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But if I believe in ETH more long term and think it will bounce back faster, it won’t matter if I choose ETH pairs vs BTC?
Probably driven by the confirmation speed and blockchain transaction fees for moving you crypto between exchanges more than anything else
Idk just saw a comment long time back on Reddit when ETH had went up to 1300 telling those who are taking some profits to “convert to ETH before cashing out for some extra juice” and was confused... thanks for the help btw!!
Not by itself typically, the market’s efficiency keeps it pretty well-balanced. So you buy with what you have. If you’re getting into the market for the first time from fiat, you’d probably want to check into the current transaction fees. And then there’s number of confirmations and transaction speed if you’re impatient :-)
No, again, it would only matter if BTC pairs got out of alignment with ETH pairs for some reason, like a short term spike in ETH that sees everyone unloading that coin for ETH and driving the price down, so you pick it up cheap.
You’re not stuck in the pair upon purchase. You can buy EOS/BTC and sell your new EOS for ETH later
Now let’s say I chose BTC pair and if I wanted to cash out a little and take some profits down the line, and ETH had risen by much more, I can change to ETH to cash out? Using the ETH/BTC pair?
I would think you would just but your alt coins using either BTC or ETH. When you want to cash out (to fiat) you should just covert the alt coin to EITHER ETH or BTC (or whatever coin you can move to fiat... if you’re going through coinbase/gdax you need to pick between ETH, BTC,LTC or BCH).
Maybe I’m missing something but I don’t think there is a need to use the ETH/BTC pairing and introduce yet another transaction. Just profit take using the altcoin/ETH pairing.