Hey there! In this short post, I’m going to show you the smartest way to buy crypto with fiat or convert one cryptocurrency to another (No Registration and no KYC), and grow your crypto wealth systematically but surely.
What Do You Do With Your Crypto Earnings?
What do you with the cryptocurrencies you earn through the various means available to you?
For example, on Publish0x you are tipped with DAI, LRC, and BAT.
Here on CryptoSorted, you earn free Ethereum weekly.
Some of us aim to HODL all of them for years and see what becomes of them.
Others do not consider holding all a perfect idea, so they will convert one crypto to another that they believe in enough to HODL for the long term.
Still, some others like me feel, keeping my cryptos just idle in my wallet for years is unfair to my wealth-building strategy.
So what do I do?
I trade them in a secure and convenient exchange to increase their value and build my overall crypto wealth over time.
Whichever strategy you adopt to put your crypto to use is perfect as long as it helps you achieve your personal and financial goals.
This post is intended to help you discover one smart way to swap, buy, and trade your crypto securely and conveniently.
What is the Smart Way to Swap Cryptocurrencies
One of the most popular ways to convert your DAI to BAT is to transfer DAI to a centralized exchange like Binance and KuCoin, sell it to Bitcoin, and use the Bitcoin to buy BAT.
That’s not smart. It’s wasteful, and here’s why:
- You lost some DAI as the fee to move it to an exchange
- You paid another fee to convert it to bitcoin
- You paid another fee to buy BAT with your Bitcoin
- And another fee to move your BAT to your wallet.
Four different fees just to achieve 1 goal –not wise in my opinion.
So what’s the simple and convenient way to do this?
Rather than go through all the long processes of swapping your crypto assets to another on centralized exchanges, use this simple and convenient crypto exchange service here.
or you can just do that right on this page using the ChangeNOW instant crypto exchange tool below.
How does that work?
Simple! First, you DO NOT need to create an account. Just walk-in, swap and walk out like you were never there.
Using our previous example of converting your DAI to BAT.
- Go to the exchange or just use the above widget right on this page.
- Provide your wallet address where BAT will be deposited
- Transfer the amount of DAI you want to swap to the smart contract
- Get your BAT in your wallet in less than 10 minutes.
Compared to the myriad of steps when you use a centralized exchange, this does seem to be a smarter way to get the same job done in far lesser time, has nearly zero risks, and of course lower cost.
What’s the Smart Way to Trade and Grow Your Crypto Wealth?
I am a huge fan of efficiency – using minimum resources to achieve maximum possible results.
Why should I keep my crypto idle in some wallets for years in the name of HODLing when I can realistically increase my crypto wealth by simply swapping them occasionally?
What I am suggesting really is, trading at maximum convenience and only when profit is GUARANTEED.
Hey! CryptoSorted, but in life, nothing is guaranteed –yes, you’re right and I’m old enough to know that but guess what?
You can create your guarantees and here’s how.
We all know that the cryptocurrency market is extremely volatile.
While that is a problem for the novice trader and investor – smart traders (like you) profit and thrive in it.
The concept is so simple that it’s easily ignored and disregarded – buy low and sell high.
For simplicity and clarity let’s imagine a trading scenario with BTC and BAT.
In my wallet, I have 1 BTC and 1000 BAT. I am a HODLer because I believe in the future of Bitcoin and the Basic Attention Token and Brave Software respectively.
Due to some miracles, news, whale activity, luck, or pure magic (whatever) – next week the price of BAT has appreciated by more than 25% against Bitcoin.
It seems I wouldn’t wait for the next 5 years to become the first millionaire in my family after all – I’m HODLing tight like Spiderman suit till BAT is $100, you say to yourself.
Then, it happened.
It’s Sunday, you went to bed, woke up on Monday and BAT has dumped, losing more than 20% or even more of the previous days’ profit.
Guess what, you just missed a perfect opportunity to accumulate more BAT –because of FOMO.
You’re like, hey it could go up 100% — yes, it CAN.
It can also go back down 75% – please always take profit.
What I Would Have Done?
Let’s for a second assume I am confident, due to whatever my confidence is based on, that the price of BAT will shoot past this current 25% already attained profit to maybe 100% or even 1000% (wish me luck).
- I will swap 50% of my BAT to Bitcoin immediately at a 25% profit
- I will swap another 50% of the remainder to Bitcoin at say 35% profit (if it keeps going up)
- Until I finish selling my entire BAT
- If I don’t see BAT going beyond this immediate 25% already attained profit (I can be wrong) – I will convert all my BAT to Bitcoin and keep my profit while waiting for a retracement to buyback.
No crypto has maintained a consistent upward price movement without any form of retracement and consolidation.
Do you know any?
Remember you’re HODLing these assets in the first place, so you can patiently wait for BAT to “cool down” – it always does, and then buy back at a cheaper rate – thus increasing the number of BAT in your portfolio that you didn’t have to buy with extra cash.
This is the form of trading that I preach. It’s safer and has some guarantees – if you take the profit you have NOW and patiently wait for that correction that always comes.
What Makes This Strategy Hard to Pull Off Successfully?
It will be hard to execute the above strategy if:
- You are a “fanboy”, “moon boy” or you have “fallen in love” with a particular cryptocurrency, to the extent that you feel guilty taking a cold-blooded profit.
- You’re greedy, expecting and waiting for higher profits until the ice begins melting on you and you’ll be like – oh I should have sold at so and so profit. Happens to all of us a lot of times and we keep learning the same lesson.
- You can’t muster sufficient patience, discipline, and cool-headedness required to “take advantage of the market movements”. It’s not a sin to take advantage of the market to strategically and systematically build your crypto wealth – feel happy doing it.
Avoid the long exchange procedure that eats into your profit, privacy, and time.
You can easily, securely, and anonymously buy bitcoin with fiat and swap unlimited cryptocurrencies with this instant crypto exchange tool.
Did you find this article helpful? please share it, so others can benefit — it really means a lot to us.
What have been your experiences using this crypto trading strategy and tool? Share with us in the comments section below.