Bitcoin Forum

From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.

Is there a way? Any suggestions?

You can change your bitcoin to the dollar first (if the price is high), and when the price is low you can go back to buy bitcoin, and sell it at a higher price

Yep, that's the problem with getting paid in BTC.  People are always wondering how to earn it directly, but the volatility is a huge drawback.  If you're using it to pay your bills and such, you ought to convert it to fiat as soon as is feasible. 

If you think bitcoin is going to keep going up and don't need it immediately, just hold it.  I don't know of anyway to hedge the volatility, and I've never heard any good suggestions as far as that goes.

Sounds like what you really want is tether, its a digital currency that runs on the blockchain fixed to the US$.

That is the only way to guarantee you have the same value later on as what you put in or received.

Yeah , exchange them to fiat. End of drama.


That is a one way trip to getting scammed.
Nothing guarantees the value of that scamcoin.
They just dumped it on fools at a 1$ price and let's see how it will do if in two months you will try to get it back.

Wait for them to fill in their bags and you'll see how it will unfold.

If the payment you receive also different, if the price is
high, you get paid with 0.2 BTC for example, and if the price goes down you get paid 0.3 BTC. If that's the case, the best way is to save the btc you received when the price went down, and find the right time to sell the other. Of course the choice to keep it in the long term is a wise choice. Make a list of btc you received in detail, so it's easy for you to manage it.

make sure that you know when to quit using your bitcoin or not, what i think is if you value how much it costs you also know when to buy low and sell high, think of it as an investment if you know bitcoin will go up in the coming week, you won't loose, since the value in dollar will also rise, but if if your intuition tells otherwise, do some research and try to see it on an investor's perspective, that will surely help a lot.

you can short the same amount of bitocin you get, on an exchange, its a good way to be sure you ar enot gonna lose any fiat money from the bitcoin you get, you can do instantl-y when u get it

Just don't sell them and wait until 2039 :-[

I don't really understand you. You don't want to cash it out and you want to keep it in your wallet with fixed value. Then what do you plan? This is not possible. You have to either get USDT or cash it out for this. Otherwise its value will fluctuate much.

I guess the OP would need some balls to hold those bitcoins up until the right time where he would have made more than 100% profits on this investment. That's when you can say you haven't lost any value in BTC because in the short term you'll be taken on a roller coaster ride.

OP, your problem has an easy fix. Buy and hold, fasten your seat belts and enjoy the ride. Bitcoin will always be very volatile, nothing can change that. If you want a more stable currency keep holding US Dollar notes.

If you are getting paid a fixed amount in dollars, let's say $100 (0.036xx in BTC now) the best way to retain their value is to exchange them for a Fiat currency immediately, you could directly use the exchanger's BTC deposit address too.
That's if you don't want to risk losing any value, you could also hold and see how it turns out.

I can understand your concern but honestly you ate just being paranoid. For example say you had 2k two weeks back, that took a plunge to 1700$ last week and this week it went 2700+ so what loss did you make, look mu suggestions is when prices are. Going down don't look at it, and when it's high sell it, a tip: in Bitcoins what goes up down, comes up stronger and better. Or if you need Fiat then keep on trading it for Fiat when you feel prices are high.

this means you are accepting the risks and have so far been earning a lot of profit.
lets say you started doing this only for the past 6 months. and that means if you got paid $2000 in January now you have $5500 because of the profit you gained from this past 6 months for just letting the coins stay in your wallet!!!

it is not for "lately".
bitcoin has always been volatile.

so far bitcoin has NEVER lost 50% in one day.

yes sell it for cash and hide the cash under your bed. that way your bitcoin value will stay the same in USD forever ;D

There's no guaranteed way of doing that unless you convert to USD immediately or have a vender or business account with BitPay or coinbase that immediately converts anything you're paid directly into fiat. Up until at least now if you have held through an entire year you wouldn't have lost anything unless you got paid when bitcoin was around $3,000

bitcoin is very volatile, so there is no assurance of it having a fix price value. but you can note that keeping your bitcoin is a good way to earn. from time to time bitcoin prices rises so if you just keep your btc soon youll get rich. dont mind if btc price fall because that is normal. rather be positive that it'll go up sooner or later in that way you can minimize losses from trading bitcoin.

If you are afraid of taking chances or risk then sell right away when you received your bitcoin but I think you will regret it if you do so...though bitcoin is so volatile it still gives higher return for investment its a matter of being optimistic and try to risk little of your earning you never know it can give you good income

Yeah!  You tell him Herbert!  Bitcoin's never lost more than about 35% in one day.

From April 9th to April 12th 2013 for example, the daily changes were roughly -25%, -30%, and -35%, and the total 1-week plunge was only about 75%.

Even throughout the 2011 bear market, the price rarely dropped by more than 20% on a single day.  The 93% price drop was spread out over almost six months!

