Howdy ya'll, mid-2014 BTC miner here, been in the game for a while (long enough to sell way too low and regret it, lol), but semi-new to outright buying cryptos (since 2017) with fiat. I've seen lots of threads and questions popping up about "how do I sell?"
It's totally understandable that people want to know how to off-ramp and get back to their fiat. There's also been some big posts about how cryptocurrency is the endgame, and off-ramping shouldn't ever be a thing. I'm not here to speculate on that. It would be great if we're such big brain bois that we never need to go back to fiat in the future, but chances are there are a good number of us that are still going to need an offramp plan in 5-10 years to get back to fiat. Might be due to our native country's adoption/stance on crypto in 5-10 years. It might be due to new tax laws. It might be due to massive economic change. It might even be due to Banano replacing half of the Earth's atmosphere with cotton candy. I don't know and I won't pretend to.
What I will say is, if you are truly here for the long term: don't bother trying to plan the perfect escape route right now. It isn't a waste of time to understand the process of moving from cold wallet -> exchange -> sell -> transfer fiat to bank, but planning your exact escape route is akin to guessing the temperature of the Gulf of Mexico 10 years from now. There are a million things that would happen between now and then that will completely change the ball game.
Want an example? NFTs. They're all the rage. Go back 3-4 years ago during the 2017 bull run? Nobody would know what the hell you were talking about. Now, we've got all this big talk here about HODLing for 5-10 years, two or three times that duration. So stop worrying about exactly which life boat you're going to jump into, or exactly which color of parachute you're going to use. Get yourself a general idea of the process, then ensure your stuff is secure in the appropriate place, be it cold wallet or otherwise.
Then just freakin chill. You're here to HODL, so act like it. And of course, may you all moon 🙂
Note: Tagged as Trading since the main purpose of the post is about Crypto -> Fiat, but feel free to criticize my life choices as you wish.
submitted by /u/SL-Gremory-
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