Topic: How to be ready when it comes to selling? (Read 299 times)

I totally understand your point but I would advise you not to be very greedy to the extent of wanting to catch the selling price at the very best, if you want to catch the best price for selling you could fall into problems because at the time which you think is the best might not be the best, so instead of find the best time to sell just be prepared to take profit at a desire or conducive level.

Exchanges are really not trusted, they have more of negative expectations than positive, you should better stick with your funds in a cold storage, if you wish to sell at point it wouldn't take too long to complete your transaction from your cold storage to an exchange the you can sell. Although it's not certain that transactions will be price fast during the peak because there might be congestion but it's better not to loss your funds, instead of losing it all to an exchange no matter the reputation they have it's best to reduce the chance of been scammed by them, instead move all the assets to you cold storage. It will guarantee your safety.

With all the warnings and shout that has been going on it would be totally to see someone fall a victim of exchange issue during this bull season. This period in the crypto space is filled with alot of dramas and stories and one of the naive act to pull off is trying to use an exchange aside it's Original use which is to trade your coins. Exchange should be use for trading of our coins and not as a store house for the coins.

We seem to be standing on the corner of a bullish market and it is very difficult for me to understand what the future holds. I think if your investment is part of good profit at this time then sell and keep the profit in your wallet. Because if the btc price breaks completely in the future, then the market situation may go down again. I think investment should always be profitable so this is not the right time for long holding.

Hey!
Coinbase is not gonna collapse anytime and not even now. But then, no one will openly advise you to keep funds on exchanges, just follow your mind mate.
Meanwhile, if you want to sell at $150k and before the fund arrives exchange from your cold wallet it drops to $148k, I don't think there's a significant difference which we will consider as losses. So, nothing to trouble about.

There are many ways you could dispose your Bitcoin if you actually wants to sell them.
We have so many exchanges whether centralized or decentralized where you can sell them and get your funds.
Most time you don't have to bother yourself or selling on the exchanges. There are people that might be interested in selling your crypto especially when they are close to you. You can also sell through escrow on the forum in case someone is interested in buying it.

The 25% of my crypto I hold on exchange is Coinbase.

Coinbase is one of if not the biggest exchange - what are the chances of it collapsing during a bull run?

I understand exchanges collapsing during bear market but would be surprised if any were to during bull run , has that happened before?

Follow what others are saying about not storing your crypto in an exchange, see Mt. Gox incident and FTX incident as a proof that no matter trusting most CEX look, they're likely to scam people out of their money and they really can do it whenever they please because you're basically giving them your crypto but they write you a receipt that says, you're the owner of this amount of X crypto, though they may give it back to you if you plan to transfer it somewhere else but the moment that they decide to run away with all that crypto that they're supposed to take care of is the moment that it's going to be a lesson learned for everyone that has trusted that exchange to store their bitcoins.

Congratulations. You will be one of the few people around the world that will experience the crypto bull run phase. I said the term "few" because there are only few people globally that are involved into crypto.

You're at work now? Hmmm, do everything in advance and keep track of yourself with the crypto prices through Coingecko or Coinmarketcap app on your smartphone. When we are in a bull market, on those 8 hours nothing drastic will be changing except for Bitcoin going up in price by double-digit percentages. Bitcoin will make a series of higher lows throughout the whole bull market, so don't worry too much about those 8 hours that you are working because you'll be able to sell your tokens at a high price or maybe even higher.

As for exchanges falling during the bull run, I didn't hear of any of them that went bankrupt, at least to those popular exchanges. Probably it's because there will be high daily volume on these exchanges as investors will continue to buy and sell. Even so, I don't recommend storing your funds in an exchange for a long time.

Do you want to lose all your efforts that you have put into keeping your crypto safe for all this while in your cold wallet, keeping crypto on exchange is never a good idea unless you're an active trader and the amount that you're keeping on an exchange should be an amount that if the exchange seize to exist and you lose the money it won't be the end of the world for you but since you're not a trader you have no business hodling your Bitcoin on an exchange.

You're speaking about missing the opportunity to sell at a potentially high price but aren't you considering the possibility of losing all your crypto holdings because the moment you send your coin to the exchange, you're making your coins valuable to hack. An exchange can't protect your crypto like you'll do when you hodl them in a cold wallet as you're already doing.


