Sell BTC and take profit in usdc or usd on exchange. which is safe?

[abhilodha]

Lets say i want to sell btc today and reenter after months.

Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

I do not want to keep funds in my bank account.


need expert opinion.



exchange hack is more risker than usdc invalidating my coins or reserves problem?

[harizen]

Do you mean you will hold your BTC for six months? If yes, then stored it on a non-custodial wallet instead then just idle it there as long as you want and just wake them up once you are now ready to sell it. Transfer it to the exchange of your choice then do the conversion there.

No need to split funds into several exchanges. Just choose the reputable one once you are now decided to sell all your BTC. Read TOS too as there will be lots of changes after 6 months later.

[abhilodha]

Do you mean you will hold your BTC for six months? If yes, then stored it on a non-custodial wallet instead then just idle it there as long as you want and just wake them up once you are now ready to sell it. Transfer it to the exchange of your choice then do the conversion there.

No need to split funds into several exchanges. Just choose the reputable one once you are now decided to sell all your BTC. Read TOS too as there will be lots of changes after 6 months later.

i want to sell btc today and re enter later after 6 months. where should i keep the money.

[Woodie]

If you were a hodler of bitcoin and chose to sell for usdc or usd then consider being out of the market as those are stable coins which won't gain or lose value regardless of market reactions, in short both are okay.

which is safe?

This isn't easy to answer but if regulation is an issue from your country go with the crypto coin (usdc) but if not go with usd fiat just hope AML rules aren't strict, good luck.

[Strongkored]

You want to buy BTC back 6 months later, USDC or USD in my opinion is the same especially if the exchange you are using also provides USD, but if you are reluctant to save in a bank account it would be better to save USDC and only store it in a personal wallet not an exchange, because no one knows about the exchange in the next 6 months.

[DapanasFruit]

You want to buy BTC back 6 months later, USDC or USD in my opinion is the same especially if the exchange you are using also provides USD, but if you are reluctant to save in a bank account it would be better to save USDC and only store it in a personal wallet not an exchange, because no one knows about the exchange in the next 6 months.

I agree with this opinion. Keeping your digital asset in USDB or even BUSD can be the best way to tide over and keep away from the usual fluctuations happening every second in the crypto market. With the intention to re-enter the market later, USDC can be serving right. Of course, there are some who are expressing concerns on USDC as not so transparent with things they have behind but in my opinion this is still so fine with me. Of course, there are other stablecoins one can use and all of them are serving the same purpose which is to inject stability to us especially to traders. In the meantime, one can use stablecoin to make more money by staking or farming just choose the right platform to lessen the risks involved.

[vv181]

It's way safer to store FIAT than any stable coin. But since you didn't want to withdraw to your bank, the only option is to store it on the exchanges which it is highly not recommended.

Another case, and maybe this is a preferable option for you is to buy any stablecoins that you want, then store it on your self custodial wallet. As long as you didn't do anything illegal, the chance of your address being frozen is unlikely.

[tbct_mt2]

You can use exchanges as place to take profit but if you consider exchanges as where you store you money, in Bitcoin, USDC or USD, long time, it is not good.

Exchanges can make scam exits.  They can be hacked and announce bankruptcy. They can be shut down by governments. All of these, you can not control. On centralized exchanges, you don't have private keys of your coins so if they shut down, you lose your coins.

[anu1908]

6 months is quite long, if it's possible i'd rather hold fiat. since you don't think that's possible, maybe avoid usdt and use usdc to store your money. there's a ton of shady reports about usdt in the past, who knows what will happen in the next 6 months. don't trust usdc too much though.

[Dread Pirate Roberts]

Lets say i want to sell btc today and reenter after months.
Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

So that means you won't withdraw your flat and don't want hold any coins. well this depends on your own opinion. Which stablecoin do you think is safe for long term storage? if I still prefer to withdraw with a flat only. you  if i planned will not hold any coins. why keep money in exchange for that long ? and usually im using usdt as my stablecoin but i never hold stablecoin for 6 month.

[michellee]

Do you mean you will hold your BTC for six months? If yes, then stored it on a non-custodial wallet instead then just idle it there as long as you want and just wake them up once you are now ready to sell it. Transfer it to the exchange of your choice then do the conversion there.

No need to split funds into several exchanges. Just choose the reputable one once you are now decided to sell all your BTC. Read TOS too as there will be lots of changes after 6 months later.

i want to sell btc today and re enter later after 6 months. where should i keep the money.

