What's Your Strategy For Selling Cryptocurrency?
We talk about how to buy and earn cryptocurrency, and what strategy you can use. You can accumulate crypto over time and build your portfolio. It is also very important how to sell your crypto and get the best return from your investment.
Now we are in a bear market, one of the best times to accumulate and grow your crypto portfolio. It is very exciting when the crypto market changes its trend and starts going up. Who does not like to see their portfolio grow up in number? What gives the pain to look at, now that gives happiness to look at.
You don't want to miss out, so you sell your crypto. You feel great then. What happens when you see the crypto price still go up, but you just sold everything? You feel really bad because you work hard in a bear market and hold your crypto. You grow your portfolio over a period of time, but don't get the best return. Now the crypto market still goes up when you have nothing to sell.
On the other hand, the crypto price hits an all-time high, and you are very happy to see the price. You think the price will go up more, so you just hold your crypto. Then the price starts falling. You assume it will go up again. After all, you don't want to sell and miss out on getting more returns.
You feel the stress of watching the consistent fall of the crypto price, do the calculations of how much you would make if you had sold the top, and how much you will lose to sell your crypto now. It holds you back from selling and you wish the price would go up somehow so that you can sell your cryptocurrency and exit from the market. What happens, you end up holding your crypto, the bearish market turns into a bear market.
If you are into crypto, you can resonate with that. You can follow your strategy to sell and exit from the market. Dollar-Cost Averaging (DCA) out of the market can be a good strategy. You don't sell everything at once. When the price goes up, you sell a small portion of the crypto that you hold. You keep selling over a period of time. Even when the crypto market hits ATM, you will have crypto to sell and get the returns.
So how do you sell your crypto and exit from the market? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
There is no magie just you could use Binance Pay feature for selling crypto assets you will find buyers at time, it is little complicated on other platforms like Kucoin or Probit or Coinbase to find seller.