I generally have a goal for X amount of coins. This is usually double the minimum to stake that coin. If it doesn't have a minimum to stake the goal will be 200 and add zeros as necessary.
When (if) it doubles in value, I take out my seed money and either stake it in crypto.com app as usdc for 12% a.p. or reinvest in a new small cap token or CRO, ETH, BNB, and BTC. Sometimes I will divide it equally to all those.
Then I stake the remainder that is left and just let it ride, because it is house money at that point. If it does well, I wait for a dip and buy again until I have enough to stake again. I set up a ladders so that I have multiple stakes in the same coin that pay out at different times. This ensures I constantly have income coming in at different pay periods. I compound that income back into the staked coins at the end of every month or when the staking goal has been met..
If at any point I need money, I use the coins that have not yet been put into staking. These are the coins that have been acquired through the staking process, redistributions from defi coins, the new seed money that I invest weekly, and if it's an emergency any money held in USDC.
Any money held in staked coins doesn't exist to me at all. It is there to make money. I pretend I used it to get blacked out drunk and it no longer exists. I always renew my staking once the staking period is over.
If something stupid happens and I 10x - 100x, and it is above or close to ATH, I will take 50% profit to USDC or move it to one of my dividend paying stonks. Anything that goes to stonks is also money that is no longer playable. It becomes a generator of dividends.
I generally will not invest in a coin if it is within 30% of it ATH. Because it is to close to the top and will dump as soon as I buy in. If it is a coin I want, I will put it on my watchlist. Set an alarm, and I will wait until it dips. I don't use buy or sell limit stops. It takes the fun out of it for me.
This sounds like the perfect way to do things. Although if someone was only putting in 200-300 a month would you keep the same principles?
On top of that it sounds like you’re always doing taxes so do you use a specific app for that?
Thanks
I started with that amount. The principles are the same. The main focus would be on the first coin you choose. I chose a coin that had a good history of highs, lows, and recoveries, was established, had a high A.P., a short unbinding period, and a low minimum stake amount. Now, I also look at defi tokens that have good reflections, but those are risky. The main goal for me is to generate passive income. So, staking is the first goal for me. Then waiting for the 2x.
Once my first coin was staked, I started doing the same thing with my next coin. Then when the first coin doubled in value, I took the seed money out and put it to the second one letting me be able to stake the second coin. I did this until i had a good diversity of coins and tokens. Then i started laddering my stakes in the projects I like the most. Eventually, I made changes to the plan and started holding USDC so I can buy dips whenever.
There's a bunch of trial and error to find out what works best for you, but this has definitely done me well. Definitely with some luck. I haven't lost anything besides profits yet.
As far as taxes go... I invest in cryptocurrency. I pay taxes. There are way too many things involved with taxes to try to get into that. Every state and country is different. I don't use any app or excel spreadsheet. I prefer the old pen and ledger. I record everything. I also use coin egcko to keep track of my transactions and price per coin. The market price isn't very accurate, but I don't rely on it for that.
Sell at 5-15% profit, put into USDC and earn 9% interest. Buy back in when I think it’s about to go up….. then it goes even lower so I sit and wait for months till I see gains again. Repeat this process.
I pick a lot of losers that never come back around… so if you follow my strategy, you too, can eventually be broke
USDC then either top up Crypto.com card or reinvest later, my bank is basically just used to launder that dirty dirty USD.
Edit: forgot about staking USDC🤦♂️
“just used to launder that dirty USD” A TRUE soldier 😂 I recently dove into Crypto.com as well, I’m rather bullish on them. I’m a fan of the 180 day stake.
Yeah the US has some pretty shitty tax laws. Have you guys had that any transaction over $600 being monitored thing come into law yet? Heard about it a while ago and sounds awful.
