How does everyone trade? - page 2. | Bitcointalksearch.org

MissionPhailed

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

1. Where do you buy your bitcoin from

From Bitonic.nl, a well-known website in the Dutch crypto-community.

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2. What exchanges do you use

Bittrex nowadays. Used to be Cryptsy and BTC-e a while back. Then switched entirely to BTC-e, and eventually moved my activities to Bittrex.

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3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?

I do. I'd rather see an increase in value relative to Bitcoin than a higher value in $$$. However, in an ideal scenario, both values go up.

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4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

No, I withdraw via Bitonic.nl. I send them Bitcoins and they pay out the corresponding value in fiat on my bank account. In my case, Bitonic is both an entry and exit point in my trades.
And yes, the fees are pretty severe nowadays. Bittrex deducts 0,001 BTC per transaction, that's $4,4 nowadays ... !

Huonghoang1939

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

To start,

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. Where do you buy your bitcoin from
I bought it from friends that I trust and value it was not too expensive compared with the market. Bitcoin will be transformed from those of you that I trust to straight for trade page.
2. What exchanges do you use
I trade it in Poloniex and bittrex. two website that I most satisfied
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
When i buy alt coins and profit, I continue to convert it into BTC. If altcoin I buy is not profitable,i will keep it until it would have a profit I will sell out.
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.
only if I need money to buy something. I will sell Bitcoin for those of you at the beginning that I bought

Dudeperfect

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

1. Where do you buy your bitcoin from

- I usually go with Localbitcoins because I can choose the trader with payment method which is convenient for me.

Quote from: lokkom on August 21, 2017, 08:47:02 PM

2. What exchanges do you use

- I am current using Localbitcoins, Yobit and Changelly.

Quote from: lokkom on August 21, 2017, 08:47:02 PM

3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?

- I don't trade in Altcoins but I altcoins for the long term so I have cold storage of altcoins and never sold any of them yet.

Quote from: lokkom on August 21, 2017, 08:47:02 PM

4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

- Again, I use Localbitcoins when I need immediate cash and the reason is same as #1 I can choose the payment method which is convenient for me. Exchanges have the bank as the only payment option which is not always convenient for me.

mk4

legendary

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Paldo.io 🤖

Quote from: ranzonepro on August 27, 2017, 12:09:26 AM

Following my step, you easily earn ~50$ per day
1. Join Telegram Pump Group (Trusted)
2. Waiting for signal and pump waves
3. Do fast will earn about x2 your balance
4. Sell quickly or price down very fast

Stay away from Pump and Dump groups, OP. People benefiting from pump and dump schemes are usually only the higher-up members or the channel owner itself.

Anyway, you already got a lot of answers for your questions 1-4, so let's talk about the fees instead. You can save a bit of cash by buying bitcoin patiently, waiting for dips before buying(not saying it's always the right move, though). The fees you should only look out for in my opinion is the deposit and withdraw fees, as the exchange trade fees are usually so low that it's quite irrelevant in my opinion. Limit your withdrawals by probably once a week instead of daily to lessen the withdrawal/deposit fees.

webtricks

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

To start,

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. I buy BTC from local exchanges that allow instant buying using net banking directly.
2. Prominently Bittrex is my favourite due to its speed and reliability. Others are HitBTC, Cryptopia, Nova and sometimes Livecoin.
3. I never invest my bought BTC in altcoins, I always use earned BTC for altcoin trading so for me Altcoin/BTC is determining market, not Altcoin/USD. I never sell any coin lower than what I bought in BTC as that defeat my purpose of trading if I get negative return.
4. According to need I withdraw BTC to bank quite often but in local currency not USD again using local exchange as stated above.

