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Author Topic: Take Profits in BTC or USDT  (Read 645 times)
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November 21, 2020, 07:55:00 PM
 #1

There is some confusion when it comes to BTC Market or USDT Market and sometimes it is difficult to decide to take profit in which currency, BTC or USDT.

I give you an example here and hope anyone can explain in detail.

ETH was 0.035 BTC few months ago and it was around 400$ USD. I did not took the profit and did not sell Eth.

Today, ETH is 0.028 BTC but in USD it is around 540$. (buz BTC price is high)

Now if i had sold it earlier at 0.035 BTC, so today's its worth would have been 660$.

So what's is the best approach in this case to get the maximum profit ?

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November 21, 2020, 08:09:18 PM
 #2

So what's is the best approach in this case to get the maximum profit ?

Quick answer >>> Compare your crypto currency value to a single fiat currency, whichever fiat is your domestic currency.

The best approach is to compare your investment - ETH - to a currency that has a relatively stable value - USD, GBP, EUR, YEN. This will ensure that the investment price is being compared to a stable baseline each morning or night when you check in on the latest price or activity for the day.

When you compare the price of ETH to BTC you're comparing the value of two wildly volatile investments to each other, which makes the day to day comparisons of the price of ETH harder to understand, because it it requires you also normalize for the movements of BTC in the same day.


 
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November 21, 2020, 08:23:15 PM
 #3

There's no "best approach to maximize profit". If you sell your shitcoins for BTC, you're exposed to risks of holding Bitcoin, which could crash at some point. You're showing the recent market example, but think about 2017 - you could have sold ETH at its ATH of $1,200, and it would have been better than selling it for BTC, because Bitcoin fell hard. Both scenarios are possible, so it's up to you if you want to be invested in BTC after selling alts, or maybe it's time to hold some fiat currency or other types of investments. Keep in mind that altcoins follow Bitcoin when it moves, so a crash of Bitcoin's market is guaranteed to bring down all the altcoins with it.

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November 21, 2020, 08:27:45 PM
 #4

There is a downside to any choice you make. It's about optimizing your trading activity, not making the max out of it. My suggestion is that if you believe in Bitcoin and you want to hold it for long term to take profits in BTC. If you need cash or you want to stay out of the market, just take the profits in USDT.

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November 21, 2020, 08:31:47 PM
Last edit: November 22, 2020, 10:12:07 AM by zasad@
 #5

Myfe wrote you correctly.
But it is also worth considering what period you invest for. If you think that Bitcoin will be worth $ 100,000 in 2025 and Ethereum $ 10,000, then you don't care about the current price ratio.
You wait 5 years and then buy yourself a LAMBO.
The main thing is patience.





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November 21, 2020, 08:39:57 PM
 #6

You have to assume a risk in any case. You could cash out in BTC right before a bear run. You can make these comparisons because you have historical records, but can't predict if in the near/long term it'll work the same way.

One thing has been certain along Bitcoin's history: Bitcoin is almost always more profitable than any other asset. While a $50 to $500 run may look insane, it's not as insane as Bitcoin's $1k to $20k bull run. While at a first glance it may seem too expensive to get in the game, if you take a step back you'd notice it's almost always the exact opposite.

Here's how I've seen it work out: Alts are great for bullish alt runs. You have to play it smart and cash out at the right time. Seek BTC profit instead of USD and multiply your BTC during bullish alt seasons.

But again, I'm no expert/crystal ball so it's all about risk assessment. If you want, you could split and go 50/50: cash out half BTC, half USDT. Experiment by yourself and find the strat that works out for you while still making you feel somewhat secure/safe with the decisions you're taking.





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November 21, 2020, 08:50:03 PM
 #7

You can't guarantee get a maximum profit unless you can predict the future. The best to take profit efficiently is to converting your token to your original asset(The asset you used to buy the token you are holding). You can't catch all the opportunity to gain when you convert into something. Not all coins price are moving in the same way so it's a common customary to trade back your original token so that you can guarantee profit.

Don't ever try to catch all profit in different coins because you will just confused and panic when the price goes down.


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November 21, 2020, 08:52:42 PM
 #8

Your decision. But if you're allowing me to choose, I'll get the profit in USDT and will wait until bitcoin goes a little bit lower then convert it if that time comes.
That's just me and it's still your money that will be in that stake so you need to decide wisely which will work for you the best.

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November 21, 2020, 09:01:08 PM
 #9

Maximum profit? You can't earn from all angles, sometimes it maybe coincidence, but don't expect it. You're only asking this because eth didn't increase by the same percentage as btc. What if eth increases by 20 times that of bitcoin, you'll definitely be wishing you choose eth.


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November 21, 2020, 09:02:26 PM
 #10

It depends on how you will take the risks, too, and what is the investment for.

- If you are a high-risk taker, you can sell your ETH or other coins into BTC. By means that you have a chance to make higher profits again when BTC is bullish, the way is by holding again BTC after selling that ETH for a certain period, until BTC has its bullish. Then, it will give you high profits. But, you must be also aware that high profits mean requiring high risks. By means that if you convert your ETH or other coins into BTC, you must be ready for any kinds of risks, the volatility, and also probability to the very dropped price, badly to a bearish market. So fro this, better to have also certain analysis about what will be going on in the crypto market, especially the BTC market, if it has a chance to be bullish at a certain time later, converting to BTC is good enough.