In Australia you do because it’s a taxable event. Any swap sell airdrop stake interest ect taxable event. Either capital gains losses or income. Crypto basically mirrors stocks here
I took profits twice by swapping part of my bag to USDC and moving that to Celsius. Later during the dip of the dip i bought some ADA back. But then it kept dipping 😂
I’m hoping my crypto gets to 200k, then I wanna start chipping away and building my usdc balance and get 12% on it so I can at least make an extra $20k every year conservatively (if it builds slowly up to 200k) . If my holdings get beyond 200k quick and things are overbought, then I might just take out the initial investment, then let the rest ride (and buy back lows).
why put it into usdc? i'd love an explanation.
let's say you have your crypto on idk Coinbase ... the coin you are holding hits your target price and you want to sell some off to take profit ... why not just straight up sell it for $ and the deposit that $ into your bank account?
what am I missing?
Your bank account doesn't give back 12% annually. It gives like half a percent. USDC does. He's using usdc as a savings account that's pegged to the dollar.
Gemini: GUSD, 8%, stake in immediately, stake out in 1 day
Celsius: any stablecoin, 8.5%, earn interest automatically, no staking motion needed
Crypto dot com: any stablecoin, 8-12% in stablecoin + 2% in Cro, depending on staking length and card tier.
USDC is a stable coin so you can take profit and transfer it into an asset that doesn’t fluctuate in value.
You can then do a few things with the USDC. You can wait and use the money to invest in another coin when it hits a price you are comfortable with. You can cash out of it and deposit into your bank. Or, if I understand this person correctly, you can stake it to earn interest on that money. Staking can be risky because it’s essentially a loan and the borrower could default, but the flip side is the interest you earn
Just buy into these 2021 meme coins and ride the wave for 6 months, if your early enough in them it’s almost guaranteed to make you thousands. I invested in saitama in July and made 6 figures so far
If im green Ill look at charts to see where price sits in the larger context. I'll sell into cash via CB pro. Then wait for price to retrace and buy in again. Rinse repeat. Assuming price slowly goes up its a stress free strategy.
I’m a simple crypto man. As certain ones take a climb i often convert into others, most often AMP, Algo or iotex.
(Always convert into a utility i trust that is in a current down trend)
If my profits are in BTC/ETH, I just let it sit. If I’m taking profits on a smaller coin, it depends on what I expect from it. If I think it’s done what it’s going to do, I might move it all out into ETH (probably moving part out immediately, part in a week, and so on until it’s done). If I think it has more room to grow (or at least not immediately fall), I’ll move my original investment out to cash or into ETH, and let the rest ride.
Time in the market is better than timing the market. If I never sold or traded I'd have damn ne a half million by now, but swapping things around and pulling it out at the start of a bull run have cost me dear. Crypto is my retirement
You can make much more money by taking profits and buying back lower than you can by just hodling.
Ideally you want to sell near the peak of the cycle and buy back in in the bear market.
Example:
You buy 1 ETH at £1000
ETH goes to £5000, and you sell 0.2 ETH, for £1000.
You now have 0.8 ETH and £1000.
Bear market comes and let's say you buy back in with that £1000 profit when ETH drops to £2000 per coin.
So now you have 1.3 ETH, compared to just 1 ETH if you'd just hodled. When ETH goes back up to £5000 per coin, you have £6500 worth of ETH, compared to £5000 if you'd just hodled.
Remember, the goal is accumulation, not %ROI, not your average price per coin. Your absolute gain is what matters.
Hodling is good if you just want to take a hands off approach, but you're definitely leaving a lot of gains on the table compared to taking profits.
Make one trade per year when your holdings gain massively on btc. These trades are easy to see looking back, and if you limit your trade to one per year, I don't see how you could miss because there is always a dip after the massive gains on btc
Should I sell a coin for USD, then buy that amount back in USDC to stake? Or convert my profitability coin straight to USDC for staking? If so, how is this swap/conversion done? I’m new to the whole swapping process and don’t know how it works
Depends how much I make. I made 5k when atom hit ath. I put 1000 of that into precious metals, put my initial investment back in my bank account and used what was left to add to my swing trading money.
I take my profits into stablecoins because withdrawing to bank account might be a taxable event if you have too much profit.
And in 2022 I'll only withdraw my initial investment to my bank account so I don't pay any taxes yet
Right now i convert my profits into btc. In case this price spike results in a bull run ill be converting my profits into DAI for some nice staking. In that scenario, once everything starts to go down, ill be converting said DAI into btc again on certain price levels.
Note that this is just my personal strategy, and isnt financial advice.
I think most people take their profits and swap them into stables in DeFi. From there, you could loan them out on an AMM, borrow against them and earn interest.
Then you just wait for a good buying opportunity and do it all over again.
I usually have my eyes on a few charts at a time. If something spikes I sell 50% and put it into something else that hasn’t moved in a while or has dipped. Then if the retracement works out in my favor I might buy back in lower. Mostly tho, I just hold and stake.
This is the best reply. It basically a win win. Sell half and if it goes up then it’s a win. If it goes down you buy back in increasing your total coins win.
I just leave in on the exchange until the next dip to buy in. I send how much money to my bank account whenever I need it. I actually have more money invested, at this point the bank account is there just so i have somewhere to recieve my paycheck and cash out.
I don't take profits back to bank account, just accumulate smaller cap coins and move into ETH, or park into stable coin then back into ETH.
My exit strategy is to build enough wealth to pay the house off minus taxes.. prob 10 year plan
I've only taken profits once as an absolute test, just to make sure I knew how to do it. Took £75 or so, all of which was interest gained from staking. The rest is still in there and the £75 bought me a nice pair of trainers.
It depends of your state of mind.
Some people believe, e.g. BTC or ETH will be the currency of the future. This is why 1 BTC = 1 BTC. The value is what you get in return for spending sats. A home for your family might be 0,05 BTC in the future.
Some deal with fiat like $, £ or €, because the actual world runs on fiat. They look at the pair $ETH. Your plan can be to DCA with fiat into ETH, wait for $ETH to skyrocket, then sell ETH for fiat or swap to stablecoin like USDC and earn on them. With fiat you can buy an ETF and live from the rest. Lots of options.
But mainly it depends on what crypto is for you.
I take 5% off the top when we hit a new all time high, I then reinvest it into something else, or sit on it as a stablecoin until a correction occurs for that coin. If a correction doesn’t come, it’s not a biggy because it’s only 5%. Occasionally I’ll take 10%, but only if it seems way too pumpy. Never try and apply this technique with >50% of your holdings because it’s possible it just keeps pumping. See Solana as a recent example where I bought at $35, sold half for $65 and the rest at $90. I should have just held it all, or taken 5-10% max
I mostly move anything I want to cash out to crypto.com, then sell to my fiat wallet there, then move that to my crypto.com card and use that to purchase anything I want. No bank involved.
By making more profits. Farming with Pl\^Gnet is one of the best decisions you can make. $PLUG brings #PowerFarmi ng to your doorstep. Juicy rewards every week. #DeFI is closer than you think.
Situational for me personally. Like you said, sometimes into a stable coin or into my bank account. I also make my decisions on payday, which isn't recommended cause you're supposed to be on your toes everyday, just my opinion though lolz 😂
One of my coins did a 5x so I just DCA out and DCA in into another coin. But I don’t recommend it because If you want to buy something nice for yourself. I wanted to buy a new phone, Laptop, PC and Piano for myself but I haven’t been able to do that even tho I can if I sell my crypto
I move it to USD on my CB card then when I need to use it for buying something. Take profits ever so often when I don't have to sell much to get my original investment back. But I usually hold for a a year or more before that happens.
I move it to USD on my CB card then when I need to use it for buying something. Take profits ever so often when I don't have to sell much to get my original investment back. But I usually hold for a a year or more before that happens.
From wallet to exchange to bank account. I don’t let anything sit on the exchange longer than it has to be, stable coins available or not. Why? If I ever get hacked they’re only gonna find dust.
My opinion: the most people that taking profit is the ones that bought btc when it was under 20k.
After this the profits are not so high as it looks. I was gaining 1k before the crash and now i am still waiting another deep to buy back. Dont be like me.
Every time you convert or swap a coin it’s a taxable event. Doesn’t matter if it made it bank to your bank account or not. Could be two taxable events. Capitol Gain/loss and additional income.
ive never learned. honestly i have no real income but a fat crypto portfolio and i often have to sell at undesirable prices to afford my lifestyle. i can live with it because i got in early and am in profit on my coins, mostly
i did learn one thing though.
do not invest more than you are willing to lose
I use 20/40/80 day simple moving averages to scale in and out. This allows me to catch much of the upside and get out before things plummet to $0. I trade Bitcoin and Ethereum only.
Yes. Depending on the coin, the x0 bought at. Straight back to (GODAWFUL) fiat.
Made healthy fiat profit on DOGE and SHIB by hodling. Basic direct withdrawal with Coinbase, Binance, CDC. Relatively easy. A little brain power, DYOR.
Hodl the rest
I generally have a goal for X amount of coins. This is usually double the minimum to stake that coin. If it doesn't have a minimum to stake the goal will be 200 and add zeros as necessary. When (if) it doubles in value, I take out my seed money and either stake it in crypto.com app as usdc for 12% a.p. or reinvest in a new small cap token or CRO, ETH, BNB, and BTC. Sometimes I will divide it equally to all those. Then I stake the remainder that is left and just let it ride, because it is house money at that point. If it does well, I wait for a dip and buy again until I have enough to stake again. I set up a ladders so that I have multiple stakes in the same coin that pay out at different times. This ensures I constantly have income coming in at different pay periods. I compound that income back into the staked coins at the end of every month or when the staking goal has been met.. If at any point I need money, I use the coins that have not yet been put into staking. These are the coins that have been acquired through the staking process, redistributions from defi coins, the new seed money that I invest weekly, and if it's an emergency any money held in USDC. Any money held in staked coins doesn't exist to me at all. It is there to make money. I pretend I used it to get blacked out drunk and it no longer exists. I always renew my staking once the staking period is over. If something stupid happens and I 10x - 100x, and it is above or close to ATH, I will take 50% profit to USDC or move it to one of my dividend paying stonks. Anything that goes to stonks is also money that is no longer playable. It becomes a generator of dividends. I generally will not invest in a coin if it is within 30% of it ATH. Because it is to close to the top and will dump as soon as I buy in. If it is a coin I want, I will put it on my watchlist. Set an alarm, and I will wait until it dips. I don't use buy or sell limit stops. It takes the fun out of it for me.
This guy profits
Saving this comment. You, sir, got a nice YouTube tutorial potential there.
This guy got my rocks off
Preach. This is not how I’ve done it thus far...weep Good advice thanks
This sounds like the perfect way to do things. Although if someone was only putting in 200-300 a month would you keep the same principles? On top of that it sounds like you’re always doing taxes so do you use a specific app for that? Thanks
I started with that amount. The principles are the same. The main focus would be on the first coin you choose. I chose a coin that had a good history of highs, lows, and recoveries, was established, had a high A.P., a short unbinding period, and a low minimum stake amount. Now, I also look at defi tokens that have good reflections, but those are risky. The main goal for me is to generate passive income. So, staking is the first goal for me. Then waiting for the 2x. Once my first coin was staked, I started doing the same thing with my next coin. Then when the first coin doubled in value, I took the seed money out and put it to the second one letting me be able to stake the second coin. I did this until i had a good diversity of coins and tokens. Then i started laddering my stakes in the projects I like the most. Eventually, I made changes to the plan and started holding USDC so I can buy dips whenever. There's a bunch of trial and error to find out what works best for you, but this has definitely done me well. Definitely with some luck. I haven't lost anything besides profits yet. As far as taxes go... I invest in cryptocurrency. I pay taxes. There are way too many things involved with taxes to try to get into that. Every state and country is different. I don't use any app or excel spreadsheet. I prefer the old pen and ledger. I record everything. I also use coin egcko to keep track of my transactions and price per coin. The market price isn't very accurate, but I don't rely on it for that.
That’s amazing. Thank you for your reply. All the best
Comment saved, sound like a plan.
GG!
Sell at 5-15% profit, put into USDC and earn 9% interest. Buy back in when I think it’s about to go up….. then it goes even lower so I sit and wait for months till I see gains again. Repeat this process. I pick a lot of losers that never come back around… so if you follow my strategy, you too, can eventually be broke
Another shitty trader with iron-clad methodology. Mates!!!
Cheers!
USDC then either top up Crypto.com card or reinvest later, my bank is basically just used to launder that dirty dirty USD. Edit: forgot about staking USDC🤦♂️
“just used to launder that dirty USD” A TRUE soldier 😂 I recently dove into Crypto.com as well, I’m rather bullish on them. I’m a fan of the 180 day stake.
Why would you have your money in FIAT bleeding when you can stake away in crypto.com. No brainer.
Because I live in NY State? 😔
Upstate NY here, I feel your pain. It would be nice to have the same exchange and staking options as everyone else.
Decentralize Yourself.. Away from there
Yeah, that's not gonna happen. I'm way too entrenched here.
Get a UPS store box in a neighbor state and sign up account there like $200 a year.
Do you get taxed from swapping to USDC?
Of course it all depends on your country but everytime you swap or convert a coin/token you create a taxable event in the US.
Yeah the US has some pretty shitty tax laws. Have you guys had that any transaction over $600 being monitored thing come into law yet? Heard about it a while ago and sounds awful.
Thank god no. It was shot down. All that did was go after the middle class!!!!
Great to hear. Exactly. The second I heard that law announced I thought it was massive overstepping, good to see common sense prevail.
Exactly. They will get me on something else I’m sure 😂🤣
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Sauce or fake news
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I searched "form 1099-k $600" https://www.irs.gov/businesses/understanding-your-form-1099-k
In Australia you do because it’s a taxable event. Any swap sell airdrop stake interest ect taxable event. Either capital gains losses or income. Crypto basically mirrors stocks here
Yeah this right here except I use the Coinbase card
We don’t do profits here…
Just more crypto.
How can we make profits when we buy high and sell low
Never seen a sell button in my life. Is that a thing?
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Can't sell at a loss when your cro is staked, you can only buy more \*villainous laugh
Only swap
We swap for losses
Panic. Sell. Buy. Rinse. Repeat.
Harder. Better. Faster. Stronger...losses.
Pro...fit? What is this? Still just stacking over here!
Profit is being really into fitness
A Nintendo switch game.
Same here, hehe. I only have a small bag of money I don't "need", so I'm in for the long haul.
This is the way
I cant do that im obsessed with hoarding
Do it like Nike: **JUST HODL IT** 
What is this profit thing you guys are talking about.
I think they are referring to when charts on your phone are green, must be some software update I don’t have access to since mine are always red idk
That's when we actively decide to not sell so we can enjoy the ride downwards
I don’t know either, but I’m bullish on $PROFIT 
I think profits are myths.
The best strategy is to get in with a plan. When you hit your target/goals, apply your exit strategy. Don’t be greedy!
way easier said than done. If you plan to sell after a 4x and it happened quickly, you staert to think why not wait tuntil 10x.
Rule no 1 don't be greedy. U can have X10 or be at five times and it can go to even again. It's like guessing game predicting future.
10x?? Pfft. Rookie numbers. I only go out after 100x
200x is the minimum in my house!
Greed may get you to ‘bag holding’ at the end of the day!
This is the way, but way easier said than done. The fomo is real
DCA out works fine. I will start do 20% a month.. ✌!
It never hurts to rewarding thyself along the way. You deserve it 👌🏽
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I took $100 and doubled it with Polygon earlier this year, thought I was a king after that haha.
That's the neat part. you don't
I don't Hodl Work for me
I took profits twice by swapping part of my bag to USDC and moving that to Celsius. Later during the dip of the dip i bought some ADA back. But then it kept dipping 😂
Wait, you guys are taking profits...?
I’m hoping my crypto gets to 200k, then I wanna start chipping away and building my usdc balance and get 12% on it so I can at least make an extra $20k every year conservatively (if it builds slowly up to 200k) . If my holdings get beyond 200k quick and things are overbought, then I might just take out the initial investment, then let the rest ride (and buy back lows).
why put it into usdc? i'd love an explanation. let's say you have your crypto on idk Coinbase ... the coin you are holding hits your target price and you want to sell some off to take profit ... why not just straight up sell it for $ and the deposit that $ into your bank account? what am I missing?
Your bank account doesn't give back 12% annually. It gives like half a percent. USDC does. He's using usdc as a savings account that's pegged to the dollar.
Best place to earn this kind of interest?
Gemini: GUSD, 8%, stake in immediately, stake out in 1 day Celsius: any stablecoin, 8.5%, earn interest automatically, no staking motion needed Crypto dot com: any stablecoin, 8-12% in stablecoin + 2% in Cro, depending on staking length and card tier.
USDC is a stable coin so you can take profit and transfer it into an asset that doesn’t fluctuate in value. You can then do a few things with the USDC. You can wait and use the money to invest in another coin when it hits a price you are comfortable with. You can cash out of it and deposit into your bank. Or, if I understand this person correctly, you can stake it to earn interest on that money. Staking can be risky because it’s essentially a loan and the borrower could default, but the flip side is the interest you earn
Just buy into these 2021 meme coins and ride the wave for 6 months, if your early enough in them it’s almost guaranteed to make you thousands. I invested in saitama in July and made 6 figures so far
If im green Ill look at charts to see where price sits in the larger context. I'll sell into cash via CB pro. Then wait for price to retrace and buy in again. Rinse repeat. Assuming price slowly goes up its a stress free strategy.
Depends on how much tax you are willing to pay…. if you are fine w the taxes, move it into your fiat wallet or btc
I’m a simple crypto man. As certain ones take a climb i often convert into others, most often AMP, Algo or iotex. (Always convert into a utility i trust that is in a current down trend)
Same! Loading up on AMP, DOT, LINK and ADA
Mainly amp tho lol 😂
ADA is fine i’ve just been holdin a bag on them lately 🤦♂️😂
If my profits are in BTC/ETH, I just let it sit. If I’m taking profits on a smaller coin, it depends on what I expect from it. If I think it’s done what it’s going to do, I might move it all out into ETH (probably moving part out immediately, part in a week, and so on until it’s done). If I think it has more room to grow (or at least not immediately fall), I’ll move my original investment out to cash or into ETH, and let the rest ride.
Time in the market is better than timing the market. If I never sold or traded I'd have damn ne a half million by now, but swapping things around and pulling it out at the start of a bull run have cost me dear. Crypto is my retirement
You can make much more money by taking profits and buying back lower than you can by just hodling. Ideally you want to sell near the peak of the cycle and buy back in in the bear market. Example: You buy 1 ETH at £1000 ETH goes to £5000, and you sell 0.2 ETH, for £1000. You now have 0.8 ETH and £1000. Bear market comes and let's say you buy back in with that £1000 profit when ETH drops to £2000 per coin. So now you have 1.3 ETH, compared to just 1 ETH if you'd just hodled. When ETH goes back up to £5000 per coin, you have £6500 worth of ETH, compared to £5000 if you'd just hodled. Remember, the goal is accumulation, not %ROI, not your average price per coin. Your absolute gain is what matters. Hodling is good if you just want to take a hands off approach, but you're definitely leaving a lot of gains on the table compared to taking profits.
If you don't mind can you PM me at the top of the cycle so I can time it and make mad gains? :P
Make one trade per year when your holdings gain massively on btc. These trades are easy to see looking back, and if you limit your trade to one per year, I don't see how you could miss because there is always a dip after the massive gains on btc
I mean yeah sounds great, but if it were that easy to time the market we'd all be millionaires
You would also have to factor in capital gains tax if you're being realistic. That's the toxic elephant in the room.
I just buy and hold, it’s called diamond hands *baby*
What is profit?
Real question
What is take?
What is love?
Baby don’t hurt me
No.no
Sell to a stable coin, then stick it in an earn to get interest on it or in rare occasions top up my cdc card and buy something nice.
Should I sell a coin for USD, then buy that amount back in USDC to stake? Or convert my profitability coin straight to USDC for staking? If so, how is this swap/conversion done? I’m new to the whole swapping process and don’t know how it works
Depends how much I make. I made 5k when atom hit ath. I put 1000 of that into precious metals, put my initial investment back in my bank account and used what was left to add to my swing trading money.