The fees scenario depends upon how big you investing. If you are investing $40-50 ($10-20 in fees is horrible) but if you are large trader and work in grands then fees is least of concerning matter.

bobyhodob

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Activity: 1162

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

To start,

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. local exchanges
2. bitcoin.co.id for fiat exchanges and bittrex, poloniex for altcoins exchanges
3. I have a special capital to trading, if a profit over from my capital trading, I usually converted to fiat.
4. I convert from bitcoin to IDR (my local currency)

MoneyIsDebt

hero member

Activity: 642

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Quote from: JohnBitCo on August 27, 2017, 05:06:34 AM

Everyone trades using the same system the quarters up headquarters down. It's been used since economics has been around in the early 1930s when this system was first introduced. This is not a complicated thing this is not something special Bitcoin is considered a commodity and its price used to quarter up quarter down Theory.

nothing special !!
i think you just have to make sure that the site or the exchange you are using for it is confident or not.
just make your security enough to secure you account and start with a small amount gain some of experience and understand the whole idea of it and after that make it with your own senses and check the up and down of the coins from different sites and review the the altcoin section of this forum.
i think this will help alot.

aoihs00

sr. member

Activity: 700

Merit: 300

I buy bitcoins from the coinbase which is my favourite wallet but not the favourite exchange by the way. I will start taking profits from this step only by grabbing the bitcoin at lowest possible prices. Then I go to livecoin and transfer funds over there. If I want to buy altcoins then I will buy ether first from the MEW and will transfer that, if I want to trade against the ether. Whichever is beneficial. Rest I follow the sane strategy for day trading that is swing type trades. Once I get the profits I never store my altcoins I immediately convert them back to btc and back to my wallet. No this does not eat your profit at all. That's his everything works for me.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Everyone trades using the same system the quarters up headquarters down. It's been used since economics has been around in the early 1930s when this system was first introduced. This is not a complicated thing this is not something special Bitcoin is considered a commodity and its price used to quarter up quarter down Theory.

gribble

hero member

Activity: 966

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

To start,

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

Here i started trading bitcoins and altcoins
1. I bought bitcoins from Indonesian market bitcoins using fiat currency IDR.
2. I used the markets bitcoin.co.id and poloniex to traded bitcoins and altcoins.
3. I get the profit from trading altcoins be held on bitcoins
4. I don't converted from bitcoins to USD to withdrawal but i was converted to IDR to withdrawal.

Well i just paid the fees trading altcoins on poloniex and fees withdrawal of fiat currency because of becomed makers order on bitcoin.co.id i was free of fees trading.

ranzonepro

brand new

Activity: 0

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Following my step, you easily earn ~50$ per day
1. Join Telegram Pump Group (Trusted)
2. Waiting for signal and pump waves
3. Do fast will earn about x2 your balance
4. Sell quickly or price down very fast

newinbtc

legendary

Activity: 1190

Merit: 1001

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Answer 1 - Localbitcoins Best website to buy bitcoins From your own country payment methods
Answer 2 - Bluetrade ,
Answer 3 - No i do not convert back to btc , I reinvest my money to buy another altcoin
Answer 4 - Localbitcoins Same Method , I sell and buy bitcoins there , Many websites provides service to withdraw bitcoins into bank after KYC verification

mobnepal

legendary

Activity: 1218

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Quote from: lokkom on August 21, 2017, 08:47:02 PM

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

1. No any bitcoin trading platform accept bank deposits from my country so I have to buy bitcoin from a local guy at the rate he wants.
2. Currently I am using bittrex for most of my trading but yobit, poloniex, c-cex are few other exchanges where I occasionally trade.
3. I don't try to calculate my profit in terms of fiat, I will just convert all my alts if its price will increase in terms of bitcoin. I can hold bitcoin for long time and as bitcoin price will always tend to go upward, I can be assure that I will not loss anything in terms of fiat by doing so.
4. Mostly I sell my bitcoin to local guys at price of my choice which is currently 10% over market rate. Sometime if I am in hurry, I use my bitcoin debit card to cashout from local ATM.

cpfreeplz

legendary

Activity: 966

Merit: 1042

I just altcoin trade so I don't have to worry about all of that KYC bs and have to claim all of these little things on my taxes. What a mess that would be.

entrepmind23

sr. member

Activity: 644

Merit: 261

Quote from: lokkom on August 21, 2017, 08:47:02 PM

To start,

1. Where do you buy your bitcoin from
2. What exchanges do you use
3. When you buy alt coins and profit, do you convert back to btc? Because what if your profit from alt coins and convert it to bitcoins but bitcoins is low, doesn't that defeat your alt coin profit?
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.

