cryptocurrency exchange

Hey guys, so I have been accepted to Poloniex. And want to do this scenario. What do you guys think about it?

I will buy a cheap cryptocurrency(can you recommend me any please) and with it buy bitcoins in Poloniex.

What I want to accomplish is make profit through the differnce of those cryptocurrency

It doesn't matter if you buy cheap or expensive cryptocurrencies, to make money, you need their value to grow. $100 worth of cheap crypto are exactly the same as $100 of expensive crypto and both are usually worth the same amount of bitcoin.

The correlation between alts and BTC is inconsistent. In order for this to work long-term, you need to find an Alt coin with good fundamentals, which has the potnetial to appreciate in terms of BTC (sats) value.

I would recommend UBQ (ETH clone with a good dev team and no pre-mine) or ETN (Cryptonote based coin with a great marketing team, mobile mining and agreements in place with major mobile operators).

Both of these, however, do not trade on Polo, but you can easily open an account on Cryptopia, where both are available.

mindcrash said:

Hey guys, so I have been accepted to Poloniex. And want to do this scenario. What do you guys think about it?

I will buy a cheap cryptocurrency(can you recommend me any please) and with it buy bitcoins in Poloniex.

What I want to accomplish is make profit through the differnce of those cryptocurrency

Click to expand...

I think it`s much more effective