Convert tokens to prominent currencies than holding them forever

BitcoinPanther

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Quote from: libert19 on May 13, 2021, 12:47:20 AM

If your token is 30c a piece at $400 eth price then convert that to ether asap. Ether has more chance to rise in future than your random shit coin. Ok, it might not go dead but it would stay at same usd price or few x in usd while multiple times low in ethereum denomination because ether has rose a lot.

If that makes sense?

Well if it is a shitcoin then you make sense but if the project is also a promising one but just starting then it doesn't. Ether had grown so much that the potential growth of it in terms of multiplier became smaller. With the same capitalization, if the cheaper coin has really potential and just starting then profit wise, it can give us more profit than ETH once its project are established. Ether works that way and if during those times (when ETH were just starting) Ether holder didn't keep ether and changed to prominent coins during those time (Litecoin, Bitcoin) then they won't enjoy the current price ETH gives.

darewaller

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Quote from: libert19 on May 13, 2021, 12:47:20 AM

If your token is 30c a piece at $400 eth price then convert that to ether asap. Ether has more chance to rise in future than your random shit coin. Ok, it might not go dead but it would stay at same usd price or few x in usd while multiple times low in ethereum denomination because ether has rose a lot.

If that makes sense?

Yeah you're right, most of my investment is in prominent coins and not really some low coins that nobody knows about. I don't just jump into any coin that I see, I always make sure to take my time before investing in any coin or project at all, because it's really important to make that decision. Then most of these low coins are not worth it at the end, because they mostly end up going nowhere at all, so I don't really like them.

And one thing that can stop some people from swapping is when they check the fees they will encounter when going through the process of swapping those coins, they get discouraged and just decide to hold it till it increases in value. That's why people to be having those thoughts first before they start investing in any coin at all.

Argoo

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Quote from: libert19 on May 13, 2021, 12:47:20 AM

If your token is 30c a piece at $400 eth price then convert that to ether asap. Ether has more chance to rise in future than your random shit coin. Ok, it might not go dead but it would stay at same usd price or few x in usd while multiple times low in ethereum denomination because ether has rose a lot.

If that makes sense?

I agree that now is a good way to save and multiply our profits. If the project is not much encouraging in terms of growth, then it is better to exchange it to the Ethereum to exchange it. This coin should still grow well in price, despite the already decent present price growth.
Those who have experience in the cryptocurrency market since 2017 know that the tokens not sold at that time almost all then fell in price by 90-95 percent and only some managed to rise. Therefore, we must leave the most promising tokens, the remaining funds are better to invest in top coins. True, the situation in the cryptocurrency market continues to change, and the fact that previously was relevant, with time it can lose its relevance. It also needs to be considered.

Viscore

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There is no way to make a good profit holding shitcoins and it was a waste of time waiting for nothing. If that only be the possible ends, may we have to sell it and switch to the more potential coins. Since ETH is too high and the fees are not really favorable to us, BNB is the best coin to stop by and hold.
And we have to decide and start it now before we miss Bullrun that might have something to be done someday.

sujonali1819

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Yeah, The strategy of converting token to other suitable currencies is pretty good if you can do it in right time. But why eth only? Is not it Pretty high already?

But yeah still some project with good potential did not meet their ATH yet. Should be catch them before making any huge move. Eth already gone highs and maybe I think it can go 5k. (But who knows it maybe go more). But Eth is the very suitable if you want to convert your shit coin and hold the dollar in ETH.

Evgenklm

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I think it's better to buy a coin that costs several ¢ and wait for, say, $ 1 if this project is really perspectival and you are confident in it, than to invest a small amount in a coin that costs several thousand $... Cool

leea-1334

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I would definitely agree here. But in fact I used to do this with BTC only, converting everything through their satoshi price. That is,,, if you believe in Bitcoin in the first place but I know a lot of alt traders also swear to convert to USDT or some other stablecoin thanks to BTC's own volatility.

ETH could be a really good option for this year too though.

