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Life without Dogecoin: From BTC-Alpha to EXMO via TRON…


btc-alpha

BTC-Alpha  is not some parody on MasterCard‘s logo; it is a boutique-ish cryptocurrency exchange, specialising in assets which other exchanges frown upon overlook.

BTC-Alpha gained popularity during the U.Cash craze, as it was one of the few exchanges which has accepted the listing of the asset.

Read our U.CASH article, describing the drama surrounding the story:

PREVIOUSLY ON…: While stocks last… 100% free, ready to trade: Universal Cash (U.CASH) tokens.

Since we got fucking tired posting random shit about Cointiply’s Mining Game were in need of funds for another project, always had doubts about BTC-Alpha‘s longevity and wanted to test the Doge-free life, we recalled that we had some currency left from the successful sale of U.Cash to USD on BTC-Alpha. Question was – how do we circumvent the fees?

btcalpha

Problem: BTC-Alpha does not list Dogecoin. Why is that tragic? Read our Basic Knowledge: Dogecoin article for further details.

READ MORE: General Knowledge: DOGECOIN

Well, when there’s a will, there is a way…

Browsing through BTC-Alpha‘s listings, we stumbled upon TRON. Perhaps, if we’d spend more time researching, the search would yield a more economically viable transfer method (any ideas, dear readers?), but, hey, we were not speaking hundreds, thousands, or millions, so purchasing some TRX on BTC-Alpha to transfer it to EXMO (which, thank Ho Lee Fuk, supports Doge) seemed good enough.
crypto to fiat
btcalpha1

Suffering a trade commission, a withdrawal commission of 5 TRX ($0.13), we successfully deposited the remaining TRX to a newly-created EXMO TRX wallet.

tron
Source: Coinmarketcap

The transaction took about an hour (timezone-related figures aside), which is not bad at all.

TRON transactionPros:

BTC-Alpha is a shady operation. It still works with CCRB. Nuff said. Withdrawing funds was a relief.

READ MORE: CCRB Giveaway Scam: “Refer and Get Zero”.

1. EXMO is a legit operation. 0% deposit fees – great.
2. Although we missed the U.Cash pump-and-dump, we still salvaged something.
3. (for those unfamiliar with TRON) An encouragement to learn more about a new currency.
4. Proof that the world will survive without Doge. 

Cons: 

1. No Doge? Really?
2. 5 TRX is a steep fee.
3. Unless the plans are HODLing, the next question is converting the TRX to a wider-used currency. Since EXMO offers only the following TRX pairs:..

exmo trx
…a user is bound to pay trading fees upon trading fees. Plus withdrawal fees.

Madness… Madness? This is Crypto!

Lessons to be learned: 

– Every exchange has its own system of fees. Some charge deposit (!) fees. Others charge high withdrawal fees (“for the miners” – bullshit – for their pockets). Earned some DASH or Litecoin on MoonDash or MoonLitecoin? Feel like going to conquer Binance? Hold your horses. At best, you will sell some currency and be left with “dust” (amounts insufficient for making a trade or withdrawal). We can only imagine the number of inactive accounts full of dust. As keep believers in the goodness of human nature, we assume Binance will want to refund every user…

Dogecoin solved a lot of problems; converted to Doge, fees were ridiculously low (1 Doge per transaction). Doge was (and still is) so cheap, even dust can be traded for Doge. Oh well, in BTC-Alpha’s eyes, the system was too socialist.

Conclusion:

* In the cryptocurrency market, one should always have an exit strategy at all times. Ideally, a number of exit strategies.
* The route “from a balance on a wallet of an exchange to cash in hand” should be pre-planned, tested out and regularly stress-tested.
* Avoid the gathering of “dust“.
* Worth with exchanges you trust. Know which exchanges to trust. Strike that. Do not trust anyone. Binance was still trading a currency while the currency’s creators were already in handcuffs, arrested for fraud.
* Create and maintain an “investment” portfolio! We previously recommended CryptoCompare; although it is a wonderful resource, it is not without its flaws. One can create a much simpler-looking portfolio with all necessary functions on resources such as ChasingCoins.
* Coinpot, a faucet aggregator for the seven Moon Faucets offers an internal converter between the seven currencies it represents, as well as a fee-free withdrawal (above a certain number). Although it is not a proper wallet and the fairness of the exchange rates is questionable, the 0% withdrawal fees is cryptocommunism.