Oh and this sounds like fees over fees.
First you buy bitcoins for fee. Then transfer them to a exchange for a fee. Then trading on that exchange is a fee. Then transferring it another place to withdraw, then the actual withdraw fee.

1. I am getting my bitcoin from various services that I work with like signature campaign, social media campaign and other sources. I don't buy bitcoin since it is pretty expensive when I use my fiat money so better work and have bitcoin as form of salary.
2. I use Bittrex to trade now. I use Poloniex before but there are some issues there that's why I transferred to Bittrex.
3. Yes I convert it back to BTC but I am not worried if the price of bitcoin is high or low since I just hold my BTC and not convert it to USD. Bitcoin is still going up as always so even if there is a correction in its price, I don't mind it since I believe it will recover and then go up again.
4. Sometimes, I convert some of my BTC because of some urgent needs or I just wanted to taste my profits but the amount is just minimal.

BCMB

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Quote from: lokkom on August 26, 2017, 03:11:55 PM

Okay can anyone answer this important question.

Say you bought 1 Bitcoin at $4000. Then you use that bitcoin to buy a alt coin at $5 each. So $4000 divided by $5 is 800. Which means I will have 800 alt coins. Then let's say 6 months later 1 bitcoin is $8000, and say the alt coin is now $6. Only a dollar increase. I go to convert the alt coin to bitcoin, won't I lose? Even though now alt coin is $6.

Because I have 800 alt coins worth $6 now. When you convert it back to bitcoins it is only $4800. Which is not even half a bitcoin. Which means I went from 1 bitcoin to almost half.

So investing in alt coins even if you profit is no good because bitcoin value is going up.

Or is my thinking and logic faulty?

You're making a lot of assumptions, but yes, in your example you would have been better off keeping your money in Bitcoin. You're assuming that Bitcoin is going to reach $8000 (double) and that the Altcoin is going to only go up $1 each. The altcoin could just as easily double as well. You have no way to know for sure. Thats why speculation isn't too far off from gambling.

lokkom

full member

Activity: 224

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Okay can anyone answer this important question.

Say you bought 1 Bitcoin at $4000. Then you use that bitcoin to buy a alt coin at $5 each. So $4000 divided by $5 is 800. Which means I will have 800 alt coins. Then let's say 6 months later 1 bitcoin is $8000, and say the alt coin is now $6. Only a dollar increase. I go to convert the alt coin to bitcoin, won't I lose? Even though now alt coin is $6.

Because I have 800 alt coins worth $6 now. When you convert it back to bitcoins it is only $4800. Which is not even half a bitcoin. Which means I went from 1 bitcoin to almost half.

So investing in alt coins even if you profit is no good because bitcoin value is going up.

Or is my thinking and logic faulty?

okissabam

sr. member

Activity: 700

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To answer some of your questions, I buy bitcoin through a local exchanger online then from there transferred it to Bittrex, that's the only exchange site I am currently trusting though I have Poloniex as well. At first when I gain profit from the altcoins I have traded I usually withdraw my capital and leave the profit behind and hold them for a long long time, but now I just hold most of my coins and don't convert them not unless if I really really need the money. And yes, there are a lot of fees every time you make a transaction so it's already expected and that's the reason why I don't withdraw yet the coins.

zulkarnaen

sr. member

Activity: 504

Merit: 250

So far I only trade altcoin in bittrex, although not every trading transaction i get profit, but over time i have been able to buy electronic goods from my earnings through altcoin trading in bittrex.

popie

newbie

Activity: 9

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I'm very new to the crypto market. I started using bittrex and it seems like a good and easy way to go.

Topic: How does everyone trade? - page 2. (Read 1543 times)