Dump tactics - where to protect your crypot's when during dump?

Lanatsa

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

2.
What is the best easy way to convert crypto for gold or silver?

Thanks guys!

1. Convert to stable coins USDT, USDC, TUSD there are various numbers of stable coins in the market which you can make use off in the times where the market tends to dump to
protect your profit then this step is quite common.

2. Do you mean that actual gold or silver? When it comes to value then hands down to gold but if I were you then better stick with
those funds you do had in stable coin and finding the best opportunity to buy on when the market price is low.

doctor877

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Stable coin is simply the way to prevent the dump of any coin you are holding to affect you. Simply swap it for Gold stable coin on their platform or you can convert to USDT on any reputable exchange.

darewaller

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Quote from: CryptopreneurBrainboss on December 13, 2020, 01:48:21 AM

If you understand the concept of decentralized then you'll know chosing centralized platform over dex is just stupidity. The idea behind crypto was to put you the user in charge of your finance. Exchange like binance contract that thought. Exchange are weak when security are concerned, irrespective of how well secure they claim their platforms are surfer they're hosted on a centralized server, it becomes useless.

Just looking at the reputation of the exchange you might think they have everything covered until they get exploited and millions get stolen from the exchange, then you'll begin seeing how valuable they were considering the unreasonable excuse they will begin givjnyti deny users from accessing their funds.

Never use an exchange as a place to store or hide your coins, you can safely store them on hardware devices and when the need to sell comes, moved them back on exchange and sell. The disadvantages could be some time lost and small extra charges to cover transaction fees but it'll be better you loss that then all your funds due to hack.

First of all it is not stupidity and there is no need for that kind of talk about such a simple topic. Secondly decentralized is blockchain, not where your money is, people are mistaking decentralized in many ways, they think every single thing needs to be decentralized but that is not what it is all about, decentralized is the blockchain system, everything else can be centralized, you are also trading and billions of dollars worth of crypto is traded on centralized exchanges, where is decentralization there?

I just wanted to say that unless you have huge sums of crypto, there is no need to be afraid of where to keep your money, if you want to hold it on binance you can do that because there is a huuuuge chance that they will protect your money better than you can.

South Park

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Quote from: milewilda on December 15, 2020, 03:30:26 PM

Quote from: South Park on December 15, 2020, 01:17:10 PM

When you know that the coin in which you have invested is going to be dumped it doesn't matter if you sell for a loss or for a profit you sell because you're protecting your capital, if you do not want to be the person that ends up holding the bag and have a bunch of useless coins that you can never sell, that kind of attitude is what gets people in trouble, once you recognize that a dump is about to happen or is happening already you get out of the market regardless of anything that had happened before.

You cant really blame out people on not to release off those bags yet they do have that kind of believe that the price will eventually recover later on.This is the hardest part on making a decision
on where you do see that the market is gradually crashing or dumping and your coins are heavily affected with it and you did just mind off on making a decision neither you would
sell on loss or would just simply hold and trying to break even or make profits in the future.Well, these things wont always turn out to be on your side and it all varies
or depends on which coin you are holding and if it does have that potential.When it comes on protecting your capital on a dump or simply do mind off even on the slightest movement
then stablecoins will be a common option.

You have a point, however since we are talking about dumps specifically and not about coins like bitcoin and etheruem that could go down in price but over the long term they will recover but about coins that are bad and have a low volume to begin with, as such anyone that is willing to gamble in those coins should be aware from the very beginning that holding those coins is not an option, at some point you will want to get rid of them since becoming a bag holder is by far the worst possible option for an investor since even recovering a small portion of your investment is better than that fate.

jrrsparkles

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1. Off course converting your cryptos into a stable coin is more cost effective than converting it into fiat then converting back the fiat into cryptos but its not recommended for long term hold.

2. There gold pegged stable coins which are actually legit but most of them are scam projects, so you have choice to invest on them and again which is less expensive than buying actual gold or silver.

FireBallex

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

Warning - i'm a beginner.

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

2.
What is the best easy way to convert crypto for gold or silver?

Thanks guys!

Volatility is what we want to avoid when bitcoin start dumping, if you aren't ready to hold your bitcoin for another green season it's better to swap or switch your bitcoin to USDT or DAI, one is centralized stable coin and the other is decentralized stable coin, this will pegged your asset to USD @ a fixed price.

milewilda

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Quote from: South Park on December 15, 2020, 01:17:10 PM

Quote from: Lorokan on December 12, 2020, 08:14:33 AM

Another quick solution is to sell to usdt immediately; but will it be at loss or a profit? these are factors you need to consider.

When you know that the coin in which you have invested is going to be dumped it doesn't matter if you sell for a loss or for a profit you sell because you're protecting your capital, if you do not want to be the person that ends up holding the bag and have a bunch of useless coins that you can never sell, that kind of attitude is what gets people in trouble, once you recognize that a dump is about to happen or is happening already you get out of the market regardless of anything that had happened before.

