What is Crypto Staking? Beginners Guide Explained in 9 minutes
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really great breakdown thanks alot, I can use you as a btc teacher !!
Inflation is about to reck havoc ..I’m going to start doing this.. thanks for the wisdom
I still see cryptocurrency as one of the best digital investment and i totally love the technology when it comes
to the largest crypto asset Bitcoin As a trader, i have been able to understand that there are two sides when it
comes to crypto and everyone has their opinions when it comes to choosing sides, though i am not kicking against Hodl,
but i see it as an old and odd strategy to make profit of the market as when the market goes bearish investors/traders
loses their investment which is always painful, when you can take advantage of the market by involving in day trading
or copying trade alert from a professional trader that understand the market and use strategy to generate signals daily
to make profit to grow your portfolio as i have been doing with Mr Henry for the past 5 weeks and i have been able to day
trade to grow my initial 0.012 btc to 0.13 btc which you will rethink and see that trading is better/profitable.
Contact henry on
Email : email@example.com
whats app:+1(908) 991-7132
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Get to the point man!!
The idea is not to cash out your btc to USD right after the trade, LOL. The idea is use BTC to buy a solid Fund. ALT project. Yes, you may get less back in BTC…but you dont turn around and convert it back to USD. You just put it back in your stack once your ALT/BTC exits, in theory the ALT exit will be at a lower BTC value, but hold it. Talk to a tax professional.
Okay, I am confused. If you are in a SNX/BTC pair today say… BTC/USD way up. SNX/BTC way down. If I use BTC to buy SNX, then BTC retraces, SNX takes off against BTC. Exit position, the gains automatically go back to BTC not USD correct?
Also, exiting any trade into USD is a taxable event. I do not believe exiting to BTC is. Address capital gains?
I can use BTC base pair on CB Pro, so why not?
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Why can't people just get straight to the point
most alts trade with stablecoins now, but I wish I had thought about this before that was an option
These days you can buy alts vs USD or AUD etc, whats your thoughts now?
Did i just get screwed? Pls help! – If I buy alt/btc, and btc goes up against the USD and my alt stays the same, did I just improve my USD or decrease my USD. Aren't they doing pairs with USDC/TUSD/USDT now, so you can bypass BTC completely by importing ie USDC from Coinbase and only buying lat pairs denominated in USDC? Anyone?
Thank you for this nice advice
Great episode, thanks for the explanation.
as an alt trader it sucks to be up 50% (btc) value and still in the red in $ value, seems like btc is dead
What about ETH vs BTC when trading alts? Eth trading is getting pretty normal right now. Binance, Kukoin, bitfinex,
This argument is only valid if bitcoin becomes the standard currency over usd. The end game (currently) is to grow usd not bitcoin. If bitcoin grows at 10% but an alt grows at 15%, you’ve made 5% more than if it was left in btc.
The fact that you have to buy back bitcoin at a more expensive rate matters not because you’re then buying it back with your additional 5% gains. All cryptos are nothing more than mediators to get back to usd.
Your money should always be in the safest coins that you think will out perform bitcoin. When btc is the best performer, it’s back to btc with your money.
Can't we also think about things in terms of ethereum?
On my trading platform you can trade any Alt or btc with the USD, my question Is which is more profitable and smarter, I see good gains day trading with the USD, I wonder if I will see better if I keep it ALT-BTC trading rather than ALT-USD trading? Has anybody tested this out and feel like giving some insight? It was probably addressed in the video I know but I thought I would get some suggestions.
Thanks this clear a lot up.
im a FX guy and idon't care about BTC , i hold BTC , but i don't care about it Fx guys aren't that stupid to hedge their way through a SuperVolatile market 😀
I look at USD value in day to day, but I know how much I bought my BTCs at ($5000) and I know it's at $15,000 atm so if I'm 3x above my initial investment in USD I'm not losing money or missing out on gains. It works for me because I didn't buy BTCs at multiple different cost, my average cost is easy to remember.
2:45 that’s a stupid example to begin with. Someone would be a fool to sell their $ALT when there is no price change in USD, and trade it back with BTC at a higher price. And then trade it back with USD when BTC drops. It’s just common sense that you’ll incur loss. This example doesn’t explain the complexity of trading between Fiat —> BTC —> $ALT and vise versa.
Thanks mate. Appreciated.
Thanks a bunch for this video man, really fucking drove home the point. Made me realise that if I'm being honest with myself, I've made more dollars but lost a load of BTC…so all that time has been wasted essentially! Damn. Haha
Okay, so the point is that because most altcoins (currently) require purchase using bitcoin (BTC) and then exchange back into BTC in order to cash out (off ramp), you have to follow the value against BTC rather than the fiat value of the altcoin. This could all change if exchanges begin to support direct fiat cash outs. You also have to follow the BTC/fiat value if you want to cash out with a profit, otherwise sit on your bitcoin until it goes up in fiat value.
I still don't get this, and believe me I'm trying. In your example @5:12 you say after the price fluctuation in BTC and Alts you end up with 0.832 BTC (instead of the 1BTC you started with) but the dollar value is back to $5000. But since you started with $5000 you haven't lost any "money". So even if number of BTC has gone done you still have the same amount of money ? surely that means you haven't lost an fiat. (of course you haven't made any fiat but you haven't lost any either).
And at the end of the day to spend in the real world don't you have to look at your FIAT balance ?
What am I missing here, please explain.
And in terms of off ramps, an exchange like https://www.coinspot.com.au/tradecoins would allow you to trade ALTS straight to money (FIAT).
on paper agreed, however bitcoin fees are becoming painful, surely this is a factor? or is this the 'tax'u mentioned?
people think they buy xy/btc….and both get up, that they get both profits together. lol.
Great channel, found it on Twitter from Crypto_Ed_NL. Gonna follow it 🙂
i'm glad u put this together. cause when i tell ppl this they just think it's my btc maximalism bias lol
maybe you should leave a bitcoin on her fucking grave and see if the bank can cash it it for your soul later down the road ..
WOW! So what is the point of an altcoin then? There should only be BTC since ur guaranteed to lose money in any other coin. More of a question but I'm kind of like, wow
Great vid! Thank you!!!
I liked the video and I generally like your content but I think you made it sound a bit more confusing. Simply put, if you buy an alt for .5 BTC and then sell it when the value goes down to .3 you lose money. Period. The only reason to look at alts from a USD perspective is to put things into perspective (although if BTC is in a bear market then you can really see loss in value) but the problem is you cant convert 97% of coins straight to fiat. Ultimately I agree with you. The name of the game i to acquire as much Sats/bitcoin as possible.If your trading against ETH the same applies.
Awesome video, great explanations <3 much love
I’m havin a hard time switching from USD gains vs BTC.
As long as BTC is valued against the dollar i’ll always have the same amount in my portfolio. No matter which currency i watch my portfolio in. Right?
I think i get why but i still dont understand why from a valuation sense.
Great video, great advice.
Awesome video!!! You explained it perfectly. Anyone that doesn't get it just won't get it.
10:10 if you're in crypto with money you can't lose then leave. You'll get burnt
Keep covering the fundamentals and go deeper when you have available time.
Hey nice video.. important to know this. Wheres the link to your thread on the topic?
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