Sell Crypto

Bitcoin Pump 2021 πŸš€ How To Take Profits During The Bull Run


Bitcoin is pumping like crazy at the beginning of the year. It has just smashed the $30k resistance.

Now the question is, what are you going to do: Are you going to sell some of it to make a profit or will you keep on HODLing?

If you decide to keep HODLing your crypto then you don`t have to do anything. Just keep in mind that you haven`t made any profit yet. You are realizing your profits only when you cash out!

The ideal point of selling would be the top but we have to face it and deal with it: You will most certainly not hit the top when you decide to sell your crypto. That`s the reality. You have to accept the fact that you nearly always going to miss the top and sell your cryptocurrencies either too early or too late.

That`s why I believe that the real money is always made somewhere between the bottom and the top. In the end, the important thing is that you are making a profit.

Cash Out Strategy

There are different selling strategies. In the end, it is totally up to you to figure out and decide what selling strategy works out the best for your crypto investments.

One possibility is to sell certain cryptos from your portfolio all at once but I believe that in most cases other selling strategies may be much smarter. However, it is totally fine to say I am going to sell all when it has reached a 10x, for example.

One alternative way of selling is taking out your initial investment. For example, you`ve bought some $ETH for a hundred dollars. Now the price has doubled and your investment in $ETH is now worth $200. By selling half of your $ETH, you are simply taking out your initial investment, what`s left in your bag is a worry-free investment.

Another smart alternative is to constantly sell a fraction of your crypto investment each time the price goes up.

How To Cash Out And Secure Your Gains

The final point that you have to think about is how you want to secure your gains. There are different ways to do it and again, you have to figure out what works best for you. Of course, you can also combine these different options. So what are you going to sell your crypto into? Of course, only if you decide to sell some of it to make a profit. πŸ€“

No. 1 Stablecoins

One smart option to secure your gains is to sell your crypto (or parts of it) into stablecoins. Now you can use these stablecoins to earn interest on leading platforms like Compound or BlockFi.

In this way, you can make even more profits on the profits that you have already made. 😎

No. 2 Gold, Silver, And Crypto-Backed Gold Tokens

An interesting option is to sell your crypto into gold or silver. There are some websites like jmbullion.comΒ that allow you to buy precious metals like gold and silver with your crypto. It`s actually a great way to collect your gains as you get the physical stuff delivered directly to your house. I think that`s pretty cool.Β 

An alternative to physical gold that is worth to be considered are crypto-backed gold tokens like Paxos Gold or Tether Gold.

bitrefill

No. 3 Bitrefill

Bitrefill is a service that lets you buy and reload gift cards for hundreds of retailers in many different countries. The gift cards can be purchased by using Bitcoin, Litecoin, Ethereum, and other cryptocurrencies worldwide. The Bitcoin and Lightning Network technology allows Bitrefill to provide a safe and private user experience with fast digital delivery. You only need to provide an email address to receive a receipt, voucher codes if applicable, and customer service.

In this way, you can spend your crypto with privacy and live on cryptocurrency more easily. 😎

Using Bitrefill for cashing out your crypto has some big advantages. The first big advantage is that you don`t have to do any KYC on Bitrefill. This allows you to spent your crypto with privacy.

The next big advantage of using Bitrefill is that you don`t have to pay any fees when you want to cash out some of your cryptos. It gets even better because you`ll get some Satoshis as cashback every time you purchase a gift card. You will receive at least 1% cashback in Bitcoin and in some promotional cases, you can get even more cashback like 6% when you purchase a Nike gift card.

Another cool thing about Bitrefill is that you can really use it worldwide and not just in certain regions. So you can buy gift cards for a bunch of different countries. Just make sure that you have chosen the right country when doing a purchase on Bitrefill.

I have to admit to I am really satisfied with Bitrefill. The process is super easy and convenient. Finally, I am able to avoid those nasty fees when I need to cash out some of my cryptos.

No. 4 Bank Account

Selling your crypto on an exchange and cashing out to your bank is also a possibility. If you ask me, this is the worst option. Why? You have to pay a bunch of fees for selling crypto and it is zero anonymous.Β 

So ask yourself why you need the money in your bank account. If you have zero money in your bank account, it makes sense to cash out to your bank account.Β 

If you simply want to have some money in your bank account so that you can spend it on Amazon or somewhere else on the Internet, then it makes absolutely no sense. In this case, it would be smarter to use Bitrefill because you don`t have to pay any of those fees when you want to cash out some of your cryptos and you even get some Satoshis as cashback on top.

No. 5 Bitcoin

Last but not least Bitcoin is also an option if you want to cash out your altcoins and not your Bitcoin.

You know some say that altcoins were made to steal your Bitcoin. I can totally understand this point of view but, however, I think differently. I think that it also works the other way around if you are smart. If you are smart then you can also make Bitcoin with your altcoins. This is actually what lots of smart investors are doing. They invest in altcoins to get more Bitcoin.

If you decide to take profit from your Bitcoin holdings the please refer to option number 1 to 4. πŸ˜‰

My Final Words

No one can tell you when the best time to sell your crypto is. You alone have to make that decision and no one else. It`s important that you find your own unique selling strategy, the one that works the best for you.

At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of the most important question when it comes to investing in altcoins: When is the best time to sell your altcoins and collect the gains? My intention is not to replace your own research. I may look smart on my profile pic but I am not your financial sensei. πŸ€“Β Β 

I hope I could provide you with some interesting and useful information so that you can figure out your personal selling strategy.

What are you going to do in this bull run: Are you going to sell and take some profit are do you keep on HODLing?

Thank you guys as always for reading, liking, following, and tipping πŸ‘

If you like, you can also follow me onΒ TwitterΒ and also on noise.cashΒ πŸ˜‰

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