How to exchange steem for bitcoin on bittrex
A note on the transaction said the funds had been "stolen by the Steem witnesses," and asked Bittrex to "please return them to their original owners prior to the fork. A former Steem witness told CoinDesk he believes this community member — whoever they may be — had access to an app and were able to cling on to the keys linked to the community wallet. Then used them to send the funds to Bittrex to rescue them. In other words, whoever is sitting behind the community wallet may have to declare themselves, at least to Bittrex.
It could be interesting to see who does, eventually, break cover. At the time of writing, the funds still hadn't been returned. I like how easy it is. I went over to markets here, and you can sort then by the date the currency was added.
Buying Aragon, a new cryptocurrency Let's take a look at this Aragon one, which I guess has plummeted 60 something percent. It's the biggest down one right now. If you look at the top left menu, you can then switch on each of these options. You can switch it to a day. It's so new, it doesn't have that much data. You can switch it to 15 minutes here if you want. The more you play around and switch these things, the more it'll take the table.
I'm using the mouse wheel to scroll right now to move this back and forth. Let's say I want to just buy a little bit of this currency. I've got the charts at the left and I can see that the price was way higher when it got listed. I don't know how that works, but maybe someone lost a bunch or just came in down here. This is where the price is at now. At the right, I can see the volume of it, which is Bitcoin in volume that is done. You can see the hour high here. I really liked that.
Poloniex is frustrating. If you want to equate stuff to US dollars, then you don't just want to be stuck in Bitcoin. Maybe there's a switch or a setting input; I haven't found it yet. Then, to actually trade, there are two basic windows down here.
You've got the "Buy Aragon" and you've got the "Sell Aragon. Sometimes on Bittrex, you have to refresh to see the data showing up because it screws up and it doesn't load correctly. Now, it shows that I've got my two and a half Bitcoin available. If I'm putting in a buy order, depending on the price, it's essentially going at the left in the Bids. Then on the right side, the Asks, that's people who want to sell Aragon.
This means that if I want to buy and I want my order to instantly be fulfilled, then what I need to do is look at the right and pick out a price. Let's say I want to buy just a tenth of a Bitcoin over here. What I've done first is I clicked on the Ask for this particular order. Whoever has put this order up, they have agreed that if I pay the price they want for a certain amount of Aragon, then they will give it to me at that price.
What you have to do is put the total Bitcoin you want to spend, which is 0. Then, if you have clicked on the Ask order, it populates the price automatically in the Bid field. When I click the "Buy Aragon" button, a confirmation window shows up. Now, I can see the commission in Bitcoin, which is the commission that Bittrex is taking out of it. I can also see the subtotal in Bitcoin I'm putting in and the price.
I just have to hit "Confirm" now. Then, you will see what's happening in real time at the top right, which is really cool. It shows you when the order has been placed and when it has been processed. Now, you can see that I have less Bitcoin at the left, and I have more Aragon at the right. That's how you execute an order. Do I want to keep some Aragon? I can look at the charts and see that it has been up and down.
You can see the hour high and low too. I just bought it at 64, and it has been as low as 52, so there's no telling. I prefer to buy on more of a flat market though. For now, if I hold the Aragon this potentially gets more complicated for my taxes because if it goes up, then I have capital gains whenever I sell it. The more of these currencies you transact, the more you're potentially building your accounting work up and up.
The worst thing you can do is trade a bunch of different currencies in really small amounts, hold them for a little while like a week or a few weeks, and then sell them because then you're theoretically making a whole bunch of accounting work for yourself. In which case, depending on where you live, then you might need to simplify it a bunch.
It's nicer, if possible, to either buy things and hold on them for a while because let's say, I hold on to this Aragon for a year. I don't have to worry about it. I just buy it. I don't have to put anything on my taxes because I've just bought it. Now, when I sell it, then I have to pay tax on that.
But if I just am holding on to it, then nothing has to happen. For now, maybe I'll just hold on to my tenth of a Bitcoin of Aragon, which was newly launched and see how much that's worth, I'll give it a few weeks or months to see how much that's worth then. If you want to get into some new currency, I'd say that they're quite risky. The price will come out just right for some of them, but for some others it will come way too high or way too low.
Buying Humaniq, another new cryptocurrency Let's say that I want to also buy into this new cryptocurrency called Humaniq because it just came out a week ago. I will show you how to look at the charts a little bit more on this one. It has got the hour high and low and it seems stable relative to cryptos. I can zoom back out in the chart to see better and it has pretty much trended down since it came out.
You can use the mouse wheel to zoom in and out on the chart. Right when Humaniq came out, the days or so after that, it has pretty much trended straight down. Buying one of these currencies can be really risky because some of them will just keep going down for another six months or a year. At the same time though, buying a brand new currency like this could be a great investment.
There are lots of currencies where if you bought a little bit right when they came out, you might have a whole lot of money now. What I can do is buy a little bit on this if I want to. This doesn't look that attractive in terms of it has pretty much come straight down. I don't know anything about this particular currency either, which is a big problem.
