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Topic: I've made 600k in Crypto - When to call it quits - page 15. (Read 15588 times)

member
Activity: 686
Merit: 26
★777Coin.com★ Fun BTC Casino!
That is a good chunk of amount and you can buy something useful from it.

Its a very big amount and definitely majority of the amount should be withdrawn and some of them should be invested back in the bitcoin and other crypto. You should make it a long term investment in many of the ICO which are in its pre ICO stage or ICO stage for better returns.
full member
Activity: 532
Merit: 100
It just proves that the earlier you get in crypto, the sooner you'll get your millions and I believe sir that you can still multiply that gains in multi-millions of dollars so just keep going.
newbie
Activity: 11
Merit: 0
Damn,it was a huge money,even my self still targeting earn 6k. But you have achieve 600k. Amazing,and people like you Will inspiring me to do better ini crypto. Btw i have bad experience on XRB..
newbie
Activity: 37
Merit: 0
Save some and send some on trading and other investments.
member
Activity: 630
Merit: 14
That is a good chunk of amount and you can buy something useful from it.
A good chunk it is indeed. For someone to have made that much, I am sure he must have been dedicated enough to the community, invested in some ICOs in the past and HODL to have gotten to this stage. I am not sure the amount he started with but one thing for sure is that it is a whole lot of money not to know what to do with it.

Calling it quit depends on him, but I would not do that, when the cryptocurrency space is just about getting started for more action. Best I will do is to diversify to some projects in the real world, and keep getting loaded for the rest of my life. If he is smart, then he is made for life.
The fact is that you can not use the entire amount for your personal life, as well as for investment. It seems to me that it's right to have a reasonable approach to this and distribute your financial flows to investments, trade and to your personal life .
full member
Activity: 518
Merit: 145
That is a good chunk of amount and you can buy something useful from it.
A good chunk it is indeed. For someone to have made that much, I am sure he must have been dedicated enough to the community, invested in some ICOs in the past and HODL to have gotten to this stage. I am not sure the amount he started with but one thing for sure is that it is a whole lot of money not to know what to do with it.

Calling it quit depends on him, but I would not do that, when the cryptocurrency space is just about getting started for more action. Best I will do is to diversify to some projects in the real world, and keep getting loaded for the rest of my life. If he is smart, then he is made for life.
newbie
Activity: 83
Merit: 0
So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the market cap of all coins growing.

[.....]

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.

What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Are you saying you've never taken profit to USD? You've been actively trading altcoins.... what is your tax situation? How do you plan to deal with the capital gains?

Raiblocks has already seen phenomenal growth. Sure, another double is possible, but the idea of not taking some profit off the table seems certifiably insane to me.

Your portfolio is not well-diversified. I would stop thinking about buying people houses and start thinking about better diversification and overall exit plan. You especially need to craft a tax plan that considers short term vs. long term gains and maximizes the capital you can reinvest. Remember, none of this is real until you have some of that USD value stashed in real bank accounts. It's prudent to put some gains away for taxes and a few years of living expenses, while reinvesting profits from your remaining capital investments.

Very good advice!
newbie
Activity: 98
Merit: 0
That is a good chunk of amount and you can buy something useful from it.
hero member
Activity: 1134
Merit: 515
Holy sh*t! Dude you mind giving a more better explanation to this? Do you mean 600k dollars, euros or what? Mehn… you must have made a lot of money in this, what the… I haven’t even gotten up to 100k dollars in this. Well, from the way things are actually working out for me, I expect to hit a huge profit soon. But I don’t think you should call it a quit yet, but be careful on how you invest so you don’t lose what you have gained.
legendary
Activity: 1386
Merit: 1020
DGbet.fun - Crypto Sportsbook
if we begin the bitcoin games earlier,  it is easy to earn some much ! But now it's not!
I don’t really think so that making of this much of money is hardly a big deal for anyone who is having some good amount of money for sake of investing that money into the crypto world and other than this, if he has some good amount of knowledge regarding the things which can then help him in deciding the things in the best possible way. You don’t need to quit this if you are doing this much well.
There is still no doubt that bitcoin has given the chance to make thousands of people millionaire and let them go after their dream projects, but question is that is it still possible because earlier the price of the bitcoin wasn’t that much and those who invested before January 2017 really made the huge amount without even getting involved in any kind of trading? The answer certainly is NO because at this time you have to be an expert in trading to get this much huge amount of profit.
Making out potential profits would be entirely different just like before when it was still very on low price when we do talk about bitcoins potential income or price volatility difference.It wont really turns out to be the same opportunity for you to make money since it has already do have a high price it can make you money but only on smaller scale.This is why most traders do end up on trying out altcoins instead on hoping on hitting up that making yourself a millionaire.
newbie
Activity: 54
Merit: 0
Also - your friends are financial idiots - I can tell that by what you said about them. If they are telling you to buy a house, a car and "live a nice lifestyle" - they don't have money and don't know how much capital it really takes to "live a nice lifestyle." You can't do that on your returns safely until you hit low 8 figures (which you can at your age with your nest egg) net worth.

