Bitcoin Blog a1

Thursday, April 30, 2015

In the Exchange ( buying Dogecoin or Bitcoin or whatever!)



On the exchange you have a sidebar with the different markets. Cryptsy has so many markets its confusing. Let's say you want to look at the dogecoin market, you have quite a few options. First you can look under USD and find USD/DOGE and exchange doge for real money. Note, you will need a verified account for this.

You also can look under BTC and find the BTC/DOGE exchange.

 

Here the price is denoted in satoshi with 44 satoshi being the price to buy doge at and 43 being the price to sell doge at.


This is a very active market and there is no price gap. You can also trade litecoin for doge in the LTC/DOGE market. This is a comparatively less volume market. It also features a generally larger price gap. The price here is listed in litoshi ( i.e., satoshi for litecoin).


One thing to remember is your order doesn't need to be at the current price. You can put any price into your order. But if the price is too high, you won’t sell it right away ( or maybe even ever).

3 comments:

  1. I am not in a favor using these kind of digital currencies at all. This is not a good option to replace the actual currency.

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    Replies
    1. But your username is Digital currency! Do you suggest using other digital currencies? And also, just to be clear, I'm not supporting replacement of fiat with cryptocurrency. Thank you for the comment though!

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