Im experienced in trading USD and BTC/ETH against Alts, but having a hard time understanding trades between top coins?
From the start of my portfolio i’ve learned most there is to cryptocurrency and trading coins on exchanges, but most recently my interest in Alts has spiked. I have a full understanding of trading BTC/USD/ETH against other coin, even LTC, but when it comes to trading these top coins against each other in the two exchanges I use (GDAX, Bittrex),
I’m having a hard time understanding how to exactly trade these coins against each other. I’m mostly curious about ETH/BTC right now. The steps I take to add coins to my portfolio is Credit/Debt Card on Coinbase -> Coinbase to either GDAX or Bittrex -> Trade against BTC/USD or Alt. With the most recent spike in BTC price, bubble or not, there are some Alts I’m looking to purchase with BTC bubble or not. My only way to do this is buy a coin from Coinbase.
With the recent drop in ETH and spike in BTC, I was going to purchase ETH, send to GDAX, trade against BTC, send that BTC to Bittrex and purchase my Alts of choice.
I understand that this is still a decent move to do what I want to do, but with me doing this pretty often, I’m having a hard time connecting the logic to fully understand trading top coins against each other for maximum profit. If anyone could shine some light on this it would be greatly appreciated, thanks!
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