- If you want to take a safer investment, just convert your ETH or coins into stable coins as @Myfe said. Converting to stable coins (USDT or your local currency) will make you in safer condition, moreover if you are willing to cash out the funds. Commonly, the stable coins will not drop or rise up significantly, so that the amount may not be far different.


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November 21, 2020, 09:07:32 PM
 #11

- If you want to take a safer investment, just convert your ETH or coins into stable coins as @Myfe said. Converting to stable coins (USDT or your local currency) will make you in safer condition, moreover if you are willing to cash out the funds. Commonly, the stable coins will not drop or rise up significantly, so that the amount may not be far different.


Can we consider buying and hodling stable coins as an investment? If I purchase 100 usdt, whenever I'm ready to sell it, what I'll get (irrespective of how good btc or eth is doing) is 100 usd. You can't invest on stable coins.


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November 21, 2020, 09:50:13 PM
 #12

The best thing to do when you are not sure is going half half, that way the outcome will be the same no matter what. If you have a good feeling though then use your gut. But never ever sell off all your coins unless you plan on buying them back later at a cheaper price. Just be very careful about doing that though as it's very risky.

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November 21, 2020, 10:30:14 PM
 #13

USDT and BITCOIN is essential,  because when you sell bitcoin you'll trade against USDT and when the price drops you'll buy bitcoin with the USDT. This is the common way I prefer, and with this the fund gets accumulated in the form of bitcoin and nothing to complicate. Until you're familiar with trading pairs it is the best choice,  because when we trade against ethereum or any other cryptocurrency other than stable coins it requires some calculations.

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November 21, 2020, 10:40:10 PM
Last edit: November 21, 2020, 11:28:37 PM by Bitcoin_Arena
 #14

It doesn't matter  Wink
What matters is that the fiat value of your asset increased regardless of the pair after that period of time. You are only focusing on the profit you "would have made" but it could have been the opposite as well. Would you be scratching your head if the profit was in negatives?

Point is, regardless of the trading pair, you still made profit vs the fiat value. That's what matters

This is a 1-day chart for ETH/BTC trading pair. ETH was doing well against BTC until around 1st September and then It started dropping. The price change you are talking about it just that recent candle. So it would be good to also analyse the ETH/BTC charts if you are planning to enter or exit markets against USDT.






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November 21, 2020, 11:10:31 PM
 #15

Depends on the time when we sell and the price of bitcoin/alts in that period.
Nonetheless, there is always the best way to maximize profit.
Because the price of bitcoin continues to increase while altcoins don't perform as well as bitcoin, the value can't compare to maximize profit. Hence, it's better to withdraw in USDT or any other stable coins.
A stable coin is one of the best approaches to maximize profit if the exchange doesn't support withdrawal in fiat currency.

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November 21, 2020, 11:30:18 PM
 #16

Your decision, your rules. When we invest in crypto there is no assurance that you can get a maximum profit since the market is volatile and we can't definitely predict the price value. The best that you can do in your case is to check the price into a stable coins if you already gained a profit as what others also been said. The other way is sell into btc if aiming for a high chance to earn profit since price value also of bitcoin is increasing this time. So we have a choice on what ways we can take profit.

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November 21, 2020, 11:53:10 PM
 #17

It's potential loss. Since you haven't switched to BTC back then, you must not consider this anymore.

Fiat and BTC both are different. Fiat is stable while BTC is volatile. So, either compare your profit with fiat, or with BTC only. For example, I have LTC purchased @0.005 BTC, I'm still in loss as I consider the BTC value when it comes to alt investment regardless of fiat value.

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November 22, 2020, 12:08:47 AM
 #18

I'd trade into the currency in which I withdraw.

Can you withdraw USDt? Do you trust USDt enough to hold it? I'd answer both with no that's why I stay away from usdt.

The rule that I follow is that I don't trade altcoins but BTC. It's more predictable and less manipulated. Whenever I get altcoins from giveaways, aidrops, forks, I turn them into bitcoin and if I feel like trading I trade it. When I feel like taking profit I sell into fiat, avoiding shady USDt.

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November 22, 2020, 12:18:45 AM
 #19

I'd trade into the currency in which I withdraw.

Can you withdraw USDt? Do you trust USDt enough to hold it? I'd answer both with no that's why I stay away from usdt.

The rule that I follow is that I don't trade altcoins but BTC. It's more predictable and less manipulated. Whenever I get altcoins from giveaways, aidrops, forks, I turn them into bitcoin and if I feel like trading I trade it. When I feel like taking profit I sell into fiat, avoiding shady USDt.

I have had several transactions with USDt but until now I feel fine, the price is not suitable for investment. the movement is just around it and doesn't seem to want to expand.

it is clear that for investment people can ensure that bitcoin is the best and because the price is now quite high, so it must be tricked by repaying our altcoin token sale to be exchanged for bitcoin. because if there is no funding that is the only way that can be done and we will finally be able to enjoy an increase from the results of bitcoin.

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November 22, 2020, 12:31:39 AM
 #20

Is there a reason why majority of altcoins cannot be traded with usd or usdt like btc, litecoin etc?  Why don't exchanges allow these to be paired then you have usd or usdt?  Because if you want to earn money in usd or usdt... well you need to pay another fee to go from btc to usd/usdt.


Can someone explain why?  Like if you trade btc, eth or litecoin or chainlink or bitcoin cash etc... you can trade it with usd or usdt.  But why not majority of those altcoins?
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