Tuesday, December 12, 2017

Sold some Crypto for 968% Profit

And before you ask,

No, I do not think crypto is in a bubble.

But I do think that the recent run up in LTC has been rather CRAZY.


Anyway, I took some profit because why not.


I sold off 6.0618 LTC for $3000 SGD ($2955.30 after fees actually).

Based on my purchase price of about $276.70 in early june, I sold off this bunch of LTCs for a staggering nett profit of  $2678.6.

That's a profit of +968%.

In 5 months.

It feels nice to take some sick profits. I think LTC will go past $1000 eventually with ups and downs along the way, but I took this profit just so that I could blog about it.

Oh by the way I sold only $3k worth because that's the sell limit on coinbase.

And yes, I have a ton more LTC.

Anyway, that is all. Have a good day.


Want to trade crypto? Referral links to 2 exchanges that I use a lot these days!
Binance - One of the best crypto-crypto exchanges with 0.1% fees and 2 BTC withdrawals limit.
HitBTC - Another very good crypto-crypto exchange with 0.1% fees and NO withdrawals limit.

23 comments:

  1. Hi GMGH,

    Now this is what I call phenomenal return. Congrats on your big gains :)

    ReplyDelete
    Replies
    1. LTC price is even higher now, I was too hasty selling! Haha, thanks sleepydevil!

      I must admit, this is my best trade, so far ;)

      Delete
    2. Hi Budget Babe, GMGH :)

      Having a small break due to my tight schedule. Missed out on so much things recently !

      Delete
  2. Hi GMGH,

    Congrats on your fantastic gains!

    Anyway, is it more cost efficient to cash out via Coinbase over doing so on Gemini and hence your choice of selling on Coinbase?

    ReplyDelete
    Replies
    1. Hi Anon,

      Actually I do not think that it is. Coinbase allows selling of LTC while Gemini does not. However, the main reason is that Coinbase is selling at ridiculous premiums.

      The price of LTC at Coinbase is no $378 compared to Bitfinex at $305. Arbitrage opportunities recently have been MASSIVE.

      Delete
  3. got money liao, where's the honey?

    ReplyDelete
    Replies
    1. not enough money yet, working on it!

      Delete
  4. congrats GMGH, i got to admit I never dismissed it but I failed to set up the infrastructure to explore it

    ReplyDelete
    Replies
    1. Thanks Kyith. Are you interested in dabbling your toes into the crypto world? I set up my account at coinbase more than a year ago but only started getting serious just this year. I would like to say "it's not too late!", but who knows in crypto haha. Tech wise, I think it's definitely an interesting field to explore!

      Delete
    2. I tried setting up a few exchanges just to get an idea what I am missing out. Let see what I have uncovered.

      Delete
    3. Let me know if you need any help :)

      Delete
  5. GMGH : congrats on your MASSIVE profit.. Added any new alt coins recently?

    ReplyDelete
    Replies
    1. Hi Richard, it seems I replied too late! I was going to throw out ADA as a suggestion, but it pumped 40% today already haha

      Delete
  6. GMGH,
    i recently got into crypto, from the help on your blog and sleepydevil. sold eth ydae, due to the run up. profits only in double digits percentage. not obscene like yours. haha..

    for the two links that you mentioned. this means, i.e. sending coins over from gemini to bitnance/hitbtc? any charges for transfer in coins? i assume the 0.1% is only on the transaction (buy/sell) of alt coins?

    ReplyDelete
    Replies
    1. Hi foolish, oh no we are such bad influences XD!

      Usually the sending fee is paid by the sender. The sending fee can either be waived and absorbed (in Gemini's case), fixed and with a service fee (many typical wallets like Jaxx) or up to you to decide the fee (MyEtherWallet, etc).

      Transfer out from Gemini is absorbed as far as I know, so there should be no inward fees by any exchanges when depositing crypto. The 0.1% fee is for the actual buys and sells yes.

      Foolish, you are going to venture into the wild world of alt coins?

      Delete
    2. Omg. We kena paotou! Consider using Binance. I'm using it too for my stint on alt coins. I've been thinking of creating one account with HitBtc recently too! How's HitBtc?

      Delete
    3. HitBTC is good imo, they handled the BTC fork really well and I managed to sell off my forked coins for decent gains, much higher than their value now! The no limit withdrawals is pretty good too. I think Binance is better, but HitBTC is good for some exotic pairs.

      Delete
  7. Thanks to your posts (I have read all of them), I finally took the plunge and dive into the crypto world.

    I bought my first LTC much later (was waiting for a crash that never came), sold slightly earlier at 160% return.

    PS: I enjoyed your insurance posts as well.

    ReplyDelete
    Replies
    1. Hi blindfollower, thanks for the comments! 160% returns is not too shabby at all! I can't do traditional investments anymore because of this anymore. Waiting for 160% returns would take YEARS! Stay safe and be vigilant!

      Delete
  8. G, thanks for your hard work in all these posts. Your posts in June/July helped me to take first steps into crypto and have never looked back. Your gains are well deserved for your spot on analysis - enjoy your profits and stay safe in the wild west.

    ReplyDelete
    Replies
    1. Thanks Anon! Yes, stay safe :) Let me know in the future how things go for you!

      Delete
  9. Expecting to see your overall gains (including paper) to be higher than those figures. Good on you Sir. The mix of posts on exploring the world and warning about the shitholes are great. Respect.

    ReplyDelete

Observe the house rules.