I am hoping someone can help me out with this question. I am a total noob but got in at $172 on ETH last night so I am pretty excited. I also bought some EOS at $130. I needed to use my ETH to buy EOS. I am currently limited to ~$500 (waiting on my drivers lic approval..) so I needed to be strategic with my buys and layering. So here is my question on some markets you can not trade ETH so I would need to trade in my coin to another currency and then take some fees to do that. Is there an easier way to do this for certain markets like PAY, AMP and XRP? Also, what's the best way to be able to trade quickly? I have accounts on Kraken and BITREX but I have not funded BITREX yet. Should I waste my profit from ETH and now start transferring it into exchanges or is there a better way to do this without losing so much profit? Thank in advance to all and espeically you Luc!
Also, is there a way I can trade ETH vs. ETH on the market as there are no fees? So if ETH dips below $172 or Above x I'd like to be able to sell on the market and not get hit with coinbase fees..
It sounds to me like your up and up.. because you bought EOS at 130 and its at 160 and you got ETH at 172 and its at 195.. so im not sure i understand your question.. if you sell EOS now you have a great profit.. and if you want to send ETH to bittrex from kraken , that is a much faster process in ETH than coverting it to BTC.. BTC transfers are alot slower
Thanks for the quick response Luc! Maybe I am not explaining this correctly. I am looking to hold on to these funds I am invested in this market for the long haul and think $172 was a good starting point IMO. My question was if I wanted to sell off ETH do you recommend me doing this in coinbase or transfering the funds to Kraken then trying to trade it vs ? to get the buyout? I guess what I am confused about it if I want to sell ETH and I have it in conigy how can I sell it vs the current price of ETH? Like I said super noob question. Thanks. Also the only reason why I got into this was because you gave me the confidence to do this. These were my first trades. My first, first trade was on EOS at 3.75 so that is why I am planning on hold on to this...
I guess another way of asking this question is since I feel like I got a decent price on ETH at $172 and I put it in coinigy and start trading other coin I feel like that would dilute my initial investment as now I have this in other coin that may not have the same bounce as ETH that I am hoping for.
So at Bittrex you can trade the ETH/USDT pair and its like you are selling for USD, and at Kraken you can just sell it for USD if you want and then your holding USD on the exchange.. So you dont lose anything by just sending your ETH to the other exchanges you want to trade from.. (except there small transfer fee) .. As you can see from most of my charts I trade mainly at bittrex.. and since its got an A.P.I. set up with Coinigy, its pretty awesome..
This is great info thanks, Luc! If I am on Bittrex and Kraken should that be enough to follow your trades or are you trading on other markets as well?
Yup, most of my trades are using bittrex... I have coins on lots of exchanges, but i like bittrex the best..
Awesome videos -THANK YOU! Quick question: I noticed that it takes several minutes for puchases in bittrex takes effect in my wallets.
For eg. I bought ETH > ETC and BTC > BLITZ and it took several minutes to see the change in my bittrex's wallets.
Is that normal? I wonder how is it possible to execute faster purchases and sells.
Really? that is strange.. Im pretty sure I have always gotten my trades instantly.. Im not sure why it would take any time.. very strange..