How to change trading pairs on existing holdings?

CryptopreneurBrainboss

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Quote from: moonshine1999 on January 19, 2024, 11:01:59 AM

Amazing, thanks everyone.
If it makes no difference to long term value of the coin, if I originally bought it with USDT pair or BTC pair, then I’ll just leave everything as it is.

Glad you get that now because as I read the first replies they weren't not understanding you and I was about clarifying what you just said above. It doesn't really matter which pair you bought but if you're tracking your portfolio with satoshi value and not just USDT value you'll understand why altcoins aren't been advice to hodl on the forum. While as you'll make profit in USD value but you'll keep getting lesser sats value so technically it would had been better to hodl Bitcoin instead of the altcoin you bought.

Let say you bought 1 ETH for 0.05 BTC (and the value was $2,500) when you want to sell in the future, you could have double your profits in USD by selling that 1 ETH for $5000 but with a lesser BTC value ( lets say 0.04) so while you made profits in USD you lost in BTC because Bitcoin increase in value and it would had been better just holding BTC).

Don't store your coins on exchanges, altcoins are a gamble so I don't hodl it against you if you want to gamble but don't trust centralized exchanges nor wallet providers to store your coin with them for a long time. They can be hacked quite easily and they can freeze your assets not giving you control of the coins you think you own when storing them on their platform.

Saint-loup

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The only thing you can do is to find an exchange CEX or DEX listing those cryptos against BTC otherwise you will need to track the price of Bitcoin in USDT and to make the conversion by dividing the price of the cryptos in USDT by the price of Bitcoin (in USDT), that is to say by 42000 currently. And then if you want to sell some cryptos you will need to sell them for USDT and to buy BTCs with this amont immediatly.

cryptoaddictchie

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Quote from: moonshine1999 on January 18, 2024, 08:31:24 PM

Hi Everyone,

I have most of my portfolio paired with USDT (for example CSPR/USDT, CTSI/USDT etc) However, upon doing more research, I wish to change to BTC pairs instead.

What is the best way for me to switch the existing holdings to BTC pairs?

Is it simply to sell the coins and then buy back as BTC pairs?

I’m worried the buying and selling fees would add up to a lot. Is there any other way to achieve this?

Any thoughts would be much appreciated.

Many thanks in advance

Its the same actually however you need to remember that btc price isnt fixed as usd value. This is to assume that youll be able to farm btc to scalping but the value could lower or down your asset value. Increase in quantity but dont reflect on your value.

Fees depend on the exchange you use. Sometimr some uses exchange native coin to reduce transaction fees which sometimes much cheaper due to discount.

Antotena

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Quote from: moonshine1999 on January 18, 2024, 08:31:24 PM

Hi Everyone,

I have most of my portfolio paired with USDT (for example CSPR/USDT, CTSI/USDT etc) However, upon doing more research, I wish to change to BTC pairs instead.

What is the best way for me to switch the existing holdings to BTC pairs?

Is it simply to sell the coins and then buy back as BTC pairs?

I’m worried the buying and selling fees would add up to a lot. Is there any other way to achieve this?

Any thoughts would be much appreciated.

Many thanks in advance

This thing is always trickish but if you are smart about it, you will enjoy it and if you are the type that want accumulated a bitcoin as whole as target, it will make that journey faster but how do you achieve that is the question. You know that altcoins are money pumping machine, they sweal up like Africa Cassava flakes if you invest in them but the risk though, so for instant, let's say you are trading an altcoins paired with Bitcoin and the coin is pumping, if it has pumped to a certain point, the equivalent bitcoin price will depreciate while the coin will appreciate, so you get the opportunity to convert all to bitcoin and this will allow you to gather more sats and get more bitcoin and if bitcoin later pump, you have more bitcoin with more profits.

But you need to know when and when to do this conversation and sells because we have altcoin seasons and we have bitcoin season, yiu should do this in bitcoin season and only convert to bitcoin if the top has not been reached yet so you don't pour all your profits into bitcoin only for the market to crash on you.

moonshine1999

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[/quote]

It doesn't matter what asset you bought your coins for. Pairs merely show the price of your coin against an asset and are in no way tied to that asset. You can buy your coins for USDT and sell them for USDC, for example. And I don't recommend trading altcoins paired with bitcoin, because the price of almost all altcoins in this pair has a downward trend.
[/quote]

Great stuff, that makes perfect sense now. Thank you kindly

serjent05

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@OP, isn't exchanges have BTC pairs? Like CSPR/BTC?? If not or if the altcoin you have does not have an existing BTC pair then you can always buy Bitcoin through the USDT trades you made since BTC/USDT is always available in almost centralized exchanges. You just need to browse the trading pair of the platform.

