💸 Coin Transfer — is it worth doing? 🤔
This is one of the most controversial points in crypto. It refers to transferring your coins to another asset (not a stablecoin) to increase profits.
Example from practice:
Recently, I transferred PIRATE coins to ETH — I wrote about it here
📌 At the time of the exchange:
- The price of PIRATE was $0.117
- ETH was $1850
- I received 0.077 ETH
⏳ 20 days have passed:
- Now PIRATE costs $0.062
- ETH — $2650
💰 Net profit: ~$60, simply by transferring from one asset to another.
And this is without considering additional actions.
⚠️ BUT it's important to understand:
- The larger the amount, the larger the potential income
- Such transfers do not always lead to a profit
- Personally, I only do this if the coin is in profit or at least at break-even from the average purchase price
🧠 Draw conclusions and always assess risks before changing one asset for another.
This is one of the most controversial points in crypto. It refers to transferring your coins to another asset (not a stablecoin) to increase profits.
Example from practice:
Recently, I transferred PIRATE coins to ETH — I wrote about it here
📌 At the time of the exchange:
- The price of PIRATE was $0.117
- ETH was $1850
- I received 0.077 ETH
⏳ 20 days have passed:
- Now PIRATE costs $0.062
- ETH — $2650
💰 Net profit: ~$60, simply by transferring from one asset to another.
And this is without considering additional actions.
⚠️ BUT it's important to understand:
- The larger the amount, the larger the potential income
- Such transfers do not always lead to a profit
- Personally, I only do this if the coin is in profit or at least at break-even from the average purchase price
🧠 Draw conclusions and always assess risks before changing one asset for another.