Bitcoin Forum

Hi,

I started with Crypto Last Year in September so before the big run up where everything was green every day. That’s when you think you are so good in trading Cryptos😉

Everybody knows what happened … the little dip  :o and of course I didn't take any profits before the dip, so it was also hard to buy the dip afterwards.

My Question is now when I take profits to stake up for the next dip, into what should I convert it?
Do you convert into FIAT and in the Dip you put it back to Crypto or do you convert to a Top 3 Crypto?
Do use Tether as it should be stable?

Let me know your way  8)

Everyone decides what to do.
A person can invest money in absolutely any coin, which you might not like.
He can wait a year, two, ten .... and blindly follow someone's advice, very stupid.

If you profit in alts and you don't want to risk anymore that you profited then go change it to USD but if you want to still risk just put it to BTC so it can go up or down.

I look in to all cryptocurrency price now almost going up and down at the same time so to keep the profit and avoid other risk just keep that your profit in to USDT, this is more safe when any bad news related cryptocurrency because all crypto will drop at the same times.

I keep my profit in BTC because it's way better for me in terms of taxes.
Capital gains tax isn't applied when you don't convert your BTC into fiat, at least it's not in my country. (US is different)

I also think that Bitcoin is a pretty good long term investment, even these crashes don't really scare me. I've seen it all before.
 

My thougts are in NEO because it generates GAS so you have the additional income which compensates the losses in a Dip at least a little bit.

its our prerogative on what to do,either to extend my investment by putting the profit to another coins or to convert into fiat,but mei convert every earning into fiats so if dip happens i can buy another bitcoin so my bitcoin continuously increasing without adding my own money into crypto again

To make the expected profit, we need to be in game always. If you don't give up trading, you will definitely make profit one day. Try to trade in top coins and you can go for some good ICO projects also.

USDT is safe till Tether implodes, which inevitably is going to happen at some point in the future. It's basically you exposing yourself to two major risks. Firstly, that your funds are on-exchange exposing yourself to hacks and insider theft, and secondly, you depend on Tether to keep functioning. Tether trading is like Russian roulette, which is completely unnessary, and can be easily avoided. But then again, who's going to listen to that? People keep doing what they want till it's too late to do something about it. ::)

If you want to take profit to hold for when another dip comes, you should find coins that are either very resistant to the overall market-cap. By this, I mean coins that, when the market falls 50% 'only' falls 25%. You can look at the graph history from this dip and see if there are any particular coins with a better resistance. And then check whether this was true in other dips as well.

Otherwise, there are really only fiat and USDT to move into, if you want to take profits that is meant to be used for buying crypto at a point in time, where you believe the prices are lower than the moment where you sell.

for me if im doing short trading if i already gain 20 to 30% profit i already take profit for that gain and buy another coin for the longterm coins thats i manage my porfolio you always rebalance your porfolio so could manage na fund that you have.

You can do anything with your asset and change your strategy anytime you like. Take profit ( convert ) need to be done to safe and grow up your asset and the time is as your wish. I'm not prefer with tether and fiat, just for btc, eth and ltc only. From your post I can see you're fit for long term period trader/ invest because you can wait until big dipper.

I usually turn my profit into the main cryptocurrencies as you said (mostly BTC and ETH). They will rise with the market progress and give you profit, and also make further investments easy (specially ETH).

Whenever I tried to go to USD for any reason I only lost money...  :(

Actually if I am already earn enough profit or more I usually turn this into fiat where I can see my hard works in things since I buy some usefull things for me to see what I did.

It will be better if you convert it into coin or token which will give you pasive income rather than only convert it into fiat and get nothing. I will give you a simple example, look in this calculator https://dimensions.network/en/calculator this is what people like you or investors get if you buy this token, actually it still an ICO untill 24 february.

it really depends on you and your plans and what you believe in.

what "I" believe in is bitcoin. so obviously i keep the profit in bitcoin. for example when price drops i buy more bitcoin and any profit that i ever make from any trades will be stored in bitcoin.
my plan is that i want to have a very large amount of bitcoin in the near future (a couple of years)

never store in Tether. you can use it for a very short time or use it to transfer fiat between exchanges if possible but NEVER use it for long time because it is a very risky and shady coin.

I hate tether!
Anyway, if you had profits you have been just lucky, not skilled. In my opinion the best think to do is to pick a strategy and go with it, no matter what... If you are too susceptible to temporary drops and rises, maybe this business is not for you...