You cant really blame out people on not to release off those bags yet they do have that kind of believe that the price will eventually recover later on.This is the hardest part on making a decision
on where you do see that the market is gradually crashing or dumping and your coins are heavily affected with it and you did just mind off on making a decision neither you would
sell on loss or would just simply hold and trying to break even or make profits in the future.Well, these things wont always turn out to be on your side and it all varies
or depends on which coin you are holding and if it does have that potential.When it comes on protecting your capital on a dump or simply do mind off even on the slightest movement
then stablecoins will be a common option.

South Park

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Quote from: Lorokan on December 12, 2020, 08:14:33 AM

Another quick solution is to sell to usdt immediately; but will it be at loss or a profit? these are factors you need to consider.

When you know that the coin in which you have invested is going to be dumped it doesn't matter if you sell for a loss or for a profit you sell because you're protecting your capital, if you do not want to be the person that ends up holding the bag and have a bunch of useless coins that you can never sell, that kind of attitude is what gets people in trouble, once you recognize that a dump is about to happen or is happening already you get out of the market regardless of anything that had happened before.

blckhawk

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

Warning - i'm a beginner.

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

2.
What is the best easy way to convert crypto for gold or silver?

Thanks guys!

Yeah, I think converting your Bitcoins into a stable coin could save its value when the bear comes and that is only the way I think about how I can protect my assets. I usually liquidate my Bitcoin on USDT when this time comes.
I think most of the traders like to convert their BTC on stable coins but others put it into some altcoins that could bring more profit to them. Once it plunges you could use it to procure more Bitcoin, it's just a cycle you buy at low and sell at high.

MCobian

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I keep my funds in stablecoins, because stablecoins like USDT have proven to be effective in protecting my funds from volatile markets.
When the price crypto dump instantly converts the coins we have into stablecoins, that's the best dump tactic I know of. After that,
if the coin price has reached a low enough price, we can start buying back the coins.

CryptopreneurBrainboss

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Quote from: darewaller on December 12, 2020, 01:49:31 PM

As long as you have ways to connect to them like phrases and so forth all saved in a secure place, they are good enough. Do not take security of your coins THAT seriously, when you have binance account with a good password that you do not use anywhere and 2FA there and bookmark the website instead of googling (for phishing reasons) you are fine and nothing will happen.

If you understand the concept of decentralized then you'll know chosing centralized platform over dex is just stupidity. The idea behind crypto was to put you the user in charge of your finance. Exchange like binance contract that thought. Exchange are weak when security are concerned, irrespective of how well secure they claim their platforms are surfer they're hosted on a centralized server, it becomes useless.

Just looking at the reputation of the exchange you might think they have everything covered until they get exploited and millions get stolen from the exchange, then you'll begin seeing how valuable they were considering the unreasonable excuse they will begin givjnyti deny users from accessing their funds.

Never use an exchange as a place to store or hide your coins, you can safely store them on hardware devices and when the need to sell comes, moved them back on exchange and sell. The disadvantages could be some time lost and small extra charges to cover transaction fees but it'll be better you loss that then all your funds due to hack.

darewaller

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Best place to hide it is at binance if you ask me. There is nothing wrong with binance and I understand that people want to share super safe and secure places, hell I have seen people go as far as downloading everything to your computer and putting it on 5 different USB sticks just in case, why would you do that? I think putting them all on binance or if it is simple known coins just blockchain.com is good enough.

As long as you have ways to connect to them like phrases and so forth all saved in a secure place, they are good enough. Do not take security of your coins THAT seriously, when you have binance account with a good password that you do not use anywhere and 2FA there and bookmark the website instead of googling (for phishing reasons) you are fine and nothing will happen.

Lorokan

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

Warning - i'm a beginner.

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

2.
What is the best easy way to convert crypto for gold or silver?

Thanks guys!

I think there are easy ways to avoid dump while trading or hodlng your bitcoin or altcoins; As a trader; once you have bought low; you can place your sell order (prospective amount you believe the token can reach), then you set your stop loss too; to act as a guide, a protector for you and your investment.

Another quick solution is to sell to usdt immediately; but will it be at loss or a profit? these are factors you need to consider.

XZERO1

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

2.
What is the best easy way to convert crypto for gold or silver?

Converting your Bitcoin when it starts to go down to gold and silver could be a very bad idea, looking at Bitcoin and Gold/Silver chart along side of each other you can clearly see they have almost the same pattern and they usually pump and dump at the same time(maybe just with a few days/weeks delay), so the only good option would be exchanging your Bitcoin to one of the stable coins(USDT, PAX, TrueUSD and such).

