Is it too early to cash out on my bitcoins (why)? - ProProfs Discuss
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Is it too early to cash out on my bitcoins (why)?

Is it too early to cash out on my bitcoins (why)?

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Asked by H.Donna, Last updated: Aug 01, 2020

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K. Keturah

K. Keturah

Answered Oct 21, 2019

One thing I've come to understand over the years is that there is no single thing that does not come with risk. And things become riskier as you go into the business world. Investing in bitcoin is a huge business, and at the same time, you have so much to risk considering the volatility of its price. To the question, I will like to pitch my tent to the earlier answer provided.

The best thing to do as an investor who is hoping to make a profit out of bitcoin investment is that you can cash out a good percentage of your bitcoin investment at the current rate and keep on investing the rest. This becomes a necessity if, indeed, you don't want to lose at both ends. The frequent changes in the price of a bitcoin is a big concern to most investors. And by investing the rest of your investment in bitcoin, it means you are ready for whatever comes out of it.

 

h. George

Government employee and a part-time content writer.

H. George, Copywriter, MA in English, California

Answered Feb 26, 2018

Most experts recommend leaving at least half or 50% of your bit coins invested and cashing in enough to cover your initial investment. That way in the long run, you won’t have lost any money and it won’t really matter whether bit coin grows or crashes.

If it grows, you will have made a great investment at no real cost to you. If it crashes, you really won’t have lost anything. Of course, if you want to use your bitcoin gains to put a down payment on a house or buy/lease a car without having to pay interest, it might make sense to cash in your bitcoins.

 

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