KaliLinux

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Quote from: logfiles on May 13, 2021, 02:28:04 AM

A much more effective way is selling off the tokens for stable coins especially when the bear market starts because in the bear market, everything drops in value except stable coins.

Imagine you made from nice profit of $2,000 from a shitcoin from your initial investment of $200. You sell it off right now and get 0.5 ETH. When ETH price drops back to $400 per ETH which is very possible in a bear market. You will be back at $200 for you 0.5 ETH which is no work done.

You are right. I have always believed that stable coins are created for this singular purpose, save your profits. This is the best way to retain your profits from every crypto including Eth and Bitcoin since we understand that the value of stablecoins dont change as other cryptos.

Nalbo

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The problem with conversion in and out is you never know the high and low point of a coin price. It's a very difficult task to predict the time to get in and get out of a coin. The general idea is buy when it's rising and sell when it's falling. You can't wait for it to fall and sell so you need to have orders for higher sell and a stop loss if you are actively trading a token you are not quite sure about.

pakhitheboss

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That is a really good idea but, why only Ethereum there are other coins that also have a chance to last long. For example, take the Binance Coin, which is backed by Binance exchange and it can also last longer unless something goes really wrong with its exchange. The only backside of BNB is that it is being promoted by a centralized exchange with a lot of centralized attributes.

ashmodeus

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i am totally knew that thing , i am a lot of shit tokens on my wallet , the reason always same , the gas for it its more than total i get , i've participating in many many airdrop since last year , and mostly just under 10 buck , the another reason is no one cex exchange accepted shit token i have Grin

electronicash

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Quote from: TheUltraElite on May 13, 2021, 01:18:48 AM

Yeah but currently the Ethereum price is pretty high, compared to the 380$/ETH we used to see two years back or so.

The dollar cost average of shitcoins being sold may have also dropped. See when ETH rises, and if the shitcoin's price rises at the same time, the ratio remains similar and you probably would not be making much profit even at this price. Of course holding a shitcoin makes no sense, but tell that to a altcoin shill, you would never be able to change their stance.

I often tell users to sell shitcoins at loss because they have no future development occurring and they might be a die hard fan, but that coin will end up abandoned.

Another method is to sell the shitcoin at USDT value and use USDT to buy ETH if ETH drops or BTC if BTC drops.

it dips to $80 actually that should have been the greatest opportunity for someone who sees the potential to climb this high. today there are already ETH ETF on the Canadian market which is pretty much an indicator of its bullish time. speculations on youtube about eth is more ridiculous but they do have some point at least they laid reasons why they believe so. $100K for ETH but ye why not.

logfiles

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A much more effective way is selling off the tokens for stable coins especially when the bear market starts because in the bear market, everything drops in value except stable coins.

Imagine you made from nice profit of $2,000 from a shitcoin from your initial investment of $200. You sell it off right now and get 0.5 ETH. When ETH price drops back to $400 per ETH which is very possible in a bear market. You will be back at $200 for you 0.5 ETH which is no work done.

TheUltraElite

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So anyway, I applied as a merit source :)

Yeah but currently the Ethereum price is pretty high, compared to the 380$/ETH we used to see two years back or so.

The dollar cost average of shitcoins being sold may have also dropped. See when ETH rises, and if the shitcoin's price rises at the same time, the ratio remains similar and you probably would not be making much profit even at this price. Of course holding a shitcoin makes no sense, but tell that to a altcoin shill, you would never be able to change their stance.

I often tell users to sell shitcoins at loss because they have no future development occurring and they might be a die hard fan, but that coin will end up abandoned.

Another method is to sell the shitcoin at USDT value and use USDT to buy ETH if ETH drops or BTC if BTC drops.

libert19

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If your token is 30c a piece at $400 eth price then convert that to ether asap. Ether has more chance to rise in future than your random shit coin. Ok, it might not go dead but it would stay at same usd price or few x in usd while multiple times low in ethereum denomination because ether has rose a lot.

If that makes sense?

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