I'll scarified those few extra profits I would had made by selling at a higher price then making my crypto valuable just because I don't want to miss selling at the supposedly best price. Better still it'll be best you set a price for you to take profit and not try to time the ATH of Bitcoin to sell as it's very unlikely that you'll sell at the ATH.

Even if an exchange doesn't go bankrupt since the odds for that happening are very tiny if an exchange is reputable such as Binance, there are other risks such as accounts getting compromised, or the platform facing problems such as hacks and exploits whereas in some cases, platforms repay the loss to their customers but sometimes they don't, so one shouldn't take the risk in the first place.
As said by others, it shouldn't take much time for one to transfer their cryptocurrencies from their hardware wallet to an exchange platform, even if they choose to pay minimal fees, they would get it done in a couple of hours max.

Don’t you just think it will be a better idea if you can move the remaining 25% of your funds to your cold wallet, how are you going to do if the exchange which you are HODLING the coin gets compromised and you lose your money, am sure you are definitely going to feel bad, losing 25% of the amount you worked for is something really bad, so I will recommend you move the remaining 25% to your cold wallet.

Is there any difficulty trying to withdraw from your cold wallet to your exchange wallet? If bull run start, and you want to sell your assets, then you can easily send them to any exchange and swap it,  it’s not something that’s difficult, and it’s not going to take time.

When the market is pumping, it won’t happen within seconds and dump again, the coin which you are holding might remain at a price for hours or days, and if you are withdrawing from a cold wallet to exchange, it’s not going to take much time. It’s better you leave your coin on cold wallet, don’t be scared that you are going to miss out.

What was your plan when you started buying? Was it to sell after this years halving or to hold even beyond it? If it is to sell this year, I will not discourage you because it is your money and I have no rights over it. What I will only advise you is never to save your money in CEX because you will be exposing yourself to risk that can cost you your entire assets. Still keep it in your private wallet, just pay the fees whenever you want to sell, that way you will not be expose your assets to risk.

It is not easy knowing what the peak will be, those who tried it have failed on many occasions as they sold only to see price continue rising. Take for instance, many people  targeted $70k in the recent rise in price that lead to a new ATH, little do they know that price will pass there. Conversely, a good number of short term traders were of the opinion that if price took the 2021 high in the range of $69k that the next destination was going to be $76k before any correction. Some of the people with this believe bought aggressively when price reached $70k with the intention of selling at $76k to make quick profits. As you know, Bitcoin never got to $76k before it rapidly depleted and lost over $10k within few days. With this you can see that is is very difficult knowing what the peak will be.

Bitcoin is not like altcoins which the price depreciates within a few hours. Eight hours will not make you lose the opportunity to sell at a good price. Let your funds remain in the cold wallet because it is safe and when it is time to sell you will achieve it few hours. I might not specifically state any exchange that went bankrupt during the bull run but some negative events such as scams, hacks or corruption that lead to the fall of exchanges cannot predicted. These events can happen anytime to any exchange within a few seconds.

Just have a selling price and follow it no matter how the market turns out. I have set a target and immediately it gets to that price, I will sell and start planning how to begin my DCA for the next bull run. You have been patient for two years, so I think you should still endure these few months.

Crypto exchanges are not storage they are basically for crypto trading holding your crypto in cold storage is the best decision you ever make as a crypto investor.
If I were you I wouldn't touch the 75% in the cold storage footing that the cryptocurrency market will experience in the future market but seamless move of the crypto you want to sell during the bull market I will advise you to get a hardware wallet for that while you send the crypto you wanted to hold for the long term in the cold storage.

I understand your strategy, looks smart but more trappy to me. Don't leave your coin on any exchange if you don't have business selling that particular time because between that range of bullrun, a lot can happen, 1 months in crypto looks like 1 year in crypto world, a lot things can happen that period. You don't even need a centralized exchanges to sell your coins, kindly use a Dex from your laptop and connect your hardware wallet to sell your coin to USDT, it's as simple as that and USDT use for anything you want at any time without worrying of any volatility.

If this is your first bullrun, please have it at the front of your mind that any coin can pump to any price, what you have in mind for the coin to perform is not what night happen. If you have enough profits that you think it's significant enough, sell the coin and move out of the market. If you are in profits and having the mindset to use your money to buy a car, you might keep holding forever until tte profit becomes loss.

