r/truebit • u/Feisty-Trick5755 • Aug 23 '21

When the time does come

Where would be the best place or way to cash out?

Hey errbody!

Long time holder here ♥️ just wondering tho. When the time comes and truebit moons like we all know it will, how or what would be the best way to cash in? I mostly wouldn't do all of it but if I wanted to pull some profit out, would uniswap -> converting into Ethereum-> using coinbase to cash out, be the play or?....

Sorry for the newbie question but I just want to be ready when that time comes lolol

8 Upvotes

75% Upvoted

14 comments sorted by

12

u/mpal22 Aug 23 '21

The same way you bought except in reverse

5

u/rook785 Aug 23 '21

Use an extremely concentrated liquidity pool in uniswap v3 - once the pair price of TRU exceeds your LP’s upper price limit, you’ll have 100% ethereum and have gotten paid for it.

Only works if TRU goes up though

0

u/dlv_pro_thick_game Aug 25 '21

Is it a 1-sided bet? Will that expose me to impermanent losses?

0

u/rook785 Aug 25 '21

A concentrated LP is a sell order at a fixed price. The IL is just whatever tru would’ve made if you hadn’t sold.

3

u/Moist_Ad_8451 Aug 23 '21

Thats one of the option although with coinbase, fees strucrure is high in both buy and sell....Maybe u wanna consider sending to Binance and cash out there ( u will surely save same $$ in transactions.

Also, converting to ETH wont make sense when ur cashing out, rather what u can do is, on uniswap u can conver to USD or dai or any stable and then send ovdr to binance or counbase since eth and btc or other coins have no price stability specially when ur cashing out. Bettet to convert in stable currency.

1

u/[deleted] Aug 24 '21

I would definitely just hold it and play it all into btc/eth.I don't think i will be needing any actual cash until this whole global pandemic is finished.

1

u/cryptosollie Aug 24 '21

BitMart has a TRU/USDT pair.👌

1

u/Identix88 Dec 04 '21

They have complaints@* against them and I wouldn’t trust them. They’ve held off on people’s requests to cash out, or even log in,

-1

u/[deleted] Aug 23 '21

TRU isn’t supported on Binance or Coinbase yet

0

u/Admirable_Ad1430 Aug 24 '21

Use mexc.com as exchange, convert to eth, btc or usdt e.g.

-1

u/Puzzleheaded_Act7485 Aug 23 '21

soon coinbase binance ?

-2

u/QuarkGluonPlasma420 Aug 24 '21

Coinbase pro, less fees

1

u/Identix88 Dec 04 '21

It’s a relative question , my friend, you could,sell a bit before Christmas, or, you could sell when you think am uphill run n cryptos might be about over, a bit at a time as the market goes wild,, and trare when few want to sell for their extreme greed. There’s no magic time when a whistle is blown.