you can hold these on hardware or software wallets as well.
You must have balls of steel to even consider this, especially after what happened recently with FTX.
Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?Safest in what sense?
Do not keep crypto on exchanges. Only deposit money with an exchange in order to trade, and then immediately withdraw. Any balance held on an exchange should be thought of as ephemeral. It can be gone at any moment.
Not your keys = not your coins.
Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
I get your point. You can move to the exchange the shitcoin you need to offload when it’s some 20% from your target price. If price sinks, move it back to your cold wallet.Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
It's a risk based decision.Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
OTC desks don’t handle shitcoinsA good OTC desk is better and faster than a lot of exchanges. If you see LTC trading near whatever value you're after, contact your OTC traders for quotes. If you get a good quote: lock it in and send your coins.
Then starting a shitcoin OTC sounds like a business opportunity to me.OTC desks don’t handle shitcoinsI mean those even worse than LTC.
What problems. I have no problems with that amount. ??Furthermore, if you really have 100K worth of LTC you want to offload you have much bigger problems to worry about other than "perceived slippage".
Thanks, it's a valid option indeed.It's a risk based decision.
On the one hand, you risk losing all your crypto at any moment due to someone else's fault or fraud. On the other hand, maybe you're able to trade at a better price than if you have to move the coins in first before trading.
Up to you if it's worth it.
A good OTC desk is better and faster than a lot of exchanges. If you see LTC trading near whatever value you're after, contact your OTC traders for quotes. If you get a good quote: lock it in and send your coins.
What problems. I have no problems with that amount. ??
Yes. I remember an Asian one with a $50k minimum back in the day, but I’m afraid they closed.Thanks, it's a valid option indeed.
I just remember @JohnnyDoe said you need at least 100K + to trade on any OTC ?
Yes. I remember an Asian one with a $50k minimum back in the day, but I’m afraid they closed.
Can you please suggest one excange, I have BTC on my hardware wallet and I would like somehow to exchange to USDT and send USD to my bank account. I don't have problem with the bank, will accept it, but my problem is how / which exchange i can use to avoid been blocked. Amounts will be 50-60 K each time.Safest in what sense?
Do not keep crypto on exchanges. Only deposit money with an exchange in order to trade, and then immediately withdraw. Any balance held on an exchange should be thought of as ephemeral. It can be gone at any moment.
Not your keys = not your coins.
Why should you sell your btc for usd?Can you please suggest one excange, I have BTC on my hardware wallet and I would like somehow to exchange to USDT and send USD to my bank account. I don't have problem with the bank, will accept it, but my problem is how / which exchange i can use to avoid been blocked. Amounts will be 50-60 K each time.
Binance? Coinbase? another - which? I don't mind higher fees, I mind not to be stolen my crypto / money.
All crypto has been purchased by me, noone paid / transfered to me, is totally clear but I don't want headaches and a lot of issues to convert.
thank you!
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