Yeah all exchanges allow you to swap your crypto gains to actual physical money (fiat) you will need to submit your bank account details to that exchangewhat if I wanted to use it like a bank? Like I toss $10k in a cryptocurrency that’ll go up, then if my investment doubles, I take out the original $10k so I don’t lose money?
Why don't you dollar cost average out and take out your initial investment after a 2x ? Then continue to take 10% profit.Stop losses is not really effective for crypto since its so volatile and i don't think it can be executed on certain DEX's compared to a normal exchange such as binance unless you are using certain tools.
Plus i swing trade/hold stop losses are more for day traders
My FOMO kicks in when i have 5-10x of a shitcoin i hold hoping for more gains which is bad habit
Luckily I fomo'd into Ethereum based DeFi (like Matic, Aave) before the dump and it only retraced towards where I bought in.
I've made a habit of selling and then buying the colossal dips soon as BTC starts looking a little shaky, it hasn't failed me yet alhamdulillah. The only ETH defi I held was uniswap and I sold that to bet on TrumfLuckily I fomo'd into Ethereum based DeFi (like Aave) before the dump and it only retraced towards where I bought in.
Ethereum based DeFi is looking strong.
It is mainly BTC and shitcoins that are dumping hard at the moment.
Toxic bitcoin maximalists caused this dump. They were all arrogant and toxic towards the second richest man in the world. Look at the comments on Elon Musk's tweets.
He has always been kinda off, like denying existence of Rona, but his image is taking an even bigger hit now that he is hurting retail investors' pockets with these Tweets.I lost so much respect for Elon Musk.
I used to think he was a 200 IQ giga genius, but his behavior as of late.. His obsession with Doge is unexplainable.
Thank you you're the real mvpIf you're going to FOMO into some meme sh*** coin set a stop-loss and keep moving it up as it pumps up, that way if the house of card comes crashing down, you're out with a good profit, and if it pumps further, you're still in the trade and able to move it up further to protect yourself.
That depends on the type of returns your looking for, if your happy with 2-5x low risk stick to the top 10 avoiding BTC/ETH, your best bets are ADA, DOT, VET, if I was in your shoes, I would go with ADA, it has the biggest upside.
If however you want to chase 10-100x, which involves higher risks you need to invest in the upcoming DEX's/DFIs/NFTS in the Polka/Solano/Cardano/AVAX ecosystems or any other popular blockchain, the projects in those ecosystems will pump much harder than that blockchain itself.