To Cash Out or Not To Cash Out, That is the Question

There seems to be a bit of divide among crypto earning users on when is the best time to cash out on any given app. Some apps payout once a week, once you surpass a given threshold. These types of apps include Bitcoin Cash Giveaway and ML Crypto's suite of earn apps. Then, there are apps and websites like Cointiply, TipNano, and FaucetCrypto which allow you to earn and build up as much as you want, until you request a payout.

The question then becomes: when is the best time to cash out? Is it a good idea to wait for a price decline, or dip, in your preferred cryptocurrency so that you get more bang for your bits in the long run? This is definitely one strategy to consider. It may be a good time to cash out some Bitcoin, on the recent dip over the past month.

While Bitcoin is still positive on the year, it is possible that in the short-term we could see a retrace to the 50k level. At which point, it may also be a strategic cash out level.

Of course, it is rather difficult to perfectly time the market. I was once told by a financial advisor that "time in the market" always beats "timing the market." Operating under that advice, the timing of a cash out from a crypto earning platform is completely irrelevant.

There is also the school of thought that one should request a payout as soon as the minimum payout level is reached. Why do some folks believe this is important? In the event that a platform shuts down, whatever credits you have not cashed out for crypto are gone forever. There have been many sites and apps over the years that simply vanish overnight. I can't think of an example of one that came back and users were able to retrieve their credits. 

Another reason to cash out as soon as you can is if your account on any platform is ever compromised. Imagine logging into your account to see all of your hard-earned coins drained from your account. You find out it's been hacked. It's very unlikely that there will be any recourse or compensation for you. As we all know, cryptocurrency transactions are irreversible. There's just no way funds could be recovered by a platform, if a user's coins are fraudulently acquired. 

If platforms offer 2FA or other additional measures to secure your account, it's not a bad idea to take advantage of those features. 

Cointiply offers users an enticing offer to keep coins on their platform:

Whatever you decide to do, just make sure you're aware of the risks. I've lost earned "coins" to a few platforms which have done the overnight vanishing act. Some disappear because they were never legitimate in the first place (though it did payout) and some disappear because the operators simply fold. While there was not much lost in either case, it can happen and it's not a good feeling. Most of the apps and websites I use now have been around for years and have solid reputations. 

With all that said, keep calm and keep stacking!