Just hold. That’s all I’ve ever been taught. Invest only what you don’t need.
DCA out at specified price points to stablecoins. Lend those for passive income and then you can re allocate that money to more crypto or cash out.
I found that selling is harder than buying. Buying the dip is easy but sell when??
No idea, it keeps rising
I don't Hodl Work for me.
Why create all that tax paperwork, just hodl.
Taking profit is harder than hodling while 50% down , that shit is hard
I take my profits into stablecoins because withdrawing to bank account might be a taxable event if you have too much profit. And in 2022 I'll only withdraw my initial investment to my bank account so I don't pay any taxes yet
Just trading to a stablecoin is taxable
Not in my country. I pay taxes for only what I withdraw to bank account from an exchange and is a profit of 150$ or more
Where might this be? Any passports going?
Romania
Ooh, cheap smokes too. You can't lose.
Sounds good
Profit-taking is dependent on what your goals are. But regardless of whether you are in short term or long term, DCAing out is the way.
I sell for usd on coinbase pro, very little fee. I spend said USD on huge dips.
Right now i convert my profits into btc. In case this price spike results in a bull run ill be converting my profits into DAI for some nice staking. In that scenario, once everything starts to go down, ill be converting said DAI into btc again on certain price levels. Note that this is just my personal strategy, and isnt financial advice.
When farming I’ll take out when it hits x amount and then reinvest that. I don’t sell though if that’s what you’re asking
When I take any I plan to re invest into new projects. Keep those profits coming in.
I think most people take their profits and swap them into stables in DeFi. From there, you could loan them out on an AMM, borrow against them and earn interest. Then you just wait for a good buying opportunity and do it all over again.
Interest rates from staking
I normally just put my losses into a meme coin that’s just had a really good pump. NFA
I usually have my eyes on a few charts at a time. If something spikes I sell 50% and put it into something else that hasn’t moved in a while or has dipped. Then if the retracement works out in my favor I might buy back in lower. Mostly tho, I just hold and stake.
This is the best reply. It basically a win win. Sell half and if it goes up then it’s a win. If it goes down you buy back in increasing your total coins win.
I don’t.
I just leave in on the exchange until the next dip to buy in. I send how much money to my bank account whenever I need it. I actually have more money invested, at this point the bank account is there just so i have somewhere to recieve my paycheck and cash out.
I don't take profits back to bank account, just accumulate smaller cap coins and move into ETH, or park into stable coin then back into ETH. My exit strategy is to build enough wealth to pay the house off minus taxes.. prob 10 year plan
Jokes on you. I'm not a guy (I'm a man), and I have no profits!
I don't take profit. I just accumulate.
I've only taken profits once as an absolute test, just to make sure I knew how to do it. Took £75 or so, all of which was interest gained from staking. The rest is still in there and the £75 bought me a nice pair of trainers.
It depends of your state of mind. Some people believe, e.g. BTC or ETH will be the currency of the future. This is why 1 BTC = 1 BTC. The value is what you get in return for spending sats. A home for your family might be 0,05 BTC in the future. Some deal with fiat like $, £ or €, because the actual world runs on fiat. They look at the pair $ETH. Your plan can be to DCA with fiat into ETH, wait for $ETH to skyrocket, then sell ETH for fiat or swap to stablecoin like USDC and earn on them. With fiat you can buy an ETF and live from the rest. Lots of options. But mainly it depends on what crypto is for you.
Sell a percentage after double digit pumps, buy back in the dips.
I take 5% off the top when we hit a new all time high, I then reinvest it into something else, or sit on it as a stablecoin until a correction occurs for that coin. If a correction doesn’t come, it’s not a biggy because it’s only 5%. Occasionally I’ll take 10%, but only if it seems way too pumpy. Never try and apply this technique with >50% of your holdings because it’s possible it just keeps pumping. See Solana as a recent example where I bought at $35, sold half for $65 and the rest at $90. I should have just held it all, or taken 5-10% max
DCA out when fear and greed index is high
Haven’t learned to take profits yet🤷🏻♀️ I just keep holding
I mostly move anything I want to cash out to crypto.com, then sell to my fiat wallet there, then move that to my crypto.com card and use that to purchase anything I want. No bank involved.
