Bitcoin Forum

Lets say i want to sell btc today and reenter after months.

Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

I do not want to keep funds in my bank account.


need expert opinion.



exchange hack is more risker than usdc invalidating my coins or reserves problem?

Do you mean you will hold your BTC for six months? If yes, then stored it on a non-custodial wallet (https://bitcointalk.org/index.php?topic=5173370.0) instead then just idle it there as long as you want and just wake them up once you are now ready to sell it. Transfer it to the exchange of your choice then do the conversion there.

No need to split funds into several exchanges. Just choose the reputable one once you are now decided to sell all your BTC. Read TOS too as there will be lots of changes after 6 months later.

i want to sell btc today and re enter later after 6 months. where should i keep the money.

If you were a hodler of bitcoin and chose to sell for usdc or usd then consider being out of the market as those are stable coins which won't gain or lose value regardless of market reactions, in short both are okay.

This isn't easy to answer but if regulation is an issue from your country go with the crypto coin (usdc) but if not go with usd fiat just hope AML rules aren't strict, good luck.

You want to buy BTC back 6 months later, USDC or USD in my opinion is the same especially if the exchange you are using also provides USD, but if you are reluctant to save in a bank account it would be better to save USDC and only store it in a personal wallet not an exchange, because no one knows about the exchange in the next 6 months.

I agree with this opinion. Keeping your digital asset in USDB or even BUSD can be the best way to tide over and keep away from the usual fluctuations happening every second in the crypto market. With the intention to re-enter the market later, USDC can be serving right. Of course, there are some who are expressing concerns on USDC as not so transparent with things they have behind but in my opinion this is still so fine with me. Of course, there are other stablecoins one can use and all of them are serving the same purpose which is to inject stability to us especially to traders. In the meantime, one can use stablecoin to make more money by staking or farming just choose the right platform to lessen the risks involved.

It's way safer to store FIAT than any stable coin. But since you didn't want to withdraw to your bank, the only option is to store it on the exchanges which it is highly not recommended.

Another case, and maybe this is a preferable option for you is to buy any stablecoins that you want, then store it on your self custodial wallet. As long as you didn't do anything illegal, the chance of your address being frozen is unlikely.

You can use exchanges as place to take profit but if you consider exchanges as where you store you money, in Bitcoin, USDC or USD, long time, it is not good.

Exchanges can make scam exits.  They can be hacked and announce bankruptcy. They can be shut down by governments. All of these, you can not control. On centralized exchanges, you don't have private keys of your coins so if they shut down, you lose your coins.

6 months is quite long, if it's possible i'd rather hold fiat. since you don't think that's possible, maybe avoid usdt and use usdc to store your money. there's a ton of shady reports about usdt in the past, who knows what will happen in the next 6 months. don't trust usdc too much though.

So that means you won't withdraw your flat and don't want hold any coins. well this depends on your own opinion. Which stablecoin do you think is safe for long term storage? if I still prefer to withdraw with a flat only. you  if i planned will not hold any coins. why keep money in exchange for that long ? and usually im using usdt as my stablecoin but i never hold stablecoin for 6 month.

You can sell your BTC pair USDT, USDC, USD in any exchange you want or custodial wallet. But as we know that saving in the exchanges will not be 100% safe, we need to think of other places to keep our funds safe. Maybe you can consider buying Ledger or Trezor wallet and moving your funds to one of those wallets or you can use both Ledger and Trezor simultaneously. You can keep your BTC in that wallet or sell it using the feature on that wallet so you can get USDT, USD or USDC save on that wallet.

I can suggest you sell some portion of the BTC you have and leave the other part in BTC and wait for the next 6 months so you can sell it directly when the price reach more than $100,000 or in your target price.

If you're on a tight budget and can't afford to buy hardware wallet, you can just sell your BTC to USDT and send it to a non-custodial wallet like Metamask (https://metamask.io/) instead of storing it on an exchange. I prefer using BEP20(BSC) network to reduce the transaction fee.

Beware, Most Stablecoins Can Be Frozen, Even in Your Own Wallets  (https://bitcointalk.org/index.php?topic=5204055)

If you sell BTC keep your USDC in blockfi or crypto dot com and earn interest.

I might suggest you keep it in USDT or BUSD. however, if you choose FTX as the exchange where you keep your money, it might be better to choose USDT/USD.
Well, keeping assets on the exchange for that long seems quite risky, especially if you don't get any information about it. The advice and recommendations I can give for now, if you want to hold your assets for a long time in the crypto world, you should choose Binance as a place of storage. otherwise, do KYC, and choose BUSD. binance is very responsible with the assets of their users. they have been hacked, and are responsible for it. Other than that, for a 6 month period, I think it's very safe at Binance.

You can either exchange to a stablecoin, such as BUSD, USDC or similar, and then store your coins in a wallet. Otherwise, I think you'll be safe even if you store your money as USD in any reputable exchange, such as Binance, Kraken or Bitstamp.

I had 600 Euros stored on Bitstamp for over 2 years, without any activity for that time period, and faced no issues at all.

You can sell your Bitcoin for USDT or any other stable coin that you desire but storing it on any exchange can be risky as exchanges are prime targets for hackers ansld malicious attacks. However, some exchanges have proven with the track record of very high security and Binance is one of them. But i strongly recommend that you store your cryptos in a personal wallet where you on the private keys and you are at very little risk of getting hacked

Sell it for DAI.

