Author

Topic: How to fund and trade Alt coins without first buy bitcoin (Read 192 times)

newbie
Activity: 15
Merit: 0
it is like walking into a shop in US and want to pay with Zimbabwe dollar instead of dollar that everyone else is using.
when it comes to altcoin trading, majority of people are doing it to increase their bitcoin holdings. so they all trade with bitcoin to make profit on that also. this means for any altcoin the BTC market is more popular than anything else.
you still have other options, you can buy most of the big coins with fiat directly. there are multiple exchanges that have the altcoin/USD, altcoin/EUR,  ... listed which you can use.

pros? maybe if you want to start without having bitcoin you can skip a step and pay 1 less trading fee. it is not that big, so it is not such a pro!
cons? you will have to go to a specific exchange that has that market, not all of them have it. so your options is limited. you can't buy all the altcoins with everything you want. and as i said these markets are less popular, not all of them but in most cases you may even see less liquidity.

or you can just get usdt anywhere
legendary
Activity: 3472
Merit: 10611
it is like walking into a shop in US and want to pay with Zimbabwe dollar instead of dollar that everyone else is using.
when it comes to altcoin trading, majority of people are doing it to increase their bitcoin holdings. so they all trade with bitcoin to make profit on that also. this means for any altcoin the BTC market is more popular than anything else.
you still have other options, you can buy most of the big coins with fiat directly. there are multiple exchanges that have the altcoin/USD, altcoin/EUR,  ... listed which you can use.

pros? maybe if you want to start without having bitcoin you can skip a step and pay 1 less trading fee. it is not that big, so it is not such a pro!
cons? you will have to go to a specific exchange that has that market, not all of them have it. so your options is limited. you can't buy all the altcoins with everything you want. and as i said these markets are less popular, not all of them but in most cases you may even see less liquidity.
newbie
Activity: 58
Merit: 0
IMO- most of the exchanges that you should be using (hint: established with good track record), generally only take digital currency to purchase the alts and not cash, debit or credit.
newbie
Activity: 7
Merit: 0
If my goal is to trade Alt, it seems silly to first buy Ripple / Tether / bitcoin
Is there any pro/con?
Jump to: