Swap crypto or sell first then buy?

[JamesDaniel90]

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

[Cryptoprincess101]

Anyway it is your choice if you want to swap the coin to the one you want but since you want to still buy more altcoins there is no need of converting it to fiat just do direct swapping but i would have advised you that since you were lucky to make some profits from the altcoin you invested on, it would have been better for you to convert the coin to USDT and store it in your Spot wallet that is if you are using an exchange but if you still insist on gambling on other altcoins, the decision is yours to swap it.

[Nwada001]

Most times, swapping to other currencies using the convert option in an exchange always happens a bit below market price since the swap is a no-fee conversion. 
 
Just like what the other member suggested, I will advise you to first trade your holdings into a stablecoin to see the profit you made from it, and from there, if you still want to buy your desired coin, you can use the available coin you have based on the pair provided to place your order. 
 
converting to fiat and withdrawing it to your local account and trying to buy it back will definitely cost you a bit more.

[Smartvirus]

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

Well, those are some means to archive your purpose but, some approaches would serve you well than others and that would be the swapping.

Now, exchanges do operate on a standard price, depending on the coin in question, users would bid as they like and would either be slightly above or below what an exchange offers for a standard rate. Hence, this be a side to either benefit or not, depending on the permutations you’re seeing.

Secondly, having to sell and then buy again, is you actually taking part in two phase to the activity. Each of which, will be charged differently and you could be at the loosing end, although these charges are minimal and not very noticeable.
Having to swap however is just a one way traffic and you don’t get charged twice.

This however, is possible if them coins could be paired. I’ll go with swapping!

[boyptc]

Actually, swapping is also selling but just in the form of other cryptos. Whatever is going to be convenient to you, you do it.

is there not really much difference?

Yes, IMO there's not that much difference at all.

So, if you're taking profits. You do it before you get the answer you want to hear as the market is volatile as always.

[EL MOHA]

It definitely isn’t much of a problem to me which route you take. My only problem with having to convert down to fiat is that it will cause more for charges and looking more like it cause a little stress than the just swapping direct to the Altcoins. Although there are not too many of the Altcoins having a direct trading pair with each other but a simple conversion to the usdt and then buying with the altcoin and usdt pair, savin the stress of converting to the fiat which rates varies again.

Now my advice on this is, never jump on Altcoins that ere refusing to pump most especially when a Bitcoin narrative is driving the Market. Some of this Altcoins are just there with the potential no longer worth it and it will be risky to cash in on them with money from another Altcoins.

[JamesDaniel90]

Thanks for the replies so far.

The altcoin I have just taken profit on is Arcblock - I was lucky and got in last year at $0.11 and it has just reached a new all time high of $4.26 so almost given me 40x return so far so felt I had to take some more profit.

I sold to Usdt and then with that Usdt I topped up my bags on 4 other altcoins I already have in my portfolio that I believe will do well this bull run.

[boyptc]

Thanks for the replies so far.

The altcoin I have just taken profit on is Arcblock - I was lucky and got in last year at $0.11 and it has just reached a new all time high of $4.26 so almost given me 40x return so far so felt I had to take some more profit.

That's a lot of gain so congratulations to you. I want to ask if you don't mind, how much you invested on it and how much you gain in $?

I sold to Usdt and then with that Usdt I topped up my bags on 4 other altcoins I already have in my portfolio that I believe will do well this bull run.

You reroll it to other altcoins, good luck and hopefully you'd gain the same xx with that since the bull run is already in.

But if I am on your shoe, I'd take profit and portion for myself that I will spend to anything I want as a reward.

[OcTradism]

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into fiat and then buy the new altcoin I want with the fiat?

You can try to click on Swap and see how much you will get after selling at that time, after paying swap fee (on chain transaction fee and slippage fee). And you can compare it to what you will get if you sell one altcoin to fiat or stable coin, and swap stable coin to another new altcoin.

Usually altcoins don't have direct trading pair for you to swap directly and if they have a pair for swapping, if liquidity pool is low, you will lose with bigger slippage.

Be clear between fiat currency and stable coin. In cryptocurrency, it is more convenient if you swap your altcoins to stable coin, and swap stable coin to other altcoins. Selling to fiat currency is less convenient and maybe can relate to tax too.

[tech30338]

Take profit when you're happy, some people always think what if, loosing their chance to gain, this is always the problem with some traders, but if you are a holder, and expecting more on what you have, be ready to accept when the price move's up and down, its like getting tortured every time the price moves, that is why some people really don't look at their portfolio everyday, they just come back after a year or so.

[AVE5]

Since you don't seek for recommendation of Coins you could invest on, I'd only say that if you're not urgent in need to make use of your funds that has got you all that profits, no need to exchange to the fiat so you can just automatically swap to your desired AltCoin but you'd have to check if the Coins are listed in the Coinbase else you'd need to research on the exchange that supports it.
Sounds like you really made a lot of profits and if I'm right, I'd advice you diversify your investment probably consider bitcoin and I'd also advice that you make research before investing on those AltCoin. As for bitcoin, that's already a sure of you can invest and patiently hold, it'd do you better than expected.

[albon]

The altcoin I have just taken profit on is Arcblock - I was lucky and got in last year at $0.11 and it has just reached a new all time high of $4.26 so almost given me 40x return so far so felt I had to take some more profit.

I sold to Usdt and then with that Usdt I topped up my bags on 4 other altcoins I already have in my portfolio that I believe will do well this bull run.

Indeed, the currency achieved a new ATH 8 days ago, and a 40X return certainly looks attractive. Congratulations to you! It is good that you secured and frozen your profits in USDT instead of swapping directly for the tokens you wish to buy.

Holding USDT will make it easier to determine suitable buying zones for other altcoins you want to top up your wallet with. Also, you have not completely exited the ArcBlock; if it gets listed on OKX or more exchanges, you could potentially make more profits. I hope you have succeeded in doing your research and carefully choosing the altcoins you have invested in now. Also, I do not recommend holding your tokens on Coinbase or any other centralized exchanges. Since you appear to be a long-term investor, moving your coins to any decentralized wallet is better.

[Kelward]

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into fiat and then buy the new altcoin I want with the fiat?

Be clear between fiat currency and stable coin. In cryptocurrency, it is more convenient if you swap your altcoins to stable coin, and swap stable coin to other altcoins. Selling to fiat currency is less convenient and maybe can relate to tax too.

In cryptocurrency it's much better to swap your altcoins to stablecoins, and when you want to buy another altcoin, you'll just swap back to buy the one that you've chosen, it's more convenient that wey instead of going through the process of converting it to fiat, and then using it to buy the altcoin again. Another advantage of holding stablecoins is that it gives you the opportunity to watch out for a profitable altcoin to buy, without worrying about whether price will dump on you, while you're waiting.

[Zigabel]

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

swapping to USDT remains the best because its the most likely coin to be able to be swapped amongst other coins out there especially when it has to do with altcoins if you wound wan to reinvest in other altcoin i don't think its going to be easy to swap directly from one altcoin to another because some of them may most likely be on different blockchain or may probably be to expensive to swap directly on most of the exchanges but with USDT it feels like actually paying in dollars to be ale to buy the coin and that's why it still remains a better option.

USDT appears to be the universal coin amongst cryptocurrencies because with it you will be able to probably get to be able to get to purchase both bitcoin and other altcoins in the crypto market but then you cant get to swap all altcoins directly to other altcoins and even bitcoin in most cases.

[Doan9269]

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

You can use this idea to sell the coin you have already make profit on, hold your asset in usdt, then target another coin which is already on dip and invest on it with your profit from initial investment, then the real capital should then be reinvested back into the coin by buying it again at dip, then hold the two investment altogether till the market rises before you selling them

[qwertyup23]

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

It really depends on your preference if you want to do it or not.

Personally, I would like to convert my altcoins to BTC given the potential of the latter to skyrocket on its price. From there, I will HODL until I am comfortable enough with its price on the market when I determine that it is ripe for withdrawal.

You may consider keeping them also in such altcoin in order to avoid paying extra fees, etc. but be reminded that the movement of some certain altcoins on its price are relatively lower in volatility compared to BTC.

IN CONCLUSION:
Depends on your preference but I highly recommend that you convert it to BTC for both short or long-term investment/HODL.

[cryptoaddictchie]

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

I think you cant simply trade directly on cex on which your token can be convertible to another token but you mist have converted yet to usdt cause only few might be supported. But on some dexes there you could simply convert to other tokens but expect some gas fee is much bigger than normal queue.

I think in terms of fees both are fine.

[moneystery]

Thanks for the replies so far.

The altcoin I have just taken profit on is Arcblock - I was lucky and got in last year at $0.11 and it has just reached a new all time high of $4.26 so almost given me 40x return so far so felt I had to take some more profit.

I sold to Usdt and then with that Usdt I topped up my bags on 4 other altcoins I already have in my portfolio that I believe will do well this bull run.

that's very good to hear, congratulations to you. your decision to diversify into 4 altcoins at once is also quite good, because putting everything in 1 basket is not good either. but i have a question, do you also invest in bitcoin? because if you hope that in the bull run the 4 altcoins you hold will rise, you should also be sure that bitcoin can provide you with the potential for quite a profit.

[Spaceman1000$]

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

Why not sell it, use the USDT to invest in bitcoin, altcoins are not reliable like bitcoin. New altcoins are not promising, because I know as an investor, you would like to hold for a long time, Bitcoin allows you to hold for a long time and you will eventually get your return on investment upon holding. So I will advise you take the profit and invest in a stable coin like bitcoin, it seem to me like you are more involved in altcoin investment, which is more like exploring but try and also do more on bitcoin.

[KiaKia]

Not a good plan, most people have done this and in the end they would have done better if they held the first coins, the thing is it's not easy to find gems.

If one project give you 10x return it is not even an altcoins season yet, it is good to take some profits off the table but it is likely goung to be a bad idea if you invest all that money into another altcoins, because they might not perform very well.

A gem is a gem, when a full alt season starts they will blow through the roof, and your newly selected altcoins might not do very great like the first picks, stop jumping from one to another project.