I've made 600k in Crypto - When to call it quits

[BlockTechnology]

I would withdraw some money (about 200k), the rest of the money in the crypto currency would be invested in the following alcoins:
1) Ripple
2) Stellar
3) Monero
4) Litecoin
5) Cardano
6) TRX
7) Z-cash
8 ) Verge
9) Nem
10) Iota
11) Dash

[1714467632]

1714467632

[1714467632]

1714467632

[bitcoinfrings]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

good one

[madwica]

Why you are think for quiting in crypto if this thing will helps you to make your life much better or you do not like what youve received in investing on digital currency. Also i am thinking if you are one of the person who are in crypto for couple of year i am sure you are already here in the forum for more couple of years also because based on your statement you have lots of knowledge about crypto and i am sure that this forum has much more information to collect about our new generation currency.

[bering]

i wonder why in your portfolio bitcoin only have 1.5% from your total asset because admitted or not bitcoin could be provide good profit since the price was jumping last year and i think you have to increase the percentages asset for bitcoin because i'm pretty sure holding bitcoin even for long term will get very much benefit but Raiblocks also good as this coin was jumping rapidly and i personally didn't expect this coin will reach at the current price

[shashko]

If i were you i would sell some and the others play crypto. In this way youll have money for making more money and money for usage.

[zikabra]

Why don't you sell half of it?
So you won't regret if price crash.

Just remember one thing - it become money only after you cash out 

[BTC-BTC-BTC]

You can see it from the profolio. 600kcrypto is in for the short term. Top two holding which it's 83% of the portfolio are new project from 2017 and a risk taker for sure will to lose it all. Good for him that he made it. Sell it and enjoy the profit.

[farcro]

I would withdraw 300.000$ and the other 300.000$ it would be 30% NEO, 30% QSP, 40% BTC

[exstasie]

Also - your friends are financial idiots - I can tell that by what you said about them. If they are telling you to buy a house, a car and "live a nice lifestyle" - they don't have money and don't know how much capital it really takes to "live a nice lifestyle." You can't do that on your returns safely until you hit low 8 figures (which you can at your age with your nest egg) net worth.

A "nice lifestyle" is relative. I don't think an 8-figure net worth is necessary to live well. I also don't think a house and car are bad purchases. A house is a solid investment, and even in a housing crash, your house's value is far less likely to evaporate like altcoin gains. Altcoin gains can disappear overnight, so putting money into "real" assets is a smart move for someone whose portfolio is 100% crypto.

Do not buy a house - buy a multiunit building - live in one unit, rent the rest. Thereby you both get a great cash producing investment and you also eliminate your housing expense completely - accelerating the race to more wealth.

You can't eliminate your housing expense completely: property taxes. And property taxes tend to be significantly higher on multi-family buildings than single-family. Also, being a landlord can be a real headache. You have to deal with evicting non-paying tenants, landlord-tenant lawsuits, you have to regularly find occupants (or pay realty agents to do so), you need to do building repairs and deal with city/county/state housing codes. A single oversight in purchasing a large building (regarding, say, seismic retrofitting or similar renovation) can set your ROI back years.

Wow thanks for all your help guys. looks like I have some responding to do!

As for my plan, I am taking out 30k, my intial investment was 10k in 2014, so I am 3x up no matter what happens now. I am going to buy a nice car and have a nice holiday this summer with my money.

Glad to hear that you are covering your initial investment and keeping some cash in the bank. Don't get too lavish with the car and holidays; those expenses can add up very quickly.

[Grayy]

This is definitely not the right time  to quit. More People are getting used to the crypto experience. I bet you may not make as much as 600K in the same time frame in the corporate world, unless you have a one-in-a-million idea to sell to the world.

[akamit]

Wow thanks for all your help guys. looks like I have some responding to do!

As for my plan, I am taking out 30k, my intial investment was 10k in 2014, so I am 3x up no matter what happens now. I am going to buy a nice car and have a nice holiday this summer with my money.
I will diversify my portfolio with a few top 10 coins, IOTA and Cardano look good to me. I think Bitcoin and the Alts will ebb and flow a lot this year, so plan on moving most of my funds back into Bitcoin when I see a bullrun commence (I think this will be around mid 2018 when other big banks start offering investments into BTC) once the bullrun has ended, I will flip back into Altcoins and hopefully make a tidy return. I will keep you all posted on how it turns out for me 

First of all I would like to congratulate you for your great achievement.

I hope you have taken the right decision to take out only 30k from 600k after evaluating all the aspects.

If you take out 500k and keep 100k for crypto investment, I think its enough for you to make another 1m within this year or by 2019.

My best wishes for you - keep it up. And this time spread your money into more coins for more safe investments..

