Take Profits in BTC or USDT - page 5.

DarkDays

legendary

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Quote from: FIFA worldcup on November 21, 2020, 02:55:00 PM

There is some confusion when it comes to BTC Market or USDT Market and sometimes it is difficult to decide to take profit in which currency, BTC or USDT.

I give you an example here and hope anyone can explain in detail.

ETH was 0.035 BTC few months ago and it was around 400$ USD. I did not took the profit and did not sell Eth.

Today, ETH is 0.028 BTC but in USD it is around 540$. (buz BTC price is high)

Now if i had sold it earlier at 0.035 BTC, so today's its worth would have been 660$.

So what's is the best approach in this case to get the maximum profit ?

For me it would make sense to cash out and take your profit in the non-volatile coin, so in this case USDT. Of course, the problem with doing this is that you exit the ETH or BTC market entirely but at least you secure your clean profit. On the other if you take your profit in either ETH or BTC then you're still at the risk of volatility so in that case to me you haven't secured a profit as that's still liable to the market volatility.

I hope this makes sense.

Becky666

full member

Activity: 756

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In so many times when talk about profit taking between Bitcoin and USDT, i usually prefer to take profit with USDT becasue of it stableness as a coin when compare to Bitcoin. We'll understand the crypto market volatility and for anyone stay on a safer side they ought to choose stablecoins over unstable ones. If you choose Bitcoin to take profit on, what about it volatility? it could be a loss or a win but in taking profit in USDT nothing of such will ever happen.

BrewMaster

legendary

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There is trouble abrewing

Quote from: larus on November 22, 2020, 05:41:37 AM

It always better to use usdt as means of profit. Its much stable and much easier to calculate

yes and some day in the future, maybe tomorrow or maybe a couple of years from now you try to spend your tether and you see the network doesn't exist anymore. then you open their website and see 3 letters saying "F" "B" "I" shut them down.

chip1994

sr. member

Activity: 868

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HEX: Longer pays better

Quote from: FIFA worldcup on November 21, 2020, 02:55:00 PM

There is some confusion when it comes to BTC Market or USDT Market and sometimes it is difficult to decide to take profit in which currency, BTC or USDT.

I give you an example here and hope anyone can explain in detail.

ETH was 0.035 BTC few months ago and it was around 400$ USD. I did not took the profit and did not sell Eth.

Today, ETH is 0.028 BTC but in USD it is around 540$. (buz BTC price is high)

Now if i had sold it earlier at 0.035 BTC, so today's its worth would have been 660$.

So what's is the best approach in this case to get the maximum profit ?

Your way is also the most profitable but risky one. Your case is in the bull run, and imagine if the market goes the opposite way

So this is not a strategy anyone can use. If the user of this strategy does not fully understand the laws of the crypto market, then surely the account will be divided many times.
Be careful with this trading strategy, which only encourages players with long experience in the Crypto market.

error08

hero member

Activity: 1036

Merit: 514

Quote from: jerry0 on November 21, 2020, 07:31:39 PM

Is there a reason why majority of altcoins cannot be traded with usd or usdt like btc, litecoin etc? Why don't exchanges allow these to be paired then you have usd or usdt? Because if you want to earn money in usd or usdt... well you need to pay another fee to go from btc to usd/usdt.

Can someone explain why? Like if you trade btc, eth or litecoin or chainlink or bitcoin cash etc... you can trade it with usd or usdt. But why not majority of those altcoins?

Depends on the exchanges, there are some exchanges that support various altcoins/BTC pairs.
Why not include the majority of altcoins? Because too much hassle to list all those infamous altcoins with low trading volume.
If there are many requests from users or alts developers, the exchanges may consider listing those coins.

Nalbo

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If a market is bullish, it would be better to take profits in bitcoin and if the market is bearish, you take profits in USDT as you can use them to buy each other when the prices are beneficial to you. But if you are not sure where the market is heading, you should make an prediction on the future of bitcoin and if you believe it's over valued or under valued.

Shasha80

sr. member

Activity: 1876

Merit: 318

It is difficult to decide which one is the best for take profit, depending on each of our strategies. In short-term trading,
I think it is safer to choose USDT, because the profit you make will not be affected by a volatile market. But if indeed
for long-term trading, you should choose Bitcoin, because the price of Bitcoin always goes up, so the profits we generate
will be of higher value in the next 3-5 years.

manfredmann

member

Activity: 518

Merit: 21

Quote from: larus on November 22, 2020, 05:41:37 AM

It always better to use usdt as means of profit. Its much stable and much easier to calculate

And I guess it could also save you from high fees if you will going to convert it to fiat currency. The third party services like in those banks really get huge fees and that is unlikely to be if still you wanted to buy bitcoin after the ATH. Yes, USDT and other stable altcoins would be much more ideal in my own opinion. I wish I had bitcoin now and that I can able to sell it this ATH. Unfortunately I am not lucky in cryptocurrency even in promoting altcoins. Well, I do so hope in the future I could have more luck.

