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Topic: Why Altcoins are traded with Bitcoin or Ether and not with fiat directly? - page 2. (Read 1145 times)

full member
Activity: 311
Merit: 100
Because altcoin does not work as well as bitcoin and etherium that serve as a store of value and the reason why altcoin can not yet be like bitcoin because altcoin has no trust like bitcoin.
sr. member
Activity: 1036
Merit: 275
Just like a lot of people said on here, it depends on the exchanger you are trading your altcoins.
I use a local exchanger to buy my coins, just like Bitcoin, ethereum, monero or Litecoin, he sells me every coin at the current market price, but with my local money.
But if you are trading on a famous exchanger, then it is better to use alt/btc alt/eth just to make things easier.
sr. member
Activity: 1414
Merit: 254
Because they are both have been recognized in the crypto world as a standard price reference. but sometime there is several coin/token that use Waves as a price reference. and that jus happened on global market,  not for local market which some coins can be traded to money instead.
newbie
Activity: 4
Merit: 0
I am a new to the crypto coin world, as well.

The info regarding Bitcoin and Ethereum being the go to currency, for trading alternative coins, is good to know.
member
Activity: 88
Merit: 11
I believe it just simplifies things.  The other coins don't have the right infrastructure in place.
full member
Activity: 194
Merit: 100
I think its because most exchange are not offering the option to buy alts directly with fiat money. Like here in our country only bitcoin can be buy and sell with fiat so I have no choice but to buy btc and use bitcoins to buy other alts.
legendary
Activity: 1904
Merit: 1000
Hello to everyone

As the title says, Why are Altcoins traded with Bitcoin or Ether and not with fiat directly? Newbie here and needs to get some questions cleared up

 

In my local exchanger, I can trade altcoins such as ethereum, etc, and bitcoin cash directly to my local currency. So this depends on each exchanger whether they will pair altcoins with fiat or not.
sr. member
Activity: 805
Merit: 250
It's because among digital currencies bitcoin could be trusted more, altcoins are very closed to bitcoin or it could be say a next inline with bitcoin and it can be easily traded with it. Fiat is just an exchanger.
full member
Activity: 252
Merit: 100
Because it is built on that market, it is traded first there on that cryptoclass. And sometimes a currency or an asset was built from these platforms hence it is naturally to be traded on such. When demand grows from fiat/crytpo pair then that can be worked out hence markets are born.
sr. member
Activity: 518
Merit: 251
Hello. Bye.
Because those certain alt coin use bitcoin and etc as that currency as a main source. Bitcoin is the chosen currency of every alt coin, even ethereum. But those two are in particularly storage of value.
sr. member
Activity: 561
Merit: 255
Going stealthy
Everything tight to Bitcoin and not every exchanges support altcoins. Exchanges are gateway to fiat.
member
Activity: 135
Merit: 11
Because the Bitcoin is the first cryptocurrency and most popular cryptocurrency in the world. Bitcoin having the characteristics like fiat currency i.e Divisible. Every altcoin can be divided into the bitcoin. After bitcoin, ethereum launched and it becomes popular.
hero member
Activity: 1148
Merit: 504
Because we trust bitcoin and ether and not altcoins. Bitcoin and ether serves as store of value. If ever there will be an alt than can gain trust and support as bitcoin, then maybe that alt can serve as a store of value as well. But right now, it is just this 2.
jr. member
Activity: 215
Merit: 1
Hello to everyone

As the title says, Why are Altcoins traded with Bitcoin or Ether and not with fiat directly? Newbie here and needs to get some questions cleared up

 
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