Bittrex: which market (BTC, ETH or Dollar) should I use?


#1

Hi,

I hope someone can give me some advice.
Right now I only flip altcoins using the BTC market on Bittrex. This means I buy altcoins using BTC and sell altcoins to receive BTC.
However, I was wondering if it might be more profitable or safer to use the ETH or Dollar market.
Since BTC is very volatile, exchanging to Dollar seems safer. Of course this limits me to a small amount of coins that I can trade.
The decision probably depends on what I believe is the safest currency to hold, am I right?


#2

Dear Van.

As I see it, in your question, you are mixing some varies fields.
I’m not sure if you wish to know the most profitable way of trading coins,
or the safest way of trading coins.

Another question you are asking is if you should continue investing Crypto world Via ETH/$.
As everything in life, each side always has its own pros and cons.

Investing using FIAT may tunnel to Coinbase, Kraken Cex and etc, allowing you to invest a coin from a pool of around ± 50 different Cryptocurrencies I believe.

When you ask about safest - what do you mean by that?

  1. safest coin in a way so the whole team would not run away?
  2. safest coin in a way of “sure rising value”
  3. safest coin in its protocol code against cyber attacks?
  4. safest plattform to trade?

Final point needs to be issued are our beautiful ICO platforms, allowing you to go so deep in our Crypto-World.
Using ETH / BTC will allow u to participate them, increasing your verity of choices, allowing you to maximize the odds of finding “your right one”.

In terms of security, after all its not only about the coin u have invested with,
but what Wallet you used, what platform, what team, what Protocol and many many others that should all be taken thought of.

Long story short -
For my opinion it is well to invest carefully using ETH with MEW (MyEtherWallet) for ICO’s, (or any ERC20 supporting wallets, like Exodus),
and Bitrexx is an amazingly simple platform for trading coins.

Any way, at the moment get some ETH.
Casper is doing well ^^

Hope could help a bit,
Ariel


#3

Dear Ariel,

thank you for your response.
Meanwhile I’ve gathered more experience with crypto trading and my current strategy is to increase my amount of Ether. So I’m buying altcoins using Ether and sell them again at a higher price.


#4

Cool!
Now step 2.
Just like Ethereum was an ICO,
u may want to try understand which new sturt-up / company / coin / community / u name it ->
WILL BE IT!

The cool part also by doing that,
is that u basically helping the future u believe in!
I know it may sound a bit Utopia, but please remember that the great power in this world is us.
The people.

:slight_smile:


#5

Well, I think hashgraph has the most potential, but it has no coin…


#6

Hi, for the question if you should trade coins agasint BTC or Fiat, i like to put it like this.

  1. Trade new and small altcoins (shitcoins) against the BTC, to gain moore BTC!

  2. Some of the bigger altcoins can absolutely be traded against fiat (USD or EUR) these are coins like ETH, XRP, BCH, LTC atm. Due to the fact moore and moore Fiat approved exchanges are accepting the big ones. Therefor, new-money will go directly into these coins, instead of BTC -> altcoin. So i`m thinking going forward, there can be quite a price difference on a BTC/ETH exchange vs a USD/ETH exchange. I specifically saw this back in december. Prices on Bitcoin, ETH and LTC was quite higher on coinbase vs Bitfinex.

  3. A few other coins, for example IOTA or Golem i feel are targeting the whole world / big companies from the get go, with their innovative technology. So maybe these also should be bougth with fiat.

  4. ICO’s and token sales you use ETH or BTC obvius.

But i am fearly new this crypto world, would be nice with some input on this, i wan’t to learn :slight_smile: