Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Adrian on October 12, 2018, 06:47:16 PM
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So I have seen Coinbase is the main "source" for buying/selling BTC, but I was wondering if anyone has used the method of converting bitcoin to another currency when it reaches a high point, then converting it back to BTC when it is low enough.
If so, what wallet(s), exchanges, etc. are you using? And more specifically, what crypto do you recommend converting BTC to, in this situation?
Any help is appreciated!
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Of course,This is the most logical thing to do.but things are not always going as desired.but when the prices drop, I get a little more than coin in my hand, the right strategy
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Yes, I have done that. It is actually a good strategy is you want to increase your holding. You can actually do the same strategy when the market is crashing. You do not have to use a different wallet, just sell BTC to USD then buy back BTC using USD when it drops
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If I myself will use a long-term strategy, because I invest in botcoin to wait for cheap prices, because I saw from yesterday here, bitcoin trading is great to wait patiently for a higher selling price 'so I will also get more profits
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many say that this exchange was in the first places for a long time, and it was convenient to use it, but I saw an article that said that more than 70% of people left this exchange
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So I have seen Coinbase is the main "source" for buying/selling BTC, but I was wondering if anyone has used the method of converting bitcoin to another currency when it reaches a high point, then converting it back to BTC when it is low enough.
If so, what wallet(s), exchanges, etc. are you using? And more specifically, what crypto do you recommend converting BTC to, in this situation?
Any help is appreciated!
Yes I always do that, Buy when low ans sell when high. Hold when the market is red and wait.
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yes everyone will certainly do the same thing, I personally am more interested in such a strategy because it is logically more profitable
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yes of course this is the basis for treding to buy when cheap and selling prices when the price is expensive, when we have bitcoin we are simpled in the wallet first we make it when the price drops buy to btc
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Yes, that's my strategy in Bitcoin. Almost all Bitcoin users, including traders, also carry out strategies such as "Buy low, sell high". Because only with this strategy we benefit according to our wishes in trading in Bitcoin or other coins in this Crytpocurrency.
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"If so, what wallet(s), exchanges, etc. are you using?"
Just check coinmarketcap which exchanges has the most volume, you can choose from there whichever you are comfortable using.
"And more specifically, what crypto do you recommend converting BTC to, in this situation?"
I use BTC-USDT pairing most of the time.
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I think its easy to low sell high like trade a coins example if the price of the coin is dump price it is good to buy and wait pump a price and sell if the price is goes down.
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It is hard to live as a day trader, especially in this market.
On the other hand, if you are a long-term investor, it doesn't matter if you bought high or low, (of course if you didn't buy shitcoins) it will be higher when you sell it.
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I use in 90% of my coins an hardware wallet (Ledger Nano S) because it has a good safety. I think the best allocation you can have in your crypto portfolio is to divide it into few pieces in order to have all the main top 10 coins at least.
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I tried this method once but not in coinbase but a similar one. Converting cryptocurrency to fiat at high and converting fiat to cryptocurrency at low. I did manage to earn .3% for 2 hours or so but it may be considered lucky.
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This is a basic method I always do when trading buy low and sell high via fiat, although my earnings are not so high you know, its okay
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What you're describing is swing trading, buying low and selling high ;) It's definitely possible to do, unfortunately many people also do it badly!
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I'll always keep this words in my mind always but still I caught on the price trap. It's just simple phrase but very hard to do. I suppose, those veterans also have a hard time following this rule. Well, I just keep in mind that I would not sell not until I get profit.
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when you get the highest price from BTC, you don't have to exchange it for another coin, to wait for the BTC price to go back down so you can buy a low price. because I thought when the BTC price dropped, the Altcoin price also dropped, so I suggested changing it to USD, because with USD, we could choose and buy coins at any time
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Yes i buy when low and sell when high.
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Suppose everyone should try to analyze the tokens and pick the possible things to happen during in ICO stage and into Q4. Don't just buy low and sell high without proper understanding of the half or whole concept of the project.
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That is the logic, and you can do this in every other coin you hold but nothing comes without risk which, low can get lower and high can get higher so this strategy might make you miss a bull run and might get you in a bear trap. You can use this in an exchange with a good volume such as Binance and the best currency to use to switch is USDT.
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Even in this bear market this stategy is possible to bring profit if you make good research for example if you bough genesis vision in august and now is 2x,phantasma in september was around 0.035 and now is 0.105.
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yes, it is a thread from someone with trading, when we see a low value for us, we can buy it, and we can wait for future increases with a higher selling price, because the krypto price goes up and down well.
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Of course,This is the most logical thing to do.but things are not always going as desired.but when the prices drop, I get a little more than coin in my hand, the right strategy
I agree. When the market is bloody, it is the right time to buy some of the tokens. Choose the best altcoins that you think is worthy for your support. Then grab it don't waste time.
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Buy low and sell high are ways to trade in order to get profits. But in reality it is not that easy. Because price movements are very volatile, so sometimes the price can go down again after we buy at a low price. The important thing is not to forget the risk when we trade.
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if we as traders are really right, we will sell high buy low, for wallets every time we enter the market, the market provides wallets to transact withdrawals and exchange deposits so we no longer need to search or prepare our own wallets
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It is a precondition of successful investment system. Buy altcoins at dumping prices and holding them when prices pumping then should try to sell them. I actually follow this rules.
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The fact is, the market is generally not doing well so it is very difficult to identify one specific coin which is doing so well for you to convert it to. The best thing is to leave it in bitcoins.
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Binance exchange enables users to change their bitcoin into USDT which is not affected by the volatility of bitcoin. The USDT is always equivalent to the USD. You might like to try that out. In this way, your bitcoin value is preserved.
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There are other exchange site like binance where you can change your Bitcoin into USDT. The USDT always has the value of the dollar. Also, spectrocoin exchange sites too enables you to exchange your Bitcoin directly into dollars.