Converted all altcoin back to BTC - page 3.

fosco333

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Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

If you have many altcoins, then of course the fee will be high because you sell your altcoins multiple times.
In most exchange, using their coin to pay the trading fee will cost you smaller than not using it.
What exchange did you use to sell your altcoins ?

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Quote from: BUK2016 on April 08, 2019, 06:42:09 PM

Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

Converting all altcoins one is holding some times is not a very good idea because thatay make you loose that you hold in crypto currency.

The present market scenario is completely supportive to the tactics, because there isn't much of a mutual growth with altcoins along with bitcoin. There needs to be some form of growth with altcoins following the growth of bitcoin. Now people who have converted the altcoins back to bitcoin prior to the forward push of the market will be experiencing good profitability.

Isiaka208

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And what happens to the losses incurred as a result of that decision? Patience is more of a virtue in cryptocurencies.

BUK2016

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Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

Converting all altcoins one is holding some times is not a very good idea because that may makes you loose your hold in crypto currency.

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Quote from: Huntler1993 on April 08, 2019, 05:54:38 PM

That is really a bold decision, converting all your coins to BTC but trust me I do understand you. BTC never disappoint and always brings along with big profits. Unlike some Alt that could remain in the dip forever BTC always shows it strength and resilience.

BTC is a bigger power and he will be profitable but what you do to change Altcoin becomes BTC think again, because BTC is expensive and you can lose all Altcoin to get BTC.
preferably later if you benefit from the Altcoin you have then you can change it to BTC.
but it's up to you, hopefully the choice you choose is the best.

emberbekas

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Quote from: Jackrodwell on April 08, 2019, 01:28:05 PM

Quote from: 10BTCaDay on April 04, 2019, 03:51:17 PM

I do not think that now is a good time to sell all altcoins and keep only Bitcoins. so far the situation is not clear.

Good point, it's a time to keep studying and learning, because right now nothing is clear to so many users and holders,so for me am learning not to make wrong move.

For some people, having lots of coins will be difficult to manage because it will take a lot of effort to check one by one regularly. For me, it would be better to convert unpopular coins, when it has value, into bitcoin to make it simpler. For those who have a lot of free time they might be able to check the development of all the coins they have but it will definitely be very boring thing to do.

Huntler1993

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That is really a bold decision, converting all your coins to BTC but trust me I do understand you. BTC never disappoint and always brings along with big profits. Unlike some Alt that could remain in the dip forever BTC always shows it strength and resilience.

Altero

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In many instances that we have to do it knowing that BTC is more growing coins today that to stick with the altcoins. We need to act immediately before losing our opportunity to gain more profits cause that is actually we want for. Its a common strategies for traders to diversify our portfolio and look for the most profitable one.

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It seems that we are on an increasing market lately. It is recovering slowly but still going upward. In those kind of markets BTC usually is loosing it`s market dominance as altcoins are increasing faster. That being said turning alts to BTC at this moment does not look the smartest move.

swetka

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Quote from: Fammosh82 on April 08, 2019, 01:57:09 PM

With Bitcoin seeing all time highs of over $19,000 USD during the bull market top in 2017, the nature of the crypto market changed. New users might be looking for ways to bridge the gap between cryptos and fiat currency, and see how the interchange between the two systems works.

There are multiple ways to go about doing this. People may worry about cashing out large sums of money and want to make sure everything is safe and secure, and that is a good idea.

For a long time I will think about those users of cryptocurrency who invested their money in cryptocurrency at the end of 2017. in fact, there is no reason for them to sell today to transfer their funds to Fiat.

Fammosh82

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With Bitcoin seeing all time highs of over $19,000 USD during the bull market top in 2017, the nature of the crypto market changed. New users might be looking for ways to bridge the gap between cryptos and fiat currency, and see how the interchange between the two systems works.

There are multiple ways to go about doing this. People may worry about cashing out large sums of money and want to make sure everything is safe and secure, and that is a good idea.

Christinebeauty

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Although its good to hold some BTC as one of the coins in your portfolio, at least you should keep some Altcoins too. Some of them can fetch you some good profit.

karankamaze

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Quote from: Jackrodwell on April 08, 2019, 01:28:05 PM

Quote from: 10BTCaDay on April 04, 2019, 03:51:17 PM

I do not think that now is a good time to sell all altcoins and keep only Bitcoins. so far the situation is not clear.

Good point, it's a time to keep studying and learning, because right now nothing is clear to so many users and holders,so for me am learning not to make wrong move.

therefore we also have to learn to take risks, one of which is choosing Bitcoin as the only investment because in my opinion Bitcoin is very feasible to have from any altcoin.
so in my opinion currently switching our altcoins to BTC is a not bad choice.

Jackrodwell

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Quote from: 10BTCaDay on April 04, 2019, 03:51:17 PM

I do not think that now is a good time to sell all altcoins and keep only Bitcoins. so far the situation is not clear.

Good point, it's a time to keep studying and learning, because right now nothing is clear to so many users and holders,so for me am learning not to make wrong move.

Adhichan

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Quote from: Ararbermas on April 08, 2019, 12:40:25 AM

Think before making a decision to prevent regrets mate. Because that is a wrong move actually IMO especially on this situation which is Bitcoin still hovering and keep showing potentials to increase more unlike alts which is still uncertain . So think it first and make it sure to avoid mistakes

convert all of our altcoin to bitcoin actually not bad decision.bitcoin has good future and moreover its price start recovery now.usually investors convert their altcoin now.and we see this in market ,only major coins rise at this moment.

Ararbermas

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Think before making a decision to prevent regrets mate. Because that is a wrong move actually IMO especially on this situation which is Bitcoin still hovering and keep showing potentials to increase more unlike alts which is still uncertain . So think it first and make it sure to avoid mistakes

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Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

No, not yet much. I still expecting a huge impact on my tokens so I don't convert it to bitcoins for now by the way. Maybe I will diversify it to ETH, XRP, cardano and LTC. Those coins will be an entry level if combined then compared to bitcoin in the future.

Pamadar

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Quote from: smyslov on April 07, 2019, 10:00:12 PM

Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

I'm doing the same, and it's expected now that the bull run is coming, not that I don't trust some of my altcoins, but I have a fear of projects being left by the developers, it happen to me several times where for some unknown reason these developers suddenly did not update their platform anymore.

That's the risk of holding Alts, a wise decision from your end since you already experienced bad things from the past,, converting your assets to Bitcoin and wait till everything got the momentum and rise high again, it's always the best assets to hold from this industry.

bhabygrim

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Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

I couldn't say that it was a good or wrong move,
Because there are so many alt-coin that have been worthless so if your alt is one of those then you made a good move even though you paid a lot of fee.
But if your alts are in the top list then you provably made the wrong move since most of them are going to rise up .

smyslov

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Quote from: kingplaya4 on April 04, 2019, 03:10:07 PM

Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.

I'm doing the same, and it's expected now that the bull run is coming, not that I don't trust some of my altcoins, but I have a fear of projects being left by the developers, it happen to me several times where for some unknown reason these developers suddenly did not update their platform anymore.

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