How to Take Crypto Profits! (BEGINNER’S GUIDE)
If you want to survive the bull run, GET a cold wallet! My favorite wallet is Tangem. You can grab one with a discount here: https://tangem.com/en/pricing/?promocode=CYBERSCRILLA#pricing
Or watch my Tangem wallet review first here: https://www.youtube.com/watch?v=bPZpzjJl3ts
OR if you don’t know how to use crypto wallets, this is the only guide you need: https://youtu.be/AdXpYGnFhs0?si=s1NalTefHy_Cm8BX
🎁 Join our newsletter: https://cyberscrilla.kit.com
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There are many ways to take profit in crypto. These are some of the best profit-taking strategies AND concerns to watch out for!
0:00 – Crypto Profit Guide
0:38 – Crypto Profit EXPLAINED
1:59 – Profit-Taking Strategies
4:50 – Why I avoid exchanges
6:42 – Conversion Options
10:38 – Selling Crypto for Profit
15:28 – Fees and Taxes
16:52 – The BIG Takeaway
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Gymnopedie No 1 by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Awkward Meeting – Supernatural Haunting by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Great video. Thanks. If I perform an exchange in cold storage, how do people deal with accounting for taxes? Tangem doesn’t seem to have exchange reports.
What’s up CYBER In a more recent video you did mention not to treat your cold wallet as a hot wallet and just send and store crypto there but yet you are swapping on the Tangem app will it now be prone to hacking? Sorry I’m new to this
Love your vids btw you’ve helped a lot
Thanks. I learned heaps.
Would it be best to sell on exchange? Kraken. Also maybe just swap in cold wallet any more fees?
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Appreciate it for posting! Looking for help: My Trust Wallet holds some USDT TRX20, and I possess the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. What’s the best way can I go about sending them to KuCoin?
Is it necessary to use cold wallet if i have a small amount of cryptos?
Is there a way for you to not actually sell your cryptocurrency but like on the days where you may be earned like a daily earning or what your crypto may be earned that day can you just cash that out where you don’t actually sell the crypto coins or your tokens and you’re just taking the actual daily profit like if it’s a five or $600 or something like that?
CAN YOU PLEASE ADDRESS THIS ISSUE! Thank you🤙
I’m very grateful for your content. Thank you for all you do for the crypto community.
I’m confused on a couple of your videos though. In THIS VIDEO, you said you can SWAP or SELL(on moon pay)your crypto on your tangem wallet….
….then on your DONT MAKE THESE 12 MISTAKES video, you said NEVER USE YOUR COLD WALLET AS A HOT WALLET???….in other words don’t SWAP or SELL on your cold wallet.
….Im confused 🤔
Lastly what DEX would you recommend to utilize a cheaper network like SOLANA or other networks for SWAPPING and SELLING in a bull run?
Thx again bro!!! God bless🙏🤙
Today is the day
I invested some Bitcoin. Where do I look at on Coinbase to see my profit in cash?
oh i love your channel. just discovered it and appreciate this simple exit strategy. I’m all for simple and quick. Actually I’m most afraid of the sell and move part of it. not when, but the logistic. Been trying to prepare myself for exit and it’s been quite stressful. And I also know that shit might always hit a fan, no matter how well I prepare myself. So the actual question: you said that exchanges freeze accounts or stop conversions when you the bullrun is on. how would you go about if you were at a point that you want to take profits but CEX doesn’t want to convert or even withdraw your funds after you deposited your crypto from a cold wallet. I guess not much to do? Or can you check anything upfront before depositing crypto during bullrun on the exchange when you want to sell? (besides the basic "can I log in" or do the have some notice saying that the shop is closed?"
PS. just watched till the end and saw you were swapping your crypto for stables with tangem.. that was brilliant. But I have Ledger. Can you do that with Ledger? I. once used a convert app on it. But that was clunky. Is there a better way? And can I cash out to my bank like you did? gosh I’m so jealous now of this tangem thingy 🙂
Cash is king. It’s only profit until the $ hits your bank acct. buy silver or gold with it or put it in a tax advantaged account is the endgame
Thanks for this. Super helpful. Do u still feel the same with swapping usdt over usdc?
Why is this video showing a black screen
This was very helpful. Thank you
Don’t pay taxes on crypto. If half of America does it, they won’t be able to follow. The government takes enough of our money. Stop please. We have to make them stop. They are enslaving us with debt. Just stop. They can’t send even 10 million people to prison. Do the math. Stop paying the government this extra cash for NO reason.
Just 2 comments: 1) sell from a cold wallet is incredibly expensive, isn’t it? 2) swap in stable coins is also risky since the issuer can go bankrupt
Fantastic lessons from A-Z ref crypto wallets. You state you can use a cold wallet to make transactions such as selling crypto or withdrawing but,
1. Is that exposing it to the internet which you want to avoid?
2. You say there is a higher transaction fee for convenience but if you first transfer crypto to an exchange then sell aren’t you incurring one transaction fee from cold wallet then selling fee from the exchange ?
