Man, this crap is complicated, but all my current crypto assets are currently valued at $135. I have $40 in stablecoins, $10 in cash, and the rest in other coins. I'm tightening up my plans while learning and want to convert most of it to stablecoins (Tether USDT) that are pegged to the US dollar. That's like having money in the bank because its value remains the same.
It is important to note that withdrawals and deposits have minimums and maximums. Each coin or token (there is a difference, apparently) is on a blockchain platform, such as Ethereum, and they have different limits regarding withdrawals and deposits. Screw up the details during these transactions, and you could lose whatever coins you are moving around. There are transaction fees involved, too; some are better than others. I sell at market value, but there are better strategies for selling. Then there is trading in general, something I know little about.
It seems like the old saying, "Buy low and sell high", is a little more complex than that. Consider the following below.
Two crypto traders are trading low-value altcoins, and both have a budget of one cent. Trader A buys 1/2 of a coin valued at two cents, while trader B buys 4 coins valued at one quarter of a cent each. Both coins gain one-half a cent in value, so now trader A has 1/2 of a coin valued at one and a quarter cents, while trader B has 4 coins valued at three cents total.
It is important to note that withdrawals and deposits have minimums and maximums. Each coin or token (there is a difference, apparently) is on a blockchain platform, such as Ethereum, and they have different limits regarding withdrawals and deposits. Screw up the details during these transactions, and you could lose whatever coins you are moving around. There are transaction fees involved, too; some are better than others. I sell at market value, but there are better strategies for selling. Then there is trading in general, something I know little about.
It seems like the old saying, "Buy low and sell high", is a little more complex than that. Consider the following below.
Two crypto traders are trading low-value altcoins, and both have a budget of one cent. Trader A buys 1/2 of a coin valued at two cents, while trader B buys 4 coins valued at one quarter of a cent each. Both coins gain one-half a cent in value, so now trader A has 1/2 of a coin valued at one and a quarter cents, while trader B has 4 coins valued at three cents total.
A trail goes two ways and looks different in each direction - There is no such thing as a timid woodland creature - Whatever does not kill you leaves you a survivor - Jesus is NOT a bad word - MSB