Exchange is not a safe place to leave bitcoin because anything can happen and it is a centralized wallet. Keeping some of your assets on Exchange to make things easy for you whenever you are ready to sell is not a good reason for you to leave your coins on Exchange.  If all your assets are in a decentralized Exchange and you want to sell out I don't think it will take you the whole day for the transaction to be successful.  Take your asset out from Exchange,  and let nothing be a reason why it is stored in Exchange.

I don't think this is a very good idea. You can sell crypto not only through centralized exchanges, like binance, but for example, bisq or an aggregator of exchangers - bestchange, and then the unsafe moment of storing crypto on the exchange disappears. In these cases, time is lost only on confirming transactions, but the price is temporarily frozen until the end of the deal, that is, in fact, it is as if you are selling crypto instantly (at current price).

If the crypto network is not overloaded and there are no overpriced high transaction fees, then I don’t think you will miss out on the best selling price. Again, don’t try to catch this best selling price, but sell when it’s already profitable for you. Don't be greedy.

So you see, you understand the risks associated with storing on an exchange, but you still want to hear that it is a safe way. Don't you think you're being too greedy? Don't forget, greed leads to poverty. Crypto will already allow you to make a good profit. Be grateful for at least this.

If you are planning on selling your cryptocurrency in an exchange, do it in an exchange that is already well-known and relatively secured. While there is still no guarantee of safeness, I still recommend that you consider the large/big exchanges if you plan on going this route.

Personally, I convert and keep my BTCs in our local exchange in our country. I do understand the risks of putting my BTCs in such a fragile position and I also plan on purchasing a hardware storage for my BTCs in the near future. Perhaps I may do it once after the halving is done to maximize the prices at this current time.

If actually you have it in mind to sell your coin during the bull market I will say you can move your coin to an exchange that's if it is not in large quantity because I am seeing it that when we enter the halving the congestion in mempool may increase and transactions fees may also be higher then as it will also cause delays in sending your crypto from your cold wallet to an exchange address so you can move your crypto to an exchange and wait for the bull period for your to sell it off in the exchange easily, my opinion.

I would say if you really are holding it for a bit longer pull your asset in the exchange and put it in your cold storage for the mean time, because we never know if that exchange will get hacked or closed, also to avoid hassle and stress you better have full control,

The OP is talking like he will want to sell everything within 30 minutes! The markets can
move quickly but its usually not so quick that you will miss out while trying to access your
wallet and waiting for a transfer and then waiting for your sell order to complete.

Its nigh on impossible to time the top or bottom of a bull/bear run for buying or selling

As others have said keep the bare essentials on an exchange and the vast majority safe
in your personal wallet, when its your chosen time to sell then make your actions,
dont panic - there will be plenty of time to transfer funds and make your sale.

Just remember by having coins on an exchange you dont have full control of them eventhough
you have a login and password, anything can happen !

You've chosen the right coin and the perfect means of holding your coin on cold storge, the one on exchanges can be engage when you want to use fiat or go into some kind of short trade because they are what is affordable and not that much on the exchange, but talking on the perfect time for selling, we have to hold and ensure that we realized the time at which bitcoin market bullrun got to a satisfying market price at which we think if we sell, we have already make some profits from the investment made, and later on, we may still target the dips as well as to buy again and hodl for the future pump. 

Just choose the asset that you are planning to sell. you don't need to move everything to an exchange, just leave it in a few wallets that you set up for a longer time.
I know your worries when the pump occurs and you might miss the best momentum. Such momentum can occur after halving or require a longer time for maximum growth. but if there is a pump that makes you satisfied, then you can sell it. If your target looks close, maybe you can send it to the exchange, or you can do it when you want to sell it. Transactions also won't take too long. and will not lose momentum.

Just keep it in your cold storage, it's better to be safe than sorry, or leaving much of your coins in an exchange just for the sake of getting more profits. And with that, with the safety concerns, just move it when you think that you are going to sell. It might be just a couple of dollars or even less in your profits. Instead of again, you can't sleep thinking of the big crypto you have in an exchange. There are a lot of criminals plowing around and you don't want to be the next victim of a hack. At the peak of a bull run, I don't think there will be massive like 20% selling at one go. So still there are profits to be made in your end.

