RE: The Alt-Coin Bargain Hunt Has Begun!
Tip: With the last spike of Steem Dollars (SBD) to $3 I studied what the whales were doing and this is what I learned..... When SBD is really high compared to Steem they go to Market (using Steemit Wallet under Steem Dollar) and they trade their SBD to Steem. For example if SBD is at $2 and Steem is at $1 they trade $100 of SBD for $200 of Steem ..... When the prices come back together - Say SBD is $1.02 and Steem is .99 cents they switch back.... When SBD spikes again they do the SBD to Steem Trade again ..... They trade expensive SBD for cheap Steem. They did this a few times in the last 2 weeks and made 100%, 50 %, 40 % returns each time they traded SBD for Steem.... So I am going to do the same thing.https://steemit.com/steemit/@offgridlife/steem-price-dropping-now-at-93-cents
Good luck.
Take screen shots.
Report back.
I tend to disagree with this style of investing, I think the mentality of trying to grab the Tiger by the tail is a key factor in why many investors get hurt in Crypto Trading.. Why not just be really good trading what you know inside and out..
https://steemit.com/bitcoin/@pawsdog/how-many-coins-you-need-to-get-fucking-rich-yeah-baby
@pawsdog
Reporting back: I made 41 % this morning already (You can see my wallet) Traded 1 SBD for $1.41 of Steem - Now I need to make sure I always have some Free SBD and Steem to trade back and forth. This is the best way to do it since there are no Exchange costs or fees when you do it all within Steemit.
I spent all my SBD buying BTC to do the trading. LOL
I just can't imagine being at the point that I would have a significant amount of STEEM or Steem Dollars sitting around and not putting them into Steem POWER.
I am going to keep about $ 100 in SBD to move back and forth and see how I do and move the rest to Steem Power. This way I will be able to tell what % I go up each day, week, month on that initial $100 - switching from SBD to Steem. If I can make $40 % a day I will be very happy.
Wow, and here I was just converting everything to Steem Power all the time!
I am also earning a little extra Bitcoin with EarnCrypto - watching short Movie reviews and taking Surveys .... an extra $10 of Bitcoin always helps ... You can also mean some extra Steem Dollars or Steem .... https://www.earncrypto.com/earn-free-bitcoin/?r=94125
How much can you make with that a day? And if it's a small amount, isn't it useless since the transaction fees will eat it all?
So was I - that is important too .... Try to get to $1,000 Steem Power so that your upVotes are worth at least 10 cents - that way you can reward yourself with at least $1 a day ($30/mo) .... you can trade SBD to Steem as a way of getting to $1,000 Steem power as quickly as you can.
Every time I send SBD or Steem through an exchange (Blocktrades, Bittrex etc) I get hammered on fees. So not going to do that anymore.
Welp, ya gotta get the BTC somehow, since there isn't any Steem pairing on most exchanges.
I will buy $20 of BTC whenever I see a nice 30-40 % drop - using cash and not Steem.
The last time i transferred $30 SBD to buy BTC through Blocktrades the "Miners" took $17 and gave me $13 of Bitcoin. That's the last time I trade SBD for Bitcoin.
I don't recall if there was a charge to put STEEM and SBD into my Bittrex wallet. There is a trading charge of 0.25%
So you were able to trade $10 of SBD and received $10 worth of Bitcoin ? Maybe I should start using Bittrex.
Well, I was able to load my $20 of SBD into my Bittrex wallet and buy BTC at the BTC to SBD rate, which is not exactly 1 to 1. And the fee was taken out in the transaction, so I put the amount I wanted to sell for BTC and the price, the fee was calculated and I got the BTC .
I'll check into it later, when I have access to log into my Bittrex account. The transactions are there, so I should know all the details.
Thanks - much appreciated. Blocktrades told me that they don't take anything but the Miners took $17 from the $30 i sent ???? Which seemed like Highway robbery to me.
I bought BTS on the Bitshares exchange. I send LTC via a Bridge to get the BTS. Over 6% fees!! Next time I will just buy them on Binance. Lesson learned. I was thinking that decentralized exchanges were cheaper than regular ones. I was wrong.
They all charge you a ton in Fees ... makes good old fiat Bank fees look cheap.