If you are worried about the trading fee adding up, there is nothing you can do but to pay for it if there is no direct BTC pair for your altcoin holdings, or if you may, you can also offer a trade-in this forum and see for yourself if there is anyone interested to buy your altcoin paying in BTC through p2p transaction. You can make a thread of your altcoin selling for BTC on the economy Goods subboard . You may need a service of an escrow for security and can see the list of members who do escrow service here: Recommended bitcointalk escrow services

hatshepsut93

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You are not buying a pair, you are buying an asset and you can exchange it for other asset. And if you don't like the options on your exchange, you can send the coins to some other exchange. Exchanges just display value in certain currencies, so you need to check their settings if it's possible to see the price in the currencies that you are interested. But it's a purely visual function.

Benedictare

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In trading pairs or cryptocurency pairs they can be traded on each other of an exchange because they are assets,In other for you to change pairs ,you have to go to the select market menu,at the top left header and choose your needed trading pair. When you want to start a different trading pair or symbol more at your current one ,maybe for spot trading or contract trading ,Log into Phemex.com and follow the steps.

famososMuertos

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That's why the popular exchange is not always the best "pair."

Check that the exchange has the pair you like, it is very annoying, and it is usurious that some exchanges make you go through an intermediate pair, as a bad practice, consequently to pay additional fees, perhaps it is understandable in some pairs, then, you should check before using a certain exchange.

Xal0lex

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Quote from: moonshine1999 on January 18, 2024, 08:31:24 PM

Hi Everyone,

I have most of my portfolio paired with USDT (for example CSPR/USDT, CTSI/USDT etc) However, upon doing more research, I wish to change to BTC pairs instead.

What is the best way for me to switch the existing holdings to BTC pairs?

Is it simply to sell the coins and then buy back as BTC pairs?

I’m worried the buying and selling fees would add up to a lot. Is there any other way to achieve this?

Any thoughts would be much appreciated.

Many thanks in advance

It doesn't matter what asset you bought your coins for. Pairs merely show the price of your coin against an asset and are in no way tied to that asset. You can buy your coins for USDT and sell them for USDC, for example. And I don't recommend trading altcoins paired with bitcoin, because the price of almost all altcoins in this pair has a downward trend.

Franctoshi

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Quote from: moonshine1999 on January 19, 2024, 09:41:15 AM

Doing further research, I understand USDT may collapse in the future so I think I’ve made a mistake by buying CTSI paired with USDT
Would you guys advise I need to do anything or am I getting confused and CTSI value will be CTSI value regardless of if it was bought as CTSI/USDT or CTSI/BTC?

Don't get too confused Op, if you had bought CTSI/USDT pair, what it simply means is that you sold your USDT for CTSI in exchange and now what you own in your portfolio is the CTSI coin and no longer USDT and this is how it works, But if you want BTC, you should trade on the CTSI/BTC pair, meaning you will liquidate CTSI for Bitcoin and would no longer have CTSI coin in your portfolio rather BTC.

moonshine1999

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Amazing, thanks everyone.

If it makes no difference to long term value of the coin, if I originally bought it with USDT pair or BTC pair, then I’ll just leave everything as it is.

I thought that if/when USDT were to crash, my holdings of CTSI would be affected as they were bought as a CTSI/USDT pair

It appears from your responses I was mistaken so I shall continue to do nothing and HODL

Thanks again everyone. Your input is invaluable especially to someone like me who is new to this

rat03gopoh

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Quote from: moonshine1999 on January 19, 2024, 09:41:15 AM

Would you guys advise I need to do anything or am I getting confused and CTSI value will be CTSI value regardless of if it was bought as CTSI/USDT or CTSI/BTC?

Yeah, just withdraw it to your personal wallet then exchange it on the p2p exchange service for whatever coins you want (ignore the previous coin pairs).
Edit: I found one example of an exchange that trades ctsi to more crypto pairs

Code:

https://simpleswap.io/crypto-to-crypto/ctsi-uni

change "uni" in the url to another coin ticker like "apt"(for aptos), "arb" (for arbitrum), or up to you

sujonali1819

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Quote from: moonshine1999 on January 19, 2024, 09:41:15 AM

However, my coins are actually held on exchanges (binance, kucoin, coinbase and poloniex)

When I bought the coins, i had the option of choosing which trading pair to buy with. For example, when buying CTSI, it gave me the option to buy CTSI/BTC or CTSI/USDT and some others which I can’t recall

At the time of purchase, I used USDT to buy CTSI/USDT.

I am hold coins and do not buy and sell on a regular basis.

