Last update: June 09, 2016
So we find ourselves at the point where roughly half of the camp says nu paradyme or TLDR BTFD cuz ATH soon-ish.
Roughly the other half says down we go or the whales want to keep the price low it’s absolutely obvious.
Then there are few brave rational ones like MrJozza here who says we might be at the beginning of the next bubble which is cool but for fucks sake have some risk management so that you don’t end up selling too late.
Well by risk-management is meant some fiat profit taking.
With futures you will need to look at walking out of positions step by step to lock in profit, increasing margin so that effective leverage might be something like 5x, not 50x, for longer trades, so thatyou don’t get wrecked too fast. And if you are lucky, you should be withdrawing coins and not leaving them on the exchange - see cold storage or bitcoin wallets.
With spot trading risk management means actually cashing out, either for you to spend or to buy back (hopefully) later and cheaper.
Hassle free to receive fiat for Bitcoin?
For one reason or other, you might not want to use bank accounts. There’s plenty of faster and easier way to get the payout, and you can still decide later whether you want to cash out (and maybe use the bank after all) or if you are buying back in.
Prepaid cards that accept Bitcoin
Here’s the single best option - AdvCash.
Virtual or plastic debit card, low fees, tons of pay-in and pay-out options, generous limits and verification not mandatory. As for buying in, there are BTC payouts, or ewallet payouts that can in turn send money to BTC-e. You can also send the money to a debit card that is linked to a bank account, or you can use that debit card to buy BTC or ETH at Coinmama.
Another option is the well-known wallet provider Neteller.
Their Net+ card can be topped up from the Neteller account which accepts Bitcoin deposits currently with fee of 1%. The card is widely accepted, albeit prepaid. The first virtual card is free. Cons are the limits, verification will be probably demanded sooner or later. Also, buying back in is likely via the route of bank account withdrawal or localbitcoins.
Possibly better option than Neteller would be Wirex.
The VCC is linked to a regular exchange which means you can switch between fiat and crypto absolutely on the fly and under one roof. Probably the most hassle free way ever if you think you will buy back in, while your fiat payout options are quite limited.
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- Bitcoin Cold Storage 2016
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Good to Read
- Finance & Technology: VPRO Backlight on Youtube (full documentaries)
- Macro & Bigger Picture: Stratechery
- Wall Street Technologist
- Austerity Sucks
- For Coders: Crypto Trading Tools
- Bitcoin Markets Wiki
- Baby Pips Forex and Charting School
- Technical Analysis for Dummies [PDF]
- StockCharts Chart School
Basics to Start Bitcoin Trading
- What is AML/KYC
- How high are fair flat fees
- What are Maker-Taker fees
- How to get trading charts
- How to trade on mobile
- Best practice
About This Site
There is a rumor around the web that Bitcoin has no real value other than for speculations.
Sherlock Holmes: ”Has all my instruction been for naught? You still read the official statement and believe it.”
- Top up a debit card with Bitcoin
- There is webhosting for Bitcoin geeks
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- Chat with RoyalTiffany (had to be here)
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