Bitcoin Forum

 
   Hi all - I'm new here!
 
Is there a way to not convert to fiat and still lock in some profits from BTC?

Is there an altcoin that either moves inversely to BTC o,r even better, is linked to some other asset, like gold or real estate- something else?

Is there a true gold backed coin/asset that is legit? or a legitimate  USD or other more stable asset? I had read that Tether has issues.

Thanks all!

No, there isn't.

First, by principle you can't "lock in some profits" and not convert your BTC holdings out of BTC. That's like saying you can't be hot and cold at the same time.

You can hedge your BTC investment by investing in other cryptocoins, or...leaving some of your savings in Fiat since we all know that fiat is extremely stable in the near term (obviously over 20 years you'll lose spending power, but that's a different story). There isn't any crypto currency that's been known to have an inverse correlation to Bitcoin, meaning when Bitcoin goes down some coin always goes up. This market hasn't been around long enough to establish those relationships yet.

While a great idea, doesn't seem possible at the moment. I've heard of people buying real estate or cars with btc, but not sure if that is actually locking in profit.

Yeah, but risky way. You convert in to FIAT but don't move it outside exchange. So for tax reasons and others you dont have profit yet.
Only flaw in this strategy is that you keep big amount of FIAT/BTC on exchange and it can be hacked/went bankrupt  and you will loose it all.