To Cash Out or HOW to Cash Out?

[spyda5556]

Let's say bitcoin goes on a major bull run before the the end of the year...are you prepared to cash out? Are you ready to cash out or are you content to hold for longer? Will you be ok with paying coinbase fees to cash out or will you use other methods like LocalBitcoins.com for peer to peer transfer. What will you do? What method do you think is best?

[hugeblack]

It depends on your investment plan, if your idea is profit without setting a cap for gains, it means that you may lose because of greed. "20,000 is not enough. I want to wait until I reach 100,000 ".
Cash out process depends on your country and the amount of data "Docs/ID" you are willing to provide, getting cash "anonymously" becoming more difficult with a small amount of money and vice versa.
The best way is trading platforms due to lack of opportunities to  scam "if you deal with a reliable platform."

[Lucius]

Let's say bitcoin goes on a major bull run before the the end of the year...are you prepared to cash out? Are you ready to cash out or are you content to hold for longer? Will you be ok with paying coinbase fees to cash out or will you use other methods like LocalBitcoins.com for peer to peer transfer. What will you do? What method do you think is best?

There is nothing wrong in the fact that some things should be considered/prepared in advance, and in case user have intention to sell BTC at a certain price all possible options should be considered. At the end all is depending on what price you are ready to sell and do you have intention to buy back or this should be complete exit from crypto.

We see that any user who sell in range from 19k$ to 20k$ is made a good choice at that time, it was obvious that correction will take place and the opportunity to buy back will appear. If we look from that angle users who just hold actually lose opportunity to increase their amount of BTC, sold 1 buy 3 does not sound like a bad deal.

The best method to cash out is the safest one, to use trusted exchange and withdraw fiat to bank account.

[spyda5556]

Interesting thoughts I was expecting to hear more about platforms like local bitcoins and discussion about which accepting exchange has the lowest fees. I agree that your investment plan will be a major factor in deciding when to cash out, but I was just really posing the question of how would you decide to cash out if bitcoin were to increase dramatically by the end of the year. I agree that safety is a major factor but would likely be willing to take at least 10-15% of my holdings and try cash out through localbitcoins.com and avoid big coinbase fees. I don't know exactly what the coin base exchange rate is for bitcoin to fiat but I do suspect that if your exchanging over 10 K you will probably lose a significant amount in fees. 

[bigdaddyderp]

You could always utilize Tether do allow you ample time to cash out should the need arise.  I can see it possibly taking time to offload a 20k Bitcoin on a local forum. 

[KS03]

The cheapest and most private way would to do a transaction with someone you know and trust.  After that I would attempt to find someone in my region to trade with.  Expand your radius further and further until you find someone.  If you don't care about privacy or price use coinbase.  

[Don Pedro Dinero]

I’ll just HODL. If price goes up a lot I’ll spend some but won’t cash out.

[Coleth]

I’ll just HODL. If price goes up a lot I’ll spend some but won’t cash out.

Same thinking we have here. With its trend now, Bitcoin is rising, i really must HODL coins, and just few to spend whatever we need but more percentage to HODL, it will gain me more after.

[nicster551]

Let's say bitcoin goes on a major bull run before the the end of the year...are you prepared to cash out? Are you ready to cash out or are you content to hold for longer? Will you be ok with paying coinbase fees to cash out or will you use other methods like LocalBitcoins.com for peer to peer transfer. What will you do? What method do you think is best?

If it does happen I wouldn't just let go on Bitcoin, I would still stay for awhile it if will still go up, and if it does go down I would convert it into USDT.

[hatshepsut93]

I'm not ready to cash out because I'd quickly go over the monthly transaction limit, which will attract attention from authorities. I seriously don't want to pay those ridiculous taxes, so I'll probably have to cash out slowly and via multiple routes to stay off the radar. I also want to see Bitcoin accepted more as currency, so I can avoid some taxes by spending it instead of selling. Also, would be great to have some two-way ATM's to sell coins for cash anonymously.

