Bitcoin Forum

I am new and jumped all in...what I lack is exit strategy.

Not a full EXIT but to secure some of your "gains" to real earnings.  OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.

Anyone have good tips when and how you do it?

That's a very good question.

I always used Virwox to withdraw my BTC to my paypal account and then used paypal to withdraw to my bank.


I'd love to hear other methods to withdraw funds, if people know of any?

It's a lot easier to buy BTC using FIAT, then it is to get FIAT for BTC in my country.

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EDIT : someone mentioned paybis in another thread as a method to cash out, but I haven't tested yet, so tread with caution if you try it.

I plan on holding almost everything until BTC is a decently major accepted currency. I can buy a lot of things with it already. To me I do not care about the daily swings between $4,000 and $4,600, I am in for the $10,000 -> $50,000 mark.

This is money I do not really need and treat it as investments and intend to keep on growing it.. technically this is my exit strategy from USD!

Agree with you ! Why to exit your BTC and altcoins in FIAT if you can spend them for real good and services ?  The only last thing you will not be able to pay with crypto is taxes (but will it change one day in the future ?)

At the moment, in my country I can already buy many things with BTC. But I do not use it for my daily expenses. I keep it a store of value and investment for the future.

But your question is still relevant for people who immediately need cash (to buy a house for example). So yes, please share your own exit strategy !

I sold most of my btc at 1200, so maybe don't listen to me. I guess this is a tricky subject huh?

I deal with a local trader who is almost ready to buy bitcoins at all times.
So whenever the price gets high enough and I'm ready to sell, I just pm him and he sends the cash to my bank account in a few hours.

Just try to find someone like this in your local area who invests in crypto.
I've used a service called Virwox a few times in the past to buy bitcoins using paypal and they withdraw as well but I make sure to take a look at the fees before dealing with any service.

Good Luck

The best time to exit from the market if you are seeing your portfolio already got the big pump and you can exit from there with a huge profit, Likw what was happened with my self, I was selling my ethere at the high price when it touch $370++ and i was back to buy again at $277 and i get a huge profit from my investment.

Yes that's totally me. I think the same, but I actually playing safe I have already broken even with what I had invested and whatever BTC that I am holding right now is pure profit BTC, so I won't be even too broken if BTC crashes.
OP you should do something similar, for example if you had bought 1 BTC at $1000 today you just sell 0.25 BTC and get put your $1000 and hold on the remaining BTC with no problems.

My exit strategy is to not get out until bitcoin is accepted everywhere and no one makes a big deal out of it, at that point bitcoin will be very valuable and I hope to have a good amount of bitcoin saved already, if that is true then I will buy some properties and rent them and I will retire immediately, since there are a lot more things to do in the world than working to earn money.

Simple.  Exit a trade on weakness and enter it on strength.  But it's not as simple as that, market sentiment also matters and it's not as easy to gauge.  You sometimes get a feel for it as you gain more experience trading and watching the market 24/7 like many of us do.  I'm not saying I'm a good trader by any means but my gains have been more than my losses.  I'd surely want my winners to be a lot more than they are now of course but that comes with practice and experience.  Hopefully I get there.

In the first place, I only invest with what I'm willing to lose. First off, I sometimes pull money out from my investments when I'm short on cash. I plan to stop doing this because I'm hurting myself in the long run, but as a college student, I can't really treat this as a completely long term investment, even though I plan to.

I always keep some USD ready on Gdax to buy more BTC if it drops suddenly - this is typically where I exit from. I try to keep a couple hundred dollars in here, and the continual buying/selling of btc slowly builds this amount. This helps me keep my main investments in hodl mode, so I have a place to withdraw from when I need it. On top of that, I skim money off the top to keep adding to my investments. Then, when my investments make returns, it all keeps cycling, and I get to keep making more while taking little bits when I need the cash. I still pay taxes on it at the end of the year because I choose to, even though I could technically go a sneakier route and get higher profits. But I'm trying to do this clean and good - which means that I'm staying in my investments and exiting ONLY when I need to.

My final exit strategy? Don't plan on having one. Investments grow over time - some will crash and burn, and while I'll try to see them coming, I'm in this for the long run BABY. I'd withdraw from gdax as usual, though.
HODL!

Yeah ! Definitely ! keep your BTC untill they go mainstream and be accepted everywhere. Their value will be huge and so your buying power !

