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Topic: Help me understand price conversion when buying Alts (Read 123 times)
Most major exchanges have previews of price conversions in usd in their orderbook sections, such as those on binance and kucoin exchanges.
 On Binance ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ | ⠀⠀⠀⠀ |  ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ On Kucoin
While some exchanges makes it possible to estimate that, there are always an easy way on such things while trading. For some obvious reasons, most crypto traders including myself prefers using the calculator to clear all doubts. I guess it's safer and better using the calculator to be on a safer side.
When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! That's what pairs do and if you want to convert or check the conversion of it into another pair, you have to do it manually if it's not on the exchange.AFAIK,there's no other way of doing that unless you code it and do the favor for yourself but it's going to be another app that you should open when you trade. When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! I don't use calculator on that particular side of trading, I just actually look on the total selling price before trading. Having quick decision is what I am all about, because once you're holdings got an active trading activities, certainly profit gains will be initiated. That's the time calculation happens if you think of investments over profit, it could be counted along the way. When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! Buying or investing means that you have done your research and supposedly have an entry point as well as a projected exit point; you can simply set your buy order at a particular price you believe the token will eventually trade. You do not need a calculator; you can easily use google search to calculate $ to eth decimals
Is simple, depends on your buying instantly or order.
If you want to buy instantly Total (Amount USD x Price Token/Coin) - 0.2% Fee from Exchange = The total coins you will receive, I believe this is the calculation for final amount you are receive. But when you make some order, some exchange have a promotion or service 0% fee when you place an order so the total coin you receive will be Amount USD x Price Token/Coin. When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! Obviously you can convert it manually if your exchange does not ahow it but the exchanges i usually use do show me fiat value as well so i do not have such issue but yes at decentralized exchanges we may face this but personally i have not felt this as a problem. When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! You have to be a big boy mate and pull yourself up by your jockstrap. It's irritating but yes, you have to keep a conversion calculator with you at all times so you can place orders correctly. If you don't, you'll lose the shirt off of your back while trading.Despite how easy the YouTube Crypto guru's make trading seem, it is very hard. You have to be able to read the order book and fully understand the ebb and flow of the depth charts and how to calculate your costs for trading, there is no shortcut. A lot of those gurus have been trading for years. I know because I too jumped in and thought that I could just start trading to take profit and got totally wiped out, literally. Remember to practice your due diligence and study. Some exchanges may calculate and convert to your local currency but others expect you to know how the books work.
I have the easiest way to do that but i don't think this will work on all of exchange site sbut i have been using this in various major exchange sites.
When you wanna determine how much USD cost for let's say 0.0008658 BTC and just click that price and it will be showing to the price box and move your cursor to the price box and wait a second or more and it will show how much cost in USD. You don't need to use calculator because the price box will calculate it automatically for you when you are clicking the price order in the market. It will be calculated automatically after will appear on the price box.
Crypto exchanges will not show the fiat based values when you are trading against another crypto to avoid confusion while making the trade orders. Probably you need to manually convert the value you are going to buy in fiat. For BTC pairs you can simply use Preev to identify every fiat value.
When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks! it depends on which exchange you are using, but yeah, if that is a crypto only exchange than it is usually all assigned in crypto in the long term that is a goal here, to replace fiat with crypto, and 1 BTC will always be 1 BTC, while $1 is sliding in purchasing value you can use this calculator to check USD value of something in case of need https://ethereumprice.org/calculator/
When you are buying alts on a crypto only exchange, is there an easy way to see the true fiat cost of the coin? Like the order book will say 0.00042 eth/coin. Do you just manually figure out the fiat cost by using a calculator? Or is there another easier way? Much easier to know something costs 2 cents vs figuring that out from eth price. Or am I just not understanding how this works? Thanks!
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