How and when to sell your crypto: A simple guide

What is Cryptocurrency?

Cryptocurrency has become a household term in the last ten years and has witnessed monstrous growth, attracting global investors due to its benefits. However, once you have invested in them, you will want to sell them to get the money you had invested.

Besides wondering how to sell crypto, many investors are often unsure when exactly to sell their coins. Well, there are various ways to sell one’s crypto coins. 

This guide gives insight into how and when to sell crypto for maximum profit. Moreover, it is stored in digital wallets and does not involve third-party intermediaries. Keep reading, to know more about how you can invest in cryptocurrency. 

Read more :- Crypto Signals Profit

How to sell crypto?

There are various ways to sell a crypto coin you hold in your wallet. Some of the most effective ways are as follows: 

• Crypto exchange

Cryptocurrency exchanges are where you may purchase and sell your crypto coins. However, for the exchange to happen, you need to have an account for this exchange. You might also have to verify identity and connect with your bank account. Make sure to be aware of different restrictions that an exchange may place. Once the account is complete, transfer your crypto and order a sell. Do mention the amount, the asking price for each unit and your preferred currency. 

• Direct trades 

This is another important way to sell cryptocurrency. This can be accomplished in several ways, including by arranging a face-to-face meeting to sell the coin or conducting the transaction online using a dedicated platform.

• P2P selling 

Peer-to-peer trading is when two individuals trade or acquire cryptocurrencies directly. Vendors and buyers register on a peer-to-peer platform, marketplace, or exchange to engage in this trading. After registration on the platform, you can place advertisements for cryptocurrencies to be bought or sold, with a price range specified.

• Crypto ATMs 

Crypto ATMs allow you to easily scan a wallet QR code and sell them for cash. However, compared to other methods, they frequently impose large transaction costs. 

Furthermore, not every crypto coin ATM supports both purchase and sell transactions. Remember this while carrying out a crypto sale via crypto ATMs. In addition, it places daily limits on cryptocurrency purchases.

• Face-to-face 

The value of every crypto swings frequently. So knowing the price of crypto during an in-person transaction is critical. As a result, most crypto traders rely on rates from well-known exchanges. After selling your crypto on a crypto exchange, a wire transfer or automated clearing house (ACH) transfer to a bank account is a standard way to convert your crypto into cash.

When should you sell crypto? 

Specifically, you’ll want to know the proper time to sell your cryptocurrencies, or even better, have a guide on when it is practically possible to sell those coins.

The main principles for choosing when to sell cryptocurrency are not straightforward and are based on several considerations. 

Investment Goals and Targets

• Set Clear Targets: Identify specific [profit levels] to the attainment of which the products must be sold. For instance, you might set up a rule that you have to sell part of the share or stock when its price doubles its initial value or upon some preset percentage gain.
• Align with Objectives: Make sure the selling plan in the sales strategy is feasible according to your financial goals and what you are willing to lose. This plays a critical role in decision-making as it prevents one from making hasty decisions and retaining concentration.

Understanding Market Trends

• Analyze Trends: Follow up on the changes in the market and prices regularly. Therefore, when analysing CFD stocks, such as IBM, look for specific trends like bullish or bearish trends that might inculcate likely sell signals.
• Technical Analysis: Employ technical indicators when describing market features and events. Expect positive markers such as RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and moving averages when looking for the signal to pull the handle.  
• Stay updated: Keep yourself informed about what is happening now, both domestically and globally in the cryptocurrency market. Market forces outside force influence price determination concerning its costs in the industry, including changes in regulations or new technology.

Read more :- How To Trade Crypto

Balancing Instinctual Approaches and Technology-driven Strategy

• Trust Your Instincts: While data and analysis are both important, always depend on instincts because they count as well. Professional traders frequently become gamblers using gambling by trading styles or strategies tied to intuition while trying to shift the odds and values of gains on their part.
• Balance Emotions with Data: To act what is within your capacity is basically about integrating personal experience against learned or inherited instructions, which sometimes include instincts within decision-making algorithms. Do not make decisions based on emotions including the thirst for power, ambition, or hatred.
• Consider Market Sentiment: So what you want to do is immediately start paying attention to the overall sentiment in the market. It can also be useful to monitor the levels of hype and panic, as excessive levels can precede a reversal in the markets.

What are the things to think about before buying crypto?

• To determine if it has a great future ahead, check out its underlying technology, use case and competitive edge.
• Do not be easily swayed by market trends but rather focus on the intrinsic value of cryptocurrencies as well as their sustainability over time instead of short-term price hikes.
• Investigate such aspects of this cryptocurrency as whitepaper, team, market performance and community sentiment to make an informed investment decision.
• Due to high volatility in the crypto market, only invest funds that will have no negative effect on your financial position when lost.
• Instead of all your savings into crypto put aside not more than 5-10% for reasons of risk management.
• Define your investment objectives and establish a plan that encompasses acquiring, retaining or disposing depending upon what you want and what the surroundings seem like.