Hey guys. Welcome to another post.

In this post, I'll be explaining exactly how I turn my trading profits into cold hard cash that I can actually spend.

You see, I plan on trading for a living once I get out of school. I'm already pretty good at it, and I have a sizeable account. It has allowed me to live a better than average life, at least here on campus.

But many people who equally trade for a living pay a substantial amount of fees when they wish to change their crypto to money.

Let's say Jack is a trader. He buys $1000 worth of XLM on Coinbase. The 2% fee on his purchase actually leaves him with $980. He hasn't even started trading yet, and he already has a loss. Nice.

He then decides that Coinbase's fees are way too high for his taste. He decides to send away his XLM to Binance.

Luckily, sending XLM out of Coinbase is free. But he will incur a transaction fee from the blockchain. This varies, and is usually tiny, but let's say it's 0.1XLM for the purpose of this post.

Now he has his XLM on Binance. He is a seasoned trader, so he makes the big bucks, and by the end of a year, he has tripled his account to $3000. Nice.

Now, he wishes to cash out his earnings. So he sends his XLM over to Coinbase, and incurs Binance's wonderfully placed 0.01XLM fee. 

He then sells his XLM at a 4% fee, because he can't wait a few days for a bank transfer.

All in all, Jack is still in profit because of his trading profit. If he had deposited $1000 and decided that this crypto thing wasn't for him, he would have withdrawn $960 at the end of the whole process.

But the way I do my won withdrawals, j wouldn't withdraw such a low amount. My amount would probably be $990 or even $992 if I'm lucky. Here's how I'll do it.

So I'll buy from Coinbase because I have no choice. Then I'll transfer it to Binance. I can't escape those fees.

Then when I wish to withdraw my fiat, I would trade the BTC/XLM pair first to get my XLM into BTC.

Obviously I won't be withdrawing BTC, because that one's withdrawal fee is way too high.

But after getting BTC, I now have the power to trade over 2000 other pairs.

Now, I will convert my BTC to something with a low withdrawal fee like MANA by trading the MANA/BTC pair. I would also trade it for a profit to cover my maker and taker fees.

Once I have my MANA and a little profit from trading it, I would proceed to send my MANA to my Trust wallet. I would wait for the network to not be congested, so that my fees aren't high. If I can't wait, I would trade my MANA a little bit more to get some more profits.

Once I can send my MANA to my Trust wallet, I would use the DEX there to change my MANA to ETH.

I would then send my ETH over to my Coinbase, again waiting for the network to be decongested.

Once I get my ETH over to Coinbase, I would apply for a bank transfer to limit my fees.

Overall, all my fees were paid for by my profits, and since I can wait for my money to show up, I basically lost nothing in the whole procedure.

If I were impatient and wanted my money instantly, I would pay the 4% credit card fee, but my profits would be able to cover for some of it.

This is possibly the most efficient way to do this.

But efficient also means longer. It would take much longer than usual if you used this method.

How do you currently change your crypto into fiat? Let me know down below!