01-11-2021, 03:52 AM
"Cashing out" options this bull run
<!-- SC_OFF --><div class="md"><p>As this latest bull run continues, we'll likely see more and more people reach their personal "moon" and cash out their crypto into something less volatile. But I realized this bull run is different than the past in that there's now several ways to "cash out" that seem viable, where in the past the only way was selling for USD on a centralized exchange. Here's a few that came to my mind:</p> <ul> <li>Move coins to a centralized exchange, sell for USD, use ACH to transfer to bank account (the historic "cash out" option).</li> <li>Sell crypto for stablecoin (USDC, USDT, DAI, etc.). With the latest regulation changes (in the US), banks will be able to accept stablecoins directly (somehow? Unsure what this will look like currently)</li> <li>Move coins to PayPal wallet and spend coins directly at any merchant who accepts PayPal (a feature PayPal says it's adding this year)</li> <li>"Stake" coins into a DeFi vehicle that auto-balances between stablecoins and "volatile" coins (for example, <a href="https://www.tokensets.com/set/btcrsiapy">TokenSets</a>). (A little less "cash out" of an option; more like "I'm done with this crazy ride, I want more stability in my portfolio balance"?)</li> </ul> <p>Are there other viable options that are now available to crypto-users who want to shift from highly-volatile to maintain-my-current-value?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MidnightLightning"> /u/MidnightLightning </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kufrkb/cashing_out_options_this_bull_run/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kufrkb/cashing_out_options_this_bull_run/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>As this latest bull run continues, we'll likely see more and more people reach their personal "moon" and cash out their crypto into something less volatile. But I realized this bull run is different than the past in that there's now several ways to "cash out" that seem viable, where in the past the only way was selling for USD on a centralized exchange. Here's a few that came to my mind:</p> <ul> <li>Move coins to a centralized exchange, sell for USD, use ACH to transfer to bank account (the historic "cash out" option).</li> <li>Sell crypto for stablecoin (USDC, USDT, DAI, etc.). With the latest regulation changes (in the US), banks will be able to accept stablecoins directly (somehow? Unsure what this will look like currently)</li> <li>Move coins to PayPal wallet and spend coins directly at any merchant who accepts PayPal (a feature PayPal says it's adding this year)</li> <li>"Stake" coins into a DeFi vehicle that auto-balances between stablecoins and "volatile" coins (for example, <a href="https://www.tokensets.com/set/btcrsiapy">TokenSets</a>). (A little less "cash out" of an option; more like "I'm done with this crazy ride, I want more stability in my portfolio balance"?)</li> </ul> <p>Are there other viable options that are now available to crypto-users who want to shift from highly-volatile to maintain-my-current-value?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MidnightLightning"> /u/MidnightLightning </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kufrkb/cashing_out_options_this_bull_run/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kufrkb/cashing_out_options_this_bull_run/">[comments]</a></span>Kind Regards R