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Topic: Swap crypto or sell first then buy? - page 4. (Read 615 times)

full member
Activity: 1060
Merit: 103
May 17, 2024, 05:34:51 PM
#32
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

USDT is the most widely used trade pair for every cryptocurrencies and there are very less options to transact against BTC, ETH or other crypto.
Personally I like the flexibility of having USDT than to exchange directly to a coin like BTC or ETH. If you are doing the exchange option to directly exchanging one altcoin to another in exchanges, you are still going through Alt to USDT and USDT to alt route paying the same fee. If you are manually transacting, you can look for better rate and has time to change your mind about the alt you are going to invest on and the amount. You can also maintain a balance to DCA your investment.
sr. member
Activity: 1708
Merit: 295
https://bitlist.co
May 17, 2024, 05:20:04 PM
#31
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

You can be more specific about that category so that everyone can share more clearly about the plan or goal that it can achieve.

I think each person's investment behavior is always different and it is not fixed which investment will bring profit. As I am building a strategy mostly for bitcoin and only hold altcoins that I think are worth buying (low valuation, upside potential, technology, applications, team, community,...)

If there is a profit, it's not a big story, the important thing is what you expect that goal to be, I know some scenarios where you regret making a wrong decision, selling what you're holding and the price increases sharply. Meanwhile, newly purchased items show signs of decreasing. So right from the beginning, you should make your plan clear, not follow the trend that is being spread and then there will come a time when you realize you are going backwards and going through all kinds of ups and downs of profits but not getting anything.
sr. member
Activity: 1680
Merit: 288
Eloncoin.org - Mars, here we come!
May 17, 2024, 05:19:23 PM
#30
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

I usually prefer to swap to USDT and then buy whatever crypto it is. This is better to me because it helps you to keep easy track of what you are doing. The rate you bought at, and the rate your wish to sell. Some people still do the necessary calculations despite swapping directly between currencies, but USDT is simple and easily understandable.
full member
Activity: 2520
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Eloncoin.org - Mars, here we come!
May 17, 2024, 05:15:01 PM
#29
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?
I do not use coinbase but I would assume that pretty much with any exchange, it’s much more convenient to just swap it. Unless you decide to not buy the new altcoin you want to buy immediately then I would suggest switching to usdt first to hold.

Otherwise, it would take you less time and less steps to just directly swap them if both coins are available in the exchange anyway.
full member
Activity: 896
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PredX - AI-Powered Prediction Market
May 17, 2024, 05:12:28 PM
#28
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

Maybe it depends on the network of altcoins that you will sell; if the altcoins that you will sell or swap have different networks—onchains—of course, choose the one with the lowest network fee. Right now, the lowest network fee I see is Bep20, but that depends on your OP.

Now, if you do it in your swap, it still depends on the platform you use, and since you are using Coinbase, as far as I know, there is an adjustment in terms of Coinbase fees when you use it in the swap category, and this is the link: https://help.coinbase.com/en/wallet/sending-and-receiving/adjusting-miner-fees.
member
Activity: 994
Merit: 46
May 17, 2024, 05:11:37 PM
#27
If you made your mind that you are going to buy y coin with the profits from the x coin and if you find pair of x-y coin in the exchange you trade then I don't think there is any reason to sell for USDT then buy with USDT cause it's just double your trading fee and consumes more time than what it is supposed to be.

If you made profit from altcoin then I suggest you to cash out the capital first which you just withdraw or invest in BTC then diverse the profits into multiple new coins will increase the returns.
To lessen the fees, and if you’re still planning to reinvest it, better to swap it directly but still it will be your choice. Taking profit is always advisable, and you should not hurry to reinvest it, again you should came up into a good investing strategy so you wont lose the profit you make. Reinvesting until you get the profit that you desire is always the goal.
Even everyone is having his own mind-set about these things but for me swap is never been ideal thing because if you are using this on any exchange then you will be not having good rate with usually they give low rate which are never been good deal for the person who is using this and if you are having option to sell them go ahead and then buy your required altcoins or tokens because this will take some fees but still you will be able to have better rate and good profit from this all.

