Two simple ways to protect your Net Value in case of a Bitcoin Crash
Every Bitcoin holder experienced it: Bitcoin Price crashing, and your Net Value with it.
If your spider-senses tingle before a crash, there are two very reasonable actions to protect your Net Value in case of downtrend.
Gold
Vaultoro is the service of my choice.
You trade exclusively Bitcoin and Gold there.
Pros:
- Instant functionality - send BTC to your Address and it's converted to Gold automatically.
- Reasonable fees
- Backed by real and redeemable Gold
- Audits are as transparent as possible
Cons:
- Centralized
- Requires KYC
► Click Here to Start Hedging BTC <> Gold
bitUSD
or HERO for long term savers
bitUSD is dwelling on BitShares Decentralized Exchange. It's pegged to the value of real US Dollar.
Click Here to open a free BitShares Account
Pros:
- Decentralized
- Incorruptible
- Fast (3 second transfers)
- Secured by at least 2x worth of underlying Asset BitShares
- Pegged to Dollar value
- Instant buy via Blocktrades.us
Cons:
- More complicated
- Fees are a bit more expensive
► Click Here to get Started and hedge BTC <> bitUSD
How about shorting the Bitmex perpetual future contract ?
Didn't think of including Tether (USDT) ?
I'd never use USDT. it's the most unstable and most misguided thing in crypto.
there is no safety in USDT
Could you point me to why you think that? I've been around for a little bit but I never quite understood usdt. But I saw last night when everything was red usdt was still holding steady and it had like $90 mil 24hr volume so now I'm a bit curious about it
Explained in my comment, complete with citation of a source. It's a sham.
I agree USDT is as good an option as any. I believe its owned by a Singapore bank as well?
Have you read Tether's terms of service? To quote from them
This is insane. Good find Ashaman. I'll have to go back and adjust my post on this.
Agreed about the insanity. No one ever reads the ToS... We've all been very effectively conditioned not to.
If bitUSD had 100x the liquidity and 10x the trading pairs it has today it would be the most important crypto in the world. Imagine being able to move seamlessly from BTC, BTS, ETH, EOS etc. to USD and back again on decentralized exchange. Like right now - uh oh, everything is going down. Go risk off, move your value to USD and wait it out, then buy back.
exactly!
This is an epic solution and actually makes me want to buy more BTS because its very likely to happen and it will result in an increase in price as a certainty.
To make it happen, we need to bother the exchanges we trade on (other than the DEX) to list it.
No love for silver?
no :)
exelente
Both excellent ideas to hedge yourself. Don't forget to have some physical precious metals and other hard assets in your possession (under your control that you can touch and feel) as well. You can even buy some with Bitcoin from some dealers!
Una buena idea me gusta mucho
good tips. followed for more
buen post ♥
Interesante.
excelentes ganancias te felicito