Could someone clarify a noob question for me?
I don't understand how it is that currencies are traded in pairs.
Say I buy BTC/USD I now own BTC right, but can I sell it for something other than USD?
Or does it have to be sold in the pair I bought it in if you're using an exchange like kraken etc?
Another example I don't understand... Say I'm buying into an alt coin in the pair Altcoin/BTC I then own the altcoin that I buy with btc? So if it goes up relative to USD I could sell it as Altcoin/USD is this wrong?
Would really love if someone can help a noob out. thanks!
the BTC market is for altcoins that you can trade BTC for
the ETH market is for altcoins that you can trade ETH for
example altcoin: ARK
you cannot trade ETH for ARK
you can trade BTC for ARK
so if you have ETH, first you have to trade ETH to BTC then trade that BTC for ARK
if there's no pair then that means you can't trade those coins for each other on that particular exchange site, does that clear it up?
Thanks! Somewhat cleared up for me maybe I think?
So the example you gave, in terms of pairs would that be: buy BTC/ETH, then you have btc
then buy ARK/BTC, now you have ARK
actually I'm still confused, maybe I'm dumb but it seems really counter intuitive to my mind.
So say you buy a pair A/B you now own A bought with B? And can then buy C/A, buying "c" with "A". Or do you not use pairs like that
I think another way of what I'm asking is,
do you have to buy and then sell in the same pair?
or how would you change from:
BTC/ETH -> ARK/BTC
>>3364401
Holy shit you are stupid. Pairs have nothing to do with anything. Its simply comparing value. Usd/Btc is US dollars being traded against btc. You arent buying a pair. You arent selling BTC for anything you are trading one currency for its worth in another currency. No different than changing a dollar for some euros. BTC/ETH is just people trading their eth for the same value worth in Bitcoin. Just reading your dumbass question gives me a headache goddamn you must be a 13 year old burger. Or a woman. There is no BTC/eth to Ark/Btc because a pair isnt something you convert you dumb hunk of shit. Each currency is simply being traded agaisnt another. Typically in the real world the Dollar is the measuring standard (used to be gold) in crypto its btc or the dollar depending on the exchange. Now kys nigger
Hahaha thanks for clarifying m8. can confirm am 13 year old burger. All the forex websites say you're simultaneously buy/selling... quote/base or some shit that confused me... anyway thanks lol
>>3364660
Still triggered at how stupid OP is.
You dont buy into a fucking pair. You are trading your bitcoin for a shitcoin. You can now take that shitcoin and shove it up your ass or whatever the fuck you want to do with it. If you find an exchange that offers it you can trade it for any currency you want.