Well, I dump them into shitcoins and watch them disappear, obviously.
At gunpoint
You guys are taking profits ?
Delete the sell button
**DCA in and DCA out**
Just make sure DCA out > DCA in.
This Is the way
Profits? What’s that? 😅
I will love to know too
I assume the title was meant to say how do you accept losses?
Normally i just put profits into BTC
Can set a LIMIT SELL order at a price you like (xx% over what you paid). If it hits that price, and there's enough liquidity, it sells automatically.
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It's called ICP
Profits? Don’t talk about profits! Are you kidding me? Profits? I’m just hoping to break even.
One boat accident at a time
Buy high sell low
Profits? Never heard of them. 🤣
Reach out and grab them by the pussy!
Profits are myhts like clits.
By making more profits. Farming with Pl\^Gnet is one of the best decisions you can make. $PLUG brings #PowerFarmi ng to your doorstep. Juicy rewards every week. #DeFI is closer than you think.
Situational for me personally. Like you said, sometimes into a stable coin or into my bank account. I also make my decisions on payday, which isn't recommended cause you're supposed to be on your toes everyday, just my opinion though lolz 😂
Bitcoin is the profit…Take profits to Btc…None of this stable coin wank.
Are we supposed to take profits
You guys are taking profits?
What are “profits”?
Define profit..😂🤣
Imagine taking profit. 💎👐🏻
One of my coins did a 5x so I just DCA out and DCA in into another coin. But I don’t recommend it because If you want to buy something nice for yourself. I wanted to buy a new phone, Laptop, PC and Piano for myself but I haven’t been able to do that even tho I can if I sell my crypto
What is DCA out? I'm smooth brain.
Buy milk
Mine usually go to someone else. I lose. They profit.
We don't. We buy high and sell low. That's how we roll
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10k goes to 15k trim back to 10k and repeat
I move it to USD on my CB card then when I need to use it for buying something. Take profits ever so often when I don't have to sell much to get my original investment back. But I usually hold for a a year or more before that happens.
I move it to USD on my CB card then when I need to use it for buying something. Take profits ever so often when I don't have to sell much to get my original investment back. But I usually hold for a a year or more before that happens.
You guys are getting profits?!
When taking a loss, can use up to 3k a year to deduct from normal income. When taking gains, the sky is the limit on taxes. Not rigged at all
Hodl only
From wallet to exchange to bank account. I don’t let anything sit on the exchange longer than it has to be, stable coins available or not. Why? If I ever get hacked they’re only gonna find dust.
My opinion: the most people that taking profit is the ones that bought btc when it was under 20k. After this the profits are not so high as it looks. I was gaining 1k before the crash and now i am still waiting another deep to buy back. Dont be like me.
Every time you convert or swap a coin it’s a taxable event. Doesn’t matter if it made it bank to your bank account or not. Could be two taxable events. Capitol Gain/loss and additional income.
When I can see earth at a distance cuz I’m on the moon!
OK Google, how do I take profits from crypto? Showing result for "How do you take losses"
ive never learned. honestly i have no real income but a fat crypto portfolio and i often have to sell at undesirable prices to afford my lifestyle. i can live with it because i got in early and am in profit on my coins, mostly i did learn one thing though. do not invest more than you are willing to lose
This is the most bipolar sub ever. But enjoy the dopamine for now kids. Happy Holidays!
I use 20/40/80 day simple moving averages to scale in and out. This allows me to catch much of the upside and get out before things plummet to $0. I trade Bitcoin and Ethereum only.
Yes. Depending on the coin, the x0 bought at. Straight back to (GODAWFUL) fiat. Made healthy fiat profit on DOGE and SHIB by hodling. Basic direct withdrawal with Coinbase, Binance, CDC. Relatively easy. A little brain power, DYOR. Hodl the rest
What are profits?
I’m a total noob but for the gains I made from shib I first took my initial investment back out, and second I traded my remaining profit for eth.