I like coinmarketcap as well. Just not as use to it as Coinbase. I did just download the app for cmp so maybe that will be the start of me moving over predominantly
RE: How many times a day do you refresh Coinbase?
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How many times a day do you refresh Coinbase?
Something to keep an eye on is the value a cryptocurrency has when being traded for Bitcoin, sometimes it may be cheaper to trade in Bitcoin as apposed to fiat (cash).
For example:
A1Coin is $17.56 per unit purchased with U.S. Dollars
A1Coin is $14.98 per unit when traded with the equivalent of Bitcoin.
Conversely,
B2Coin is $3.22 per unit purchased with U.S. Dollars
B2Coin is $7.04 per unit when traded with the equivalent of Bitcoin.
However, one must consider all the fees involved with trading in Bitcoin. Otherwise, there is the fact that some (most, perhaps?) Altcoins simply can't be purchased with fiat (cash) and must be traded with another cryptocurrency.
Overall, the point is that you should look at multiple angles, exchanges, websites, and platforms when making decisions, especially if you happen to be a "Daytrader". ShapeShift.io and Binance are two good places to check Bitcoin-to-Alt and Alt-to-Alt price conversions (although you'll need a calculator and CoinMarketCap for ShapeShift (although prices on it change quickly and are volatile, as is expected for it's type of service))
Then again, anybody can make things as hard (complicated) or easy (simple) as is desired.
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Very good points. It’s something I’m looking more closely into. I wonder if there’s much of a market in trading cryptos kind of like how people trade currencies for profits
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Hmm, that wasn't something I considered before. Although capital gains taxes make for slimmer profit margins, I think you're absolutely correct in those regards, especially if one day cryptocurrencies (even if only Bitcoin for the time being) are treated to the same standards as are typical fiat currencies (except decentralized, of course).
Maybe that sort of trading is more common in Germany (even though I believe they still have some form of short-term taxes), however I do wonder which country will be first to consider Bitcoin (or any crypto) an actual currency.
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I have a hard time imagining any advanced nation doing so. States have a lot of their power tied up in the “purse”.
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