Dear friends,
I need your advise on taking advantage of this bull run. I want to sell/exchange some btc when it goes to ath ( if it does) from my hardware wallet.
First of all do you suggest to sell btc to fiat or exchange to a stable coin? Instead of fiat I was thinking of stable coin. I never used any stable coin before so I am not sure which one will be best choice. Tether or other USDC etc?
It really depends on what your goals are.
If you want to use your proceeds for trading purposes, by all means, I'd say stablecoins are fine. Even though USDT potentially has major underlying problems, for the moment and foreseeable future it is fine. USDC as you mentioned is better and it also solely runs as an ETH token -- if you plan on doing trading for ETH tokens then any of the stablecoins based as ETH tokens are a better option than the Omni version of Tether.
If you need the money for real life things and need cash, you're better off sending your BTC to a major exchange like Bitfinex, Coinbase, Kraken, Bitstamp, KuCoin, Binance, etc, and converting your money to fiat there so you can withdraw it to your bank account.
End of the day... even if you hold your money as USDT for months or possibly even years, you're probably fine.
I did my due diligence an found out exodus wallet may be the safest to exchange to convert to stable coin. I used exodus wallet before and quite happy with it. you can get your 24 word seed in Exodus but the down turn is, the company also has access to the private key. I can't think of any other better exchange.
Does Exodus perform some sort of conversion for a fee? Can you calculate what the fee is about? Regardless, it will almost always be cheaper to convert your coins to cash on a real exchange.