Don't sell or trade on a short term basis. Hold, hold and hold ! That is my strategy !

My exit strategy is always to exit to BTC :D
Btc is my safe zone, and if needed, the coins I would exit from would be some solid ones like Eth, Ltc, Dash.. so that if I don't get the chance to exit them, I don't really feel sorry for they might jump back up anytime soon.
And for the rest of the coins I purchase.... I am ready to lose them all if shit goes bad somehow. Trying not to get emotional with it.

Maybe I got you wrong but people were writing about selling btc for fiat, whereas I really thought that you meant exit in trading. I think it this case it's best to decide the profit for each coin in advance and maybe just set them for sell right after buying on the prices you expect them to reach. If you invest $100+ then I guess even 15-20% profit is really nice. If you are a small investor - aim for at least +100% for it to make sense. This strategy will help to win from trading and minimize stupid losses.

Other than converting to Fiat (Cash), you can consider to convert to USDT and buy again when the market move in your favor. In this case, you save on the conversation fee to fiat (which is usually more expensive).

I will divide exit to 2 different methods, one exit is to exit to FIAT so that I can use the money earn. The other one to exit to some reliable and potential coins in low price vs BTC, this is another low risk investment if I want to keep the money in crypto-world for investment purpose.

Conversation to tether give more chances to loose because USDT <> USD. It's artificially created currency. From last news not all count of USDT is secured by US. Who knows what happens if tether.to will dead?
Imho decision depends on trading pair and profit count.

I plan to hold the most of my bags for a few years now. I dont like to play short term coins, because it stresses my to much. I just pick my favorite long term positions and let them slide.

Maybe I am going to take some profit in the next year, but I guess thats not more than 25% of my portfolio. Should be enough to hae a great time :)

no actual exit strategy, but I usually try and sell something before major peaks (usually around new records being set) to secure some gains and either rebuy after a dip or just keep the profits and use them (like for a new bike ;) )

it is one word or 4 letters: D U M P
you should do it as fast as you can. it is all pump and dump, and for some coins the pump takes a couple of days to even a week and some coins it only lasts less than a day. you have to dump fast depending on the coin. if it is one of those big coins like ether which takes longer to pump then keep it until the pump is at its max. if it is one of those small coins that are fast pump and dump then don't hesitate on dumping.

and don't worry about the rest of the pump as long as you got a good profit out.

I think he is asking about both, he is asking about how to perform an effective exit strategy when it comes to trading and how to cash out his bitcoin, about the trading part I’m not an expert and I do not like the idea of holding extremely volatile coins, I prefer to play it safe and hold for the long term, that way I do not have to deal with the stress of having to watch the markets all day.

It is all about my feelings. I dislike to follow very long term bull runs. If it lasts too long I left in somewhere. I also use RSI and MACD for easy exit points.

Do not exit to FIAT. Some projects (bankear, tenX, iconomi, etc) will allow you to withdraw from you token portfolio with a classic debit card at the current exchange price. I hope and that in the next future (5 years ahead) paying with crypto will start to become mainstream.

This is the right way, I do not want to get some short term profits, I want to get big profits in the long term and the only way to do that is to invest in some new promising coins hold for as long as you can and wait for a pump then you cash out and do it all over again, if you are talented at it then it could be possible for you to leave your regular job and instead dedicate 100% of your time to trading.

to work with exchange as investors might have with personal decision to release funds as wait within terms as met of limit with the decision

as exiting terms or to begins with the different stages with the new phase of terms.

The exit already happened when Bitcoin hit 5K USD. Expect 2766 USD if we break support in the next 72 hours. You missed the exit door...  :D

Ideally, you will never exit. Crypto will gain more and more mainstream adoption and the process of converting back to fiat will be useless. If you believe coins are going to catch on as legitimate payment systems and power the 21st century economy, you should never exit and only continue to accumulate.

