I would rather call it diversifying my portfolio. If one asset where to gain a lot more than the others in the portfolio, then simply sell and buy into other alt currencies.
If you have BTC then simply buy some of alt currencies so the total weight of say BTC is equal to the ratio in the portfolio you wish.
Topic: Reinvest profits (Read 200 times)
It is not wise to bank your gained btc/altoins and reinvest again when price drops. Whole strategy should be always multiplying btc/eth. you can convert into tether while you are willing to sell which has fix value at 1$ and reinvest while price comes down.
Thanks HabBear! I was looking at that however that option wants an actual bank account number to deposit to. I would rather not deposit the gain into a bank account, rather buy more Cryptocurrency with it. Is there a way to place that money into a "holding place" without a bank account to use to purchase right away again?
Thanks again!
Thanks again!
As HabBear said, there is no reinvesting, since there is no revenue. One example of reinvesting could be this one: If holding bitcoin would give u some fiat every week or month and then you buy more bitcoin with that fiat u get as reward from holding bitcoin. You would be reinvesting the profits u gained into bitcoin.
In Coinbase, or any wallet for that matter, how do I reinvest profits back to more bitcoin/altcoin?
Cryptocurrencies don't have profits (because they don't generate revenue). I think you're referring to your investment gains, yes?In Coinbase, or any wallet for that matter, how do I reinvest profits back to more bitcoin/altcoin?
In Coinbase you transfer Bitcoin, Litecoin, or Ethereum to your fiat based wallet (if you live in the US you'll have a USD wallet). Those funds sit in the fiat wallet until you're interested in buying Bitcoin, Litecoin, or Ethereum again.
In Coinbase, or any wallet for that matter, how do I reinvest profits back to more bitcoin/altcoin? Do I have to sell what I want to reinvest then buy again? .....seems like kind of poor methodology...
Thanks!
Thanks!
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