@HodorHodl you are a gentleman and a scholar. =)
@Delta. Because I happen to be nicer than you, let me explain.
The options I elaborated are the only two ways I know to be able to transact quickly from fiat currency through to altcoin. If anyone else reads this and knows another, dear lord please share.
1) Store fiat on buying platform like coinbase or use a CC
2) Buy a core trading coin there like BTC or ETH
3) Send trading coin to your alt coin exchange (e.g. binance)
4) buy magical coin and get stupid rich or go broke.
5) feel special or dumb.
For the credit card, just pay it off immediately before the interest hits and it won't cost fees. I am assuming you have enough money to be actually speculating safely and pay off your credit card bill. If you don't, you might be better of getting a job to make some.
May you find some degree of peace and politeness with your newfound micro-wealth.
Topic: Help! - How to trade altcoins? - Buylimit makes sence? (Read 149 times)
@New_Delta. There are a few ways to handle this.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
Hi Hodor
1) At Binance u can buy altcoins only for BTC or ETH (or Binance coin)
2) At Coinbase u cannot buy Altcoins at all
3) For credit card i will never use ´cause very high credit card fees. Anyway, again, u cannot buy altcoins direct for USD or EUR on binance or Coinbase
Sorry, but your post does not answer my questions; Is not helpful. Its just sh.. Sorry
Hi New_Delta,
First off, read back to learn who you're replying to. You didn't quote my post, you quoted N0One.
Secondly, you clearly didn't read his/her post either, as they gave good advice, which you apparently can't understand. Although you did thank them in one breath, then argued in the next.
So!
1) I know.
2) I know that too.
3) That's your problem. And also, I know.
So since "my" post didn't answer the questions you never fucking asked, let me comment on your reply.
You're an imbecile. Sorry.
@New_Delta. There are a few ways to handle this.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
Hi Hodor
1) At Binance u can buy altcoins only for BTC or ETH (or Binance coin)
2) At Coinbase u cannot buy Altcoins at all
3) For credit card i will never use ´cause very high credit card fees. Anyway, again, u cannot buy altcoins direct for USD or EUR on binance or Coinbase
Sorry, but your post does not answer my questions; Is not helpful. Its just sh.. Sorry
@New_Delta. There are a few ways to handle this.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
#1. Keep USD cash in an exchange wallet. Coinbase has one. It takes 5-7 business days to arrive, but at that point you can trade instantly with it. I try to keep 5k in there at all times (just refill as I use) for quick trade opportunities. It does take time to send mt BTC or ETH to the exchange I look to use, so its not instant but we are talking minutes not days.
#2. for small sums ($300-500), I have been able to use a credit card for instant coin purchases. Not much for my volume, but its something!
This is so relevant right now as I wish I could buy heavily and I am blocked waiting for my BTC to arrive, curse you fate.
Your welcome @HodorHodl.
Thanks N0One, this helped me 
You should count your gains in eth instead of fiat, eth is relatively stable and fluctuations in eth affect the valuation of all altcoins, just like btc. If you really need to count in USD you can sign up for bitfinex in a few days, they use USDT.
ETH is stable?? ETH went up 100% the last 10 days.. :-)
Thats not what "stable" means.
Binance where I am, has also USTD. But you cannot buy altcoins (or set a buy limit) directly from USTD. At first, one have to change USTD in ETH (or BTC) and then it is possible to buy altcoins.
I think in bitfinex will be the same (?)
You should count your gains in eth instead of fiat, eth is relatively stable and fluctuations in eth affect the valuation of all altcoins, just like btc. If you really need to count in USD you can sign up for bitfinex in a few days, they use USDT.
For me it was a lot easier to watch a bunch of youtube videos so I could see what they were doing. Buuuut, I guess I am more of a visual learner in that regard.
Also, if you want to trade bitcoin, if you buy it on something like coinbase or gdaxx they will let you send it for NO FEE. This can save you tons of money. If you have it your coinbase wallet you can log into gdaxx and transfer it over instantly, and then send it to another btc address for free.
Also, if you want to trade bitcoin, if you buy it on something like coinbase or gdaxx they will let you send it for NO FEE. This can save you tons of money. If you have it your coinbase wallet you can log into gdaxx and transfer it over instantly, and then send it to another btc address for free.
Thanks N0One!
I am also on Binance.
So... you do the same way as I do.. Except I was from begining trading in ETH (never in BTC because of the fees).