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Lightning-fast DASH withdrawal to Binance trading wallet

Following last morning’s news which have reflected upon the coin’s market price, we withdrew some DASH faucet earnings to a Binance DASH trading wallet.

The total transaction time (including manual approval) was just over an hour! In daytrading time can be, quite literally, money, so we were pleasantly surprised.

withdrawing from coinpot quick

Deposit DASH coins to Binance from Coinpot

Unless you are saving up/holding, or have your own plans for your DASH earnings, we would recommend following the news and having an exchange account with a wallet address at standby, should any currency’s price begin to spike. Using a converter is an easy and instant process, but not the most economically efficient choice.

Where to sell, buy or trade DASH?

*note: all the exchanges below have been tested, used multiple times and were proven to be reliable.

Do not miss a chance to register at Binance, – somewhat of a golden standard, regularly referred to by professional traders (total daily transaction volume exceeds an impressive 1,2 billion USD), sometimes pauses new registrations. Binance offers a multitude of professional trading tools, state-of-the-art security protocols, apps and, well, the status of being a Binance trader (joke).

DASH trading pairs: BTC, ETH.

(please note: in accordance to Binance rules (refer to – Trading Rule – Binance), minimum trade for DASH on Binance is 0.001 DASH. If your DASH balance is less than that, you will not be able to set up a trade).

If your main source of DASH is not a previous trade, if you did not buy some coins for your country’s currency or used a converter, but got some off one of the Moon Faucets, get that balance up to the minimum withdrawal threshold if you’ve been neglecting it (DASH is a good asset to have in your portfolio) and pick one of the following exchanges which will let you sell smaller portions of DASH:

Register at Cryptopia. A New Zealand-based altcoin paradise, listing almost 500 coins, tokens and those-weird-names-no-one-ever-heard-about and never will yet, which can skyrocket naturally, or during an organised pump. Would you rather invest in TrumpCoin or BolivarCoin? Is DopeCoin your thing, or you are contemplating adding some GAY Money to your holdings? Were you on a quest to find Philosopher’s Stone? Giggle all you wish; as long as there are pairs to trade and volatility, there’ are moneymaking opportunities.

Humor aside, despite that Cryptopia might seem like some online Tortuga of cryptocurrency exchanges, it is a well-established, user-friendly and well maintained platform, dedicated iOS app, trading every serious coin, albeit in much smaller quantities than Binance. Have you read our guide on making daily withdrawals from Moon Faucets? For 50-60 DOGE you can get ahold of a whole list of new currencies to play with. Some of them will surprise you one day.

DASH trading pairs: BTC, USDT.

CoinExchange is somewhat similar to Cryptopia in its vast selection of altcoins (how can one possibly resist holding Theresa May?). Its minimalistic and neat interface is perhaps more suitable for those newer to trading. We admit having a certain emotional attachment to CoinExchange – it was there where we came up for an idea for a trading strategy; hence it is mentioned every so often, but, considering a healthy amount of pairs of all major currencies, aggressive cold storage policy, great support (including a BTC bounty for bugfinding), upcoming asset trading opportunities, etc., why not register at CoinExchange now?

DASH trading pairs: BTC, ETH.

Last, but not least; an exchange that is too good to miss:

Florifa-based exchange Gate.io offers a mobile app, almost 300 currencies, highest security measures, 0.0% withdrawal fee, cold wallet storage, regular market insights and much, much more.

Pleasant surprise: register at Gate.io using our unique link and receive a 10% discount on trading fees for one year.

10% off discount trade cryptocurrency gate.io
Gate.io Homepage
GateIoSignUp
Resigter at Gate.io

 

DASH trading pairs: BTC, USDT.

Best of luck!

(disclaimer: the article is not written to encourage you to trade, invest, hold, or purchase any currency)