3. Do you lose out end of year to get a Coinbase tax summary if you buy and sell in the cold wallet? Or are you using an exchange on the cold wallet?
Thank you !
Like if you are getting signals from Bull Crypto Signals
Wow, the adrenaline rush is real! If you’ve ever found yourself daydreaming about that sweet profit in a bull run, only to realize you hadn’t quite figured out the exit plan—don’t worry, you’re definitely not alone! The ride can feel exhilarating, but the aftermath of riding the waves of the crypto market without knowing when to take profit can be a gut-wrenching experience. It’s like winning the lottery but forgetting to cash in the ticket!
Thanks for great content ❤I agree with you. For community I would also sug. to read ‘crypto backdoor book’ . it completly changed my trading. Its rare treasure..
Screw tax. Put your crypto in a private common law trust. It’s a 508 c1a, tax exempt. Lots of other benefits with a trust, also. 👍
No mention on which networks to use when selling for a stable coin and the pros and cons/ risks of using a particular network.
doginme bby
Hi Alex! Do most exchanges require you to first convert to USDT before converting to fiat? How about direct conversions? I’m curious if one is better over the other. If you covered this topic, sorry! I’ll find the video eventually 😅
Why not take our a loan on your crypto, loans are not taxable.
Everything was great and I had the same wallet only thing I can disagree with is paying crypto taxes is not a law. Paying any taxes is not a law No law has ever been found it is a presumption though and people pay out of fear. If you’re really that concerned about paying taxes then open up your account in a trust name
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What are the steps to do it ?
Mark moss said to never sell any of your bitcoin. He said to take a loan against your bitcoin so you’re not taxed.
Can’t i just withdraw the profits that i made of crypto? Profits only, not selling my crypto.
im confused….. so if you dont keep yours on an exchange….. how do you sell it when you want to , or how do you buy if the prices goes low ?
Which one is better USDT or USDC? I noticed in the tangem wallet, USDT is Tether has different block chains or networks confused on which one to pick. Is that because it depends on the network your crypto is on that you want to swap you. For example, if I wanted to swap XRP ledger which is on the main network, what USDT would I choose?
Amazing explanation! Thank you
i been watching videos on this and u made it very simple too understand thanks!
I just took some profit on crypto by putting a limit order at let’s say 15 cents and it triggered until 17 cents. Why does that happen?
Why cashing out when you can pay directly in crypto
Excellent video. Any chance you could do a video on the cheapest way to sell your crypto ? (i.e. which exchange is best, converting to stable coin and selling , etc.)? Thank you.
Be aware COINBASE and COINBASE WALLET its an scam. Same company but not solutions.On my own experience. You can buy but not cash out. You can loose but not profit.
THANK YOU X10. Just stumbled across your video about taking profits. Def’ly something that has been on my mind…especislly with what is expected now through end of the year.
moonpay charges an arm and leg though. I get the convenience to swap off an exchange but dang..up to 4.5%
Much too difficult for my limited understanding?. I wish l could just get my head around it all… how ever do l even get to know all that totally new ‘jargon?… l am a ‘complete’ novice in my late 70’s.. perhaps its way too late too start now?
Thinking about getting into crypto. Tax question:
How do I track my transactions? Do I physically need to write them down or can you request this information from somewhere?
awesome explanation dude
Another question, I just spoke to some banks in prep, they too told me: just give it a try to send funds, but we can’t tell you if cash will be accepted. And so the money remains on the CEX, that’s whai I fear, if it’s already converted to fiat, i can;t move it back to a cold wallet to store offline… or are you any less concerned about hacking Fiat that’s on CEX that you’d if that were crypto?
Are the fees the same for stablecoins as for fiat when selling crypto..?
Bcs if we go to stablecoin, then to fiat eventually, that would mean we’d pay double the fees for transactioms. Yes..?
12:08 Ok so you don’t need to send it to an exchange to take profit? Cool how are we gonna do that? 13:12 oh so you just sent it to an exchange. Got it
If you want to survive the bull run, GET a cold wallet! My favorite wallet is Tangem. You can grab one with a discount here: https://tangem.com/en/pricing/?promocode=CYBERSCRILLA#pricing
Or watch my Tangem wallet review first here: https://www.youtube.com/watch?v=bPZpzjJl3ts
Thanks for watching!
– Alex
Is there a way then to just take out your daily earnings on days where you made a positive balance like when it increased from a dip cause I use Coinbase and I can’t figure it out even though I’ve asked the instructions, but it tells me to do things that I can’t findI was just trying to take today. I had made like about 800 bucks and I wanted to just take that and I couldn’t figure out how to do it.