Confused about trading BTC for Alts.

IceePolarBear

IceePolarBear

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Hi. Late last year I started buying some alt coins like Siacoin and such. I would go on Shapeshift.io and put in a few dollars of Bitcoin and trade. But for some reason it and other exchanges are showing a minimum deposit of .01 BTC. Is there something I'm doing wrong?
 
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Every btc transaction from your wallet to shapeshift or other exchanges costs mining fees.

Exchanges implement a minimum deposit to help offset the fees, as well as to make more money. Its like how some banks require a minimum of $100 to open an account.
 
Most exchanges have minimum deposit required to buy/sell coin. There will also be trading and withdrawal fees so calculate that in.
 
themaou23 said:
Most exchanges have minimum deposit required to buy/sell coin. There will also be trading and withdrawal fees so calculate that in.
Click to expand...
life2ifeless said:
Every btc transaction from your wallet to shapeshift or other exchanges costs mining fees.

Exchanges implement a minimum deposit to help offset the fees, as well as to make more money. Its like how some banks require a minimum of $100 to open an account.
Click to expand...

So is there any exchanges that allow me to put a few $ in to buy Alts? Cause I'm not sure why, but Shapeshift used to allow me to do so. ( I was able to put a few bucks in a few alts and not have to spend like $50)
 
IceePolarBear said:
So is there any exchanges that allow me to put a few $ in to buy Alts? Cause I'm not sure why, but Shapeshift used to allow me to do so. ( I was able to put a few bucks in a few alts and not have to spend like $50)
Click to expand...

It will be tough finding ones that allow only $, however some ICO projects don't have minimum, you could try instead.
 
Last edited:
BigManTing said:
It will be tough finding ones that allow only $, however some ICO projects don't have minimum you could that a try instead.
Click to expand...
I guess I'll have to buy a sum of 1 altcoin and then trade it for others I want since the minimum isn't as high.
 
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