[alihassan99]

i think you should withdraw some money and  buy some car or whatever you want to do. but dont withdraw all the money from the crypto currencies as i think 2018 will be an amazing year for the crypto world. i myself withdrew some money to make my living standard good as everyone want his living standard upgraded

[Svafnir74]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

I think this year is Ripple's year.

[eloymjb]

 in my own will, as long as i earn profit is just a time to go in the flow of crypto. dont quit as long as you earn. just quit when you lost all.

[Cobalt9317]

600k in Cryptocurrency

Well this become an intriguing topic for everyone, it seems that the best advice that you have is from chemvidswoot.

P.S If I were O.P I will execute the advice that chemvidswoot, and as O.P said he will look into it in a great depth.
I reckon he is going to plan what chemvidswoot said, because a commercial building is excellent to make a ROI. 

[akram143]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

I think this year is Ripple's year.

Watch out bro Ripple is falling,many people were trapped in ripple's hype and now the price is crashing under the earth.It is not a good idea to invest on a centralized coin.I think this is Ethereum's year and you already can see the price of ETH is going to moon.

[LuanX3]

Right now I would say that it will be good to invest in ETH, like some others has recommended here. It is quite a good investment since ETH has been one of the most developed coin in the cryptocurrency scene and has a lot of plans for this year. I am not sure though how will the community react to when the time comes that it shifts from POW to POS, whether it would raise the price or it would drop everything down due to the fact that we should remember that the Ethereum Foundation practically holds shit tons of ETH in their reserves which will result to them being the biggest miners in case POS is implemented. However that will still take a long time, probably it would take more than a year to happen. Before that time, I think prices could even triple or quadruple due unless Bitcoins upgrades itself.

[rhamzter]

Right now I would say that it will be good to invest in ETH, like some others has recommended here. It is quite a good investment since ETH has been one of the most developed coin in the cryptocurrency scene and has a lot of plans for this year. I am not sure though how will the community react to when the time comes that it shifts from POW to POS, whether it would raise the price or it would drop everything down due to the fact that we should remember that the Ethereum Foundation practically holds shit tons of ETH in their reserves which will result to them being the biggest miners in case POS is implemented. However that will still take a long time, probably it would take more than a year to happen. Before that time, I think prices could even triple or quadruple due unless Bitcoins upgrades itself.

Ethereum is the good choice of crypto currencies to invest because this coin having high potential and possible to touch the position of bitcoin in the future. other than that the amount of this coin is affordable for many users, not like other crypto currency even bitcoin.

[600kcrypto]

Right now I would say that it will be good to invest in ETH, like some others has recommended here. It is quite a good investment since ETH has been one of the most developed coin in the cryptocurrency scene and has a lot of plans for this year. I am not sure though how will the community react to when the time comes that it shifts from POW to POS, whether it would raise the price or it would drop everything down due to the fact that we should remember that the Ethereum Foundation practically holds shit tons of ETH in their reserves which will result to them being the biggest miners in case POS is implemented. However that will still take a long time, probably it would take more than a year to happen. Before that time, I think prices could even triple or quadruple due unless Bitcoins upgrades itself.

Ethereum is the good choice of crypto currencies to invest because this coin having high potential and possible to touch the position of bitcoin in the future. other than that the amount of this coin is affordable for many users, not like other crypto currency even bitcoin.

I prefer to go for lower capped coins that hold real potential, Ripple I will never touch because I don't agree with the centralization aspect of the coin, and I think Raiblocks is actually a much better coin than ripple, plus is it truly decentralized. I would rather have a 43% stake in Raiblocks than Ripple for that reason. Like I mentioned, I will diversify my portfolio into a few more top 10 coins, and Ether will be one of them.

If anyone is reading this and is unaware of Raiblocks, Oyster Pearl or Enigma, I suggest you read into them. All very insteresting projects that could have a big future.

I am aware that it is a risky game I am playing, but I feel confident I know what I am doing. I Hodl'd my BTC through thick and thin for 4 years before I was happy with the return and am happy to do the same for the Altcoins I believe in, I agree a little diversification will make my portfolio "safer".

Just to be clear as well, I am 100% believer in blockchain technology and even if I were worth $600,000,000 I would still have large stakes of my money in crypto, as I think it is the future.

Oh and for anyone that commented saying I don't sound a newb to the forum, I am not I hold a hero member status on another profile, but I wanted to be a bit more anonymous when talking about a delicate topic like this 

[Aamir1]

I personally would never quit if i have had already earned that much through trading, but I would have converted some of it to fiat and would have already started living my desired life without any further wasting of time because we never know what happens tomorrow.
You should divide your assets in two parts. Make them 70%-30% or 80%-20% and use the lower part for yourself and the bigger part of further investments and trading. After one year again, do the same, and continue the process. It will make your life a lot easier.