Everybody has their own exit strategies but for me there is nothing specified exactly for most of the top coins like BTC or Ethereum because they loose it's value only if it's converted to Fiat. For shitcoins I suggest you to exit as fast as possible or until you are satisfied with your profits.
If you do day trader then exit around 5%

In a perfect world you have already spread your bags out. However, the reality is that 12% in the stock market is killing it. My goal has always been 20%, and hang onto about 10% of your bag in case it gets an insane pump, as long as you come out ahead, you can roll it into another opportunity

You know, I wish more people like you would come out and say it. I'm sure we're a minority, but a significant one. A lot of us, even those who only hold a fraction of BTC (my fraction recently grew to 0.25 BTC) are holding and just sincerely hoping for the long-term goal. Even when BTC went almost to $5k I knew it was way too soon. Now it's coming all the way back down, I'm still not worried. It's an investment an if it ever became 0, I would shed a few tears but it won't be the end of the world.

This is our lifelong exit strategy from the rat race!

Thanks for this tip. I will remember it when I would get some fiat from my BTC.  ;)

It’s kind of hard to tell that to someone that is trying to keep their coins within their storage because they want to see a pump even if they have the risk of them losing a bunch of money for their coins. It’s even harder to tell that to someone who is wanting to sell their coins for an emergency as well.
That technique does seem like a pretty good method though, it would make it look like you are trying to sell all the coins that you have and have around 20% of all the other coins. Why not invest in only 4 coins?

So to clarify....

1. I am not talking about exit from trading.  Just to secure gains when goal for a coin is reached.  It is hard since you always think maybe it will go higher then BAM!  All the gains are gone.   Anyone experienced that?  ;D  ???

2. Taking refuge when I believe a major dive going to happen (like now).  Keeping the alts converted to BTC is not as great since BTC also takes a dive.  Sure it will rebound but there is a major opportunity lost in there that need to be exploited.  I think selling BTC at GDAX is the best option for me...then re-purchase before the rebound.

Converting to USDT/Tether is not a good idea IMHO, since you lose out a lot (more than most think) by "parking" your money there.  I'd rather park it in real dollars than USDT.

My exit is to bitcoin. This is more "real" then anything you can buy IMO.

following use of returns with the work on anchoring as moderating release from the different chance as qualifying with selection of priors with the strategy as best to gains with the finale to complete terms as collecting returns with the investment.
to goes with shorter or keeping with the longer terms as the investment projects plan.

You do not have to exit completely, you can cash out enough to recover the money that you invested in the first place, that way if everything fails you do not lose a single cent, in the other hand you could withdraw enough to buy something that can change your life like a house or property that way you will get something out of crypto and your time invested on it is not going to be wasted.

I trade on btcc and bitstamp and can exit to usd. So i set up my limits, both buy and sell, that way I'm never caught out. I don't have a lot of experience with coins but I did this strategy with btc. sold a touch too early but set up my buy limits perfectly so I made a nice gain.

For alts, i use bittrex and all the alts I'm not planning on holding long term have stops set up. I trade the alts to btc.

Before you place your market position what you do is that you need to know at what percentage of profit are you going into the market for? And at what loose can you afford in case it doesn't go in your favour. Be sincere to your self stake to this principle to avoid being greedy, for greedy it's negative implication.  

This is one problem I've also got. I have a local wallet but the spread is significant that it will terribly lessen your profit, even worse is that it might be reduced to nothing. That is why I am choosing Tether. I've got no option as to convert them into fiat. Fees will kill it. Withdrawals I do are always on big amounts.

if in my opinion. you should be sensitive to cryptocurrency conditions. one way to get the best way is to update all developments about criptocurrency. from there you will more easily determine a good decision

The win win strategy is Just invest the amount only what you think you can afford to lost. If you lost this investment then it will not hurt you because you already declared that amount lost is nothing but if it will sucess then you will earn suprisingly unexpectedly in that would be great.

i am trying to buy a long term coin then if i will in profit then i sell it in profit . And then i do wait for  another deep when i can find a deep try to buy more coin and hold for long term.when i see btc goes down persistently i convert my btc to usdt.Again buy btc when it goes more deep
 

if trying like that, maybe it is very useful to take advantage on the sidelines of loss,
but if you do not have such a trading technique would be a loss

1. i am experienced with this. and from this, i always take profit first after I see that I can make at least 20% from the coins. for example :

I am buying dgb at 0.00000125 satoshi price for 10,000 dgb = 0.0125 btc. then suddenly the price is increase at 0.00000175 satoshi and if I sell 10,000 dgb, I can make profit 0.0175 btc. but I only sell 0.00000170 for 7,500 dgb = 0.01275 btc. in this example, I can gets base balance which is 0.0125 btc + 0.00025 btc for profit. I still have 2,500 dgb and I keep this for another increasing.

