I need some Altcoin trading/selling advice/guidance, please.

GrannyC

member

Activity: 224

Merit: 10

Quote from: Roadrage68 on December 23, 2017, 04:30:58 PM

Guys/Gals,

I've been mining crypto for about 7 months or so and have generally been hodling.

I generally mine PIRL, ETC, SIA and a couple others and buy some BTC, XRP, XLM, ARK, REP, DOGE, etc.

As some of the altcoin prices have skyrocketed vs the USD I have been confused how and when to sell them.
My main goal is for USD profit while attaining some BTC when I can.

So how should I go about this? I was under the misconception of selling ETC when it hit $45 for BTC, but, BTC was up as well and got to thinking this was a bad idea..

Please help this trading/selling noob understand this in laymans terms.

How can I sell something that rises vs the USD, and hold until BTC drops etc?

Thank you in advance.

Most of the people here and myself are going to tell you that waiting for the bitcoin to be cheaper is not a very promising strategy. If you mean wait until it goes down on a correction... I would say the same: not a good idea.

Roadrage68

newbie

Activity: 24

Merit: 0

Thanks.

Do you guys use Tether (USDT) to convert to USD or convert to BTC then convert BTC to USD on Coinbase?

nextel

member

Activity: 154

Merit: 10

Next Generation Agreements for Everyone on The Eth

Now, if you need money then go and hit that exchange button in the cryptocurrency exchange like Binance, Bittrex etc. Convert it into dollar the send to your dollar account And cash it out into your local bank.
If you want to invest it into other coins then you'll do the same but only convert them into the coins you love.

ExtendedBacon

newbie

Activity: 29

Merit: 0

Quote from: Roadrage68 on December 26, 2017, 12:52:44 AM

The main issue I can't seem to wrap my head around is when to sell an altcoin..

Let's take REP for example:

The price per USD is/was near a record high recently.
But the price per BTC is at a near record low.

If I sold it for BTC, it looks like I'm not really seeing any profit.
If I could sell for for USD then I could see the profit.

Am I reading this right?
Or is the idea that at this REP to BTC ratio I'm getting the most BTC for my REP and I'm counting on the price increase of BTC?

Please help me understand.

REP was at usd to record high b/c the USD price is based on btc/usd pairing price. Therefore, even though BTC price for many alts has remained stable, growth in BTC/USD pairing has made their USD value go up. So for altcoins, mostly ignore USD value, unless it is one of the big pairs such as ETH, LTC, or XRP, which generally have their own USD pairings separate from BTC.

DosManos

full member

Activity: 224

Merit: 100

you have to know how to manage your portfolio, without asking other people
its a good decision to research projects , and for example when SIA is so high, you could sell it for BTC...
or buy to another project that you see as potential

Roadrage68

newbie

Activity: 24

Merit: 0

The main issue I can't seem to wrap my head around is when to sell an altcoin..

Let's take REP for example:

The price per USD is/was near a record high recently.
But the price per BTC is at a near record low.

If I sold it for BTC, it looks like I'm not really seeing any profit.
If I could sell for for USD then I could see the profit.

Am I reading this right?
Or is the idea that at this REP to BTC ratio I'm getting the most BTC for my REP and I'm counting on the price increase of BTC?

Please help me understand.

joselitobayagbag

member

Activity: 231

Merit: 10

Augmented Reality World Discovered

You need technical analysis to know when to buy and sell the coins you are hodling,do not buy high and sell low do the other thing.

Roadrage68

newbie

Activity: 24

Merit: 0

Quote from: GrannyC on December 23, 2017, 06:56:50 PM

I am a bit confused by your question. Ether has not been at 45 in quite a long time. In any case, many coins are linked to bitcoin, so you would need to develop a strategy to jump between bitcoin paired coins and coins that do not depend on BTC price.

By ETC I meant Ethereum Classic.

Let's say ETC went back to $45 vs the USD, it would be best to sell for USD correct?

But if ETC doesn't go that high again I should be looking for the best ETC vs BTC value and trade for BTC when that happens correct?

GrannyC

member

Activity: 224

Merit: 10

Quote from: Roadrage68 on December 23, 2017, 04:30:58 PM

Guys/Gals,

I've been mining crypto for about 7 months or so and have generally been hodling.

I generally mine PIRL, ETC, SIA and a couple others and buy some BTC, XRP, XLM, ARK, REP, DOGE, etc.

As some of the altcoin prices have skyrocketed vs the USD I have been confused how and when to sell them.
My main goal is for USD profit while attaining some BTC when I can.

So how should I go about this? I was under the misconception of selling ETC when it hit $45 for BTC, but, BTC was up as well and got to thinking this was a bad idea..

Please help this tarding /selling noob understand this in laymans terms.

How can I sell something that rises vs the USD, and hold until BTC drops etc?

Thank you in advance.

I am a bit confused by your question. Ether has not been at 45 in quite a long time. In any case, many coins are linked to bitcoin, so you would need to develop a strategy to jump between bitcoin paired coins and coins that do not depend on BTC price.

masphie

full member

Activity: 896

Merit: 102

-= OI =-

Quote from: Roadrage68 on December 23, 2017, 04:30:58 PM

Guys/Gals,

I've been mining crypto for about 7 months or so and have generally been hodling.

I generally mine PIRL, ETC, SIA and a couple others and buy some BTC, XRP, XLM, ARK, REP, DOGE, etc.

As some of the altcoin prices have skyrocketed vs the USD I have been confused how and when to sell them.
My main goal is for USD profit while attaining some BTC when I can.

So how should I go about this? I was under the misconception of selling ETC when it hit $45 for BTC, but, BTC was up as well and got to thinking this was a bad idea..

Please help this tarding /selling noob understand this in laymans terms.

How can I sell something that rises vs the USD, and hold until BTC drops etc?

Thank you in advance.

about selling altcoin, i think it is simple...
You can go to exchange or market (hitbtc, livecoin, bittrex, binance, Etc.)
If your coin already listing on there, you can transfered them. And start selling.

CMIIW

Roadrage68

newbie

Activity: 24

Merit: 0

Guys/Gals,

I've been mining crypto for about 7 months or so and have generally been hodling.

I generally mine PIRL, ETC, SIA and a couple others and buy some BTC, XRP, XLM, ARK, REP, DOGE, etc.

As some of the altcoin prices have skyrocketed vs the USD I have been confused how and when to sell them.
My main goal is for USD profit while attaining some BTC when I can.

So how should I go about this? I was under the misconception of selling ETC when it hit $45 for BTC, but, BTC was up as well and got to thinking this was a bad idea..

Please help this trading/selling noob understand this in laymans terms.

How can I sell something that rises vs the USD, and hold until BTC drops etc?

Thank you in advance.

Topic: I need some Altcoin trading/selling advice/guidance, please. (Read 69 times)