Saving earned ada


#1

Hi.

What is the best way to save the money that one can earn on trading ?
E.g. if someone has 100 ADA and makes the buy at 1$ and sell on 1,5$ ,
how can this 50% earning be put aside ( so that it will not be affected by prize change )
?

1.)
Do i have to convert it to BTC and from there to USD each time one get some earnings ?
I dont know, but this looks to complicated specially when one works with small amounts.

2.)
Convert it to USDT ?

Any input is welcome.
Regards !


#2

Sell your Whatever Earning You Want / ADA price, convert to BTC then USD.

In this case, $150 - $100 = $50 and 50% of $50 is $25 and $25 / $1.5 = 16.666667 ADA

So Sell 16.66667 ADA

I will convert to USDT if I know I’m gonna re-invest back the money VERY SOON, like next 1-2 days.

USDT might get busted anytime I think.


#3

Also be aware that depending where you live you may owe capital gains taxes on that profit.

Also by the summer you will probably be able to stake your ada and get some return that way. That will probably show up as ordinary income for US taxes at least.


#4

Hi guys and thnx for reply!

@Mihori

  • i know that conversion part but if you are let’s say day trader and your daily income is 10 or less $ per day, you dont want to do this conversion each time because of fees and other taxes. Let me rephrase that…
    If you earn $10 in the morning and you didnt immediately pull this out to USD , price drops, and you loose it again till the end of the day. Waiting the end of the day, can bring positive or negative changes. That’s why i mentioned USDT. If the price drops, it will drop in very small percentage… and it will be cheaper then fees and taxes. Of cource, if someone would have bigger earning then it’s better to put them aside asap.

@Donnybaseball
i agree with you.