Forgot to close position here. Closed at a 3% gain.
shamil3864
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Great idea but once you make the profit how do you save it...keep it in bitcoin, send to a bank (if this, how?) Thanks for your insight!
TheMagpie
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@shamil3864, Depends on how I expect BTc to perform. In this case I would keep profits in BTC but if BTC looks likely to drop I will convert to USDC
shamil3864
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@TheMagpie, Many thanks for your answer...but would I have to sell my xlm to get comparable bitcoin then send it from binance to coinbase to buy USDC or can I get USDC on Binance...this is soooo important to me as it is the first time I have come across a type of a coin that will not fluctuate like other altcoins...kudos to you for sharing with this still a newbie novice trader!
TheMagpie
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@shamil3864, You can convert Stellar to Coinbase they do EUR/USD-XLM since last week.
shamil3864
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@TheMagpie, Hi again and thanks for your continuing support...and for introducing me to USDC the stable coin backed by the US dollar. I like Binance and I see it supports the USDC. I've been thinking there is one very helpful thing you can do for me and I'm sure for many of your followers also in my situation i.e. how to save profit from changing value ...it seems to me there are 4 essentials...1) how to get funds into USDC in Binance from a bank etc. 2) how to use those funds in USDC to purchase an altcoin, in my case xlm 3) how to take xlm profit and put it into USDC 4) how to send this profit from Binance USDC to a bank...understanding this and being able to put it into practice is for me truly the Holy Grail of crypto currency trading as it solves the big problem of keeping the value of your profit intact. You so generously showed us, your followers, how to make a profit and If you could lay out the above steps needed so that we can keep it I and many, many others of your followers I am certain would respond by giving you kudos, the highest praise possible! Huge thank you!
TheMagpie
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@shamil3864, Not trading advice but 1) Firstly I would buy your preferred coin in Coinbase. You can buy XLM, LTC, XRP, Bitcoin...etc directly witha card or the bank transfer 2) If you short or long XLM you will recieve BTC as profit, you can then trade this for USDC/USDT or buy more XLM. Up to you. I trade on Poloniex btw (STR/BTC).
shamil3864
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@TheMagpie, Wonderful, huge thank you...again, Big kudos for your generous thoughtfulness...you are Best...I am now a happy camper!