Doing further research, I understand USDT may collapse in the future so I think I’ve made a mistake by buying CTSI paired with USDT

Would you guys advise I need to do anything or am I getting confused and CTSI value will be CTSI value regardless of if it was bought as CTSI/USDT or CTSI/BTC?

Many thanks

If you hold the coin for the long term, what's the fact if you buy it with USDT or BTC? Just buy the coins and hold them. It does not matter or make any change if you buy it with USDT or BTC.

But if you want to keep your Portfolio stable for a period then convert your Crypto to USDT and wait for re-buy. And if you want to convert your crypto to BTC, your portfolio may increase/decrease in USD value based on BTC price movement.

moonshine1999

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Hi All,

Thank you all very much for your advice and explanation. Really appreciate it

As you can probably tell, I am relatively new to trading.

So to answer your queries, I use coingecko app to track my portfolio. That does not show the trading pairs.

However, my coins are actually held on exchanges (binance, kucoin, coinbase and poloniex)

When I bought the coins, i had the option of choosing which trading pair to buy with. For example, when buying CTSI, it gave me the option to buy CTSI/BTC or CTSI/USDT and some others which I can’t recall

At the time of purchase, I used USDT to buy CTSI/USDT.

I am hold coins and do not buy and sell on a regular basis.

Doing further research, I understand USDT may collapse in the future so I think I’ve made a mistake by buying CTSI paired with USDT

Would you guys advise I need to do anything or am I getting confused and CTSI value will be CTSI value regardless of if it was bought as CTSI/USDT or CTSI/BTC?

Many thanks

Franctoshi

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From the Op point of explanation it likely that the coins are stored in a centralized exchange wallet and that's the angle which I think OP is coming from; However, it will be fine if Op let us know the wallet he/she is using, so we can know which point we would assist you from and provide you with the right solution. But assuming that this is a centralized exchange that you use, you can simply switch to BTC pairs, take you for instance on Binance, just go to the spot option and click on the coins you own, then it will bring out the trading pairs available with that coin you want to sell for BTC, let say Sol/USDT, Sol/BTC, and Sol/ETH, simply click on Sol/BTC and use the sell button, it will now sell Sol for BTC. I hope this helps to solve your challenge.

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Quote from: moonshine1999 on January 18, 2024, 08:31:24 PM

Hi Everyone,

I have most of my portfolio paired with USDT (for example CSPR/USDT, CTSI/USDT etc) However, upon doing more research, I wish to change to BTC pairs instead.

What is the best way for me to switch the existing holdings to BTC pairs?

Is it simply to sell the coins and then buy back as BTC pairs?

I’m worried the buying and selling fees would add up to a lot. Is there any other way to achieve this?

Any thoughts would be much appreciated.

Many thanks in advance

Assuming you are using price chart app like trading view or other coin portfolio. The reason why your pair shows like that is because you choose that pair the first time you create your portfolio.

There’s a pairing option which you can use such CTSI/BTC and so on which you can use to enter your current holdings for tracking purposes. Pairing just show the conversion rate of your holdings and there’s no need to sell your current holding just to change the pairing.

For simplicity, For example you are holding CTSI token, You can use any pairing through the search function of the tracking app that involves your token either CTSI/BTC, CTSI/ETH, CTSI/USDT and so on as long as the exchange you are using as reference for the price offering the pair that you wanted.

Luffygroove

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May you explain further where do you see the portfolio?. If you see it in a wallet (could you share the wallet's name), What you see in your wallet might be an estimate of your asset value in USDT, not the actual pairings. If you see it in an exchange, I assume the pairings you observe, like CSPR/BTC or CTSI/BTC, can be changed based on what the exchange offers. If you wish to switch pairings, you can easily do so depending on the available options. It's important to note that these pairings are flexible, and you have the flexibility to adjust them as needed. This provides convenience and allows you to manage your portfolio according to your preferences within the exchange's offerings.

mk4

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Depends? What portfolio tracker are you using? On the CoinGecko portfolio feature(and I assume it's the same with most crypto portfolio trackers), you can change your main currency to BTC. Not sure if centralized exchange portfolio has that feature.

Darker45

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I don't quite get it. What you have in your cryptocurrency portfolio aren't pairs. It's either you have USDT or BTC or ETH or XMR or whatever, but you can't have USDT/BTC or BTC/ETH. Which wallet are you using, by the way?

I guess the only way to switch coins is to convert them. You can either create a sell order or swap immediately to BTC. But if what you mean is that your coins are only paired with USDT and not with BTC, I'm afraid you don't have other choice but to convert to USDT first before converting to BTC right after. You can create buy and sell orders for it. The fees aren't that high. You don't have to withdraw and deposit each time.

Topic: How to change trading pairs on existing holdings? (Read 215 times)