I'm still pretty new to the entire crypto stuff so bear with me if this sounds stupid.
I have a question about the value of a coin in USD and satoshis, and why it goes up and down all the time.
Let's take VEN for example.
How come the current price for VEN (looking at ETH pair) is currently 0.00571000 ETH for 1 VEN, valued at $7.00?
When it was 0.0066 ETH for 1 VEN, valued at the same dollar mark, only a day or 2 ago?
Same for NEO, I bought a few at 0.127000 ETH (valued at around $140-145) , but right now it is 0.119004 ETH for 1 NEO. Yet, the price in USD is higher than before. (now around $148-150)
For example, 100 NEO would cost you an exact amount of 13 ETH. When you want to sell these 100 NEO now, it would get you 12 ETH, but the USD price is the same as it was with 13 ETH, how is this possible?
Am I losing money now? Did I do right to buy when ETH was dropping?
There's probably a very good way of understanding this "issue" but if someone could ELI5 me, that would be great.
To answer your first question, you didn't gain nor lost anything if dollar value is also the same as before. In the case of neo, you have gained a profit in USD but you have lost some in terms of ETH but let me ask, what currency do you want to base your trade on first? If you want to have fiat as your base pair then you are not losing money now but if you want your main base pair in ETH then you are losing some.