When do you exchange Bitcoin?

[ceastem]

I noticed there are two types of bitcoin users

One that exchanges as soon as the prices go higher than they invested in and the ones that waits for their investments to reach the moon before they exchange it.

My brother and I are the best example for this. My brother has invested a lot in bitcoins but he never withdrew anything since last year. Me on the other hand always invest when it gets significantly lower price and exchanges my bitcoins to our local currency when it gets higher. Just like what happened in the last two months. My investment almost doubled due to the huge increase in bitcoin's price. I withdrew mine, but my brother keeps on holding his. He said he's waiting for the new ATH before he withdraws

I don't judge him for doing so, but I still like my way of doing things because I can taste my profits from my investments and I have no regrets (not yet) even if the price gets a little higher than when I withdrew it.

How about you guys? When do you exchange your bitcoins?

[lupandina]

Exactly same in my family my husband is a holder, which invested a lot and is waiting for insane price. I'm otherwise, selling it in small amounts regulary. There were situations, when husb was right, and when I was right... 

[yololife222]

Hey,No one in my family games and doesnt know what curency and btc even is, but i like to invest and exchange each time when its 3k lower or sell when its 3 or more k higher.

[concertrate]

I think it depends what people are doing it for. I buy regardless of price because of what I use it for. So different strokes for different folks. 

 

Also remember that for there to be a market there needs to be both kinds of people. If everyone did the same thing there wouldn't be a market lol

[ceastem]

1 hour ago, lupandina said:

Exactly same in my family my husband is a holder, which invested a lot and is waiting for insane price. I'm otherwise, selling it in small amounts regulary. There were situations, when husb was right, and when I was right... 

I am always right when we consider short span of time. If it involves a long time, he is usually right. Lol

1 hour ago, concertrate said:

I think it depends what people are doing it for. I buy regardless of price because of what I use it for. So different strokes for different folks. 

 

Also remember that for there to be a market there needs to be both kinds of people. If everyone did the same thing there wouldn't be a market lol

Yep, considering that there are different people here in the community, i would love to know just how many exactly are like me and like my brother, or like you even. Haha

It would help me make decisions and chance to change if i'm doing it all wrong  

[barbaris]

I exchange bitcoins as soon as they appear, because I don’t like to keep them incomprehensible and wait for the price increase. I prefer to have money at once, rather than wait for the future for me unknown.

[FotisNt]

I do exchange after getting a nice percentage of investments while I do prefer the short term ones. Most withdrawals out of Stake gets instantly cashed out to PayPal or Mastercard.

[nattekut]

I combine both ways. 

I am actively day trading professionally. then I do exactly the same as you I purchase low and I sell higher to make consistent profits. Crypto gives us a huge opportunity to make some nice profits because of their constant fluctuations. 

But on the other side I am also a huge believer that it just is a matter of some years before BTC and all other crypto will moon again. So I also have a long term portfolio with over 50 coins which I just keep for future all time highs. 

So both you and your brother are entirely right but I think you both should do a mix of the 2 options.

• Your brother needs to sell and buy on shorter time frames as well. In this way he increases his holdings and he will have more profits when crypto moons again
• You should also try to attempt to always keep a little part aside and just store in on a secure wallet. Otherwise you maybe will regret later that you sold everything. Cause I really believe that there will come a day that even 0.001BTC will have a 100$ value

[Aazzah]

I personaly dont exchance btc. I keep it majority of the time. I try and win with it and withdraw it for paypal and real cash etc... But In my family... Hardly anyone really knows about crypto such as... LTC, ETH , BTC, XRP and many more, I am like the most educated person in my family about crypto. i am forever learning and letting my family know what's going on with them  

[Babagucci]

A wise man once told me that's it's best to take profits as they come. There's no such thing as a bad profit.

When you invest in Bitcoin or any other currency, as the price rises it is ok to take the profit and then buy a new position. Instead a lot of investors make the mistake of holding there investment for too long so when the price crashes or falls they miss out on all that profit they could of had. 