...

Wait.  I'm not helping am I.

Make use of payment processors that converts all bitcoins received into fiat for you. This cancel all volatility and reduce the risk of losing value, when the price of those bitcoins goes down. The negative impact would be that you will miss out on the profits, when the price goes up.

Some of the payment processors even give you the choice to convert say 50% directly to fiat and retaining 50% of it in bitcoins. You chose the percentage according to your preferences. < This might be your best bet > 

Here in my country Bitcoins can exchange into peso. In coins.ph bitcoin wallet so in case bitcoins is down I exchange it into btc and when bitcoins is up exchange it i into peso. so I also doing trading. in my 2 in 1 wallet.

The fluctuation is normal with btc. It's best if you try to convert your btc into your currency, then if there a decline in price, you will be able to buy btc again. When its high, sell. When it's low, buy. In that case  you wont lose but gain more..

though bitcoin is so volatile it still gives higher return for investment its a matter but It's your choice whether you're afraid or not ;)

That is one of the advantage and disadvantage of Bitcoin, if today the price go up then you will have more dollars, so volatility also can become your advantage and there are no way to control this, unless you change it to fiat and changing to alt coin also not a good idea, but I will suggest you to keep your bitcoin, you will gained more profit rather than change it to fiat

and if the price go up, we can sell it to make more fiat and if the price is down, we can buy it. but all in all, i think we are not going to lose $ value in btc because if we can get the different from what we buy and sell, we can make profit (money). so this is the advantage of trading bitcoin pair fiat and i suggest to keep amount of bitcoin in your wallet and you don't have to trade all of your bitcoin pair fiat, just don't sell all bitcoin you have and only sell in base buy plus make a profit in middle range.

The only thing you can do with your bitcoin is to convert it to cash if you really don't want to lose any of your earnings. If you are not investing on a long-term then you should pull it out and withdraw especially if the trend is goin down.Only long-term investors don't mind the fluctuation since they are planning to hold their btc for a minimum of five years up to ten or even twenty years.

Convert every bitcoin you have if you are afraid of losing your money but make sure that the value is reasonable before converting it like right now bitcoin raise to $2800 I think you will not lose some but instead earn.

Practically correct there isn't a bitcoin service that will allow you to hold and lock in on a certain value unless you sell your bitcoins

In as much as there is risk, bitcoin holders usually profit from this volatility thanks to the rallies and all speculations that excite investors(whales) to buy more, if OP doesnt need to use the money immediately better hold or buy cash equivalent goods like a gift card

Well, Bitcoin is known for how volatile it is, and how often the prices of it rise and fall. For example, last week was a classic example of it and Bitcoin feels almost 1000 USD in a day and rose back up in 10 hours.

To make sure you don't lose value in bitcoin, there is only one option you can do. Cash out. When bitcoin is high, say around 2.8K I would recommend you just taking half of your current Bitcoin out and then holding the rest for a next rise. Investing in Bitcoin is useful, but you should know when to cash out.

I was also finding the same solution as OP but Tether how i can believe this coin if any dump happens will that able to hold the same value and how about its growth if it fixed to same value why should investors invest on this??.

you can just wait, it's going down, but then it always grows. you won't loose money, if you have them in btc.

if you are for the long term does it matter if bitcoin go down a little and then recover? better to not stress yourself with all the up and down, just relax and use your bitcoin when the desired price is reached, but if you need to convert quickly use a third party that auto-convert

That's the only available option you can go for. Hold your btc until the price increases and then when there's a rise in price sell them and buy the bitcoins again when the prices drop otherwise get paid in USD which is a more stable currency than bitcoin.

Yes ,Here we have a way . First all make a better analysis in the coin market cap for which the price is at low and stable from one to two months and buy these coin in small small amount ( invest your Bitcoin in different different coins) .
In this way you will not get loss of money because thier price are at low and stable and If the market will rise then surely you don't have need to take loss and also if the price of any coin will go down then the other coins small fluctuations in price will counterbalance your money that you invested invested in the coins .
So in this way you will only get profit or net gain profit/loss zero and your money that you have placed will remain at stable .
And also here a best way to keep your btc at stable is to invest in any legitimate project ( investment in poloniex to.land or in yobit.net for 0.2%/day ) .
Hope you understand and will.follow my idea .

I think you can only do that by changing Bitcoin to USDT instantly and holding that. You can't do anything else otherwise, except also exchanging BTC to your currency. Bitcoin is experiencing a lot of volatility, which yes, it could mean you can spend 0.001 on a drink today and 0.005 tomorrow. I would exchange BTC into fiat, only as much as I need, instantly when I receive it and hold the rest in a 'freezed' wallet, for example a paper one.