Cryptotourist

hero member

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Homo Sapiens Bitcoinerthalensis

Quote from: larus on November 22, 2020, 05:41:37 AM

It always better to use usdt as means of profit. Its much stable and much easier to calculate

Yeah right, follow the orange line. Tongue

larus

jr. member

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It always better to use usdt as means of profit. Its much stable and much easier to calculate

Cryptotourist

hero member

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Homo Sapiens Bitcoinerthalensis

I like things simple.
That means that if my sole objective is to acquire more BTC, then I only trade on BTC pairs.
I don't even look at the price of alts in $.

Long BTC, short everything else.

Kopetunto

member

Activity: 630

Merit: 10

in my opinion for profit, it is certainly very good at USDT, because profit can be stable and not shaky,
if you use Bitcoin to take profit it can make a sharp knife and can kill you, because the profit you have can be reduced.
in USDT you will be fine and dont emotional.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

I have always been worried about the explosive growth in the amount of USDT.
https://coinmarketcap.com/currencies/tether/
When billions of tokens are printed every year, and there is still no audit of Tether.
We only have to believe these numbers and we do not know how many tokens will be printed tomorrow.
https://wallet.tether.to/transparency

wedosgibas

member

Activity: 535

Merit: 33

here we go

Looks like you want us to guess or speculate, it should be simple, I'll take profit if that enough, in BTC or USDT, it depends on your asset needs, it's safer on USDT and looking at market conditions. Now holding crypto doesn't take long (over a year) to profit because the price fluctuation is very high, and the highs and lows change very quickly, unless it's your free money.

michellee

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🐺Spinarium.com🐺 - iGaming casino

That will be your choice. But if I can suggest, you should take profits in bitcoin, so when bitcoin price increase higher, your profit will be bigger. If you can profit in bitcoin, you can make another profit in usdt, which means that it is a double profit. But if you feel that you want to take profit in usdt, you should sell it in usdt.

But as we believe that the bitcoin price itself can increase so high, it is better to have more bitcoin from trading, and that means you should make a profit in bitcoin and not in usdt. We can suggest you anything, but the final option will be yours. You need to think twice, whether to take a profit in bitcoin or usdt.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: jerry0 on November 21, 2020, 07:31:39 PM

Is there a reason why majority of altcoins cannot be traded with usd or usdt like btc, litecoin etc? Why don't exchanges allow these to be paired then you have usd or usdt? Because if you want to earn money in usd or usdt... well you need to pay another fee to go from btc to usd/usdt.

Can someone explain why? Like if you trade btc, eth or litecoin or chainlink or bitcoin cash etc... you can trade it with usd or usdt. But why not majority of those altcoins?

There are more traders who prefer to trade in BTC pairs than in the USDT pairs. That's the reason you will find that only the most popular coins are paired with both USD and BTC and majority of the coins have only BTC pair, which is fine in my opinion.

As fas as OP concern, it depends on your buying position. If you bought in USD pair, you should continue your trade in USD and if you bought the altcoins with bitcoin, the ultimate goal should be to increase the satoshis.

kentrolla

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Let's keep it simple in terms of crypto currency BTC will always remain in the king no matter what ever happens, because the popularity is widening day by day moreover some big corporate companies have started BTC as a payment system. Is this not a good sign of development? Just asking. As far as I know we are going to see a modern era and BTC will rule it.

pakhitheboss

hero member

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Top Crypto Casino

I guess the best option for you now is to sell your ETH in USDT. If you sell it for Bitcoin you might then need to wait a little bit longer for your Bitcoin price to match the current USDT price.

If you can HODL then the best option would be to get BTC and wait for it to moon by the end of this year.

pooya87

legendary

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that is a very common problem with altcoins. they always dump in the long run without exception specially when they have unlimited supplies like ethereum does. but since altcoins are traded against both bitcoin and USD whenever bitcoin price goes up their USD values seem to increase whereas they have been really dumping but sometimes at a slower pace so the illusion of a rise is still there.

the correction option is to always day trade altcoins (in short term during their pumps) and go back to fiat (no tether since it is yet another centralized altcoin with high risk) or bitcoin.

taufik0911

full member

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HEX: Longer pays better

if I were you I would choose which one is greater in value
for example, as you said at the beginning of buying ETH at a price of 0.03 BTC or around 300 USD then at this time the price of BTC went up so that the price of BTC against ETH would decrease for example to 0.02 or around 500 USD
You must be confused if you have to choose to change it to BTC or USD
the wrong choice is to change it to USD instead of BTC because if I change it to BTC then I lose because my initial investment is 0.03 BTC and if I change it now what I get is 0.02 BTC or a loss of 0.01 BTC then I change it to USD where the initial investment value is 300 USD and now it has become 500 USD

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