Hello,
I'm completely new to trading and just funded my Kraken account with 350 EUR to play around / to try.
Now I want to invest in btc/altcoins. I'm wondering which way would be the best. Go from EUR to BTC and then to altcoin (XMR, XRP, ETH, DASH, LTC) or directly from EUR to altcoins?
I'm a bit confused because of the graphic here:
I hope I'm understanding this chart correctly.
The blue line tells me the actual "amount" of ETH.
The green line shows how much USD would 1 ETH cost.
The orange line shows how much BTC would 1 ETH cost.
Now the orange line is way beneath the ETH line, which means that you get less BTC for 1 ETH then it would be if the line would be higher.
So If I already have BTC now, I could get more USD out if ETH then going USD -> ETH -> USD, right?
I would be thankful if someone could give me some explanaition, or corrects me if I'm wrong.
Thanks.
I'm completely new to trading and just funded my Kraken account with 350 EUR to play around / to try.
Now I want to invest in btc/altcoins. I'm wondering which way would be the best. Go from EUR to BTC and then to altcoin (XMR, XRP, ETH, DASH, LTC) or directly from EUR to altcoins?
I'm a bit confused because of the graphic here:
I hope I'm understanding this chart correctly.
The blue line tells me the actual "amount" of ETH.
The green line shows how much USD would 1 ETH cost.
The orange line shows how much BTC would 1 ETH cost.
Now the orange line is way beneath the ETH line, which means that you get less BTC for 1 ETH then it would be if the line would be higher.
So If I already have BTC now, I could get more USD out if ETH then going USD -> ETH -> USD, right?
I would be thankful if someone could give me some explanaition, or corrects me if I'm wrong.
Thanks.
For me personally, it doesn't really matter if you trade fiat for altcoins or BTC for altcoins. The main thing is trade fiat for BTC and then a few other trading pairs, but if you do too many, it gets very cumbersome and confusing.