Why HODL? Why not cash out?

By tokyobitcoiner | Cryptokyo | 27 Apr 2021


If you are a regular visitor to PublishOx, I'm guessing you are collecting various tokens in various wallets and brokerages.

So what to do - cash out, just keep every token or strategically convert between tokens?

It's a difficult question, but I'd recommend the latter two.

Take bitcoin.

Anyone who got in early has a horror story of selling Bitcoin unnecessarily for a (now) ridiculous rate, so cashing out might not be the best option.

Similarly keeping Dogecoin and Litecoin and not selling now seems prescient.

But on the other hand in my Binance account I had a lot of small amounts of coins and I used the "convert small balances to BNB" option, and that worked out rather well.

One more point is that all of these airdrops and promotions - from a certain point of view the time / reward balance isn't good at all, on the other hand IF the coins appreciate, suddenly the balance shifts. There is also a possibility of a UNISWAP-style airdrop (anyone who interacted with the protocol could claim 400 UNI tokens) with the UNI tokens cashing out at say $8 might have seemed a good idea, but not with hindsight now (around $401).

Ampleforth seems to have been a similarly great play with its $FORTH governance token airdrop!

There are several options to exchange tokens on specific platforms; in no particular order:

Changelly

Change Now

Shapeshift

So what do other PublishOxers do?

Answer in the comments.

*** This is the six post in my Experiment to see how much I can accumulate in tips over one week, posting twice a day ***

Photo by Imelda on Unsplash

 

 

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tokyobitcoiner
tokyobitcoiner

www.tokyobitcoiner.com Tokyo Crypto Directory (Players and Places), monthly updated Tokyo events listing (blockchain, DeFi, fintech), random thoughts www.fivefreecryptos.tokyobitcoiner.com Curated list of working faucets!


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