Selling near the ATH may end up with you losing your money, so it is better not to be greedy and set a reasonable range such as $120,000 to $140,000, which the price will likely remain for several weeks, which is a sufficient period to transfer your money from cold storage, sell it, and convert it to cash. .
If you choose the option of saving a few dollars in transaction fees (let us assume $100 in the worst case scenario), you risk losing all your money, as your money in the stock exchange is not yours, but rather an amount that the platform owes you, and if it goes bankrupt, it may not return the money to you until after 10 years or more. Is saving $100 on average worth it?

By 25% / 75% on and off exchange, you have good practice than people who store 100% of their bitcoins on centralized exchange accounts.

You even don't have to store 25% of your bitcoin on exchanges because when you need to sell it, you can deposit it to your exchange account, sell it, and withdraw as soon as possible.

Bitcoin has very high trading volume and it's not hard to have your sell position fills. If you are clearly with price you want to take profit and the market is exchanging around that target price, you can take profit without seconds and minutes. Then withdrawal will not take a long time.

Reminder: do not keep your money in online accounts

The market is already bullish, but I'm expecting that we are going to get to the peak of it next year and would be a good time to sell and take profit.

I think you're trying to avoid paying transaction fees to exchange that's why you popped up this question. If you're a daily trader, then you need to have some of your funds on the exchange. Aside this I would strongly advise you to send the remaining 25% of your funds on the exchange to your personal wallet and hodl. Not your coins, not your keys.

Move your asset to an exchange for selling if BTC hit your target e.g $100,000, it won't take you more than a minute or two to send the coins into a crypto exchange account.

Until then, your coins are safer in your cold storage, you are talking as if when a new all time high happens right away it will only take a hour or two before it dump again, price actions doesn't work like this because it takes months and months of consolidation before a break out.

The real bull market can stay for many months or even a year and half before we start dipping into a new bull market, so there is a lot of time for you to take profit, you can always move your coins from your cold storage into a crypto exchange if you want to sell.

There is nothing to be in rush about, high price don't go back down the next day, there will be a lot of time to start taking profits slowly.

I have been buying since March 2022 and did so up till last month so i was lucky enough to buy all along the bottom of the bear market.

I am tired of buying and holding yes, it was a long 2 years but I will remain patient and just put a plan in place for the next 12 months.

I don't plan on trying to time the top of the market, I will start selling in a few months in chunks over the next year or so.

Sorry to say but you are just being overzealous. Selling doesn't require a special preparation other than having your price target you're willing to sell. Transferring your coins to an exchange is a mistake especially when you still have up to a month before selling. You can send out your coin some hours or a day at most before your selling day and it will still drop without you missing your target. We are not longer in that period where transaction hang for days before confirmation. With just a little acceleration fee your transaction will be delivered like a jet.

No one can tell when an exchange will fall victim of cyber hack and moreover, it's better to miss the best price than to lose your coins. Your funds security comes first before any other thing. Although, I don't know the reason behind your intention to sell but are you tired of holding? I mean why planning to sell everything at once?

This is something that a crypto trader should be talking about, and it seems that you are not into trading.

Traders trade on hourly price actions and some use weekly price actions, this show that we can be at a certain price for a week straight, you have a lot to learn about price action.

Normally it takes bitcoin more than 100 days to stay in a bullish market, thats a lot of time to have sell your bags, we have weekly candle and monthly candles for a reason, you should do your research on this to gain more knowledge.

If all you want is to hold Bitcoin and sell when it surge up you don't have to worry, assuming you are at work and Bitcoin reach a new all time high, it won't dump in an instant, you can choose to sell the next day or two.

First bull run for me and i Just want to be ready.

I am at work now and my cold storage wallet is at home so just thinking what if crypto goes up while I am at work for 8 hours and I cant do anything about it until I am home because all my crypto is on cold wallet at home.

Have exchanges fallen before in bull run or is it usually deep in bear market?

It is not a safe practice to keep your coins in an exchange, because the moment your coins is in an exchange, it is no longer yours until when you withdraw it. Exchanges are vulnerable to attack. I will advice you to move your coins to your cold storage and have 100% of your investment safe.

You want to make a very big mistake that can make you loss all your funds. What if the exchange crashes or get hacked while you are waiting for the bull run. See exchange as a market place for buying and selling crypto, and not a bank to keep your funds. You already have a cold storage with is good and safe. You should have a price target when you will be taking profit, so that if bitcoin price reaches that target, you sell some fraction. Take profit at different level of bitcoin price and not all in one price.

