Well, its actually one of BTCs advantages as well as disadvantages, the price volatility. It is one of the risks that you take when tackling BTC. One thing to do is to convert money to other currencies, save a small part of it, and buy BTC when its price is low with the amount of money you have not saved...(kept aside for buying again). Then repeat.
This is not fool proof, as if the value of BTC goes low too much, there won't be any way to continue this cycle profitably, but this is a way to ensure that you don't loose everything.
However, to be safe, NEVER invest what you cannot afford to lose. This must be your Golden Rule.
Topic: How do I make sure to not lose $ value in BTC? (Read 1971 times)
This is an investment and bitcoin is one of the most volatile currency in the world so there is no assurance that you will not lose $ or money from having bitcoin because if you want to have that kind of investment then you should not invest in bitcoin because you are afraid of loses and a good investor never been afraid of losses and they are so very risk taker.
If you want a fix payout, just use fiat, it is more stable and popular than Bitcoin. If you don't need access to your salary weekly, I would just recommend keeping it in Bitcoin, especially with how high the prices are today, just today alone, Bitcoin has crossed the 3k mark and was pumped up to 3.2K. Here is what I would recommend doing this:
Set a specific amount, for when to sell at, say 3.5K and when Bitcoin reaches that amount you would sell around 50 percent of all your Bitcoin. Keep the rest as an investment, and sell that when Bitcoin goes even higher. That way you will always have fiat and Bitcoin.
Set a specific amount, for when to sell at, say 3.5K and when Bitcoin reaches that amount you would sell around 50 percent of all your Bitcoin. Keep the rest as an investment, and sell that when Bitcoin goes even higher. That way you will always have fiat and Bitcoin.
Don't put money in btc in the first place if you're quite hesitant as to where this investment will go. Every day, the value of bitcoin fluctuates very wildly and if you are the dude who keeps on checking the price every hour, this is not good for you. Before placing your life savings to bitcoin make sure you know what this is and how will it affect you in your life, especially your financial needs.
Yup! that is right, right now the price is in the high place and keeping your bitcoin is a great plan and wait for further increase but if you are a guy that is very hesitant and so afraid to lose your money on bitcoin then it is OK to back down and just put your money on banks and not in the bitcoin wallet, because your money is gonna lost without you noticing it, but I think if your investing in bitcoin look for bitcoin and not the value because you just ending up lumping bitcoin to fiat money.
Don't put money in btc in the first place if you're quite hesitant as to where this investment will go. Every day, the value of bitcoin fluctuates very wildly and if you are the dude who keeps on checking the price every hour, this is not good for you. Before placing your life savings to bitcoin make sure you know what this is and how will it affect you in your life, especially your financial needs.
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
Is there a way? Any suggestions?
As many posters in this thread suggested you can immediately exchange the BTC you get for your job to fiat and that would be the equivalent to "fixing" the price of your BTC. However, I wouldn't recommend you to do that. If you don't need your fiat right away it's better to hold your salary in BTC just paying no attention to the price dropping sometimes because it will rise more in the future anyway.
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
There is no other way. Cryptocurrency's volatility makes it risky for storage and investment. So once you have it and you know it can go down, exchange it so you dont experience like that. Is there a way? Any suggestions?
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
If you didn't really like to see price fluctuations then you shouldnt engage to bitcoin on the very first place because its always been part of bitcoin its price volatility which means it does move and you bitcoin holding will really be always affected.If you don't like that then cash out or exchange your bitcoin into fiat and you will able to see your money is fixed already.Is there a way? Any suggestions?
Unfortunately, I understand where the OP is coming from all too well. And it's the reason that I've lost a good deal of profits over the years in exchange hacks, exit scams and seizures.
On one hand, you understand the purchasing power of your bitcoin profits, and you want to retain that. On the other hand, you want to quickly be able to buy back into bitcoin once the trend reverses. There are no decentralized methods to do this with fiat money, so we traders need to maintain some level of risk exposure to exchanges.
You can exchage it to USDT and then exchange back to BTC only when you need to.
This isn't a safe solution. Read the terms of Tether. Legally, it's not redeemable for anything, let alone cash. It's supposed to be redeemable at 1:1, and in the past that has been the case, but they are not obligated by their terms to do that. Be very careful.
Also, Tether is owned by Bitfinex's parent company, which means they can't even process USD deposits/withdrawals anymore...
Actually it is hard to figure out since having bitcoin is taking your dollars into a risk, a risk where in when you put your money into it the assurance on getting back of your money is just 50% in my own opinion because when cannot figure out if the coin value will rise up or just get lower and lower but the suggestion I can give is a technique on not to lose your investing money, like other stated if the price of the coin gets higher, sell your coin not less than to the money that you invested then when it goes down buy again, the do sell and buy, like a cycle as long as you are earning.
