Knowing the right time to sell an asset is a perennial question you have to deal with in your career or life. Call it a strategic decision, but the timing is a crucial characteristic of success. It becomes even more complex when trading with the highly volatile Bitcoin cryptocurrency. Liquidate Your Coins-
The lure of Bitcoin is always attractive to potential investors. With the crypto world experiencing a massive influx, various strategies exist to sell Bitcoin tokens.
If you like to know more developments, articles, analyses, and the best B2B online trading platform for forex trading, you can follow some reputed financial newspapers and websites.
Let us look at four of the best methods to liquidate your coins.
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Quandary- Liquidate Your Coins
Investors always have difficulty when it comes to selling their assets. You must be cautious before investing by considering the volatile nature of the currency. It is better to be safe than sorry by deciding to risk only a small portion of your wealth.
The volatility of Bitcoin helps both short and long-term investors. Higher the risk, the higher the gain if one approaches this aspect prudently. Choosing the right moment to sell can be tricky and confusing because Bitcoin is an extraordinarily volatile currency.
Ultimately Bitcoin investors will have to make choices like two sides of a coin. One is whether to hang on to the currency, patiently bracing for the long-haul, while the other instinct is to sell the Bitcoin to get quick returns.
Investors who have the patience for the long grind are propping up the blockchain technology. On the other side are those seeking instant success. These investors will be aiming to ride the tidal wave of Bitcoin fluctuations seeking to make huge profits in a short time. The coin’s volatility makes it a tricky prospect, but it can be very effective too.
Analysts- Liquidate Your Coins
Some analysts recommend cashing in on investments when you have financial problems by selling between 30 to 50 percent of their Bitcoin holdings. It is better to retain at least half of your investment because the possibility of the value of BTC rising in the future is always there, and you may regret it if you liquidate all of your assets.
Another strategy is to play it safe by recovering your original investment. For example, if your Bitcoin is worth $100, you don’t sell it until its value has doubled, making a profit on an investment where the potential for further growth in the currency is always there.
Then some investors have been loyal to a currency like Bitcoin for years and are reluctant to part ways with it. They will hold onto it for as long as possible like misers unfazed by significant dents in the coin’s value. Their optimism brims that more people are looking to invest in the cryptocurrency market.
However, once you have decided to sell, it is essential to know the process. The sale of Bitcoin has never been so easy and is likely to become even more straightforward.
Some of the ways of selling Bitcoin are through exchanges, direct trades, in person, or via online platforms.
The simplest method of selling Bitcoin is via exchanges. They act as the intermediaries for the trader looking to buy or sell Bitcoin. After creating an account and wallet with the exchange, it will link your bank account details. To send currency to another account, you will need the receiver’s public address to send the Bitcoin to their account. The sale is complete when you can transfer the currency to someone else’s account. Coinbase, Kraken, and Bitstamp are some of the reputed exchanges.
If you like a hands-on approach, you can make trades directly. It gives you greater control over how much to sell at a given time. After setting up an account on this trading platform, you will come into direct contact with potential buyers with no involvement of third parties. You can use some reliable platforms like Coinbase, BitBargain, OpenBitcoins, and Bitsquare.
One of the simplest ways of selling your Bitcoin is in person. It is a popular method of ensuring privacy and is helpful for people who don’t have time to go through the exchanges or trading platforms. This method is beneficial if you’re looking to sell to your family members or friends but can be more complicated when dealing with strangers.
In the case of P2P marketplaces, there is no direct exchange of funds. It brings together people with different needs. This system is great for users who want to buy Bitcoin using their credit or debit cards without the need for complex registrations. The platforms that offer P2P trades on Bitcoin are Brawker, Purse, and Open Bazaar.
Deciding when and where to sell Bitcoin is a difficult question. To benefit from bitcoin of sale and be more effective, you need to pay attention to detail.