Two simple ways to protect your Net Value in case of a Bitcoin Crash

in bitcoin •  7 years ago 

Every Bitcoin holder experienced it: Bitcoin Price crashing, and your Net Value with it.

If your spider-senses tingle before a crash, there are two very reasonable actions to protect your Net Value in case of downtrend.

Gold

Vaultoro is the service of my choice.
You trade exclusively Bitcoin and Gold there.

Pros:

  • Instant functionality - send BTC to your Address and it's converted to Gold automatically.
  • Reasonable fees
  • Backed by real and redeemable Gold
  • Audits are as transparent as possible

Cons:

  • Centralized
  • Requires KYC

► Click Here to Start Hedging BTC <> Gold

bitUSD

or HERO for long term savers

bitUSD is dwelling on BitShares Decentralized Exchange. It's pegged to the value of real US Dollar.

Click Here to open a free BitShares Account

Pros:

  • Decentralized
  • Incorruptible
  • Fast (3 second transfers)
  • Secured by at least 2x worth of underlying Asset BitShares
  • Pegged to Dollar value
  • Instant buy via Blocktrades.us

Cons:

  • More complicated
  • Fees are a bit more expensive

► Click Here to get Started and hedge BTC <> bitUSD

bitcoin gold vaultoro bitshares bitusd
7 years ago by

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    • [-]
      ·  7 years ago (edited)

    How about shorting the Bitmex perpetual future contract ?

    Didn't think of including Tether (USDT) ?

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    5 votes
    [-]
      ·  7 years ago 

    I'd never use USDT. it's the most unstable and most misguided thing in crypto.

    there is no safety in USDT

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    1 vote
    [-]
      ·  7 years ago 

    Could you point me to why you think that? I've been around for a little bit but I never quite understood usdt. But I saw last night when everything was red usdt was still holding steady and it had like $90 mil 24hr volume so now I'm a bit curious about it

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      [-]
        ·  7 years ago (edited)

      Explained in my comment, complete with citation of a source. It's a sham.

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        [-]
          ·  7 years ago 

        I agree USDT is as good an option as any. I believe its owned by a Singapore bank as well?

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          1 vote
          [-]
            ·  7 years ago 

          Have you read Tether's terms of service? To quote from them

          Tethers are not money and are not monetary instruments. They are also not stored value or currency.
          There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

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            1 vote
            [-]
              ·  7 years ago 

            This is insane. Good find Ashaman. I'll have to go back and adjust my post on this.

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            2 votes
            [-]
              ·  7 years ago 

            Agreed about the insanity. No one ever reads the ToS... We've all been very effectively conditioned not to.

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              [-]
                ·  7 years ago 

              If bitUSD had 100x the liquidity and 10x the trading pairs it has today it would be the most important crypto in the world. Imagine being able to move seamlessly from BTC, BTS, ETH, EOS etc. to USD and back again on decentralized exchange. Like right now - uh oh, everything is going down. Go risk off, move your value to USD and wait it out, then buy back.

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              6 votes
              [-]
                ·  7 years ago 

              exactly!

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                [-]
                  ·  7 years ago 

                This is an epic solution and actually makes me want to buy more BTS because its very likely to happen and it will result in an increase in price as a certainty.

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                  [-]
                    ·  7 years ago 

                  To make it happen, we need to bother the exchanges we trade on (other than the DEX) to list it.

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                    [-]
                      ·  7 years ago 

                    No love for silver?

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                    1 vote
                    [-]
                      ·  7 years ago 

                    no :)

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                      [-]
                        ·  7 years ago 

                      exelente

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                        [-]
                          ·  7 years ago 

                        Both excellent ideas to hedge yourself. Don't forget to have some physical precious metals and other hard assets in your possession (under your control that you can touch and feel) as well. You can even buy some with Bitcoin from some dealers!

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                          [-]
                            ·  7 years ago 

                          Una buena idea me gusta mucho

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                            [-]
                              ·  7 years ago 

                            good tips. followed for more

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                              [-]
                                ·  7 years ago 

                              buen post ♥

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                                [-]
                                  ·  7 years ago 

                                Interesante.

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                                  [-]
                                    ·  7 years ago 

                                  excelentes ganancias te felicito

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                                    [-]
                                      ·  7 years ago 

                                    nice post ,,, you have good blog , Good luck. Comrade

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                                      [-]
                                        ·  7 years ago 

                                      buen post

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                                        [-]
                                          ·  7 years ago 

                                        genius!!

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                                          [-]
                                            ·  7 years ago 

                                          Excelente publicación.

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                                            [-]
                                              ·  7 years ago 

                                            a seguir los consejos para proteger la valorización del BTC

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                                              [-]
                                                ·  7 years ago 

                                              This deep, my local currency is messed up for this.........sadface

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                                                [-]
                                                  ·  7 years ago 

                                                Interesante

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                                                  [-]
                                                    ·  7 years ago 

                                                  good!!

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                                                    [-]
                                                      ·  7 years ago 

                                                    I still have a good bit to learn about Hero but I got my feet wet with 1 Hero! :) I love Bitshares and their decentralized exchange. It's quite an exciting platform!

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                                                      [-]
                                                        ·  7 years ago (edited)

                                                      bitCNY has much better liquidity than bitUSD, and is worth of mention for that reason alone. I preserve purchasing power with bitCNY, but generally short bitUSD when it's going up to make my own little contribution to liquidity and supply.

                                                      Edit: It is also worth mentioning that Bittrex has a BTC:bitCNY pair.

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