Hi Friends,
I hope you all are enjoying the BTC ride
in Some youtube videos I heard some analysts talk about taking profits in bitcoin without selling bitcoin. some of them even said that they doubled their Bitcoin amount in this bullrun. They don't explain how exactly to do that.
I tried to research and can't find any way to do that in any of the exchanges I use such as kraken, bittrex or coinbase.
The only way I know of, to take profit of bitcoin bull run is to sell some bitcoin which means the bitcoin holding will reduce.
So, I am just wondering is it really possible to take profit without reducing bitcoin holding? Am I missing something here?
Thanks
I hope you all are enjoying the BTC ride
in Some youtube videos I heard some analysts talk about taking profits in bitcoin without selling bitcoin. some of them even said that they doubled their Bitcoin amount in this bullrun. They don't explain how exactly to do that.
I tried to research and can't find any way to do that in any of the exchanges I use such as kraken, bittrex or coinbase.
The only way I know of, to take profit of bitcoin bull run is to sell some bitcoin which means the bitcoin holding will reduce.
So, I am just wondering is it really possible to take profit without reducing bitcoin holding? Am I missing something here?
Thanks
In our country, we have a local wallet apps where you can store your bitcoin and other digital currency. On this wallet apps even you didn't sell your bitcoin, if the price increased your bitcoin also increasing, so it means if you buy bitcoin at a lower price and just put on this wallet without doing anything, if the bitcoin price increase, you will surely gain profit, but in order for you to benefit your profit you need to convert it directly into a fiat money without selling in exchange.
But usually in crypto exchanges, you have to sell your bitcoin at a high price in order to make money or to gain profit.