Noob Question: Trading Fluctuating Currencies

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My 1 bitcoin was originally worth $16,000 USD but is now worth $17,000 USD. Ignoring fees and the fluctuation on XRP, does this mean my 1 BTC will get $17,000 USD worth of XRP or $16,000?

I ask because I'm hearing that the smart thing to do would be to keep my appreciated BTC instead of changing it for XRP, but I want to make sure the "loss" would only take place if XRP did not appreciate at the rate BTC will and not at the point of trade.

je_reussirai

Posted 2017-12-16T16:59:15.513

Reputation: 1

Answers

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You have one BTC which worth $17,000 so you have $17,000. Now you can sell this BTC for $17,000 and buy whatever you want.

Adam

Posted 2017-12-16T16:59:15.513

Reputation: 3 369

Alternatively, you can exchange BTC directly for XRP on sites like Shapeshift.io and you will receive the equivalent value of XRP for the value of BTC at the time of the exchange (minus the fees). – Dr.Plastics – 2017-12-17T14:31:35.007