[Btcjoglyn]

It depends on your investment plan, if your idea is profit without setting a cap for gains, it means that you may lose because of greed. "20,000 is not enough. I want to wait until I reach 100,000 ".
Cash out process depends on your country and the amount of data "Docs/ID" you are willing to provide, getting cash "anonymously" becoming more difficult with a small amount of money and vice versa.
The best way is trading platforms due to lack of opportunities to  scam "if you deal with a reliable platform."

I agree that. They have many ways to cash out Just read all forum for the information contained in this group. But will be in the market you must be patient to get the higher profit for that matter how much you want to make you satisfaction.

[Iluka]

my prefered way to cash out via MoneyPolo or Okpay, because they have  a money transfer like Unistream, Western Union and etc. You can send money to anyone.... if u undestand wat i'm talking about....)

[arthotdog]

Let's say bitcoin goes on a major bull run before the the end of the year...are you prepared to cash out? Are you ready to cash out or are you content to hold for longer? Will you be ok with paying coinbase fees to cash out or will you use other methods like LocalBitcoins.com for peer to peer transfer. What will you do? What method do you think is best?

I am ready to use our local wallets to convert my bitcoin to fiat whenever the bullrun comes because after conversion i will only wait for dump then buy that same amount to bitcoin again.this is how i run my holdings because bitcoin is my main objective being here,the more bitcoin i can have is the successful inmay come

[Wendigo]

I think historical market data has shown that the period January - February - March is when the price of Bitcoin goes down so if there is really a bull run happening this fall I would be prepared to sell before April for sure. The repeating cycle makes for an increase in prices in fall-winter season and a decrease in spring-summer season. Some people have said you should hodl everything until next Bitcoin halving. Seems like a good advice to me personally. As for the withdrawal method, well, I would go with Coinbase, because it's just so much more convenient to deposit, exchange and withdraw funds to your bank account in a couple of minutes without leaving the house. If you want to do a peer-to-peer exchange through LocalBitcoins you need to meet with strangers in public places which is risky as you could be robbed or attacked or followed back home etc.

[havok1998]

I will surely cash out if BTC, but in parts if sees a bull run before end of this year because as we all has observed and learned from the past history of BTC that it is always bullish by the end of year and becomes bearish by Feb/March month of upcoming year. Therefore its better to sell when BTC is bullish and again buy when it enters bearish trend. I will prefer peer to peer transaction in order to cash out my holdings as in my county India the central bank has banned transactions of crypto currencies, therefore exchanges are not able to cash out our holdings and are instead providing advanced peer to peer transactions for cash out. The rest of the trading remains the same.

[Tory-Tory]

Let's say bitcoin goes on a major bull run before the the end of the year...are you prepared to cash out? Are you ready to cash out or are you content to hold for longer? Will you be ok with paying coinbase fees to cash out or will you use other methods like LocalBitcoins.com for peer to peer transfer. What will you do? What method do you think is best?

I will be ready to cash out 50 percent of my balance, and transfer other 50 percent to stable coins. If people want to buy coins for cash, I'll try to sell it at a personal meeting. If not, I will use localbitcoins.

[drm]

I will cash out some but I will definitely hold a good stack as well, I still see bitcoin as a long term thing.

[khufuking]

I do not know what is behind this question ! cashing out in couple of months will be same as cashing out now what is the different ? and whay we would need extra preparing for it ! Anyways ...
The best way to cashout for anyone would be to use a local trusted person/exchange, it is the cheapest way to cashout .

[ralle14]

At least once a month I sell some Bitcoins that I receive in my address and i'll keep on doing it because i'm not in the position to risk everything I have on my address.

As what others said Coinbase is not available in every country. If Coinbase becomes available here I won't use them because our local exchange doesn't charge any fee for cashing out Bitcoins on selected banks and other payment methods.

I don't know exactly what the coin base exchange rate is for bitcoin to fiat but I do suspect that if your exchanging over 10 K you will probably lose a significant amount in fees.  

According to this article they charge 1.49% in fiat terms so for a $10k cashout they charge $149 in fees.

[deafmaster]

Well, if we say we I am going to earn a decent profit, then I will cash out then invest again. And then go on a cycle.