[ScooterPi]

It would be so hard to say which way is best, as there is so much flux in the market valuation of cryptocurrency.  It has been a rollercoaster ride so far for sure, and no true way to know where it will go next.  Although, the same might be said for a lot of different stock investments also.  Holding a stock indefinitely is not always the best choice in a volatile market. 

I would say that no matter what method you choose for investing in crypto....the very most important thing is to be sure that you never do so with money that you can't afford to lose! Don't go divesting from a 401K or other solid investment to plunk that money into crypto.  Just not a solid wise choice to do so. 

As far as investing 'lose-able' money in crypto....have fun with it!

 

[wry]

You can never go broke by taking profits @ceastem so I would in no way fault your approach.

However, I also am a big believer in being a long term holder of Bitcoin.  I really do believe in the project and think there might be something to be said for a censor proof payment network based on a private deflationary currency, i.e. Bitcoin. 

So while I would encourage your brother to occasionally "take some off the table" maybe sell 10% of his holdings from time to time as the price runs up, I have a lot of sympathy for him too.

[ivaylo2000]

 

I exchange BTC for other currencies and the opposite every day.

Bitcoin price is not the first.

For me, it is more important how big the fees are.

If they are too big I exchange my Bitcoins for other currencies and I make my daily payments with them.

[cryptofly]

Weak hands.  That is a good description of what I don`t want to become.  I think that bitcoin is a long range investment, this because with only 10/11 years of age the way to run is a very long one.  Becoming a bitcoin holder has been very difficult to me, specially on those times I have to make extraordinary payments and I have to take some out from wallet to convert to fiat in order to pay those expenses.  As soon as I recover it I go back to convert that fiat in bitcoins and hold it as much time as I can.  I have it according to that famous legend about "only invest about you are afford to lose".  Difficult to me to do it.  This is me.  Good luck.

[bmg]

I only exchange through other players and through  luckygames.

I plan on exchanging through Dina bot soon.

 

[jualid]

I'm the type of buying when the price is on lower price and sell/exchange the coins when the price on top. So i guess i'm on both types lol. Buy at low prices and sell at high prices.

[Enzo]

I'm the only one in my family who hodl's crypto. But my friend always does what your brother does whilst I do what you do. Sell high buy low etc. Would be very cool to catch a new ATH but i don't pay enough attention to sell at a ATH anyway. I've thought about waiting for $25k and selling then but I could be waiting quite a while so i'm not entirely sure what to do.

[htetaungxx]

mostly i exchange that i enought to play with bitcoin. i didn't see and think bitcoin price increase or not. whatever when i want to play with bitcoin i change it. because i really like to play with btc.

[davinmark]

i think i am same with you. i never hold a bitcoin for a long time. as soon as the prices was rising i am going to sell it  , like yesterday i saw BTC prices is touching $13k again. i sell it without thinking first  

[artizykristy]

I am just like you who bought when the price was low and sold it when the price was high. because my initial goal of investing was to find a quick profit  

[Geisha]

I usually exchange bitcoins when I sell it on the cryptocurrency exchange. I am bringing a visa to my card and feeling myself the winner. I still try to mine bitcoin, but it seems time to invest my personal money in this business.
 

[BLXN]

as has been mentioned above, i exchange when i needs them if i were more financially prepared for life i might hoard them, and convert when necessary, and make small trades with other resources to cover those exchanges .. pretty easy when you have money, and aren't flying on a whim of dice. :I

[nhoyasim101]

as observe in many exchange, there's a lot of investors in short term other than long term, buying coins whilst on it's uptrend and selling when they have a profit on it, i sometimes go with that flow. taking profit as much as i can or even how little it is, but sometime's made mistake by buying coins and sudden fall, and it's will take's sometime to recover again. 

[Etude]

I exchange my Bitcoins to Fiat currency back and forth when I require it for whatever purpose whether is it to make purchases or to gamble. That is to say that I do not pay too much attention to the slight dip and raises in prices, only the really drastic changes I would take note of.

[ceastem]

Thanks guys for the feedbacks!

I'm happy to know there are a lot of people out there that does the same as me. I was wondering if I was doing it all wrong till today. Haha

Good luck to everyone in trading!