But it's important to remember that exchanges should not be used like banks and after converting to stable coins if you don't want to trade for a good while it's better to withdraw from whatever exchange you're using and send your stable coins to your personal wallet which you have the private key to, so that way your funds will be safe from whatever that could happen to that exchange during that time.

palle11

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Quote from: Vispilio on December 11, 2020, 03:48:52 PM

1) Inexpensive put options, you can search various crypto option exchanges and find some price mismatches to give you great value for some put spreads,

A trader that always research or putting focus on spread before trading is likely going to work themselves out on that. I think the main point should be how much profit that your strategy can grab for you. This is because some trade trade can work better with your strategy and you are sure to grab profit, so would you change your mind to trade on it if the spread is higher than those pairs that you are not sure to have profit?.

Vispilio

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1) Inexpensive put options, you can search various crypto option exchanges and find some price mismatches to give you great value for some put spreads,

2) Shorting with leverage to earn interest, or shorting futures when you suspect a reversal, eg: ETH quanto short pays a far greater interest premium than shorting BTC, you might prefer a correlation play like that if you believe the top is near...

JooBra

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Quote from: lixer on December 11, 2020, 01:22:05 PM

Quote from: frosti7 on December 03, 2020, 11:05:27 AM

I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

Yup stablecoins is a good way to go, but how sure are you that the market is getting dumped? That’s another question you have to consider, there are times that the market will move back for a short time. When the price of Bitcoin or all these volatile cryptocurrencies is going up, it doesn’t just be going up straight and getting you profit straight up.

Today it can be up to $10,000 and you can wake up tomorrow to see that the price has dropped to $9,500, and wake up the next and see it up at $12,000. So, sometimes it might just be a slight drop and in a situation like this it’s best to just leave it there and it will continue going up, if you convert to another currency you will lose.

We are not in dump times yet. Those are all correction of market and it's good for BTC. It all indicates this is going to be start of BTC push over 20k soon.

lixer

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

Yup stablecoins is a good way to go, but how sure are you that the market is getting dumped? That’s another question you have to consider, there are times that the market will move back for a short time. When the price of Bitcoin or all these volatile cryptocurrencies is going up, it doesn’t just be going up straight and getting you profit straight up.

Today it can be up to $10,000 and you can wake up tomorrow to see that the price has dropped to $9,500, and wake up the next and see it up at $12,000. So, sometimes it might just be a slight drop and in a situation like this it’s best to just leave it there and it will continue going up, if you convert to another currency you will lose.

CryptopreneurBrainboss

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Quote from: ?? on ??

I think the best answer is if we don't want to lose too much we should learn to reseach first for every coin that we are about to invest with, also we should know the basic rule in trading, invest what you are only afford to lose, do not put all your eggs in one basket, you may transfer some of your coins to stable coins if you want like usdt, since it is equivalent to dollar and fiat or vice versa.

Well the issue here isn't that they didn't research properly but in some instances every coin get dumped at some point even bitcoin experience this talk less of altcoins with less importance to the market. You can't be too careful when selecting a coin to invest in to avoid dump as that's a part of the market and even though you invested with just funds you'll be ok losing, it still doesn't mean any harm if you want to minimize the lost that'll happen in case there's a dump.

Remembering if you successfully avoid the dump by trading your coins to stablecoin you'll most likely get more coins when you buy back with the exact previous capital you held in stablecoin prior to the dump. It doesn't harm if you get the predictions correctly but in a scenario when it was a false one then you lose a huge portion of your investment which will reduced the profits you were to gain due to price increase of your investment.

Ridwan Fauzi

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Quote from: frosti7 on December 03, 2020, 11:05:27 AM

Warning - i'm a beginner.

1.
I'm trying to prepare myself, when BTC would start to "dump", what is the best place to protect your ASSets ?
Is it to convert to stable coin?

First of all, you have to choose the strategy period of time so as you will know the decision that suitable for your strategy. There are two strategies namely long term and short term investment. You don't have to sell your bitcoin although its price being dumped by some investor if you choose long term investment because you already predicted and have a target price to sell your bitcoin and it is otherwise when you choose short term investment. Usually, the trend transition period will not change in one day, There must be a confirmation beforehand to ensure that the trend will change, so selling your assets in panic selling is not a good thing.

Quote from: frosti7 on December 03, 2020, 11:05:27 AM

2.
What is the best easy way to convert crypto for gold or silver?

There many people who consider (especially crypto investors) that bitcoin is like gold or we can say it is a safe haven place to store our money especially when the crisis economic in some countries comes. And if you compare the price movement of gold and bitcoin will have similarities, I mean when bitcoin price up then it can happen as well in gold price movement, so to move your money when bitcoin price fall to gold is not a good solution to me, you may good to move the money into your money fiat directly.

Topic: Dump tactics - where to protect your crypot's when during dump? (Read 621 times)