in pure profit Grin

Wait, so did you sold your bitcoin on poloniex for USDT to get that 1000$ profit? I'm curious to know if that is the most profitable way to do it.

Don't like the fact that USDT is going up, and i don't understand it either. The coin is backed 1:1 right? Why are people offering so much more then... Seems pretty damn weird to me.

SONG GEET

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Quote from: Chevas Regal on May 27, 2017, 11:09:47 AM

I tried usdt over Poloniex today and lost 0.19 btc in it. I am done with this now, I am good with alts trading..Should not dig mind into something which is new for me.

How you lost 0.19BTC there? Currently USDT is overvalued, it's value is over 1 USD which is quite unusual so don't hold USDT for time being.

I also use poloniex to remain in safe side during huge pump and correction, usually I sell at peak price and wait till correction to buy cheaper. Recently sold around 1BTC when price was near 2700$ and bought at 1700$. $1000 in pure profit Grin

clickerz

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Quote from: iram3130 on May 27, 2017, 11:07:47 AM

Quote from: ethereumhunter on May 27, 2017, 10:16:04 AM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

you have balance in USD in poloniex, bittrex, livecoin and other market exchanges, but first you need to sell your bitcoin when the price is reach at $2000 USD and to see this price again, you need to wait again. if you sell 2 btc at $2000 then you can have $4000 and now if you bought then your btc is increase at least 2.10 btc and you can profit 0.10 btc.

You have been trading Bitcoin from old times and you don't know this.? How did you buy BTC at first?
The thing you explained, that's how everyone trade. We sell bitcoin for Dollars, hold dollars when Bitcoin is falling and but them back at the lowest about wait for pump.

At first this is also my question, how he had started trading and how he fund his trading account. But it is possible that he started from nothing but only internet connection and a device to access an internet. Then, joining some campaign after several months and traded his bounty to bitcoin or the bitcoin - altcoin pair.

To, OP I think almost all exchanges offers btc/dolalr pair and you can try this one. The btc - dollar market is quite popular also.

AdolfinWolf

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Quote from: Chevas Regal on May 27, 2017, 11:09:47 AM

I tried usdt over Poloniex today and lost 0.19 btc in it. I am done with this now, I am good with alts trading..Should not dig mind into something which is new for me.

Are you talking about USD-T cryptocoin? The coin is supposed to have the same value as the dollar, and is available at poloniex. I find it quite useful to use sometimes if bitcoin has really high prices, but currently USDT has a premium of around -/+ 10%, which is pretty bad.

This is the coin https://tether.to/

https://coinmarketcap.com/assets/tether/

Chevas Regal

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I tried usdt over Poloniex today and lost 0.19 btc in it. I am done with this now, I am good with alts trading..Should not dig mind into something which is new for me.

iram3130

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Quote from: ethereumhunter on May 27, 2017, 10:16:04 AM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

you have balance in USD in poloniex, bittrex, livecoin and other market exchanges, but first you need to sell your bitcoin when the price is reach at $2000 USD and to see this price again, you need to wait again. if you sell 2 btc at $2000 then you can have $4000 and now if you bought then your btc is increase at least 2.10 btc and you can profit 0.10 btc.

You have been trading Bitcoin from old times and you don't know this.? How did you buy BTC at first?
The thing you explained, that's how everyone trade. We sell bitcoin for Dollars, hold dollars when Bitcoin is falling and but them back at the lowest about wait for pump.

Ayiranorea

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Quote from: Idrisu on May 27, 2017, 02:14:39 AM

Very possible on http:/www.livecoin.net. You can coverts your bitcoin and others crypto currencies to USD and hold them. My problems with them is just that there charges is too high for withdrawal. You need to visit they site to find out for yourself USD withdrawal charges in other to understand what I am saying.

As quoted livecoin gives the access to hold in terms of USD. It that simple just make a selling order in exchange for USD and if you wish you could withdraw to your account. It has got some limitations in the regular withdrawal.

Humanxlemming

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Yeah it's so easy to hold USD over the exchange, but first you need to have Bitcoin that you will sell to have USD. holding USD for a longtern run is a nice and profitabke like uf you have 2BTC and sell it wheb bitcoin price is just $1,600 and as what you see if you buy in $1,600 and sell it now in $2,000 you gained a nice profits

ethereumhunter

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Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

you have balance in USD in poloniex, bittrex, livecoin and other market exchanges, but first you need to sell your bitcoin when the price is reach at $2000 USD and to see this price again, you need to wait again. if you sell 2 btc at $2000 then you can have $4000 and now if you bought then your btc is increase at least 2.10 btc and you can profit 0.10 btc.

frowsiter

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Tu can do that almost on every good exchanger
On top of that you can also put your money into bitcoin wallet in the form of USD. I mean if you have bitcoin worth 2 Btc then you can just hold into your wallet and convert it into USD. The USD amount will still remain on your wallet only.

cpfreeplz

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This is exactly what tether and other cryptocurrencies promised to do but as you can see tether is all over the place lately. 90% a month ago, 106% today. It's still a relatively stable currency but it won't be a dollar for dollar match anymore. Maybe someone else has a better algorithm than them.

dady12

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Quote from: hajimasan on May 27, 2017, 02:42:59 AM

Quote from: Chevas Regal on May 27, 2017, 01:00:03 AM

I am curious if it is possible?

lets say,I have 2 BTC over some exchange, presently bitcoin price is 2000$ , so basically i have 4000$, now the price of bitcoin fell to 1000$ , so the total value is 2000$. Is there any way so that i can convert the 2 btc at the time when btc wad 2000$ to usd, and when it goes back cheap i buy it with the usd at the exchange?

I herd someone told me yes, if yes then please let me know the exchange which support such thing. i have been trading BTC since old time but never came across that we can even trade usd with BTC as a pair.

This totally simple thing in Bitcoin trading .
Since most of the people are doing this in the P2P deals at localbitcoins.com and other exchange but here the simple way to trade with btc/USD is available at almost every exchange .
Here I am a user of the yobit , poloniex and at the both the option of the USD/BTC is available , so you can easily make trading according to the market .
Now here I will advice you to use poloniex because there is auto buy sell for the users (option is available in the mid of horizontal of the buy and sell box )
So just go at these two exchange and first try to understand that the thing is true that I said .
Be careful never out all of your money at the exchange , because it may be possible that due to some technical problem the problem of the withdrawal arise and in that case you can't use your money .

how does this auto buy sell work on poloniex?remember the OP want to sell his bitcoin and keep the equivalent of that bitcoin in US dollars to my understanding and this is what most of us want to know how it is done but your explanation doesn't fit to what we are expecting,it will good if you make it clear for us

Sniper44

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Quote from: Idrisu on May 27, 2017, 02:14:39 AM

Very possible on http:/www.livecoin.net. You can coverts your bitcoin and others crypto currencies to USD and hold them. My problems with them is just that there charges is too high for withdrawal. You need to visit they site to find out for yourself USD withdrawal charges in other to understand what I am saying.

can you explain to us what is so special about livecoin?
what OP wants is a pretty simple thing where he sells his bitcoin to fiat but doesn't withdraw, the USD value remains in his "account balance" on that exchange until he decides to do something with it like buying back bitcoin that he sold at lower prices.

this is actually what all the Chinese traders have been doing, they didn't have any withdrawal option for the past couple of months so all they did was what OP wants.

Topic: Can i hold USD balance over exchange? (Read 1093 times)