It is complicating to watch in both currencies (USD, ETH) .. I mean always to recalculate the real value. Lets say, a little bit annoying.
And yes, one feels uncomfortable to let trades sit for a longer time. When an Alcoin comes down, I at first need to buy ETH from USTD (Theter) and then buy the Altcoin. But This costs time - and in the meanwhile the altcoin increased again..
Sometimes there are hudge spikes down, but you cannnot cach them when you need too long until you are ready to buy.. Especcialy it happens at night while you are sleeping or on day when you are at work..
So I see, setting a low buy limit is not really possible (senceful). What a shame!
Was hoping someone found an "other" solution..
I am also on Binance.
So... you do the same way as I do.. Except I was from begining trading in ETH (never in BTC because of the fees).
It is complicating to watch in both currencies (USD, ETH) .. I mean always to recalculate the real value. Lets say, a little bit annoying.
And yes, one feels uncomfortable to let trades sit for a longer time. When an Alcoin comes down, I at first need to buy ETH from USTD (Theter) and then buy the Altcoin. But This costs time - and in the meanwhile the altcoin increased again..
Sometimes there are hudge spikes down, but you cannnot cach them when you need too long until you are ready to buy.. Especcialy it happens at night while you are sleeping or on day when you are at work..
So I see, setting a low buy limit is not really possible (senceful). What a shame!
Was hoping someone found an "other" solution..
Those are fantastic questions.
Choosing your marketplace
To begin, when choosing your marketplace / exchange, if Stellar (XLM) if you goal, you can choose a good marketplace from https://coinmarketcap.com/currencies/stellar/#markets. I personally prefer Binance and have bought a healthy stash of stellar there myself.
Which pairing to watch
I tend to watch both dollars and my core trading currency (BTC and ETH depending on the case).
USD (really your fiat of choice): I watch the dollar because I originally bought in to my trading currency using USD fiat currency and it is my benchmark for true return. So for example. I bought just over 1k USD in stellar a little while ago (via bitcoin). As the value changes, I know in real terms what that means to me. I have a ledger in a google sheet where I track any trade. In this case it was from BTC to XLM. I logged the coin trade value, and I calculate the value per coin in dollars at the moment of my transaction and the total value of the buy at that time. From there I can calculate my portfolio value.
BTC or ETH: I originally traded in BTC but due to the absurdly high fees and the growth of ethereum in the marketplaces, am moving to ETH whenever the option is present. In the case above, I watched the BTC <> XLM value carefully because I was holding btc, and the change in that case is a real value change, as where the fiat value (USD) at time of exchange is kinda irrelevant. Once the trade is done though, I no longer pay attention to the XLM to BTC exchange rate (unless I'm looking to buy more).
Sitting on Trades
I don't let trades sit more than a day or two for exactly the reason you mentioned. The market value of things is constantly changing and thinking and strategy for a buy needs to be nimble. I'm sure tons of other people here have great strategies and could educate me (I am not a commodities or currency trader by profession), but ultimately, I get educated, look for value, and buy reasonably and hold.
Choosing your marketplace
To begin, when choosing your marketplace / exchange, if Stellar (XLM) if you goal, you can choose a good marketplace from https://coinmarketcap.com/currencies/stellar/#markets. I personally prefer Binance and have bought a healthy stash of stellar there myself.
Which pairing to watch
I tend to watch both dollars and my core trading currency (BTC and ETH depending on the case).
USD (really your fiat of choice): I watch the dollar because I originally bought in to my trading currency using USD fiat currency and it is my benchmark for true return. So for example. I bought just over 1k USD in stellar a little while ago (via bitcoin). As the value changes, I know in real terms what that means to me. I have a ledger in a google sheet where I track any trade. In this case it was from BTC to XLM. I logged the coin trade value, and I calculate the value per coin in dollars at the moment of my transaction and the total value of the buy at that time. From there I can calculate my portfolio value.
BTC or ETH: I originally traded in BTC but due to the absurdly high fees and the growth of ethereum in the marketplaces, am moving to ETH whenever the option is present. In the case above, I watched the BTC <> XLM value carefully because I was holding btc, and the change in that case is a real value change, as where the fiat value (USD) at time of exchange is kinda irrelevant. Once the trade is done though, I no longer pay attention to the XLM to BTC exchange rate (unless I'm looking to buy more).
