Please share your EXIT strategy...

[Poink]

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?

[1714965307]

1714965307

[caravel]

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.

__________
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.

[soothaa]

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!

[lentzaj]

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 !

[brokedummy]

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

[ahmedjamal1998]

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

[Qiuyue201]

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?

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.

[jtipt]

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!

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.

[Omega Weapon]

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?

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.

[tokeweed]

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?

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.

[VackFromOhm]

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!

[lentzaj]

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?

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.

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 !

[guclu]

My exit strategy is always to exit to BTC
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.

[kryptqnick]

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?

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.

[tyuner4]

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).

[saga-crypto]

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.

[AUruHM]

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).

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.

[bananadines]

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

[Voice-Of-Reason]

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 )

[talkbitcoin]

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.