When To Cash Out Your Crypto?

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(Edited)

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At the beginning just to clarify some things... This is not financial advice... This is just my personal opinion about certain things... Keep that in mind and make your own decisions.

It is that time when crypto is going up for 5, 10, 20 percent, and people that have "weak hands" are looking to cash out. But you are not one of them... You are smarter, and you are here for the long run... You are here to make a change in your life...

So what would be your perfect time to cash out your crypto earnings? We are not the same and every single one of us has a different plan for its future... So, there is no general answer to that question...

My cash out time isn't the same as yours... That is just normal as we didn't invest the same amount of money in cryptocurrencies... We didn't invest the same amount of time, and our goals are different...

I have shared with you my personal "plan" for my crypto-journey in the video, so if you are interested, take a look...

What is your plan? if you feel comfortable sharing it with others, please use the comment section for that...

Thank you for your valuable time,

~ph~

When To Cash Out Your Crypto.jpg


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23 comments
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You are smarter, and you are here for the long run... You are here to make a change in your life

The problem is most people can’t think for themselves and they can’t think longterm.

No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant

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The problem is most people can’t think for themselves and they can’t think longterm.

That is something that is coming up more and more often. I totally agree with you that people have partially lost the capacity to build their own opinion and they need somebody else to tell them what to do. And for such people to make plans or set goals is just not possible...

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exactly... I like to call this period of time as the "microwave society-thinking"... People expect everything NOW, and the long-term is tomorrow...

That's not how things work...

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That's quite an interesting topic that you have choosen for your vlog.

I believe in accumulation and I want to build up a second income in crypto that can balance a lack of income from my fiat revenue. So as long as I manage to live on my fiat, I will let the crypto grow. As you said, the idea is to make a difference with crypto.

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We are living in a time of the cryptocurrencies "birth"... This is a unique event, and if we don't use that to "make a difference", we will fail :)

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A couple of years ago, I would've never thought I would believe in crypto & the future of it as much as I do now. Now, I am even thinking about Silver as well. Being a part time day trader in the average stock market, I have seen myself transitioning from trading stocks to accumulating crypto. What an amazing journey so far!

The USD is losing its value more & more each day so I am going to keep investing & accumulating in crypto & now some precious metals. I agree that people need to keep the big picture in mind. We all are in a society that has a mentality of immediate gratification in things such as this. So, people want to cash out so quickly when they see a dip in the market or need a quick fix in general. Usually, the good results are short lived.

What I would like to see is more & more people jumping onboard & educating themselves in these things. The world is crazy right now & the future is uncertain. So, it is good to think long term and prepare ourselves in the ways we can control. Critical thinking & planning is a must.

Great video, Zoltan! I like how you address a wide range of topics & do it so well. Keep shining your light out there :) 💚

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Times are changing, we are changing... A couple of years ago I was learning about candles, charts, systems, and was doing forex trading... after some time I bought my first BTC (part of the BTC :P)... and sold it for $250... lol...

In 2017. came back to crypto and still here... using all my previous experiences to hustle... Coincidence? I don't think so...

Great times are coming for crypto, I'm sure in that... more than in anything else...

Thanks for your comment, Jenn. Appreciate your support!

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Seeing the title of this video, I was thinking that's the answer I'm looking for. Almost every time I cash out crypto, it rises more and higher. lol...

I like what you said. When you touch your target point/goals, you can cash out and get in again when the price falls. We have been thinking from 2018 that the crypto price would go up and hit the higher level. Since then, it has not happened yet.

Good to see the present situation. Thank you @ph1102 for sharing this.

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Hmm...

Almost every time I cash out crypto, it rises more and higher. lol...

To hit the peak of some price is like to win on a lottery, so you don't have to chase that at all... just try to fulfill your goal, and don't look back...

We have been thinking from 2018 that the crypto price would go up and hit the higher level. Since then, it has not happened yet.

BTC was a bit over $3K, and now it's over 11K... How do you mean that it didn't hit a higher level? It didn't hit new ATH, but that is just a question of time... ;)

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Back then the crypto price was the all-time high. Bitcoin was around $20K. There has been a lot of development but its price has not increased that much yet.

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You are right, but it went down a lot, and get back... can't say that's a bad thing :) It can't go only up... :)

Just be patient... ;) We will get there... ;)

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I'm pretty similar to you to an extent, I mostly strictly focus on Crypto from a long-term perspective, which is why I mostly take a HODL view with the coins that I really believe. The times for when I will cash out are often during times when there may be an expected downturn with the market for said crypto and in that instance, that is when I'll cash out and take profit.

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I was thinking in that way and missed that train in 2017/2018... So, I decided to create my OWN goal and cash out (part) when I hit them...

Thanks for the comment! Appreciate it!

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I totally agree with you approach. Keep the crypto for the long run. Cashing it out for a few dollars doesn't do a thing for me. The world is just starting to take crypto seriously. I want to have a bunch of it when it finally dawns on everyone else that it has value.

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Exactly, Bob! I'm so happy that you got this in a very short time! When everyone will want to get in than we should cash out... ;)

Thanks for the comment!

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In finance,There should be no entry plan if you do not have an "exit" plan.

Make sure either you have cash out plan for your crypto or an inheritance plan laid out.

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Yes! You are right... The problem with "crypto-investors" is that a lot of people are just and "ordinary folks", without experience... And because of that, we can read stuff like:
"I will never sell my Bitcoin", and similar... which has no point at all... :)

Thanks for a great advice!

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As you said different people have different plans, in poor countries they might use this as a means of income and cash out once or twice a month, while in richer countries they might use this as a saving or retirement fund.

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Yes, there is an obvious difference... Some people survive thanks to Hive, which just adds more to the importance of crypto and decentralized social media networks!

Thanks for the comment!

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Thanks for sharing your thoughts about this Zoltan, long term plan for me with Hive and CTP, which is the majority of my crypto holdings, is to build stake and earn passive cashflow from that which will go into more stake and higher cashflow, but also to use CTP tokens as the "cashout" through Firepay and spend it on my affiliate marketing part and that is where I will actually cashout to myself and have an income, that is my plan anyways.

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Sounds like a good plan... I would like to retire in 4-5 years... :)

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