Usually fees are not enough while you are trading but as you are going for the swap then surely you are going to have rate which is never been good and this is going to be had problem for you.
hero member
Activity: 2086
Merit: 501
★Bitvest.io★ Play Plinko or Invest!
May 17, 2024, 05:10:09 PM
#26
Swap could save up the transaction fee if you just want to get it at the current price or in a rush, but if you want to play with your crypto by trading then trade what you are holding now into USDT then set up a buy order to the alt that you want, this way you could manage the entry price that you like, ( the only disadvantage is when the price goes up and didn't meet your buy order limit).
I prefer to swap rather than trade if I just want to hold another coin to save up from transaction fee from trading to USDT and buying the new alt that I want to hold.
member
Activity: 854
Merit: 30
May 17, 2024, 04:53:24 PM
#25
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

A lot of people, not me made this mistake in the last bull run. What they did was after making huge profits from altcoins the invested, they reinvested the same money into altcoins that has not pumped yet and that's who they made one the biggest mistake they will never forget, they lost most of their profits investing in those coins, many of them even died and never resurrect again.

My advice is that if you are holding a good coin and you know that the coin has potential to move up for more, why not live them instead of going into another dangerous coin that may even fail you. The devil you know is better than the angel you don't know, so be careful with the market liquidity exits from whales.

The altcoin I took profits from was Arcblock - it has given me a 40x return so far which is great.

It could end up giving me over a 100x return or it could crash any day so it is not an altcoin I am super confident with it is just one I got lucky with buying near the bottom last year and it has done extremely well since.

I put profits into 3 altcoins in the current top 40 I believe will 10x at least this bull run.
sr. member
Activity: 2422
Merit: 357
May 17, 2024, 04:45:33 PM
#24
If you made your mind that you are going to buy y coin with the profits from the x coin and if you find pair of x-y coin in the exchange you trade then I don't think there is any reason to sell for USDT then buy with USDT cause it's just double your trading fee and consumes more time than what it is supposed to be.

If you made profit from altcoin then I suggest you to cash out the capital first which you just withdraw or invest in BTC then diverse the profits into multiple new coins will increase the returns.
To lessen the fees, and if you’re still planning to reinvest it, better to swap it directly but still it will be your choice. Taking profit is always advisable, and you should not hurry to reinvest it, again you should came up into a good investing strategy so you wont lose the profit you make. Reinvesting until you get the profit that you desire is always the goal.
full member
Activity: 560
Merit: 100
Eloncoin.org - Mars, here we come!
May 17, 2024, 04:43:14 PM
#23
If you made your mind that you are going to buy y coin with the profits from the x coin and if you find pair of x-y coin in the exchange you trade then I don't think there is any reason to sell for USDT then buy with USDT cause it's just double your trading fee and consumes more time than what it is supposed to be.

If you made profit from altcoin then I suggest you to cash out the capital first which you just withdraw or invest in BTC then diverse the profits into multiple new coins will increase the returns.
I'll go with swapping because it's very important to speculate the necessary projects in the space. We invest in altcoins with the intentions to earn enormous profits at our ends although it might seem difficult at some random phase but it doesn't mean we should let our guards down. You made your points and it's important scenario to always know the amount of profits you're willing to convert and if you missed out on a project, we should never back down from accumulating the desirable profits for our end.
sr. member
Activity: 490
Merit: 325
May 17, 2024, 02:25:02 PM
#22
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

A lot of people, not me made this mistake in the last bull run. What they did was after making huge profits from altcoins the invested, they reinvested the same money into altcoins that has not pumped yet and that's who they made one the biggest mistake they will never forget, they lost most of their profits investing in those coins, many of them even died and never resurrect again.

My advice is that if you are holding a good coin and you know that the coin has potential to move up for more, why not live them instead of going into another dangerous coin that may even fail you. The devil you know is better than the angel you don't know, so be careful with the market liquidity exits from whales.
hero member
Activity: 2366
Merit: 793
Bitcoin = Financial freedom
May 17, 2024, 12:41:26 PM
#21
If you made your mind that you are going to buy y coin with the profits from the x coin and if you find pair of x-y coin in the exchange you trade then I don't think there is any reason to sell for USDT then buy with USDT cause it's just double your trading fee and consumes more time than what it is supposed to be.

If you made profit from altcoin then I suggest you to cash out the capital first which you just withdraw or invest in BTC then diverse the profits into multiple new coins will increase the returns.
sr. member
Activity: 728
Merit: 388
DGbet.fun - Crypto Sportsbook
May 17, 2024, 11:39:54 AM
#20
Not a good plan, most people have done this and in the end they would have done better if they held the first coins, the thing is it's not easy to find gems.

If one project give you 10x return it is not even an altcoins season yet, it is good to take some profits off the table but it is likely goung to be a bad idea if you invest all that money into another altcoins, because they might not perform very well.

