Question on moving out of BTC into USD/EUR

Dmitry.Vastov

hero member

Activity: 840

Merit: 520

Quote from: GalacticCitizen on March 03, 2018, 06:50:01 AM

Ok, so i have a question around this.

After the next alt coin rally, i will be looking to exit around 75% of my portfolio into USD or EUR, so that when there is another BTC dip, i can buy in, rather than holding BTC from the top down.

im not looking to cash out to my bank, just hold in USD or EUR (im in the UK)

i dont really want to use Tether, as im a bit wary of that going boom and taking my money with it.

is the best way to trade into EUR or USD on GDAX and hold it there?

any help, or advice on how people do this greatly appreciated, as ive only been in this a few months and need to work on a plan.

Your concept about BTC is quite impressive, as u are not 100% reliable on one thing but I just want to advice you one thing that at least hold some of ur BTC and not sell them all of the sudden because BTC is an asset and is an resource that could be preserved for future because in future everyone will be using BTC, so the valuation will definitely going to be increase, so just hold some BTC and use ur remaining money in other investment.

Arngrim

member

Activity: 182

Merit: 13

Looks like a lot of people here are well informed specially about that Tether which is really scary. 1 is to 1 is a good thing but also risky.
If not in bank then a large amount of money is hard to be taken out.
Local bitcoin is your option but where will you store that USD?
You might want to look for an exchange or website wallet that does that kind of thing.
Something like Coinbase but country restrictions is the problem.

alyssa85

legendary

Activity: 1652

Merit: 1088

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Quote from: GalacticCitizen on March 03, 2018, 06:50:01 AM

Ok, so i have a question around this.

After the next alt coin rally, i will be looking to exit around 75% of my portfolio into USD or EUR, so that when there is another BTC dip, i can buy in, rather than holding BTC from the top down.

im not looking to cash out to my bank, just hold in USD or EUR (im in the UK)

i dont really want to use Tether, as im a bit wary of that going boom and taking my money with it.

is the best way to trade into EUR or USD on GDAX and hold it there?

any help, or advice on how people do this greatly appreciated, as ive only been in this a few months and need to work on a plan.

If you are in the UK, your best bet is making an account with Kraken. You can then send bitcoin to Kraken and sell it for Euros.

It's pretty easy to withdraw your euros to your UK bank account - under the euro withdrawal section of Kraken, list your UK bank with it's IBAN and BIC. When you send euros, your bank will receive them and convert to pounds sterling (the bank usually charges a 5% forex fee). You usually get your money within 24 hours of requesting a withdrawal.

GalacticCitizen

newbie

Activity: 3

Merit: 0

Ok, so i have a question around this.

After the next alt coin rally, i will be looking to exit around 75% of my portfolio into USD or EUR, so that when there is another BTC dip, i can buy in, rather than holding BTC from the top down.

im not looking to cash out to my bank, just hold in USD or EUR (im in the UK)

i dont really want to use Tether, as im a bit wary of that going boom and taking my money with it.

is the best way to trade into EUR or USD on GDAX and hold it there?

any help, or advice on how people do this greatly appreciated, as ive only been in this a few months and need to work on a plan.

Topic: Question on moving out of BTC into USD/EUR (Read 147 times)