I have a theory about this auto-exchange and I would like to see your opinion about this. Let's take for example that we have all coins to auto-exchange to LTC. Each coin goes to Bittrex (only as an example, I know that there are 2 more), it changes to BTC then to LTC. On both exchanges/converts you are losing profits/value. Bittrex doesn't convert for example: ZEC directly to LTC, it goes: ZEC->BTC->LTC. When BTC price goes up and ZEC price remain the same or goes lower, you will lose much of the value because you buy the same amount of BTC with more ZEC. Bittrex has these 3 exchanges: BTC-any coin, ETH-any coin, USDT-any coin. Miningpoolhub doesn't support USDT so we are up for BTC or ETH. What do you think? Should I set a coin in this way to avoid so many exchanges/ converts? Sorry for my english and please correct me if I'm wrong on my arguments.
Example Losing money:
ZEC -> BTC -> LTC
ZCL -> BTC -> LTC
BTG -> BTC -> LTC
ZEN -> BTC -> LTC
VS
Losing less money and maybe is faster:
ZEC -> BTC
ZCL -> BTC
BTG -> BTC
ZEN -> BTC
OR
ZEC -> ETH
ZCL -> ETH
BTG -> ETH
ZEN -> ETH
then withdraw BTC or ETH directly to your main wallet.
Bittrex: BTC, ETH, USDT
Yobit: BTC, ETH, Doge, Waves
Poloniex: BTC, ETH, USDT,XMR
So the best would be BTC or ETH to be set as auto-exchange coin (I would choose ETH because have lower withdraw fee from MPH)
In a way... Yes we are losing with AE.
Here are some expenses along the way:
- From crypto to payout => crypto pool fee
- The not on the dot exchange => Loses % in the exchange now transaction
- crypto to BTC exchange pool fee => .0001BTC
So if you are converting to LTC, the transactitons will be to BTC first then to LTC.
This is why the fees are higher for BTC because, they no longer earn from the BTC to LTC part.
Another option of doing this is to do the trading yourself. It is a good avenue to take if you have the time to do the manual transactions. Plus you can accurately decide when to trade it vs exchanging it on demand all the time. Above a certain number of rigs this would be the best option.