So I have decided to invest in about 5 alt coins long term and do some day trading as well.
My question is this:
If I day trade, on which exchange can I hold currency rather than coins when I close my position>
Say I make 2% on btc and want to sell and hold usd until I buy again.
I do not want to hold my funds in an alt coin on a wallet as I do not want to think about it loosing value.
Thanks
You can very well use Bittrex for that. Bittrex has USDT(which is called as Tether) and is most similar to USD rates. My question is this:
If I day trade, on which exchange can I hold currency rather than coins when I close my position>
Say I make 2% on btc and want to sell and hold usd until I buy again.
I do not want to hold my funds in an alt coin on a wallet as I do not want to think about it loosing value.
Thanks
Bittrex has a vast variety of coins in which you can invest and then trade the coins. The USDT pair has coins like BTC, ETH, NEO, OMG etc.. from which you can trade directly for USDT. The minimum amount to trade is just 0.0005 btc which should be sufficient for anybody to get started. Be sure to verify your account on Bittrex before you deposit any amount since there are withdrawal limits for basic accounts.
yes Bittrex came to mind when I read the OP
you can trade from and to USDT but not from
all altcoins. Currently you can trade Bitcoin,
NEO, BCH, Ethereum, Litecoin, OMG, Ripple,
Zcash, Monero and Dash. Here is the link >
https://bittrex.com/home/markets
You could also setup an account with coinbase
and use their exchange GDAX and trade, Bitcoin,
Ethereum and Litecoin into Euro, Sterling and Dollar.
