Best crypto selling method on exchanges

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Quote from: uneng on January 10, 2023, 07:24:57 PM

...So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

This will depend on the state of the market at the time of the transaction. If the price starts to fall and you want to sell your coins at that moment, then you have no choice but to sell them at the current price. In all other cases, it is necessary to open a limit order, and in this case the exchange commission will be lower.

cabron

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Upon buying is where many traders will set thier lowest price to get the best deal so it's like building up the bottom wall.

When a person sells his coins, he most probably going to choose the right time to sell which he knows his target price or the closest to it at least, and sell instantly. I would do the same and if I change my mind to buy again, I will wait for the price to dump.

Findingnemo

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I will go for the instant trading at most of the times because I don't feel comfortable with having my money in the hands of exchange for a too long but before depositing the money I will make sure what is the price trading on the particular exchange where I am going to deposit irrespective of what coin tracking websites shows to as and also I note about the trading volume around my desired selling price so I won't regret later for the transaction period.

gunhell16

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What I do is simple, when I work hard to trade every day that comes to me, all I do is set the time frame every 30 mins or 1hr, when I see that I have a profit of 10% or more at that time I will immediately sell the coins.

And I set the order to buy at a low value that I think might go down, at the same time interval of every 30 mins. That's what I do and it's simple to do honestly, but it still depends on the movement of its value in the market because it's volatile.

LUCKMCFLY

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Quote from: AbuBhakar on January 13, 2023, 11:56:19 AM

Quote from: Nrcewker on January 13, 2023, 11:50:39 AM

Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Everything depends on the coin that we are dealing with. If you have a coin which is not so popular, and you still want to yield more profits from it, above the market price, then definitely no one will buy it at high price. But now if you talk about coins like Bitcoins, then definitely there are very high chances that price will fluctuate, and you have chance to sell at comparatively high price then the market. But yes everything depends on luck , marketcap and trading volume. Then sell accordingly.

In addition to this. The orderbook liquidity is the main factor on ow to decide what’s the best order method best for the specific coin. A thin orderbook usually has a huge price spread and using a market order here will give you a huge loss when buying and selling since your average price will be the cheapest/expensive that is jot profitable on trading. Limit order is perfect on tokens with huge price spread to gain profit from those traders that has no patience.

Popular coin like Bitcoin usually have a thick orderbook with small price spread which is why market order is the best on this type of coin if you want to enter a position.

Well that is a great way of analyzing, however I am guided by various exchanges, I do not know if you know that Bitfinex is the exchange when in 2018 all the investors entered with many shorts, causing the price to drop so much that they could have created chaos overall, however this did not happen because everyone knew that the economy was going to recover, however we as good believers in the market know well that the next ATHJ will be very large, we have already had experience of this, and many things may have to happen, but seeing only one exchange is not good, because the volume is not consolidated, it is not the same to enter an exchange that does not have much volume than another that does.

The Cryptovator

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Every trader has their own strategy. So they make the decision to sell their coins. If I trade for a short period of time, I place an order based on my expectations. If I hold the coin and somehow pump it, I will sell it at the current price. Because I believe this was my expected price and I should sell now. I lost several times by placing orders. The price has not yet reached my order and dump price. If I sold at the current price, I would be profitable. So, depending on the circumstances, time will tell you what you should do. It is impossible to predict in advance.

el kaka22

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I do prefer to sell it instantly because I rarely sell and when I do that means I need it right away. Plus, I am a long term investor, which means that if I am going to sell my coins, it is already at a very vastly different price point and that means that small difference between selling instantly on market price versus selling on an order is not that huge compared to the huge difference between when I bought and when I sell.

My ideal situation would be selling when the price hits over 100k, so lets assume that it did and I am going to sell, the price is something like 103.2k and I sell at 103.1k because of market sell, do you think it would matter at all?

AbuBhakar

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Quote from: Nrcewker on January 13, 2023, 11:50:39 AM

Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Everything depends on the coin that we are dealing with. If you have a coin which is not so popular, and you still want to yield more profits from it, above the market price, then definitely no one will buy it at high price. But now if you talk about coins like Bitcoins, then definitely there are very high chances that price will fluctuate, and you have chance to sell at comparatively high price then the market. But yes everything depends on luck , marketcap and trading volume. Then sell accordingly.

In addition to this. The orderbook liquidity is the main factor on ow to decide what’s the best order method best for the specific coin. A thin orderbook usually has a huge price spread and using a market order here will give you a huge loss when buying and selling since your average price will be the cheapest/expensive that is jot profitable on trading. Limit order is perfect on tokens with huge price spread to gain profit from those traders that has no patience.

Popular coin like Bitcoin usually have a thick orderbook with small price spread which is why market order is the best on this type of coin if you want to enter a position.

