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HODL is one part of the story. Have-An-Exit-Strategy (HAXS) is the other part.

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by COINS NEWS 172 Views

It's a common trope. "If you bought back in Jan 2017, you'd be a millionaire if you HODL till 2022". Well, if I had a vagina, I'd be a sister. Having an exit strategy is equally important as hodling. Holding is good so that you don't do brash decisions when the market goes volatile.

What's an example of an exit strategy? DCA-OUT. We know about DCA-IN. Whereby you buy the same amount of crypto [Denominated via either the crypto value itself (0.01 BTC every month), or through the value of fiat (50 USD every week)]. How would you DCA-OUT?

Well, similar principle.

  1. Have a target in mind. Lets say, you want to withdraw 0.1 BTC.
  2. Set a timeline. Let's assume 3 months/12 weeks is a good timeline.
  3. Therefore, this plan would see you withdraw 0.0083 BTC every week.

This way, you can average your way out. Now, there are drawbacks, such as not getting the exact fiat value you aimed for, but this is because you're putting the emphasis to peg based on cryptocurrency value. You can always switch the BTC value to Fiat instead.

There's no shame in withdrawing. It's an intangible asset that grows, and it should make your life a bit better. Everyone has their own definition of 'To the moon'. You can define yours on your own, and it will be different from others.

HAXS in your own way, fellas.

submitted by /u/the_far_yard
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