2. I think if we parking our money in usdt/tether is good too because we can buy btc or altcoin in the same time. for example :

we sell 0.01 btc at $3500 = 34.91250000 usdt. and if the price is suddenly down in $3250 and we buy at $3250 with 34.91250000 usdt so we can have 0.01071545 btc. we can get more btc which is 0.00071545 btc.

I hope you can learn from this. I always take profit first to get my base purchase again plus i am taking little profit from the selling.

That is what everyone is thinking, you could invest in several cryptos and make money that way but no one wants to make small earnings we all want to get big earnings and see if we are able to hit the jackpot and buy one of those coins that skyrocket, that is a long shot but one that many people are looking for because your life can change almost immediately if you select the right coin.

There is no exit, only lambos.

Sometimes I use bitcoin to buy altcoins just so I can get more bitcoin when they pump.

Hate to say it, but I don't think BTC will ever reach the acceptance you seek. Some other coin maybe. BTC has too high fees and is too slow.
POS would be better for this. Verge maybe?Stellar?Ripple?

Personally I am not vested in many coins. I invest in coins that I think have future value. So before I invest, I look at its possible potential long term. My longterm is 5years minimum. I don't plan to exit until I have made the money I want to make. I have been considering to invest in coins just for their potential to profit, in that case my exit strategy will need to be devised.. I guess my answer is, I don't have one :-)

Have you ever had a coins that is being dumped because its already being dump? 5 years is too long for a long term to me, i'll consider 5 years if this is bitcoin but for altcoins it should not be that long. My minimum for a long term investment is 6 months and that's all either if the price is rising i will immediately sell it. If you want to make an exit strategy, you must first set a limits to every coins you have had invested.

I think that bitcoin is not expensive yet and it is not very reasonable now to wait for a serious fall. Although perhaps I'm wrong.

Well for me Exit's strategy is clear:

Wait for 10 years trying as much as possible to get the most Bitcoin and Ether, as well as two three small alts that I like a lot.
The evolution of the volume is colossal, and is not finished, why deprive itself? : D

It would be best if you will try your exit strategy little by little in every success trades that you made.  It can be done by saving part of the profit while rolling the remaining to trade again.  You will be surprised that you already accumulated your investment and yet you still trading a huge chunk of coins.  Once you got your capital, it is up to you if you want to continue gaining profit or fully exit by selling them in a strategic way to maximize your profit.

I personally don't plan on exiting before at least a couple years. Crypto is only beginning and it's got much brighter days coming imo

sometimes that investor to work as appealing also the returns from different manage as occupying the use of several customs of strategics as displacing unit of allocation to goes as best within the terms to calls of one with the finest on returns with the value of the exhibition.
that the one should failed of times to times as resigning with the new ones as following excess to work on redemption as recovering plan.

I'm hodling forever. I'll take out loans out to pay off bills and make major purchases using crypto as collateral (see SALT / Meridian / etc..), but not ever planning to sell 8) 8) 8) 8)

I mined bitcoin then litecoin early on. So a huge stake of my coins were not bought, in saying that my exit strategy is a slow one. Every time a coin doubles in value I sell 10% of may bag. Ive been doing that since btc was a few hundred $ and litecoin was $5.

Regarding the alts Ive bought, I sell 50% when my the price doubles and hodl the remainder for years there after.

cheers
groko

I don't really have any exit strategy. I've been mainly focused on strategies to accumulate more BTC and other good coins ;D

Not necessarily an exit strat, but there are stable coins, like SBD (steem dollars) that are pegged currencies.  This is a good way to lock in gains, if you assume there will be a correction. Stable coins have been talked about for many years, but still not many options. I'm really excited for more stable coins in the future. 

That is only true for gambling since you know that is an activity that is not going to give you profits, no one in the history of investment has invested money thinking they are going to lose, they all think they have made their due diligence and are sure the crypto they choose to invest their money is going to be a winner, besides investing only what you can afford to lose is not going to be enough if you have plans like having a comfortable retirement.