A gem is a gem, when a full alt season starts they will blow through the roof, and your newly selected altcoins might not do very great like the first picks, stop jumping from one to another project.
sr. member
Activity: 700
Merit: 270
May 17, 2024, 11:13:14 AM
#19
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?
Why not sell it, use the USDT to invest in bitcoin, altcoins are not reliable like bitcoin. New altcoins are not promising, because I know as an investor, you would like to hold for a long time, Bitcoin allows you to hold for a long time and you will eventually get your return on investment upon holding. So I will advise you take the profit and invest in a stable coin like bitcoin, it seem to me like you are more involved in altcoin investment, which is more like exploring but try and also do more on bitcoin.
full member
Activity: 868
Merit: 202
May 17, 2024, 10:26:33 AM
#18
Thanks for the replies so far.

The altcoin I have just taken profit on is Arcblock - I was lucky and got in last year at $0.11 and it has just reached a new all time high of $4.26 so almost given me 40x return so far so felt I had to take some more profit.

I sold to Usdt and then with that Usdt I topped up my bags on 4 other altcoins I already have in my portfolio that I believe will do well this bull run.

that's very good to hear, congratulations to you. your decision to diversify into 4 altcoins at once is also quite good, because putting everything in 1 basket is not good either. but i have a question, do you also invest in bitcoin? because if you hope that in the bull run the 4 altcoins you hold will rise, you should also be sure that bitcoin can provide you with the potential for quite a profit.
legendary
Activity: 2268
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Fully Regulated Crypto Casino
May 17, 2024, 10:18:31 AM
#17
I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?
I think you cant simply trade directly on cex on which your token can be convertible to another token but you mist have converted yet to usdt cause only few might be supported. But on some dexes there you could simply convert to other tokens but expect some gas fee is much bigger than normal queue.

I think in terms of fees both are fine.
hero member
Activity: 2282
Merit: 795
May 17, 2024, 10:04:44 AM
#16
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

It really depends on your preference if you want to do it or not.

Personally, I would like to convert my altcoins to BTC given the potential of the latter to skyrocket on its price. From there, I will HODL until I am comfortable enough with its price on the market when I determine that it is ripe for withdrawal.

You may consider keeping them also in such altcoin in order to avoid paying extra fees, etc. but be reminded that the movement of some certain altcoins on its price are relatively lower in volatility compared to BTC.

IN CONCLUSION:
Depends on your preference but I highly recommend that you convert it to BTC for both short or long-term investment/HODL.
hero member
Activity: 812
Merit: 560
May 17, 2024, 09:53:00 AM
#15
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

You can use this idea to sell the coin you have already make profit on, hold your asset in usdt, then target another coin which is already on dip and invest on it with your profit from initial investment, then the real capital should then be reinvested back into the coin by buying it again at dip, then hold the two investment altogether till the market rises before you selling them
full member
Activity: 462
Merit: 205
Duelbits.com
May 17, 2024, 09:18:57 AM
#14
Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?
swapping to USDT remains the best because its the most likely coin to be able to be swapped amongst other coins out there especially when it has to do with altcoins if you wound wan to reinvest in other altcoin i don't think its going to be easy to swap directly from one altcoin to another because some of them may most likely be on different blockchain or may probably be to expensive to swap directly on most of the exchanges but with USDT it feels like actually paying in dollars to be ale to buy the coin and that's why it still remains a better option.

USDT appears to be the universal coin amongst cryptocurrencies because with it you will be able to probably get to be able to get to purchase both bitcoin and other altcoins in the crypto market but then you cant get to swap all altcoins directly to other altcoins and even bitcoin in most cases.
sr. member
Activity: 588
Merit: 338
May 17, 2024, 01:56:59 AM
#13
I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into fiat and then buy the new altcoin I want with the fiat?


Be clear between fiat currency and stable coin. In cryptocurrency, it is more convenient if you swap your altcoins to stable coin, and swap stable coin to other altcoins. Selling to fiat currency is less convenient and maybe can relate to tax too.
In cryptocurrency it's much better to swap your altcoins to stablecoins, and when you want to buy another altcoin, you'll just swap back to buy the one that you've chosen, it's more convenient that wey instead of going through the process of converting it to fiat, and then using it to buy the altcoin again. Another advantage of holding stablecoins is that it gives you the opportunity to watch out for a profitable altcoin to buy, without worrying about whether price will dump on you, while you're waiting.
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