Simple, just sell your bitcoin for normal fiat currency when the price is high. A good time to sell would have been 3 or 4 days ago since the price was at 2750 USD, but now it has dropped a hundred due to August first speculation and FUD. When August the first is finished, I would recommend you to sell at least 60 percent of your Bitcoin, so you have that money. Then just hold the other 40 percent and think of it as an investment.

After you accumulate more Bitcoin from freelancing, you can start investing more, and maybe even get into trading, although trade at your own risk.

The only way to make sure you wony lose any cent is to cash out or convert all your btc to usd or what currency you have in your country if price today is equal or more than the value you spent on acquiring them before. If you dont have the courage to risk then dont let you money stock in btc coz btc value keeps on flactuating either pump or dump no one knows specially this coming chainsplitting that would happen.

Since the bitcoin fork is approaching I think you should convert your BTCs to USD. You may further convert them to Btc after forking.

Fluctuation in the prices is not a big issue if long term plans are in action. Loss and profit in business happen in any business roadmap. I think if one day the price of bitcoin come down so most probably it may increase next day. So, in business you will wait for a best occasion regarding profit.

There is no way that you could locked the price of your btc when the time you received it with the same value no matter the price will go up or down. Unless you convert it into fiat or tether. But since you wanted to keep some of your savings into btc, the only thing you can do is accept the fluctuation happening from time to time.

the market price of the bitcoin is a bit low now a days but we cannot say it will remain the same for long time according to my suggestion the bitcoin is the best way to earn money and to increase your money so I think the price of the bitcoin will be more high after august first so it’s better to invest in bitcoin and make your future secure.

Yes the price fluctuation will not affect if you are looking for long term investment. And don't get panic to see the price fluctuation it is common in the crypto world. Once you decided to invest for long term just buy coins and save it in a safe place don't look for a couple of years. Means how many years you plan to wait. But you should check the price updates regularly it will help you how many years you want to wait to make a good profit.

Actually there does not have any way to fix the BTC price in your wallet. I don't know when you get paid the BTC, that you are talking about. The BTC price was all time high in 11th June, 2017  price was 3018$. If you got paid that day the then there is a possibility of maximum loss. Now today BTC price is about 2500$ and couple of days before it was about 2700$ . So it is still a very good price.

 And you want to fix the amount that mean you need no profit or no loss from the coin. So I suggest you to convert it into USD( I mean Currency that you use ) and save it in your Bank . This may be the best option for you. Good Luck.

In bitcoin we cannot make sure not to lose value in btc. Somehow, you need to be observant the movement price in the market because bitcoin is volatile it has uptrend and downtrend which traders earn profit. I also used coins.ph here in my country I always check the bitcoin price I buy back when its downtrend and convert it to fiat currency when pump. So its best to check the price always so we can convert it and we cant lose.

Exactly. We must constantly check the price and buy when there is a good opportunity. July 16 price of 1 BTC = 1800 USD. Now 2750 USD.

Yes the best solution I can see is check your account where you put your money and the exchange site you use to convert it to fiat money so that you can manage your money every now and then. Then best is convert it to dollar or fiat from btc if the price rises. The key is to be active and see the trends in the crypto trading field.

 

If you compare bitcoin with all the other virtual currencies, I'm sure it is the safest currency. It is very difficult for a bitcoin to lose value, besides, the profit generated from bitcoin is also huge.

It's really a hard call whenever you decide to buy anything with BTC. You would've bought your Bitcoins when it was at a particular price and by then, it would have varied positively or negatively in price (positive most of them times for longer terms) and this will have you confused if spending BTC to buy those things would be worth it or not. Ultimately, it would be your call and with the ever rising price of BTC, you're sure to never lose value on the longer runs.

Well OP's question was about how to fix the value of bitcoin today since he gets paid in bitcoin. The reality is bitcoin falls just as often as it rises so there is no way for him to lock in his prices other than selling his bitcoin as soon as he gets paid.

If you didn't really like to see price fluctuations then you shouldnt engage to bitcoin on the very first place because its always been part of bitcoin its price volatility which means it does move and you bitcoin holding will really be always affected.If you don't like that then cash out or exchange your bitcoin into fiat and you will able to see your money is fixed already.

I think you should save your bitcoin in your wallet. You will benefit from bitcoin fluctuations. If you keep it for a long time you will get your capital back. But if you turn it into fiat money .. then you will not profit from saving your fiat money.

Just control the price every day. It takes a few minutes a day. Then you will be sure. You will not lose.

Bitcoin price always fluctuate and it is normal due to bitcoin is an object to get more profit, for now.
Until we have bigger acceptance and steady demand because its usability, then we should get used to it.
The idea to be paid with bitcoin is a complicated situation, just like Op have mentioned, while we keep bitcoin, there is no way to set certain price in order not to lose the value in $. Because we're on competition to buy and sell at the right time, sell bitcoin whenever you want at the peak, after bitcoin rise significantly - it will get corrected obviously.

