How and When To Take Profits

Hi,if things go well in the future, people may want to take some profits. At present there seems to be lots of information on how to buy ADA but how does one actually go about safely selling your ADA? Do you use Binance, Coinbase or possibly an OTC desk? Also, what are some good strategies on when to take profits? I for one won’t be doing anything for quite awhile but I do want to be prepared and having a good exit strategy is crucial. Would love to hear what others think. Cheers!

When it comes to ‘When’ is the right time, No one else should advise you on that. It is your personal decision, one in which either a financial advisor you trust or yourself should answer.

The only bit of advice I would give around it is, try not to be too greedy, there will be or always would have been a better time, no matter when you take profit.

At the moment there is no way to exchange your ADA straight back to your local currency. Hopefully this will be an option in the future, not too far away.

I would personally recommend you use a well known and trusted exchange. Remember your ADA is worth a real value and it is not insured.

Depending on where you live, there is a strong chance you will be required to pay taxes. I would familiarise yourself with your governments laws around that.