@ashr how would you handle buying "expensive" bitcoin in order to purchase alts? Right now bitcoin is around $4300. Should I wait until it's cheaper to buy alts? Or do you never pay attention to bitcoin price if you intend to use the bitcoin you purchase to buy alts right away?
You are viewing a single comment's thread from:
I never really worry about price of btc when buying because some of it I'll trade for alts and the rest will get held long term and I believe it will rise emensly. I once thought it was a bad investment at $700 didn't see the light and start buying it until it was $1300 and I haven't looked back sense
If you're intending to buy alts right away then your intent is to increase satoshi value of those alts when bitcoin corrects a bit. It would depend on the speed that you can get from USD > alts through BTC particularly with the current transaction times. I would consider ETH or even LTC (it's also HIGH right now though), because they'll aid you in making a move quickly. Your strategy would be USD>LTC or ETH> Exchange>BTC>alts, but the .25% difference in fees will likely save you a day at current BTC transaction times/regular fees. If you really wanted to buy in BTC, you could buy BTC, send it to your own wallet, then do a CPFP receiver side transaction with a double fee to get it on exchange.