Learn to Exit Easily Inside Trading Game with Uphold

Whenever you ask any trader, especially in the crypto space, what is the biggest lesson to remember during the trading game?

Buy low, sell high

Some would say go big, and they treat it like a gambling game; and some would treat it as stored value especially for BTC, they will hold on no matter it bulls to the moon or crashes to -1000% mark

But the smart people, they know when to hop on, and when to exit.

I personally too struggled whether when to exit, but as I didn't notice that BTC hit above 17K USD I should have taken the opportunity to just start existing, at least 10% of BTC that I am holding.

(Learned from another crypto trader's sharing today)

And from all the other exchanges I have experienced, Uphold Wallet-cum-Exchange is considered the easiest to shift my funds around even as little as $1 because if not mistaken, they treated it first like a wallet, with super easy exchange capabilities.

And I personally think it is here to stay as long as Brave Browser is still having good relations with this wallet and Brave with BAT is still widely used.

Ahem... my apologies for shilling Uphold

That is because no other exchanges would allow you to swap your cryptos to tokens as low as $1 USD! 😅

I mean... come on, zero commission for exchanging? It beats the heck out of calculating all the trading fees and thinking how much I have lost along the way; not to mention a minimum $10 USD trade minimum limit restricted by other exchanges.

I digress... 😅

Anyways, back to when to exit... strategy!

Thanks to Digital Asset News reminder about BTC won't go up to 100,000 USD overnight and there will be ups and downs from time to time before it climbs up to the ultimate rocket price that many longed for, I was greatly reminded that when I received the $100 USD worth of BTC, right now it has gone up by 75%!

I COULD wait for it and hope it will be doubled, but hey no one knows what is is going to happen.

Remember the BTC craze that went up to 20K and then dropped until 4K?

If you were one of those who purchased BTC at its highest mark, I'd just like to say I am sorry and hope you didn't cry too much and held on because it is still growing.

However, seeing that it could still have a potential to go both ways, why not starting to sell off a tiny bit of the access profit above the capital in order to set aside ready for any dip?

That's what DAN is doing and he welcomes anyone to tag along with his idea.

Well, I did, and I decided to choose Stablecoin USDT at the moment since it is one of the supported crypto in the wallet.

I could go for other cryptos like LTC / ETH, but if I want to park aside for buy and sell trade, I personally would choose a stable coin.

The good part about Uphold is that it is less complicated than other exchanges where it makes you feel like you are in the trading "warzone", while Uphold gives you the familiar sense of a wallet instead.

Of course, if BTC ever keeps growing I might export it out to a wallet where I hold my own private keys instead.

So far $170 USD (or so) is still quite ok. It isn't life and death situation if anything happens. Probably the only drawback is that because it is in its own environment, there is no import private keys feature from your offline wallet.

But that isn't too much of a problem. The moment a private key wallet is exposed it should not be continuously used as an off grid stored wallet anymore. These are BTC security 101 I learned throughout the years from many expert advises.

So how about you?

Would you make use of stable coins as a parked aside crypto for trading stability?

Let me know your thoughts in the comments! I'd love to hear from you!