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

[atrocityx]

I think your portfolio feels overextended and should consolidate back some to heavy bitcoin/eth... Raiblocks is way overblown and is suffering from pullback that was needed based off of the hack.. one good pop and Id half your position.. someone said it may double but I think thats optomistic... Bitcoins looking imo to go on a massive rally after consolidation and will likely take eth with it and bury all alt coins once it passes the 17k resistance level.. id hedge such large funds in something a bit more stable atleast until the bitcoin dust settles (if you don't cash out before then)... your porfolio just looks scary dangerous..overnight with one fell swoop it could half.. Congratulations on your earnings though. really impressive and hope you buy a house or something useful instead of spending it on something needless like a lambo.

[gxmonitor]

600K is huge money. Why you still take risks in cryptos. You should take retirement and should enjoy with this money.

[Q2kc]

Encash %50 of your earnings in crypto and leave the other %50, now you have a cash worth of $300k we know that it is a huge amount, my advice is you can use that money to make another good business that is not related to crypto, spend your money well also that amount of money can bring you anywhere travel the world dude,explore go out   and spend time with your family use your money for happiness.

[joshy23]

If I were you I would just keep Hodling. Good rule is to sell 10% everytime your portfolia doubles or triples.
https://www.youtube.com/watch?v=BH-bxAr0jCk

Maybe much better to sell the other half when you already seen the double so you will be able to reinvest it to another project, keep the other half on hold as we knew that most of the time the value is much higher when the train start to ride many new investors will buy in and also find their luck to have a huge profits.

[blueman8331]

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.

It's awesome.congratulations
can i ask how much did you start (dollar)?

[winterland]

You're leaving and i'm starting.

Be my angel investor, LOL.

At some point we were all beginners and did not knew much about bitcoin and other cryptocurrencies you need to make an effort to learn and this forum is the perfect place, take your time the market is going to be there and the opportunities to make money will be there as well, but if you do not do you part it is going to be impossible to make any money and in fact you could lose it instead.

[chrisrok]

I really recommend you to buy some stocks, in the best case just build a globally diversified ETF portfolio. On the long run, this will give you an annualized return of 8-10 percent and with etfs you can achieve a very high diversification among stocks.

You should simply diversify your assets now. 100 percent in crypto is simply to risky.

And consider, if some of the asset classes move into different directions, you can rebalance your portfolio.

Good luck and congrats for that solid investment 4 years ago!

[rickadone]

Sell

I would not consider selling everything though. I can just advise him to at least take out half of each of the coins, take a little bit of it to find some new and upcoming project with prospects and take a chunk of it to start some nice cool business offline. There is something with offline business that at least will give you some rest of mind to keep seeing money coming in for you all the time. Crypto profit is good, but getting too greedy sometimes is not the way to go.

[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.

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.

Some people may think that is greediness but it is not, when you are getting your way that is the moment to keep insisting, many people make that mistake thinking they can always recapture that moment but that is not always true so if you are doing fine with your trades then there is not a reason to stop you will have a lot of time to enjoy your profits later, right now is the time to work and get all the coins we can get our hands on.

[katrimans]

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.

600k in crypto is quite a huge profit, but I don’t think it is a good reason to quit. If I was the one,  I wouldn’t quit immediately,  I will simply withdraw the profit I’ve made so far and start afresh and make more money. #600k is even a small amount of money compared to what I’m seeing people make from Bitcoin. There are people making millions of dollars from this,  but don’t be greedy lol.

[linshuhow]

I would sell half of it if I were you to be honest

[JMD07]

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

Good advice, no time to be greedy. Cash-out half and spend vacations with your family or you can buy a land and build an apartment for rental as this business is always good. Don't put all your funds in crytocurrencies as what they have said...we can't predict the cryptomarket.

[anna1996]

I would sell half of it if I were you to be honest

I would do the same ! 

[carlfebz2]

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.

600k in crypto is quite a huge profit, but I don’t think it is a good reason to quit. If I was the one,  I wouldn’t quit immediately,  I will simply withdraw the profit I’ve made so far and start afresh and make more money. #600k is even a small amount of money compared to what I’m seeing people make from Bitcoin. There are people making millions of dollars from this,  but don’t be greedy lol.

Well you cant force a person if he would completely stop on crypto once he hits that particular amount since we do have different goals and contentment's in life which means amount of money would really vary into each person but in my case I wont really stop here which that money can be still make to invest even more and diversify out to get more income or profits.Not on being greedy about money but we do know the advantage on a financially free person.

[yurenchuang7125]

If I were you, I would sell half of the encrypted currency and improve my life.

The remaining half continues to invest.

[nazaididuan1]

You can go on with your work, get the money you've earned, invest in some good ico, and it's easy to generate new profits for your assets!

The year 2018 will be the year of the digital currency. I don't think you should rush this opportunity!

[katiecbell]

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 a valid one. With this kind of stuff, you can at least be sure that you have something online that will be going good for you forever. The crypto world is here to stay for sure, but leaving like a huge percentage of your net worth offline does not really make any sense.

Diversify offline a little bit by setting some lucrative and good business up, and you can even still with that keep investing in new cryptocurrencies for the long run.

[jojowar]

Most people has no satisfaction in life. You have a 600k crypto, why don't you convert the half into fiat and buy first your necessity or a house of your own then continue the half on your trading business in cryptos. You have the opportunity to buy then why don't you grab the chance before its too late.

[StuartBTCETH]

Spend all the money for leisure and buy the things that you want.

[preceptus11]

You must use the money you have and sell it to pay your text.