I think it depend on you're situation if you feel that is not enough profits.then if you want to exchange it to fiat,go for it but make sure on what you doing.bitcoin currency is unstable value.sometimes dump and pump.too risky to make trades so don't be aggressive on it.just be patient. That's my little advice to you pal.

In most of the countries if you are converting your Bitcoin/crypto to fiat currency then you are entitled to pay taxes as you gain income from capital gains so if you have any intentions to reinvest your profit then it is recommended to convert profit into the most stable altcoins. Stability is a rare case when it comes to crypto but I don't see any other viable option other than this one.

I usually sell my cryptocurrencies profits then buy my local Fiat which I hold waiting for dips.if one ever happens then I can buy bitcoins and then buy the altcoins I need.

It’s depend on what is your final target, if your target is to maximize your fiat then take profit into fiat, if your target is to maximize btc (or eth) then take profit into btc (eth).

For now holding is the best way one can actually keep his or her bitcoin! I tried to play the options of buying bitcoin and when it dip convert it to USD and when bitcoin started appreciating again convert it to bitcoin but I find out that I will make more holding a coin for a very long time. Most times one  do miss the best opportunities to get in again after the dip.

at the end of the day we all go back to fiat because we all use fiat in our lives even if we prefer using bitcoin so our profit is also going to fiat. but considering the fact that bitcoin is an excellent long term investment with a good future ahead of it, you can see the potential of profit if you own more of it in the future when the price is a lot higher than this.

in other words if you store your profit in bitcoin now your profit will increase with bitcoin price rise.
but this is still risky as bitcoin price is still risky despite me believing in its future. so a better strategy would be taking some out to fiat and storing some in bitcoin.

i think its conditional, for me, im not always convert it into top 3 crypto or vice versa
sometimes when i need some money, the profit i convert it to FIAT and make some to buy at the dip and cashout some of those FIAT

Putting in BTC is not even a huge risk as much as leaving in Alts. However, it all depends on what is good enough for the trader in question but I would not advise changing anything if the person trading does not have any trading knowledge or what to look out for while trading, because in that case, it would be hard for someone like the OP to even have an entry or an exit strategy, let alone make profit trying to swap.

It will depend on your needs. If you really need the money then convert it to fiat. If not you can just convert it to btc or your prefered coin.

What i am doing  personally is right now i just convert a little to fiat and majority to btc because i believe that the btc price will still rise giving me more profit.

It's good thing that you get the crypto in low price. Gone are the days where the BTC price was under 300 USD.  Let assume that you profited around 5000% of your initial investment, the thing I would do are:

     1. 50% of gain would be retain in my original portfolio
     2. 30% would go to re-investment  (ETH, Ripple, and Litecoin)
     3. 10% Portion of my gain would be given to charitable institution
     4. 10% for vacation! I like to spend some for recreational activities for me to taste the fruit of hard work.

The market is speculative, can sharply grow and fall. Intraday fluctuations of the Crypto-currency may be 25%. You need to have iron nerves to withstand the jumps, because you can lose everything. At the same time, how much will bitcoin cost in 2018, it is not known, because all bold predictions have already come true.

Best way to take profit in USD , BTC, ETH. This will increase BTC & ETH fund. Problem is markets can up & down so for this USD also good option to take profit.

Well said, with perfect timing you will be able to play around and gain a lot, taking profits in a day trade is nice but doing it in the long term will be much better,  a lots of matured traders realized the big benefits of holding and wait for the a much bigger value, alts and bitcoin will bring huge earnings if we
know how to find the advantages.

the biggest way to earn profit is that you must believe in your coins if you have researched carefully. The market always fluctuates and depends on the information very much. If you are not patient, you are easy to lose money

I recommend fiat , I don't trust tether . as for predicting a dip its hard to tell when its actually gonna happen so good luck with that .

It depends on your own pattern of trading. Most times, all the coins or tokens can be converted to btc and then you can hold your btc strong and buy back the dips of the altcoins for profit, so as to increase the holding of your bitcoin in the long run.

Also, you can decide to turn your btc into fiat, and then buy back lower, but that is in the case that you are sure bitcoin is turning down, and you do not end up being a victim of a bear trap.

