Cryptocurrency Pairing - The Very Basic Of Trading

$0.69 tipped


Just like the basic principle to gain profits is to Buy LOW and Sell HIGH. The very concept of crypto pairing is the correlation of your chosen Digital currency against another Digital currency or the most frequently used is the Fiat currency which is the US-Dollar as a default.

Today, were gonna be discussing about the most reliable techniques of exchanging your digital assets to profitable digital currencies aside from the US-Dollar.

For today, I will be using CoinGecko as my reference with all of the trading volume activities of the entire exchangers on the planet. Yes, it is the summation of all volume trades projected from all other platforms in one comprehensive view.

At a first glance of the website, you will see the top 5 coins on the home screen. If you will scroll down then you'll see the rest of the rankings of the other altcoins.

As you can see from the screenshot above, the first two arrows indicate that CoinGecko listed 4,628 coins already and these numbers the site show came from 322 exchangers across the globe. This is the arrow pointed to the left.

The initial and the default currency set is the USD (the box at the left side and points out to Bitcoin, the top and the mother of all cryptos which points out its correlation is amounting to $7,374 USD. Just like all the top 5 assets Etherium, Ripple (XRP), Bitcoin Cash and EOS. (Wow! It now surpassed Litecoin (LTC). This page shows all of their USD values. Therefore this pairing is said to be partnered with the Fiat Value today. (It can change its values in minutes)

Now, let's look at the second screenshot

As we can see there is an arrow down (drop-down) beside the USD button and yes this means you can change your pairing aside from USD itself with any other coins listed, this time we'll focus more on the top three and the recommendations I will suggest from the profits I have gained before.

Let's click BTC then!

Disregard the value of BTC since it is our main price reference.

Now the colors are mixed with green and red in reference pairing the other Top 6 altcoins listed to the mother of all cryptocurrencies (BTC excluded)

If we chose BTC then all coins would show its BTC values to be paired whith whatever altcoins you choose.

One of the major things that we would not prefer Bitcoin to be encashed from any exchangers is the HIGH fees. Oh, I would also like to add that during this Bull-Run period, expect the amount of time spent waiting for just even a single confirmation.

We should always remember that pairing only involves 2 coins being exchanged to one another. Example: BTC-USD pairing. If it involves another cryptocurrency being exchanged then it's no longer a paring. Let's say for example you already gained much profits from your BTC and USD trading pair and you wish to exchange your USD to XRP just because of the super less fees and the faster transfer rate.

You are not assured that you will still have the same profits gained from BTC-USD pairing because XRP has its own fluctuations too against the USD. But at this Bull-Run exchanging to XRP and LTC are the best coins to choose from in withdrawing your earnings to your local wallets. Make sure that when you exchange your USD to XRP or LTC, It should be on the RED for you to BUY. You must also consider these small percentages of the surge and dips if you are considering Day-Trading. An actual 10% triumph from your principal amount is already a success!

Profitable Pairings I have used last Y2017 as a sample of feasible pairing.

Bitcoin - Factom (BTC-FCT)

Let's look all the way back to Y-2017 when I started trading on Bittrex. The chart is the trading view that can be seen on CoinGecko as well.

https://www.coingecko.com/en/coins/factom/btc#panel

Then click the CHART button on the upper portion of the screen and click the zoom. Drag it all the way to the left so that you can see the tremenduous fluctuation it involves paired with BTC instead of USD.

The first time I have seen Factom (FCT), it was around 0.003 BTC when I exchanged my BTC to this coin. Take note, I have only used these two coins as pairs. (The trading view projected by CoinGecko is from Poloniex) Then whenever I see the long greens (that's what I called the dildos that time) I sell to BTC then BUY back after a few hours or some days and focus on another batch of pairing. I always see to it that I list down all my profits in every trade (filled SELL order) on a notebook.

As we can see the peak value here in BTC is 0.0125 BTC or roughly 400% including the principal value. But I do a daily trade and the interval that I have used is always 7-days, therefore it is really more than 400%.

I store my BTC on my Blockchain wallet the whole year of 2017 and definitely not leaving it inside Bittrex.

 

Bitcoin Cash (BCH - USD)

I call it the most reactive coin eversince I have laid my eyes upon it.

This time, I will use coinmarketcap to show its triumph being paired in USD. This currency is the Fork of BTC so definitely not so good being paired with where it came from. It was around November 2017 I was given the same amount of BCH from the BTC I store in my Blockchain Wallet. It was rougly 1.86 BTC that time so I had an absolutely FREE 1.86 amount of Bitcoin Cash.

Screenshot source: Coinmarketcap.com

I have traded a few BCH that time and saw that it started with around $400 and eventually started trading my own funds (not from what I gained in Blockchain yet) I started with around $60 Hahaha! Just to test it and was quite amazed by the price in BTC per day can fluctuate that much. Definitely gained a lot from swinging back and forth until I was able to gain one whole unit out of the $60 that I invested (Ok I honestly added around another $30 to the principal knowing it was really behaving so well). I was glad to exchange it in USD and had a thought of just living a luxurious life afterwards after I withdraw everything from Bittrex. I sold all my Bitcoin Cash @ $3,300 and kinda got frustrated when I have seen it even hit the $4,000 mark but nevertheless, who am I to complain from the FREE money that I got.

Let's highlight the entire post by sharing the good news!

The FREE money is around $5,000. Thank you so much Bitcoin Cash!

 

Compared to other traders that I see bragging on the online groups that I am connected, they even got 5-digits profits in USD. I know how to be contented with whatever is given to me. Other than the blessings, I crave for being successful in all of the opportunities handed over to me.

Other Pairings that I have used are:

  • Steem - Steem Backed Dollars (Steem - SBD)
  • Bitcoin - Ripple (BTC - XRP)
  • Dash - Bitcoin
  • Monero - USD
  • ARK - BTC

Let's see how HYDRO being paired with BTC, USD and ETH respectively. Let's be grateful for the Cryptocurrency we gain here in this amazing blogging platform.

The widgets are brought to us by CoinGecko. These are the REAL-TIME values of HYDRO Tokens. It is being promoted by publish0x too.

It's good if we will buy this coin in bulk with around 10,000 HYDRO and above to realize its real value and not be caught up with ETH's Gas Fees when transferring over and over again.

Or let's see my Lifetime earnings in 2 months and a half here on publish0x

Let's consider using Brave Browser as this is the only ads I see here on publish0x. You'll earn here by using this browser too.

Sometimes I see my total earnings hit $30 but then again the earnings from my previous and new posts are still accumulating tips (thank you so much everyone for being generous) so I mostly just rely on these figures from my publish0x account.

Hey hey hey! I am glad you came this far reading my post and I hope you enjoyed it and at least learned something really feasible that we should really pick our best pairing digital assets.

If you do have other pairings useful based on your trading experience then please share it here and let's all give our readers the chance to earn much as well just like what we all did before.

I am still in the process of making a video to share my posts as it is really easier that way instead of me typing.

Thank you so much for dropping by and I will also consider the crypto-pairing that you will share.

Happy earnings from this Bull-run period everyone!

Fycee here!

About the cover photo: I have used this Love-fish painting from our home photo to explain the amazing pairing of certain cryptocurrencies to fiat or to certain cryptos as well. The photo is mine. Taken using Oppo A-3S with flash.

 

 

 

 


fycee
fycee

cryptocurrency enthusiast, writer-blogger, customer-service associate, pets & nature-lover.


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