Nrcewker

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Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Everything depends on the coin that we are dealing with. If you have a coin which is not so popular, and you still want to yield more profits from it, above the market price, then definitely no one will buy it at high price. But now if you talk about coins like Bitcoins, then definitely there are very high chances that price will fluctuate, and you have chance to sell at comparatively high price then the market. But yes everything depends on luck , marketcap and trading volume. Then sell accordingly.

Adbitco

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This depends on the trader's choice to how importants the trade are to them, as for me i think the prices are likely controlled by bots that's why whenever you want to sell instantly the price falls below the initial price but after a while the price gets back above the previous. So what to do is that, if you wanna buy or sell, just place and order it would triggered and got filled after a somewhile instead of selling instant and losing your funds.

Beparanf

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Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Open order is really the best if you don’t need immediately the money that you are trading since it doesn’t charge a maker fee for your open trade while you can choose the best price for your asset. I only use this if I’m planning to accumulate a certain tokens and hold it for a long time such as Bitcoin.

Market order is what I used the most I usually trade when I need money to withdraw to fiat. I don’t have time to wait for a limit order to filled for just a dollar difference on my asset.

Choosing what’s best order type depends on the purpose of your trading.

Cookdata

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I don't take google too seriously when it comes to cryptocurrency deals, their values are mostly generated API from Coingecko, Coinmarketcap and other markets but what I hate about them the most is that the first two response google brings are usually the ones that paid for adverts and the other ones would now be displayed below, to avoid all this, I go straight to Coingecko, select the coin and look at the market that is favourable, No KYC and go straight to sell what I have to sell, there is no point in opening a trade that has much spread with the real price, there is no point in opening a trade that is above the current market price if I'm in need of fiats.

lalabotax

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Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Everyone has their own reasons why they sell instantly or through an order book. In this case, I think everyone might also do both, it will depend on the conditions when we sell it. If we feel in a hurry to sell it and the listed price is sufficient, then there is no problem selling instant. But when the price is still not right and we are not in a hurry to sell it, it will be better when we set the price at a certain rate.
And one more thing that makes a difference, sometimes the transaction fees between the instant market and the order market are different, sometimes the instant market has higher fees. However this will depend on the exchanges.

darewaller

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Quote from: GreatArkansas on January 11, 2023, 06:23:50 PM

Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Depends on your goal, if you have a specific price where you want to sell your coins then use the limit order, set the price where you want to trigger the order, and set also the selling price.
Or you can immediately sell your all your buy using market order it will be sold at the current price. For me, I always use market order when I am selling some of my coins if I needed the funds immediately.

As long as the set price is realistic (not that high enough) then it won't take long for some one to take it. I always do this at all times because I also lack patience. If all fails then I just choose on the pre-existing orders of other users but usually, we can't earn much from this one but those sellers are the ones who gains more.

Nowadays, we have been told to be careful on using an exchange so guys shouldn't store funds on an exchange longer as the issues about FTX is still fresh so maybe there is a tendency that a domino effect would happen just like on the past specifically after the collapse of terra coin's Luna and their stable coin UST.

noorman0

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Even on the spur of the moment though not really concerned with price, I prefer the spot market to at least find a bit of profit to cover the withdrwal fees. I don't know, it seems to have become a habit since the beginning as one of my local exchanges, market makers are charged zero fees than takers.

JeromeTash

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It depends on the scenario, but i prefer making limit order

Making a sell or buy order at market price can sometimes get your order executed at the price you are not seeing on the orderbook. It's even worse for coins with low liquidity or low trading volumes. I only do market orders if I am in a hurry to execute a trade.

xSkylarx

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It really depends on you if you want your money immediately or if you can wait and then position your price at the price you want. There are times when I really need that money, but not at that precise moment, so I usually place an order in the tens or twentys of some sort because it can really add up the value on it and still be fulfilled. But again we do have our own preferences some wants to sell it immediatly some can wait

libert19

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Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Opening order makes you susceptible to price fall as well, I'd rather just sell instantly at market prices unless the spread is too big or slippage is high.

GreatArkansas

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Quote from: uneng on January 10, 2023, 07:24:57 PM

So, what do you prefer, to sell your coins instantly for less or to open an order and profit a slight better margin, reaching the general market's prices rates?

Depends on your goal, if you have a specific price where you want to sell your coins then use the limit order, set the price where you want to trigger the order, and set also the selling price.
Or you can immediately sell your all your buy using market order it will be sold at the current price. For me, I always use market order when I am selling some of my coins if I needed the funds immediately.

yhiaali3

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Of course, I prefer selling with a better profit margin, I think everyone would like that, so I often place an order in the order book at the price I choose and see fit, because the market price is often not suitable.

But sometimes I am in a hurry, for example, there is another coin that I am interested in and I watch when its price drops and I do not have cash, so I sell immediately at the market price to get cash and buy the other coin at a low price.

Sometimes I also have to transfer to another platform or person or to dollars, in these cases also I use the market rate. I only sell the part I need and leave the rest to order.

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