You can exchage it to USDT and then exchange back to BTC only when you need to.
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I think you should save your bitcoin in your wallet. You will benefit from bitcoin fluctuations. If you keep it for a long time you will get your capital back. But if you turn it into fiat money .. then you will not profit from saving your fiat money.
saving bitcoin for a long time maybe can be the answer as we don't use our bitcoin for anything. but i think you can prevent this by selling your bitcoin in high price when its increase and then you can buy bitcoin again if its down. only sell the amount that you think you can return your bas buy price and plus make profit and keep the rest of your bitcoin for a long time.
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
Is there a way? Any suggestions?
If you are really concerned about bitcoin dropping, why not just convert your bitcoins into USd or whatever fiat you use in your country, as soon as you get the bitcoins you get paid from your freelancing activities? It's really as simple as that, you know.
But that means that there is really no point of getting paid in bitcoin at all, you can literally get paid in paypal and avoid the transaciton fees and the conversion fees between two currencies, etc.
Just hold onto your bitcoin man. You won't be scared of fluctuations after a while because you get used to it. Unless you absolutely need that fiat value to stay constant, then just hold your bitcoin instead. Bitcoin has actually been a lot more stable in recent days than in say 2013.
Bitcoin price always fluctuate and it is normal due to bitcoin is an object to get more profit, for now.
Until we have bigger acceptance and steady demand because its usability, then we should get used to it.
The idea to be paid with bitcoin is a complicated situation, just like Op have mentioned, while we keep bitcoin, there is no way to set certain price in order not to lose the value in $. Because we're on competition to buy and sell at the right time, sell bitcoin whenever you want at the peak, after bitcoin rise significantly - it will get corrected obviously.
Until we have bigger acceptance and steady demand because its usability, then we should get used to it.
The idea to be paid with bitcoin is a complicated situation, just like Op have mentioned, while we keep bitcoin, there is no way to set certain price in order not to lose the value in $. Because we're on competition to buy and sell at the right time, sell bitcoin whenever you want at the peak, after bitcoin rise significantly - it will get corrected obviously.
Just control the price every day. It takes a few minutes a day. Then you will be sure. You will not lose.
I think you should save your bitcoin in your wallet. You will benefit from bitcoin fluctuations. If you keep it for a long time you will get your capital back. But if you turn it into fiat money .. then you will not profit from saving your fiat money.
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
If you didn't really like to see price fluctuations then you shouldnt engage to bitcoin on the very first place because its always been part of bitcoin its price volatility which means it does move and you bitcoin holding will really be always affected.If you don't like that then cash out or exchange your bitcoin into fiat and you will able to see your money is fixed already. Is there a way? Any suggestions?
though bitcoin is so volatile it still gives higher return for investment its a matter but It's your choice whether you're afraid or not 
If you compare bitcoin with all the other virtual currencies, I'm sure it is the safest currency. It is very difficult for a bitcoin to lose value, besides, the profit generated from bitcoin is also huge.
Well OP's question was about how to fix the value of bitcoin today since he gets paid in bitcoin. The reality is bitcoin falls just as often as it rises so there is no way for him to lock in his prices other than selling his bitcoin as soon as he gets paid.
From time to time, I get paid in BTC for my freelancing services. Sometimes, I don't exchange it to real cash and let BTC sit in the wallet. But lately there has been A LOT of fluctuation in BTC price so if I have, let's say, $2000 today, tomorrow I might have half of it. I don't like that kind of a situation. So is there any way to make sure that your BTC gets fixed? Like, somehow fix the BTC price in your wallet. So no matter if actual BTC price rises or falls, you still have the same value that you have today. I think I might be interested in keeping some of my savings in BTC (away from banks) if I can somehow find a way to fix the value that I have today.
Is there a way? Any suggestions?
Is there a way? Any suggestions?
It's really a hard call whenever you decide to buy anything with BTC. You would've bought your Bitcoins when it was at a particular price and by then, it would have varied positively or negatively in price (positive most of them times for longer terms) and this will have you confused if spending BTC to buy those things would be worth it or not. Ultimately, it would be your call and with the ever rising price of BTC, you're sure to never lose value on the longer runs.
though bitcoin is so volatile it still gives higher return for investment its a matter but It's your choice whether you're afraid or not
If you compare bitcoin with all the other virtual currencies, I'm sure it is the safest currency. It is very difficult for a bitcoin to lose value, besides, the profit generated from bitcoin is also huge.
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