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

[Storm4eg]

I think, that you should not sell it right now and stop your crypto marathon. Market is still growing, and at least in 2018 we will see a good growh for all perspective coins. You can take some percents from your stack and try to invest in ICO. There are a lot of good projects, which gains X's

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[cryptotricks]

You really need to withdraw atleast 200k and get out of the apartment and buy a house and treat yourself with good things.
Now that you are in the first phase of earning money. The next step is hard, which is to manage and multiply the money. Don't be a one time wonder, you gotta invest more carefully and take calculated risks having the remaining 400k as base and multiply it. You can lead a good to great life.

[cluit]

I think, that you should not sell it right now and stop your crypto marathon. Market is still growing, and at least in 2018 we will see a good growh for all perspective coins. You can take some percents from your stack and try to invest in ICO. There are a lot of good projects, which gains X's

You really need to take some good rest after making this much amount of money. You are no doubt going very well in the world of crypto currencies and if you continue to do the same in the future too, you will for sure be able to make some very good amount of money and that your dream of getting rich will definitely come true. Moreover, you should keep on working hard and learn more things to get more benefit.

[winterland]

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.

Do not do it yet, the opportunities in crypto are not going to last forever if you have already earned 600k then that is fine but that is not enough money for the rest of your life, take the opportunity and make as much money as you can right now, then after you get some millions or even tens of million then you can retire and never have to worry about money again.

[kingkong1234]

I wouldnt trust anybody but myself and my own research, but i would maybe take some profits. =)
25% of profitt from all coins to new coins you strongly believe in - then let the market repeat itself.

[portotoi]

You really need to withdraw atleast 200k and get out of the apartment and buy a house and treat yourself with good things.
Now that you are in the first phase of earning money. The next step is hard, which is to manage and multiply the money. Don't be a one time wonder, you gotta invest more carefully and take calculated risks having the remaining 400k as base and multiply it. You can lead a good to great life.

You have a point. You should treat your self and your family. Buy a house, cars and savings. You should not stop working in the crypto currency, just continue investing until the end. Because the crypto market now is still growing.

[neonshium]

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.

Do not do it yet, the opportunities in crypto are not going to last forever if you have already earned 600k then that is fine but that is not enough money for the rest of your life, take the opportunity and make as much money as you can right now, then after you get some millions or even tens of million then you can retire and never have to worry about money again.

There are number of people who are striving hard to get this much amount of profit which you managed to earn by putting in the best of your efforts. If you think you can still perform better in crypto world and that you can make more money, then it is better not to quit this stuff.

In fact, keep trying your luck by putting in more efforts and this will for sure help you in getting more profit at the end of the day.

[bitcoincashback]

when you buy a house or car, tax authorities will get noticed. they check your paid taxes before vs purchases. this might result in investigations. so go the legal way, my advice.

[neite99]

if this happens to me I would sell the half start an offline business with it and continue to trade with the rest of my capital, in long term from 2 places it would be easier to become a millionaire.

[felixccoster]

Sell )

[Calligiato]

What have you done ? Is there any news ?

[noormcs5]

I will suggest you don't give up and wait for a time. In trading sometime we should control our emotions and face the reality with patiently then definitely you will find your time. You know i bought some coins in 2016 and you know in this year i sell coins and i gain only profit from them 0.0006 and it is lowest profit but i hold it till the end and then i have gain this profit. But it is better for my experience wise and i realize without information don't buy any coins.   

[Zebedee23]

Invest in a good DPOS coin like ARK then live off your DPOS gains. $600k of ARK at current prices wold give you approx 45 ARK a day in DPOS , worth around $200 now.In a year you will prob be getting $1000+ a day worth!!!

[winterland]

Earning that amount is not yet time to say that you will call it quits. You still have a lot to do in life and more than likely that amount is not sufficient if you will live a good life with your own family. Unless you want to live a very simple and quiet life in the suburbs.

It depends on where you live if you are in a first world country that is not enough to retire, but it is a good start especially if he is young, but in a third world country that amount is a small fortune and enough to live the rest of your live if you invest it and live out of the profits of your investments, however it is too soon to leave the market there is still a lot of money to be made for the smart investor.

[BernK]

You're leaving and i'm starting.

Be my angel investor, LOL.

[cryptocogs]

The last few weeks would have really done some damage to that portfolio   What I've learned is to take profits along the way to buffer yourself against these huge dips.

[svetabez]

You are lucky! But I think you shouldn't be greedy..Crypto is very uncertain industry..

[el kaka22]

when you buy a house or car, tax authorities will get noticed. they check your paid taxes before vs purchases. this might result in investigations. so go the legal way, my advice.

This is just the best advice anyone will ever give you on the basis of getting out your cash the right way. Also, on whether to sell or not, the ball is definitely is in your court as you have the decision to make. Do not be greedy though and if you are a long term holder, you should at least have a little bit knowledge on following trends of a coin and knowing when to withdraw to fiat and buy back for long later on. Nevertheless, if you trust all the projects behind the coins you are holding, and then you are free to keep holding for as long as you want, if you really do not need anything to do with it for now.

Crypto is very uncertain industry..

Uncertain and volatility are the problems only for short term players but long term holders are enjoying along feeding to their greedy. What is looking like greedy right now, may become reasonable after some times. Because, this is how entire crypto world is working.

[diwataluna]

I am curious how the crash and dips have affected your portfolio and whether you heeded the advice of some to take some profits at least 50%. I myself don't have enough to even buy a car, but people I know who did not take profit early, not even half, are having regrets. We don't know when the recovery will happen or the next peaks. So minimize risk as well.

[raven7886]

The last few weeks would have really done some damage to that portfolio   What I've learned is to take profits along the way to buffer yourself against these huge dips.

I am sure it would have but not so much huge damage to zero anyway. However, looking at some of my holding and the way they dipped seriously in value, I would say not taking some out when the market was hot and everyone was busy buying before the correction happened would have been a wrong decision.

However, it is not everyone that has the idea of how the market works, some are just holders and they prefer to keep holding for as long as they are pleased with what they have left. The only problem is even if it gets pretty huge, human greed may want you to keep holding further.