Do not buy a house - buy a multiunit building - live in one unit, rent the rest. Thereby you both get a great cash producing investment and you also eliminate your housing expense completely - accelerating the race to more wealth.

sound advice! i did something similar plus i dont pay bathing or anything and lots of other ways to cut corners main concern is turning some of that into cash i am sad i cashed in early on BTC but i dont think at the time being sick i could have managed without selling, so for the OP dont stress yourself after this point in the same manner... its a value that is all in one place with few options, the banks in some countries can even deny to receive a transfer and so on so start working smarter to make some of that in you bank profile lots of ways you can do this depending on the counrty your in i think....
copper member
Activity: 42
Merit: 0
I invest in XPR and STR.

I believe in the next month it will give up to 30-40% profit
sr. member
Activity: 574
Merit: 256
if we begin the bitcoin games earlier,  it is easy to earn some much ! But now it's not!
I don’t really think so that making of this much of money is hardly a big deal for anyone who is having some good amount of money for sake of investing that money into the crypto world and other than this, if he has some good amount of knowledge regarding the things which can then help him in deciding the things in the best possible way. You don’t need to quit this if you are doing this much well.
There is still no doubt that bitcoin has given the chance to make thousands of people millionaire and let them go after their dream projects, but question is that is it still possible because earlier the price of the bitcoin wasn’t that much and those who invested before January 2017 really made the huge amount without even getting involved in any kind of trading? The answer certainly is NO because at this time you have to be an expert in trading to get this much huge amount of profit.
hero member
Activity: 2730
Merit: 585
Leading Crypto Sports Betting & Casino Platform
if we begin the bitcoin games earlier,  it is easy to earn some much ! But now it's not!
I don’t really think so that making of this much of money is hardly a big deal for anyone who is having some good amount of money for sake of investing that money into the crypto world and other than this, if he has some good amount of knowledge regarding the things which can then help him in deciding the things in the best possible way. You don’t need to quit this if you are doing this much well.
legendary
Activity: 2996
Merit: 1132
Leading Crypto Sports Betting & Casino Platform
Diversify some of it into stocks, gold, property or other types of assets.
Yes, diversify it and just don’t put it in the old fashioned stocks and gold. You can buy some property which will give you better result after some time and later on you can get the profit from that as well. And as compared to stocks, I think the crypto currency is better than the stocks and will give you much more returns than them. Also you can diversify it into different altcoins and not just bitcoin, but do remember that the volatility is much higher in the altcoins. Make up your mind and spend or invest it wisely.
The one who have made this much amount of money can definitely invest that money which he has earned through this investment at some other place but the thing is there is no point of quitting and that too at time, when you are doing exceptionally well while investing your money into it. You actually need to keep on working hard in the very similar manner and that will surely bring more money for you.
member
Activity: 99
Merit: 10
Good for you mate and you are one lucky crypto junkie in the rank of newbie.
Things works perfectly fine for you and there is no reason you will succeed in your future plans.
How about investing the other half in bitcoin and hold it long term?
full member
Activity: 434
Merit: 100
I wouldnt trust anybody but myself and my own research, but i would maybe take some profits. =)
25% of profitt from all coins to new coins you strongly believe in - then let the market repeat itself.

600k in crypto is quite a huge profit, but I don’t think it is a good reason to quit. If I was the one,  I wouldn’t quit immediately,  I will simply withdraw the profit I’ve made so far and start afresh and make more money. #600k is even a small amount of money compared to what I’m seeing people make from Bitcoin. There are people making millions of dollars from this,  but don’t be greedy lol.
At the end is his call if he lives in a poor country that may be enough to retire and live a good life if he lives in the first world then that is a good amount but nothing close enough to retire, but he seems to be talented since he has made so much money in such a short amount of time, I made some money but nothing even close to that so I do not see any reason for him to quit.
sr. member
Activity: 332
Merit: 250
if we begin the bitcoin games earlier,  it is easy to earn some much ! But now it's not!
legendary
Activity: 1652
Merit: 1057
Use it to trade, though it is a little risk but try it.
If he really wants to do that, it would be better to use just part of it. That is a lot already and buying some sold out coins that stands to be a good project at the dip and selling them when there is a bull rally or FOMO rush on the coin to catch some profit, is always the best time to always drop them and look for the next target before coming back to that one once it finds a bottom. 600k though is a good amount of money and the OP can decide to set up any business offline which may not even have anything to do with crypto.

Obviously, not everyone would have been able to stand to say they have made so much like that after some couple of years. It is addictive, crypto, success, and so on as you will always want to make more as much as possible, so calling it quit, is one thing I doubt if anyone will ever do. For that kind of money for someone like me, I am just starting as I have not even reached any stage.
legendary
Activity: 1204
Merit: 1028
Wow! that is a great amount, use it for something good.
Exactly, this is actually a very good amount of money and that person who has made this much of the earnings in the world of crypto must be very much lucky as he is almost about to become millionaire but for that, he needs to keep on working hard in crypto instead of quitting it.

There is no point of quitting this for as long as you are making out something beneficial which can then help you in having a better living.
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