If you don't have any idea about the currency itself, what you can do essentially is just bet the market and buy a whole bunch of different currencies. I don't have enough money in this account to just buy a whole bunch now. Sure, if I sold all my Bitcoin, I could put a tenth of a Bitcoin into a hundred different currencies.
I think Bittrex has almost currencies, so I can't afford to just be putting a tenth of a Bitcoin into all these different currencies. Let's say that I want to put in a bit less this time. I could buy a hundredth of a Bitcoin. Now, it doesn't seem to be a too serious of an investment. That does not sound like so much fun. One strategy you can do if you don't know anything about any of the coins, you can just go in and buy a little bit of a bunch of them.
If the market is going crazy on a bubble like it is now, that's a great strategy. If you just buy a little bit of every new currency that comes out, occasionally you'll be a huge winner, and one of them will go up , or times from wherever it was at coming out. Still, you could do the research and balance it out and put more into a smaller number. I encourage what I do, which is a combination.
I buy the market because I don't have time to research different coins and be a part of each community. I do some basic research, find a few that I like, promote them, and then also buy into some of the others for just a little bit. Now, I can easily just grab a little bit of Humaniq at this price. I'm on the Buy side to make my order, but if I want an instant order fulfillment, I need to work over on the Asks side. If you want instant sell, you pretty much need to work over on the Bids side and pull your prices from there.
To pull my price, I simply clicked on the price I want in the Asks section and it populated automatically in the Bid area of the Buy section. Then, I put in my 0. I hit "Buy Humaniq" and I can see that the commission is really small, which looks right.
I can also see the total for my order, so then I hit confirm. Now the order goes in over here and it was instantly fulfilled because it was sitting right there in the Asks section. As soon as I fulfilled it, someone put in an even lower price order. Now, if I immediately try to sell it, I would only lose a little tiny bit. If I sold this right back right now, I'd get almost the exact same amount that I originally sold it for. Why not just buy and hold this for a while.
Selling Aragon Let's say that I have some buyer's remorse about Aragon. My God, it's going to go down. I can click on this order because it will cover it and the price is populated in the Sell section now. Finally I enter my amount in Bitcoin. Now, if I hit "Sell Aragon," you'll see that they're taking another small commission from me, but if you trade a bunch, these add up. My ANT sell order was placed and was instantly filled.
I started with about 2. If I scroll down to go over to my order history, I can see both of these orders in detail. You can see that I just lost a little bit doing it that way. I bought Aragon for essentially , and then I sold Aragon for Now, this is the basic problem with trading. There's a difference between the up and the down.
Just by buying and selling repeatedly, you're in the middle of that difference between the market. Theoretically, if you traded enough times and the market stayed exactly the same, you would essentially lose all of your money eventually between just the difference in the market.
Volatility is good for being able to make some money, but the problem with volatility is that it can make it even worse. Cryptocurrency trading is extremely risky. Sure, there are some upsides to it, and there are some huge downsides as well.
Note that while I filmed this tutorial a few weeks ago and bought a few cryptocurrencies to use as an example here, I have sold everything to Steem since! I'm grateful I've taken the time here to show you exactly how to make trades on Bittrex.
If you'd like more tutorials and videos like this, would you please like this video or upvote the post. That way more people like you will find this tutorial and that's what motivates me to keep making them. Thank you very much for reading this. I love you. You're awesome. I appreciate the time you've spent with me today and I hope you have a wonderful day today.
If you found this post helpful on Steemit, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed? If you would like me to follow you, would you please read this post next?
ETHEREUM FELL
You can follow the verification guide here. You will use the base currency to buy the altcoins of your choice. If you deposited BTC as your base currency, then got to the Bitcoin Market and pick an altcoin that you want to buy using Bitcoin. So, you can buy 0. In this example, the amount of Monero that you would buy is 2. Alternatively, this is the total cost of buying Monero using your base currency of ETH Tip: Conditional order is used when you do not want your orders to show up on the Order book, which lists all active buy and sell orders.
Only when the prices reached the conditional price that you set will the orders be public. Denominations in USD is easy since it gives you the numerical market price e. Final Step: Storing All Coins in a Wallet The most secure way of storing your coins is through having your personal wallets. Although you would automatically have a wallet when you open an exchange account exchange-hosted wallet , you do not have control of the private and public keys.
Having control of your keys means having control of your coins. I will login to my Bittrex account to get my deposit address information. In Bittrex, click on Wallet and you will see the most well known cryptocurrency on the market. Use the search field to look for SBD. You will see something like this. Bittrex provided notice about their deposit recovery policy.
Basically if you make mistake sorry your token is gone, anyway just read the policy. So be careful, and follow the recommended deposit procedure. In this example, Bittrex wants me to use the following information for my SBD deposit. Memo — ec4c Registered Acct — bittrex Go back to my Steemit account, and initiate the transfer. I am sending 20 SBD to bittrex using the memo provided in previous step e. Click Submit to deposit. The 20 SBD will deduct to my current balance, and you will see the transaction in your Wallet history.
If everything is ok, you will see your deposit. Before, no SBD deposit. After, with 20 SDB on my Wallet.
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