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

[layoutph]

You are doing it, wrong dude. You say you want to sell BTC today, and make USDT next time?

Just take a look, for EXAMPLE you have BTC today and its worth $1000 today. So you sell, so you have $1000, now BTC goes up to $200k, then you have to buy a higher amount of BTC. 

Heres a better option, let Bitcoin grow from $50k to $200, then sell Bitcoin and make it USDT. Let Bitcoin goes down until it reached $20k. But it will take a year to happen. Now that Bitcoin is only $20k, buy BTC again. You should have a huge profit when it goes up again.

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?

[Ozero]

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.

I still don't understand why selling bitcoins now. Despite the fact that bitcoin has partially recovered in price to $ 50,000, in the fall it should still rise in value decently and in six months should have a price much higher than it is now. However, each has its own trading strategy and its own vision of the market prospects. Of course, if it is supposed to invest in cryptocurrency again after a certain time, then it is best to keep them in stablecoins in your wallets. I do this in USDT, but if anyone has doubts about the reliability of this stablecoin, there are many other stablecoins and here, I think there is a large selection.

[haleema]

yes you can store in USDT, USDC or any stable coin in any of your personal wallet, but i don't think so that you can buy it again because its out of your buying range after you sell.
As per my advise hold Bitcoin grow from $50k to $100, then sell Bitcoin and make it USDT. Just Hold it.

[Beparanf]

yes you can store in USDT, USDC or any stable coin in any of your personal wallet, but i don't think so that you can buy it again because its out of your buying range after you sell.
As per my advise hold Bitcoin grow from $50k to $100, then sell Bitcoin and make it USDT. Just Hold it.

He probably wants to maintain the fiat value of his holdings rather than in Bitcoin. Maybe he will be off trading for that's he is making play safe strategy by converting his on a stable coin. He can always buy back Bitcoin with same fiat value, He just miss the possible gain but still he holds the original fiat amount so there's nothing be discourage on doing that. There's no guarantee that Bitcoin price will continue to increase over a month so playing safe is the best strategy rather than risking it for a gain that you didn't plan.

[goolesby]

In my opinion, one of these stablecoins USDC/USDT is the right choice because it is a crypto asset that tends to be stable in value. This is because its value is tied directly to fiat currencies, such as the US dollar. Not surprisingly, these crypto assets are often used as an alternative means of investing or saving money on the exchange to prevent losses when trading.

[Rb48]

USD is a stable coin. Its price will not increase. Its value is 1$ and will remain the same for a lifetime. If you want to see when Bitcoin has pumped a lot and you have made enough profit then you Then you can sell bitcoins and keep USD. Then with USD you can be completely safe, your throat will never be reduced, it will remain in that particular dollar.

[Fesatmas]

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.

Still want to sell your BTC today? Or is it still in the same condition as before? Look at the strong holder laughing to see you want to exchange it for USDT/USDC. If you still think when value stability lies in coin stability, then how sad to see Bitcoin price growth in these beautiful days.
Let's take the victory that in fact, lies with the long-term holders.

[adzino]

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?

You have two options. First one is to convert your coins to a stable coin like USDT or DAI. Second one is to convert it to fiat. You can also store it in USD in exchange., but that would be really risky. You can never be sure how much secure your funds will be there. Within few months, rules may change, you may lose access to your account or the exchange might get hacked and no longer available. So, yeah. Don't store anything in an exchange if you are going to leave for months. The issue with stable coins is that they can be confiscated/frozen. Google it and you will know more about it. I would rather suggest you to convert all your coins to bitcoin and leave it like it is. Or just convert it to fiat.

[Traderbtcc]

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?

You wanna sell now and re-enter after a few months, are you sure you will see bitcbelow your sell point, cause its not sure that you will see bitcoin at a lower price, it might be x2 of the price you sold it for instead of selling its much better to just hold, but if you still wanna go ahead with the selling plan just change your btc to a stablecoin like usdt or usdc and save it in your private wallet, since exchanges are unsafe for storing coins.

[guydin]

I think it is better to exchange bitcoin to USDC, so as to have stable coins until you want to buy some more currencies. But actually it’s up to your strategy and general situation in your country.  I mean if the government takes taxes for crypto trading, and if it is easy or difficult to exchange your crypto into fiat. And also if you are going to wait for a new dip to buy more crypto.