If you are really concerned about bitcoin dropping, why not just convert your bitcoins into USd or whatever fiat you use in your country, as soon as you get the bitcoins you get paid from your freelancing activities? It's really as simple as that, you know.

But that means that there is really no point of getting paid in bitcoin at all, you can literally get paid in paypal and avoid the transaciton fees and the conversion fees between two currencies, etc.

Just hold onto your bitcoin man. You won't be scared of fluctuations after a while because you get used to it. Unless you absolutely need that fiat value to stay constant, then just hold your bitcoin instead. Bitcoin has actually been a lot more stable in recent days than in say 2013.

saving bitcoin for a long time maybe can be the answer as we don't use our bitcoin for anything. but i think you can prevent this by selling your bitcoin in high price when its increase and then you can buy bitcoin again if its down. only sell the amount that you think you can return your bas buy price and plus make profit and keep the rest of your bitcoin for a long time.

You can exchage it to USDT and then exchange back to BTC only when you need to.

Actually it is hard to figure out since having bitcoin is taking your dollars into a risk, a risk where in when you put your money into it the assurance on getting back of your money is just 50% in my own opinion because when cannot figure out if the coin value will rise up or just get lower and lower but the suggestion I can give is a technique on not to lose your investing money, like other stated if the price of the coin gets higher, sell your coin not less than to the money that you invested then when it goes down buy again, the do sell and buy, like a cycle as long as you are earning.

This isn't a safe solution. Read the terms of Tether. Legally, it's not redeemable for anything, let alone cash. It's supposed to be redeemable at 1:1, and in the past that has been the case, but they are not obligated by their terms to do that. Be very careful.

Also, Tether is owned by Bitfinex's parent company, which means they can't even process USD deposits/withdrawals anymore...

Unfortunately, I understand where the OP is coming from all too well. And it's the reason that I've lost a good deal of profits over the years in exchange hacks, exit scams and seizures.

On one hand, you understand the purchasing power of your bitcoin profits, and you want to retain that. On the other hand, you want to quickly be able to buy back into bitcoin once the trend reverses. There are no decentralized methods to do this with fiat money, so we traders need to maintain some level of risk exposure to exchanges.

There is no other way. Cryptocurrency's volatility makes it risky for storage and investment. So once you have it and you know it can go down, exchange it so you dont experience like that.

As many posters in this thread suggested you can immediately exchange the BTC you get for your job to fiat and that would be the equivalent to "fixing" the price of your BTC. However, I wouldn't recommend you to do that. If you don't need your fiat right away it's better to hold your salary in BTC just paying no attention to the price dropping sometimes because it will rise more in the future anyway.

Don't put money in btc in the first place if you're quite hesitant as to where this investment will go. Every day, the value of bitcoin fluctuates very wildly and if you are the dude who keeps on checking the price every hour, this is not good for you. Before placing your life savings to bitcoin make sure you know what this is and how will it affect you in your life, especially your financial needs.

Yup! that is right, right now the price is in the high place and keeping your bitcoin is a great plan and wait for further increase but if you are a guy that is very hesitant and so afraid to lose your money on bitcoin then it is OK to back down and just put your money on banks and not in the bitcoin wallet, because your money is gonna lost without you noticing it, but I think if your investing in bitcoin look for bitcoin and not the value because you just ending up lumping bitcoin to fiat money.

If you want a fix payout, just use fiat, it is more stable and popular than Bitcoin. If you don't need access to your salary weekly, I would just recommend keeping it in Bitcoin, especially with how high the prices are today, just today alone, Bitcoin has crossed the 3k mark and was pumped up to 3.2K. Here is what I would recommend doing this:

Set a specific amount, for when to sell at, say 3.5K and when Bitcoin reaches that amount you would sell around 50 percent of all your Bitcoin. Keep the rest as an investment, and sell that when Bitcoin goes even higher. That way you will always have fiat and Bitcoin.

This is an investment and bitcoin is one of the most volatile currency in the world so there is no assurance that you will not lose $ or money from having bitcoin because if you want to have that kind of investment then you should not invest in bitcoin because you are afraid of loses and a good investor never been afraid of losses and they are so very risk taker.

Well, its actually one of BTCs advantages as well as disadvantages, the price volatility. It is one of the risks that you take when tackling BTC. One thing to do is to convert money to other currencies, save a small part of it, and buy BTC when its price is low with the amount of money you have not saved...(kept aside for buying again). Then repeat.

This is not fool proof, as if the value of BTC goes low too much, there won't be any way to continue this cycle profitably, but this is a way to ensure that you don't loose everything.

However, to be safe, NEVER invest what you cannot afford to lose. This must be your Golden Rule.