How to change trading pairs on existing portfolio?

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How to change trading pairs on existing portfolio?

Hi Everyone,

I have most of my portfolio paired with USDT (for example CSPR/USDT, CTSI/USDT etc) However, upon doing more research, I wish to change to BTC pairs instead.

What is the best way for me to switch the existing holdings to BTC pairs?

Is it simply to sell the coins and then buy back as BTC pairs?

I’m worried the buying and selling fees would add up to a lot. Is there any other way to achieve this?

Any thoughts would be much appreciated.

Many thanks in advance

Reshantha De silva Answered question August 22, 2024
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What you are holding in the portfolio are not pairs if your trade has already been executed. Let say you had some USDT and decided to trade on the CSPR/USDT pair. This mean you want to buy CSPR using the USDT you have. If your buy order is executed. You will have some CSPR in your portfolio. If you used part of your USDT to buy CSPR. It means you will have both CSPR and USDT in your portfolio. You can use the USDT to buy more CSPR or any other coin that has USDT as the base currency in the trading pair.

If you want to switch from CSPR to BTC, simply look for the CSPR/BTC trading pair and sell your CSPR for BTC.

Reshantha De silva Answered question August 22, 2024
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When you choose an order to buy or sell a specific pair at a specific price, you have placed an order to buy or sell, but no real purchase or sale has occurred, as the order has not been executed yet. You can simply cancel the order and create another order.
Altcoin/BTC pairs require more experience, as it is rare for these currencies to outperform Bitcoin in the short term.

Bhanuka Harischandra Answered question August 22, 2024
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If you buy CSPR in a CSPR/USDT, you dont have to sell CSPR to buy BTC just to buy CSPR/BTC..   You dont have to because you are automatically have the pair of CSPR/BTC..        ALTCOIN/BTC pairs is only profitable during bullruns.
So just incase BTC is about to pump, you can sell CSPR you bought in a CSPR/USDT from CSPR/BTC dashboard to HODL BTC.. And when CSPR is about to pump,, sell your BTC in the CSPR/BTC pair to get CSPR.
I believe this is more profitable than trading only in USDT pair… but remember theres always a risk of losing in trade.

Kasun Premathilake Answered question August 22, 2024
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