I am not very good at selling on the high and purchasing in the dip. What I do generally s take out what I will need for my living expenses then I will just kind of hold long term the best cons that I feel have good promise to make those x 10 or x 20 gains at least over a longer period of time. I sometimes miss those all time highs though and that is very frustrating for me as in this last bull run I could have semi retired myself and my wife but unfortunately we missed it and the market just plummeted to all time lows which was a disaster for us.

I usually convert it to fiat, because I need the stable currency, if I convert it to other crypto, it has the possibility of losing value, tether is also not bad because it is quite stable, but it will take time to convert to tether, it is more simple to just convert to fiat and it can be used directly to buy other coin whenever I have the chance

Try to find out what will be the answer after making some self analysis. Yes, turned that set of question of yours into plan and see if that will work.

Different people have different way so better make it to the point that try those hypothesis. On the way, there are might some failed analysis that can happened so in here you need to find out what is the better thing to do. After learning "that thing" and the result was good then considered that as your winning strategy then just do mofication a bit on your future trades.

Way lot better! My target anyway is to always increase my BTC, so if I make profit in any alts, I end up using it to increase the quantity of btc I am holding, as what is the point holding the alt anyway, when it would go back down correcting.

At the long run, we are all here in this system for bitcoin and trying to stay away from fiat, so why will I bother converting into fiat. All the way to make bitcoin stronger.

This is a great idea you've shared, yes we had a different way to make a better and that thing we must improve.
Those failure that we don't wanted it happen again in trading, i must also prefer into fiat than to tether i most comfortable in using fiat when i purchase back in crypto currency that i want. But as of now i'm still holding all my crypto's in my portfolio i never convert on it into fiat due to low value of bitcoin these few months.

I think we take advantage can be by bounty or trading ,, as a beginner I choose bounty signature, because bounty signature does not take a big risk, do not recognize the loss and in the signature we do not require capital but have a fairly large profit even though not for trading .

I think so too, I am not good at selling coins let alone being a reliable trader, yesterday I also feel a high rise and I hold my coins, and the result is now the market price actually dropped dramatically and the losses I get.

It is better to take profit into bitcoin. Fiat is not your best option I mean that's what everyone is trying to move out from, why trying to get back into it again.  I hold and spend in bitcoin  and if by any chance that you make good profit in your trading,  you should save your profit in bitcoin.

lol. Most times, people are looking to trade their coins, without the slightest knowledge of trading and at the end of the day, they find out they would have been better off holding. It is always better to leave trading to those who know how to do it best and then just hold the coins. However, if the trend of an altcoin is turning downwards, that can be a good time to sell and buy back into btc.

I think the dip is already over now the price is getting bumps so it is better to hold your coins until you make enough profit then decide whether to sell it or not.But it shold be based on what coins you are holding if that coin is a potential coin you can wait for that to recover or you can trade them for the potential coin like ethereum or litecoin then wait untill it will give profits,so patience is very important if you want to make profit.

Starting at now, your benefit will be in fiat as that is the standard medium, channel or instrument to your buys in your day by day lives. A few wallets offer bill installments which you can pay in BTC to pay your liabilities, so in that viewpoint you should not have to transform it into fiat money. Despite the fact that these administrations are offered in a few wallets, you can't depend on it much as regardless you're restricted on what you can do to your crypto coin. Hold up until the point when nation completely embraces its adaptable use in our day by day lives.

He is talking about shortage, selling at top for fiat, and after drop to buy again same coin he sold earlier at top for much less money. Top was at 19000 dollars, dip was at 6000 dollars and now we are in the middle again, where the price will go from here is hard to tell, everyone has some opinion but reality is that bitcoin price can surprise us easily.
Tether is always 1 dollar, controlled by exchanges. They now have eurotether on ethereum platform, I don't use them personally. I think that earning from fluctuations is not for all the people, I catch this spikes sometimes but many times I miss them or sell to early, buy to early, that's why when I trade I don't do it with all my money. Be smart, buy when price is going down, if price continue to drop more you need to have money for buying more bitcoins and to wait rise. On each big rise sell something, not all maybe price can go up more and profit will be higher, have some bitcoins to sell at that time.

Starting at currently, your profit are going to be in enactment as that's the quality medium, channel or instrument to your buys in your day by day lives. a couple of wallets supply bill installments that you'll pay in BTC to pay your liabilities, thus in this viewpoint you must not got to rework it into paper currency. Despite the very fact that these administrations ar offered in an exceedingly few wallets, you cannot rely upon it very much like regardless you are restricted on what you'll do to your crypto coin. foot-dragging till the purpose once nation utterly embraces its convertible use in our day by day lives.

