Topic: How does everyone trade? - page 3. (Read 1543 times)
I used to buy bitcoin last year when it is about $500-$600. Now, I'm not anymore. I may still if I have to. In my case, I always find to make bitcoin either via trading or services hence not into buying. I used to trade manily at Polo, but I'm at bittrex now. However, I trade everywhere for arbing if there's a chance. I only convert to my local currency when I needed it.
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
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 some bitcoins from my local exchanger and i also earn it some from services.
2. I usually use bittrex, hitbtc, poloneix and livecoin. It's depend on what altcoin i want to trade because some exchanges not provide that altcoin.
3. Yes, i always convert it back to bitcoin and withdrawal it into my wallet. Actually i always trading from altcoin to btc.
4. No, just withdraw bitcoin and i convert it into fiat with local exchanger.
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
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 it from a local exchange where it is convenient to buy and sell. I also use localbitcoins from time to time.
2. I use poloniex, bittrex, yobit, kraken, etc. depends on where the altcoin I am looking at is cheaper or more expensive
3. Uhh, you can't profit unless you convert it back to BTC. :/
4. Uhh, you cannot withdraw your money if it is not fiat. You cannot cash out bitcoins as a physical bitcoin. :/
Fees are fees, you have to deal with it. That is why if you are trading you need to take those into account.
Everybody has their own strategy to trade with cryptocurrencies. I use localbitcoins to buy and exchange crytocurrencies.
I usually trade some major altcoins but i have kept bitcoin as my primary digital currency.
I usually trade some major altcoins but i have kept bitcoin as my primary digital currency.
1. Where do you buy your bitcoin from
I have bought from bitfinex but mostly I use localbitcoins to buy with local currency directly.Quote
2. What exchanges do you use
bitfinex mostly but since I am more of a altcoin trader I am on bittrex most of the times.Quote
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 buy altcoins with fiat to want to "convert back to bitcoin". I buy they with bitcoin and sell them for bitcoin too. this means for example I invest 1BTC and get 2BTC out, so automatically my profit is saved in bitcoin form and there is nothing called "bitcoin is low", bitcoin is always rising at all times. even after the recent correction price is still 280% higher than the start of this year! and will be higher next year and next year, and so on.Quote
4. Do you convert from bitcoin to usd to withdraw? If so where do you withdraw and which method do you use.
no, I am a hodler so I hodl bitcoin for long term. sometimes I sell some small amounts if I need money or if I want to get something out to keep myself happy with fiat profit. but it rarely happens and it is always a small amount.Quote
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.
the fees, no matter how many they are or whatever, should be much lower than your profit. if they are not that means you are doing something wrong and maybe trading is not meant for you. 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’s my answers to your questions.
1. Usually, I buy from coinbase or localbitcoin
2. Poloniex, Bittrex and Liqui
3. Yes I convert alt coins to BTC. I don’t think it defeat my alt coins profit since I gain more BTC when selling alt coins.
4. Same thing, I withdraw using coinbase or localbitcoin.
1. Usually, I buy from coinbase or localbitcoin
2. Poloniex, Bittrex and Liqui
3. Yes I convert alt coins to BTC. I don’t think it defeat my alt coins profit since I gain more BTC when selling alt coins.
4. Same thing, I withdraw using coinbase or localbitcoin.
I mostly use QuadrigaCX for selling Bitcoin, but depending on if I just need some quickly I might buy from Coinbase simply because of the easiness factor. For trading alts I use Bittrex.
There definitely can be a lot of fees involved, and recently the transfer fees have been higher than in the past (dollars as opposed to cents). Buying from an actual exchange (vs Coinbase or an ATM) will cut down on some of the fees as well.
There definitely can be a lot of fees involved, and recently the transfer fees have been higher than in the past (dollars as opposed to cents). Buying from an actual exchange (vs Coinbase or an ATM) will cut down on some of the fees as well.
Thanks but I'm looking to answer those questions specificly.
I trade in Bittrex, I choose a coin that is experiencing a 20% price reduction. You can buy several coins that have large volumes. After that if you already buy then you just do sell at a decent price.
The profits can be redeemed to Fiat. up to you
The profits can be redeemed to Fiat. up to you
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
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.
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