I highlighted your words, it means you're trying to sell at the peak, why you not sell little by little without waiting until the peak in this halving season? I'm sure the problem isn't the process, but you don't want to spend a lot for transactions fees because when bull run happen, usually the mempool is congested. When you only want to spend fair amount of fee, you missed the peak because it takes more time for your transactions to be confirmed.

Usually a centralized exchange has a problem in maintenance or pending withdrawal during bull run.

Its good idea to hide it on that wallet as long as you have the private key of that wallet then everything is fine since transferring of funds just take minutes before you can sell your asset so when the time you are ready to sell you can just transfer your wallet on the exchange where you think safe for you to dump your asset.

Just make sure you always follow the current news to make sure that you are on time selling and will not left behind like for example you think to sell now because the market is collapsing. Don't worry about price dump while your funds is in cold storage since you will not see a big drop in short period of time it gradually happens so there's still time to think about dumping your asset and you just need to assess the current situation and plans in that condition.

You still have some months left to sell just like you said and it takes only a second for everything to go wrong with any centralized exchange, are you sure you know what you are doing?

Your 25% can be $1000 or even $1M, it's still a lot of money, your digital assets are safe in your cold storage, how many seconds its going to take you to move your assets from your cold storage to any exchange and sell?

Don't be stupid, move them back into your cold storage, since you are not selling today, and sit down and think about how you will start taking your profits and when, if you don't have this in place already its not safe.

Many investors failed to have a profit taking strategy in place and when Bitcoin and other ALTs are pumping hard, they find it hard to take profit and they ride down bear market again, if you are in profit you are in profit, do not be greedy, take some off the table.

You are overthinking the whole thing and you need to calm down.
The great opportunities you think you will miss is no one-off. It is repetitive.
Are going to sell off the whole 75% of your crypto that is in cold storage or you are going to take profit from it. If you stay up to date with the market, it will be hard to miss the many opportunities of "selling" that will come along with the halving.

I am with the community on this, telling you to leave your crypto in cold storage. Whatever fee you think you want to avoid by moving them ahead of time to a cold storage is something you will be able to afford and it will not even affect your asset value.

I say it's better to stay safe and I don't believe the process is that complicated or time-consuming either. All you need to do is pay some generous fees, and you're good to go.

The exchanges falling would also be something we're going to experience, but I don't imagine that would make you miss any great opportunities.

I never keep funds on an exchange... If you've been around for a while, you'll probably remember many instances of exchanges that were trusted in the community, but still went bankrupt/scammed/got hacked losing millions and millions of dollars in crypto.

Moving funds from cold storage to an exchange is a matter of minutes (if you don't mind paying a decent fee). Waiting for a couple confirmations might take an other hour... But in ~2 hours you can have your funds from your aigapped device on an exchange, ready to sell... It's defenately not worth the risk to keep it there IMHO.

For me, the only time any funds (be it crypto or FIAT) is ever on an exchange is right before and after i buy or sell... crypto goes from my hardware wallet to an exchange, gets exchanged to FIAT, and the FIAT is withdrawn the very same day... Other way around exactly the same: FIAT from my bank to the exchange, as soon as it's cleared i do the exchange, and as soon as possible the crypto goes from the exchange to my hardware wallet...

I currently have 75% of my crypto on cold storage and 25% on exchange and yesterday I was thinking about when it comes to selling.

I am not thinking of selling anything just yet but maybe will start in a few months once the halving is here and the market starts to really move.

Is it a good idea to still have most of my crypto on cold storage in a few months when the market is pumping and I am wanting to sell or is it best to start moving everything to exchanges which will then make it easier to sell?

I am just thinking it will be a long process having everything on my cold storage and then seeing the market pumping then having to send everything back over to exchange I may miss the best prices to sell as it will take some time to send everything from cold wallet to exchange.

I understand it is more safe to have crypto on cold storage but is it less likely in the peak of a bull run for exchanges to fall? If so, I feel it would be better to send all of my crypto to exchange in advance to then be ready to sell everything.

This may be obvious to some but this is my first bull run and want to be ready when it comes to selling and I am just not sure what is best way of planning to sell.