It is a decentralized stable coin.

If you're wanting to reenter soon, that's the best choice in the stable coin that you want to hold then.

About USDT, it can freeze funds although they're only doing that for stolen funds and other bad stuff that they may apply. But the fact that they can do that makes us think that they can also do that with normal accounts.

My question is, is there a market in your country that has a BTC Pair with your country's currency? if there is then you will be safe to keep assets on the exchange as long as you know the exchange and to exchange it for USD is also quite safe as long as you keep it on exchanges with large volumes and markets such as Kraken, Binance and FTX with little risk of hacking.

Why not stay in bitcoin and just hold for long term, it's just like you put your money in a bank but with bitcoin you have a chance to earn huge profit after holding it for long term. But of course it is still risky but if you believe and trust in bitcoin, nothing to worry about. If you really want to just put your money in your wallet then, try to exchange your bitcoin into other stable coins and just store in your offline wallet and not on exchange just for safety of your funds.

I'm not an expert with this but maybe I could help.

If you only have a small fund, I think you don't need to split it into more than one exchange. I know you are right that exchanges are also prone to hacking and so your account but choosing a good exchange with a high-security system is actually what you needed.

Actually, I held my fund to an exchange Binance USDT for several months but lately, I withdraw it for personal needs. But with that several months stayed in there, I haven't experience hacking, maybe it was because I dare to check my account frequently to see if there is unauthorized transactions or it was because I've done with the 2FA validation.

You are doing it, wrong dude. You say you want to sell BTC today, and make USDT next time?

Just take a look, for EXAMPLE you have BTC today and its worth $1000 today. So you sell, so you have $1000, now BTC goes up to $200k, then you have to buy a higher amount of BTC. 

Heres a better option, let Bitcoin grow from $50k to $200, then sell Bitcoin and make it USDT. Let Bitcoin goes down until it reached $20k. But it will take a year to happen. Now that Bitcoin is only $20k, buy BTC again. You should have a huge profit when it goes up again.

I still don't understand why selling bitcoins now. Despite the fact that bitcoin has partially recovered in price to $ 50,000, in the fall it should still rise in value decently and in six months should have a price much higher than it is now. However, each has its own trading strategy and its own vision of the market prospects. Of course, if it is supposed to invest in cryptocurrency again after a certain time, then it is best to keep them in stablecoins in your wallets. I do this in USDT, but if anyone has doubts about the reliability of this stablecoin, there are many other stablecoins and here, I think there is a large selection.

yes you can store in USDT, USDC or any stable coin in any of your personal wallet, but i don't think so that you can buy it again because its out of your buying range after you sell.
As per my advise hold Bitcoin grow from $50k to $100, then sell Bitcoin and make it USDT. Just Hold it.

He probably wants to maintain the fiat value of his holdings rather than in Bitcoin. Maybe he will be off trading for that's he is making play safe strategy by converting his on a stable coin. He can always buy back Bitcoin with same fiat value, He just miss the possible gain but still he holds the original fiat amount so there's nothing be discourage on doing that. There's no guarantee that Bitcoin price will continue to increase over a month so playing safe is the best strategy rather than risking it for a gain that you didn't plan.

In my opinion, one of these stablecoins USDC/USDT is the right choice because it is a crypto asset that tends to be stable in value. This is because its value is tied directly to fiat currencies, such as the US dollar. Not surprisingly, these crypto assets are often used as an alternative means of investing or saving money on the exchange to prevent losses when trading.

USD is a stable coin. Its price will not increase. Its value is 1$ and will remain the same for a lifetime. If you want to see when Bitcoin has pumped a lot and you have made enough profit then you Then you can sell bitcoins and keep USD. Then with USD you can be completely safe, your throat will never be reduced, it will remain in that particular dollar.

Still want to sell your BTC today? Or is it still in the same condition as before? Look at the strong holder laughing to see you want to exchange it for USDT/USDC. If you still think when value stability lies in coin stability, then how sad to see Bitcoin price growth in these beautiful days.
Let's take the victory that in fact, lies with the long-term holders.

You have two options. First one is to convert your coins to a stable coin like USDT or DAI. Second one is to convert it to fiat. You can also store it in USD in exchange., but that would be really risky. You can never be sure how much secure your funds will be there. Within few months, rules may change, you may lose access to your account or the exchange might get hacked and no longer available. So, yeah. Don't store anything in an exchange if you are going to leave for months. The issue with stable coins is that they can be confiscated/frozen. Google it and you will know more about it. I would rather suggest you to convert all your coins to bitcoin and leave it like it is. Or just convert it to fiat.

You wanna sell now and re-enter after a few months, are you sure you will see bitcbelow your sell point, cause its not sure that you will see bitcoin at a lower price, it might be x2 of the price you sold it for instead of selling its much better to just hold, but if you still wanna go ahead with the selling plan just change your btc to a stablecoin like usdt or usdc and save it in your private wallet, since exchanges are unsafe for storing coins.

I think it is better to exchange bitcoin to USDC, so as to have stable coins until you want to buy some more currencies. But actually it’s up to your strategy and general situation in your country.  I mean if the government takes taxes for crypto trading, and if it is easy or difficult to exchange your crypto into fiat. And also if you are going to wait for a new dip to buy more crypto.