So I have seen Coinbase is the main "source" for buying/selling BTC, but I was wondering if anyone has used the method of converting bitcoin to another currency when it reaches a high point, then converting it back to BTC when it is low enough.
If so, what wallet(s), exchanges, etc. are you using? And more specifically, what crypto do you recommend converting BTC to, in this situation?
Any help is appreciated!
If youre making use of Coinbase youre able to exchange your coins for another coin right on the wallet. Exampleyou can change Bitcoin Cash for Bitcoin right on the wallet. And thats not only available on Coinbase, there are others too like Xapo. I was able to use Xapo to exchange my Bitcoin Gold (BTG) back then to Bitcoin.
But thats not a way to escape the loss that will happen when the price of coins start falling, cause every coin falls with Bitcoin. Thats another thing that makes Xapo seem a bit better cause youre able to change everything to your local currency and avoid the loss.