Topic: Why are altcoin exchanged for btc and not for dollar (Read 503 times)
I think now many trade that offer match altcoin with USDT for exchanging like Bitfinex, Huobi and gate.io, combine altcoins with USDT is all the more simple to exchange since we influence investigation in 1 to coin just, and when all crypto on downtrend we can move all advantage for USDT as quickly as time permits to keep the benefit.
Dollar is a fiat currency and will need the support of the government before it can make it legal and not just a form of virtual currency it will be.
If you want to make money on the virtual market you have to make a change between these currencies. The dollar will be the result of the money you have. We are investing in Bitcoine to increase the amount of this concrete currency at our disposal.
There are few reasons like the volatility of alts and btc, as well as the commissions issue, for many alts the commission would be huge if you were intending to get dollars directly.
Most of us who are involved in this market continue to believe in the great potential of bitcoin in the medium term, and in fact, one of the most important motivations that lead to build the idea of bitcoin was to propose a functional alternative to the current centralized economic system, based mainly in the dollar.
Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
Yes, that will make sense because even though there is always a dollar option in every exchanges but still most people do not exchange their bitcoin into dollar but still its an option, and in our case that we are not craving for dollars because here in our place we normally used coins.ph and only ethereum,bitcoin and peso are available so we prefer to exchange bitcoin or ethereum instead of dollars.Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
If you are a holder of alt coins, my advise to you is before you convert your coins in to cash you must exchanged it to bitcoin because bitcoin now has the higher value in the market and you will earn much profit.
My answer is always bitcoin will always beat all. this is due to, “because Bitcoin is king/queen, and the other coins are at best following it.
It is hard to come up with a fundamental algo with which to price coins, so coin prices just follow Bitcoin as a sort of gold standard (“the Bitcoin Standard”).
It is the number one coin, and thus it is the coin that decides the market price in general.
If there is another standard way of changing ALTs to other currencies example to FIAT. it would much less affected to the price of BTC.
It is hard to come up with a fundamental algo with which to price coins, so coin prices just follow Bitcoin as a sort of gold standard (“the Bitcoin Standard”).
It is the number one coin, and thus it is the coin that decides the market price in general.
If there is another standard way of changing ALTs to other currencies example to FIAT. it would much less affected to the price of BTC.
Our society have adapted to use Bitcoin more than any of the newer Altcoins. We are better equipped to convert Bitcoin to dollars than Altcoins. It's a lot easier to convert it BTC and then to USD if that is your goal. There are also many Altcoins that can be exchanged for BTC.
I have also noticed this on exchanges. That not withstanding, bitcoin is the standard. So every altcoin, whether good or sh*t is measured against btc.
Bitcoin is the leader of cryptocurrencies, and all currencies in the world can be exchanged with bitcoin. It is the universal currency of the world and the universal currency of the encryption market, and it is trustworthy.
It is not true. On vast majority of exchanges there is rate to USDT.
I know that on OKEX you can exchange a lot of altcoins to USDT, but most people hold funds in Btc, that's why altcoins are exchanged for BtC.
I know that on OKEX you can exchange a lot of altcoins to USDT, but most people hold funds in Btc, that's why altcoins are exchanged for BtC.
Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
I think it's all because Bitcoin is the currency of all cryptocurrency world and therefore all trades are on bitcoinhaving tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
Am confused on this. First of all, is dollar a cryptocurrency? The exchange should first go through a cryptocurrency base which is Bitcoin. Am I wrong on this?
That you sold altcoin for dollars, it is necessary that someone bought this altcoin for dollars. But no altcoin has such authority and weight as bitcoin and eth. Bitcoin and eth in the crypto world it's like a dollar and euro in the fiat world. It is convenient for everyone and exchangers and holders of crypto.
Of course, there are several altcoins that can be exchanged for dollars at once, but 99 percent of all altcoins are traded in pairs with Bitcoin or Ethereum.
Most of us who are involved in this market continue to believe in the great potential of bitcoin in the medium term, and in fact, one of the most important motivations that lead to build the idea of bitcoin was to propose a functional alternative to the current centralized economic system, based mainly in the dollar.
Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
Yes, that will make sense because even though there is always a dollar option in every exchanges but still most people do not exchange their bitcoin into dollar but still its an option, and in our case that we are not craving for dollars because here in our place we normally used coins.ph and only ethereum,bitcoin and peso are available so we prefer to exchange bitcoin or ethereum instead of dollars. Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
Most of us who are involved in this market continue to believe in the great potential of bitcoin in the medium term, and in fact, one of the most important motivations that lead to build the idea of bitcoin was to propose a functional alternative to the current centralized economic system, based mainly in the dollar.
Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
Therefore, it would not make much sense that those of us who are looking for alternatives to fiat money, have in mind as a first option to exchange our valuable bitcoins for dollars. And that is why in the crypto-universe there will always be an understandable tendency to prioritize the use of bitcoin instead of the dollar.
Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
I don't think the idea will be a good thing, first of all the reason behind bitcoin being the main trading of altcoins is because it is the most common and the widely adapted cryptocurrency in the world. Now imagine if you need to buy altcoins where do you buy place your money for it to go online or in internet? What I'm saying is that bitcoin is the easiest way for your money to be able to go online so it is commonly be used for trading.
Why are altcoin exchanged for btc and not for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
having tons of altcoin is just like having bitcoin. If bitcoin grows, they grow. If bitcoin falls, they fall.
Isn't this pointless? Why not buying and selling alts for dollar?
I don't deal very much with altcoins but as I know it is possible to convert at least Ethereum into dollars and euro through cex.io service. I just know about such opportunity. Try it, maybe it will be helpful.
On some exchanges you do find altcoins exchanged directly for USDT, I know that Binance and Bittrex offer this function, though not for every single cryptocurrency of course due to the volume, but because the volume would be so low for most altcoins, this is only reserved for altcoins with a high daily trade volums, otherwise there would be extreme market manipulation for these coins. That's why you find USDT/ETH and USDT/EOS trade pairs, but not for smaller coins.
Most of the trading exchanges have other trading pairs as well other than bitcoin so you need to check the other exchanges to get ETH or some other reputed crypto currencies.But it is an crypto currencies if you want to sell it for direct fiat then the demand will get too less for that coin that is why people are using bitcoin for trading fiat and other crypto currencies to crypto to crypto trading.
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