Sitting on Trades
I don't let trades sit more than a day or two for exactly the reason you mentioned. The market value of things is constantly changing and thinking and strategy for a buy needs to be nimble. I'm sure tons of other people here have great strategies and could educate me (I am not a commodities or currency trader by profession), but ultimately, I get educated, look for value, and buy reasonably and hold.
Hallo all! I am new in the Crypto world and have a fundamental question regarding trading, where I could not find an answer in internet at all. (by the way sorry for my bad English).
Let me devide my problem in the two questions below.
I am not sure about, how to watch on a crypto price. Example: Stellar Lumen (XLM).
1) When I follow and analyse a chart, should I watch on the XLM/ETH (or XLM/BTC) chart, or should I watch on the XLM/USD chart?? Background of my question is the following: I can only buy XLM with ETH (or BTC), because it is like that on an exchange platform, right? (no I do not want to sign on XLM platform directly and buy there for USD).
Therefore, I am "forced" to follow the XLM/ETH chart (I trade in ETH not in BTC), at least to know, where I bought, and where I will (want to) sell.
But the XLM/ETH chart is completely different compared to XLM/USD chart. E.g. in ETH Stellar Lumen came back nearly to the bottom (0,00035). This is a minus of about 88% from top (0,00117)! BUT, in USD Stellar lost only 55%.
I think the effect is because ETH at the same time won a lot, but USD is stable. Am I right?
How (where) do you follow your altcoin? Altcoin/ETH(BTC) chart or Altcoin/USD chart?
2) I would like to set a low buy limit (e.g. again for XLM). As mentioned I have to trade (to buy) with ETH. Lets say, the current XLM/ETH price is 100 and i put a buy limit on 50. Now lets say, after 1 week of waiting XLM/ETH price comes down and I buy for 50. BUT when XLM/ETH price comes down, also (mostly) other altcoins and sometimes (after a bearish crypto time) also ETH comes down. Then during my 1 week of waiting time also ETH lost in value. BUT I was waiting for the XLM/ETH price of 50 in ETH!
So here I do not understand, which sense does it make to set a low buy limit when ETH also comes down. I would like to "park" my money in USD and then set a buy limit and buy XLM for USD (and not for ETH), because ETH also comes down together with XLM. Then mayby i catched the 50 limit, but i have less ETH to buy XLM (ETH came also down).
So my question is, how do you solve this problem? Does it make sence to set up a low buy limit in ETH (or BTC)?
Think I did not understand something important. But by now, did not figure out what that could be :-)
Would appriciate a lot a helping answer!
Let me devide my problem in the two questions below.
I am not sure about, how to watch on a crypto price. Example: Stellar Lumen (XLM).
1) When I follow and analyse a chart, should I watch on the XLM/ETH (or XLM/BTC) chart, or should I watch on the XLM/USD chart?? Background of my question is the following: I can only buy XLM with ETH (or BTC), because it is like that on an exchange platform, right? (no I do not want to sign on XLM platform directly and buy there for USD).
Therefore, I am "forced" to follow the XLM/ETH chart (I trade in ETH not in BTC), at least to know, where I bought, and where I will (want to) sell.
But the XLM/ETH chart is completely different compared to XLM/USD chart. E.g. in ETH Stellar Lumen came back nearly to the bottom (0,00035). This is a minus of about 88% from top (0,00117)! BUT, in USD Stellar lost only 55%.
I think the effect is because ETH at the same time won a lot, but USD is stable. Am I right?
How (where) do you follow your altcoin? Altcoin/ETH(BTC) chart or Altcoin/USD chart?
2) I would like to set a low buy limit (e.g. again for XLM). As mentioned I have to trade (to buy) with ETH. Lets say, the current XLM/ETH price is 100 and i put a buy limit on 50. Now lets say, after 1 week of waiting XLM/ETH price comes down and I buy for 50. BUT when XLM/ETH price comes down, also (mostly) other altcoins and sometimes (after a bearish crypto time) also ETH comes down. Then during my 1 week of waiting time also ETH lost in value. BUT I was waiting for the XLM/ETH price of 50 in ETH!
So here I do not understand, which sense does it make to set a low buy limit when ETH also comes down. I would like to "park" my money in USD and then set a buy limit and buy XLM for USD (and not for ETH), because ETH also comes down together with XLM. Then mayby i catched the 50 limit, but i have less ETH to buy XLM (ETH came also down).
So my question is, how do you solve this problem? Does it make sence to set up a low buy limit in ETH (or BTC)?
Think I did not understand something important. But by now, did not figure out what that could be :-)
Would appriciate a lot a helping answer!
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