You can sell your BTC pair USDT, USDC, USD in any exchange you want or custodial wallet. But as we know that saving in the exchanges will not be 100% safe, we need to think of other places to keep our funds safe. Maybe you can consider buying Ledger or Trezor wallet and moving your funds to one of those wallets or you can use both Ledger and Trezor simultaneously. You can keep your BTC in that wallet or sell it using the feature on that wallet so you can get USDT, USD or USDC save on that wallet.

I can suggest you sell some portion of the BTC you have and leave the other part in BTC and wait for the next 6 months so you can sell it directly when the price reach more than $100,000 or in your target price.

[Maus0728]

If you're on a tight budget and can't afford to buy hardware wallet, you can just sell your BTC to USDT and send it to a non-custodial wallet like Metamask instead of storing it on an exchange. I prefer using BEP20(BSC) network to reduce the transaction fee.

Beware, Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[RussianEnglishTranslation]

Lets say i want to sell btc today and reenter after months.

Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

I do not want to keep funds in my bank account.


need expert opinion.



exchange hack is more risker than usdc invalidating my coins or reserves problem?

If you sell BTC keep your USDC in blockfi or crypto dot com and earn interest.

[BigBos]

I might suggest you keep it in USDT or BUSD. however, if you choose FTX as the exchange where you keep your money, it might be better to choose USDT/USD.
Well, keeping assets on the exchange for that long seems quite risky, especially if you don't get any information about it. The advice and recommendations I can give for now, if you want to hold your assets for a long time in the crypto world, you should choose Binance as a place of storage. otherwise, do KYC, and choose BUSD. binance is very responsible with the assets of their users. they have been hacked, and are responsible for it. Other than that, for a 6 month period, I think it's very safe at Binance.

[Ultegra134]

You can either exchange to a stablecoin, such as BUSD, USDC or similar, and then store your coins in a wallet. Otherwise, I think you'll be safe even if you store your money as USD in any reputable exchange, such as Binance, Kraken or Bitstamp.

I had 600 Euros stored on Bitstamp for over 2 years, without any activity for that time period, and faced no issues at all.

[ogundowotoby01]

You can sell your Bitcoin for USDT or any other stable coin that you desire but storing it on any exchange can be risky as exchanges are prime targets for hackers ansld malicious attacks. However, some exchanges have proven with the track record of very high security and Binance is one of them. But i strongly recommend that you store your cryptos in a personal wallet where you on the private keys and you are at very little risk of getting hacked

[livingfree]

Sell it for DAI.

It is a decentralized stable coin.

If you're wanting to reenter soon, that's the best choice in the stable coin that you want to hold then.

About USDT, it can freeze funds although they're only doing that for stolen funds and other bad stuff that they may apply. But the fact that they can do that makes us think that they can also do that with normal accounts.

[Baimovic]

My question is, is there a market in your country that has a BTC Pair with your country's currency? if there is then you will be safe to keep assets on the exchange as long as you know the exchange and to exchange it for USD is also quite safe as long as you keep it on exchanges with large volumes and markets such as Kraken, Binance and FTX with little risk of hacking.

[Alert31]

Lets say i want to sell btc today and reenter after months.

Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

I do not want to keep funds in my bank account.


need expert opinion.



exchange hack is more risker than usdc invalidating my coins or reserves problem?

Why not stay in bitcoin and just hold for long term, it's just like you put your money in a bank but with bitcoin you have a chance to earn huge profit after holding it for long term. But of course it is still risky but if you believe and trust in bitcoin, nothing to worry about. If you really want to just put your money in your wallet then, try to exchange your bitcoin into other stable coins and just store in your offline wallet and not on exchange just for safety of your funds.

[Maslate]

Lets say i want to sell btc today and reenter after months.

Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds   on bitstamp, kraken, ftx in USD.

I do not want to keep funds in my bank account.


need expert opinion.

I'm not an expert with this but maybe I could help.

If you only have a small fund, I think you don't need to split it into more than one exchange. I know you are right that exchanges are also prone to hacking and so your account but choosing a good exchange with a high-security system is actually what you needed.

Actually, I held my fund to an exchange Binance USDT for several months but lately, I withdraw it for personal needs. But with that several months stayed in there, I haven't experience hacking, maybe it was because I dare to check my account frequently to see if there is unauthorized transactions or it was because I've done with the 2FA validation.