My exit strategy is that I don't have an exit strategy.  I'm waiting for mass adoption of crypto and then I'll just spend it as I would my fiat!  Just kidding, I'm bullish on crypto but im very risk adverse.  Accordingly, Im not all in on crypto, it's maybe 3% of my assets.  If it ever gets to 25% I will rebalance my portfolio by selling some and buying some mutual funds.

actually i am not calling this exit strategy because once i selling my coins, i am not selling all amount but i am only selling half or quarter to gets my base money back and take a little profit. i keep the rest of the coins for another highest increase and i can wait for a long time. its good to trade like this because we still have the coins in our wallet while we can do daily trade if in that day we can make profit too.

I've kept my assets 100% crypto for the most part.  I have been wary of linking bank accounts and paypal to anything I do that is Crypto-related.  To that end I have just switched back and forth from CoinX to BTC when needed.  This is changing though because staking coins are going to be a large part of the future of Crypto and I am accumulating good staking coins and at some point  I will redirect the stakes into BTC or some other coin. 

Initiating a trade without a clear exit strategy is a recipe for disaster. Determine beforehand the price at which you’ll cut your losses if the market moves contrary to expectations. This level is known as a stop-loss and it’s critical to market survival. Limit your losses below 25% of your position size. A stop-loss is wisely placed on the other side of a level at which price has reversed previously, the more times the better.

The converse of a stop loss is the profit target; the level(s) at which profit is taken when price behaves as expected. Profit targets are best-placed slightly before previously significant levels. If price exceeds your expectations by penetrating significant previous levels and maintaining a strong trend thereafter, consider substituting your target(s) for a trailing stop ; this acts as a ratchet on your profits.

My Exit Strategy is some different within a all of the person but some of the most person is use it . When my Bitcoin target is fillap then i sold some bitcoin if i lose i don't sold my btc . I sold my all bitcoin via local btc. Local btc is one of the best selling and buying site of btc.

I'd sell mine as soon as it's half is equivalent to a good house. The problem is to define what "good house" is :)

Maybe take out 15 or 20% out from the portfoilio everytime you reach an assigned mark. I take out 2000USD everytime I make 10,000 USD. Time is not of essence for this. By 2020 I might take out 50% of whatever I will have from crypto.

Well i don't entirely "exit" all my coins since i've known to keep some in exchanges. Well btc that is. Usually i wait for profit to go to 5-10% and then i observe. That 5-10% profit would be a gauge ifbi'm going to sell some or not

This is precisely why the devs have been pushing an end to the scaling debate and were convinced that their solution to the scaling issue is the best, we still have not seen the end of it but once the lightning network activates we are going to see the fees to go down and bitcoin will be able to manage millions of transactions, once bitcoin can do that it is game over and no other crypto will be able to replace bitcoin.

Just have to set some stages to take some profit.  Set a percentage. for every 10% increase, sell 3% of your holdings.  If you keep it at a low percentage, you will always hold a significant chunk even if the price goes way up.

If you want to spend some more energy, you can do a little bit of long term trading this way. Split the takings into profit and then a "short/re-invest" pool.  When the price goes down put some of that money back into the same project  or if you find a new project you want to invest in, put it in that (but save it for an overall bear market).

this way your exit strategy is built in, automatic, you don't have to wonder if you are doing the right thing.

My strategy is simple I don’t withdraw bitcoin using exchanges unless I am having urgency of money otherwise I will invest in the coin following from the long time when it is dumped very badly . Because long time holding coin will give approximate chances of rise.

Correct, unless I was a early investor and had thousands of coins I will not be planning my exist strategy at this time, since I still do not have a lot of bitcoin I’m in my hoarder stage, where every single satoshi is being saved for the future, once I get enough I may spend a little but I’m only going to sell once I got enough bitcoin to change my life.

Thanks all.

I read many different sides and learned lots.  I appreciate the input.

Now, I hope I can put these to good (and actual) use. :D

With masternode coins, my strategy is to keep the collateral but sell the proceeds from the nodes when the price is at a reasonable point (but even if it's lower than before). 

That way I get BTC back for my original investment over time + plus I keep the masternode collateral over the long term because I believe the coins will go higher.

if you are not going to quit trading better cash out part by part with wgat you need to spend. here in the philippines the only way to cash out bitcoins is by using the official bitcoin wallet app which is called coins.ph
all of the alts should be converted to btc in order to transfer there and cashout with their official partners.
it is hard for me to belive that it is good to spend bitcoin because bitcoin itself can earn profits so better convert it if you want to buy something.