I don't trust Tether, so I just change BTC to dollars on gdax and vice versa. I too wish I had done it before the dip...

Despite the fact that most people believe that not converting your profits before the dip as a loss, I'll still urge you to continue to leave your profits in BTC.
Saving up your profits as BTC saves you from paying taxes as only fiat currencies can be taxed by the government.
Secondly, you can see your profits as an investment and a long term investment at that. As you already know that dips like this are only temporary and do not last forever which means leaving your profits in BTC will eventually yield more profits when the price of bitcoin soar back high

There should be a technique for you to get a high profits. We should learn how this techniques can help us in taking profits. Traders and other bitcoin users have their own techniques to ensure that they can have a big profit. Using altcoins and waiting for bigger value of their altcoin is the best technique for them to get their own big profits. We must learn for our own success and profits

I usually sell my cryptocurrencies profits then buy my local Fiat which I hold waiting for dips.if one ever happens then I can buy bitcoins and then buy the altcoins I need. If you can, you should hodl to die  ;D ;D

It is always better to convert our profits from crypto into bitcoin because bitcoin price will increases in long term so you can get extra profits from just holding it,or if you want that money to be used immediately then better convert into cash.

Yes i learned that lesson. I used to trade but found out that I really
didnt make any gains and would have been better off doing nothing.

I have taken "profits" before but just liquidated them to fiat which is
fine if the fiat is not being used to trade back into crypto if the markets
have increased in value.

Long term its better to hold the profits.

I convert into USDT. Another option would be to convert into FIAT but this would take like a day or two for me to receive the money.

Mehn… you were so unlucky. Eehm… why don’t you just leave your money in the Bitcoin Wallet and wait for price to run up? But if you still wantto take them out there is still no problem.

You can just withdraw your money and wait patiently for another run up… once it starts going up you can invest it back and make profit. I won’t really advise you to invest in any other cryptocurrency, or maybe you can withdraw to Tether… but mostly I will advise you to withdraw to fiat.

I think in such times when the whole crypto market is down and seeing a correction its much better if you sell everything into fiat because its much more stable and will save you from any further dips in your portfolio. However if you think only bitcoin is going to fall than obviously its better to go with any other crypto as you get dual advantage which is you will be saved from the dip and might also get some return if that crypto rises.

this can't happen! a 9 year history of bitcoin and altcoins has proven that it can never happen because bitcoin will never fall alone. each time there is a bitcoin drop, there is also a much bigger altcoin drop.

of course there are always small altcoins that are getting pumped no matter what is going on in the market but they are exceptions and hard to find during dumps.

You can invest in some perspective project. I think, that one of them is TraceTo. Cause it is a decentralized KYC network, which can used by companies to verify his clients. There is a think, what KYC standatrs will become tougher, so it will increase the demand for software, which can identify. So, investors can get profit from this. Another reason to invest here is a good team, which has some experience in developing.

I pick a coin and just keep it on my wallet. Although, I trade currency pairs. But on cryptocurrencies I decided to change strategy and try "hold strategy".

There os Tethere now. An escape route fod every trader
 I dont know if we are lucky to have that or it will be the chaos of most crypto investors.

Could not see anymore if coins and tokens will go down or up. Why? It is like everything now is with the same boat as BTC and ETH. Once they are down then everything will be. But look at Tether. No movement at all.

The advantage that I achieve if it is satisfied will I withdraw my funds. Make it into USD because I do not want to speculate better if it's profitable

usually first I take profit in bitcoin then I sold bitcoin & take profit in my country currency.. you can take profit in top 3 currency.. it will be wise decision.. you've low chance to lose in these 3 cryptos

There are two logical things you can do with this kind of situation the first one is convert it to another coins to your choice of preference. During the dip every coins is on sale because of its low price.  But you have to be careful because we really don’t know which one is the bottom. The second one is to convert your profit to other kind of investment. This is to diversify your investment to free you from greater risk. Both strategy has pros and cons you have to weight it down to make the decision correct.

perhaps for someone wanting to get out of tax can be saved with Bitcoin.

but back to themselves if they are entitled to anything done with Bitcoin, including in terms of investment.

if I use Bitcoin to make a living every day me, because I trade Bitcoin every day in Binance.

You should take your profits in all companies that you have invested once you already met the highest market value which is very favorable to you so that you can incurred huge profit .