Liquidating your BTC or any other cryptocurrencies might not be the good idea. The Bitcoin & Ethereum network, all along with various other altcoins, charge some minor fees, which are linked with maintaining its ledger. Suppose the user transfers their coins from one BTC wallet to another quite often, it can result in paying much more fees. The fees can potentially eat any profits. You might end up paying the higher mining fee while you transfer the large amount as ledger needs to piece together each little transaction out there with BTC price.
Choosing Offline Store
Suppose you do get on a point of BTC profit where this makes a little sense to store the coins, you must transfer them in the offline wallet. The offline wallets enable you to sleep during night as you know funds aren’t sitting on the exchange’s server.
In an event you have the balance very large that you feel uncomfortable to leave them on the desktop, I will strongly recommend the hardware wallet. The innovative pieces are durable, portable, and enable you to recover the devices assets with 24word recovery seed. Best part? Majority of them are highly compatible with popular offline wallets and have the version of own.
Time to Withdraw
When you have decided that the offline wallet has actually hit the threshold, it is time to withdraw your cash. To get money from the wallet to account is easy, but can take about one week – maybe a bit longer. You might notice that the wallet has ‘Send’ & ‘Receive’ the codes.
Whichever type of wallet you have can have an option to send the funds someplace else. Just input receive code of the account where prompted & your funds must be accessible in the account in hours. Right from there, you need to do is to transfer the cash to bank through your wallet and you are done.
