automatic sell of crypto

How abeout an automatic crypto sell, when main account gets out of money?

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This could cause uproar for selling at a really poor rate, with fees included it’s probably not practical here.

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:wave:Hello, Mindspring :wave:

Selling your cryptocurrencies automatically to your bank account when you run out of cash is a bad idea for several reasons.

First, cryptocurrencies are volatile assets, meaning their prices can fluctuate significantly in the short term. If you sell your cryptocurrencies automatically when you run out of cash, you risk selling them at a price lower than what you paid for them.

For example, if you bought 1 Bitcoin for €50,000 and sell it automatically when your bank account is empty, you risk selling it for €40,000. This represents a 20% loss of your investment.

Second, selling your cryptocurrencies automatically prevents you from taking advantage of their long-term potential. Cryptocurrencies are risky assets, but they also have the potential to generate high returns. If you sell your cryptocurrencies automatically, you risk missing out on opportunities for significant gains.

Finally, selling your cryptocurrencies automatically can expose you to additional fees. Some exchanges charge fees for selling transactions. If you sell your cryptocurrencies automatically, you will have to pay these fees every time your bank account is empty.
The only cryptocurrencies that could benefit from this option are stablecoins. Stablecoins are cryptocurrencies whose prices are pegged to a fiat currency, such as the US dollar. Therefore, the price of stablecoins is less volatile than that of other cryptocurrencies.
However, even in the case of stablecoins, selling automatically may not be the best option. If you believe that the price of stablecoins will rise in the long term, it is better to hold them rather than selling them automatically.

In conclusion, selling your cryptocurrencies automatically to your bank account when you run out of cash is a bad idea. This option exposes you to the risk of loss, prevents you from taking advantage of the long-term potential of cryptocurrencies, and can cost you additional fees.
Sincerely, :slightly_smiling_face:

It is impossible to know everything, but it is possible to acquire new knowledge.

That´s my risk if I will loose 20% of the let´s say 50 Euro, which are filled up