What is the escape route? Blockchain and NFT don't get hot!

What is the escape route? Blockchain and NFT don't get hot!

【Foreword】

Good day, my friend, I am Brother Stone - your career mentor . Yesterday, I shared with you the first goat NFT (Non-Fungible Token) I purchased, which cost 0.4 SOL (about 2,400 yuan). The classmate asked: If the price of NFT fluctuates violently, I am worried that before I can’t sleep, how can I withdraw and convert it into NTD?

It is indeed a good question, I have never tried it, but... 🎯 I can't wait for a fire to find an escape route.

【Cryptocurrency fluctuations and escape methods】

Next semester, since there is going to be a "risk management" course, how can I bring everyone on the bus without first rehearsing, rehearsing, rehearsing how to quickly escape? After all, my point is not to teach profit like a stock market leader, but to let everyone know how to buy virtual currency in small amounts and how to withdraw.

"Is Earnings Volatility Really That Serious? 》

🎯 First, let’s look at BTC Bitcoin:

Bitcoin (Bitcoin) is the earliest cryptocurrency that uses blockchain technology. It has been 12 years since its release in 2009. During the epidemic, the cryptocurrency skyrocketed, from a low of 1 Bitcoin = USD 18,036.52 to a maximum of 1 Bitcoin Currency = USD 67,525.83, which is equivalent to breaking the 1.82 million mark from 486,000 in Taiwan dollars. (Benchmark: 1 US dollar = NT$27)

🎯Look at ETH again: Ethereum:

Since the development since 2013, although the price is relatively stable, let us look at the phenomenon of capital hedging caused by the printing of money in various countries during the epidemic. From the low point of 1 ETH = USD 544.43 to the highest = USD 4,807.98, equivalent to NTD from 15,000 to 120,000.

Looking at the sharp rises in the two major currencies above, my jaw was dumbfounded.

🎯 Then let's take a look at one of the platforms of DeFi (decentralized finance, decentralized financial institutions) - Binance, can it be safer?

In 2017, he also launched BNB Binance Coin, which is currently the third largest by market value. The price can always be relatively stable. He went from a low of 1 Binance Coin this year = USD 27.34 to a maximum of 1 Binance Coin = The US dollar is 676.15 yuan, which is equivalent to about 378 yuan in Taiwan dollars to break the 10,008 mark.

In other words, if you smelled that the epidemic was serious at the beginning of the year, the government printed money to save the economy, so you spent 10,000 Taiwan dollars to buy Binance Coins, and your wallet is now 🈵️🈵️🈵️:

🎯 Originally your NT$10,000, now ==== NT$476,000

"How to find an escape route? 》

1. What is "fiat currency":

In order to distinguish it from virtual currency, we refer to the currency issued by these countries as legal currency (that is, legal currency issued by the government).

2. What is Stablecoin:

Stablecoin (English: Stablecoin) is a so-called safe-haven asset; it is a form of cryptocurrency that imitates traditional fiat currency, and is also a good "intermediary currency".

The largest market caps are: BUSD, USDT, USDC.

Tether (USDT): USDT=, the USD stable currency issued by Tether, is also directly exchanged for USD.

🎯BUSD coin: It is a stable coin jointly developed by Paxos and Binance; general information shows that this is relatively safe.

USDC currency: It was initiated by Circle and Coinbase and governed by the consortium Centre.

"Case Description"

♟Case: Xiaoying bought 🐐Goat NFT on SolGoats and spent 0.4 SOL coins. Now the price has broken through 30 SOL, and it has fallen back to 22.2 SOL. Another 🐐Goat NFT has fallen to 7 SOL. Xiaoying wants to take profit temporarily.

♟How: Xiaoying can sell the 🐐Goat NFT in Magic Eden trading and get back SOL coins; if the currency fluctuates, convert it into USD stablecoin (BUSD) and deposit it in the wallet, or even exchange the stablecoin for NTD.

♟ I want to learn how to buy SolGoats goat NFT for one or two thousand yuan mentioned in yesterday's article? Some readers said that he also wanted to try to see how to buy NFT step by step. I just saw that someone released the airdrop, you can go to Magiceden link 🔗 to buy it, you can teach and learn from each other with Little Frog 🐸 🐸 and Brother Stone!

Website: https://www.solgoats.art/

Twitter: https://twitter.com/SolGoats

Discord: https://discord.gg/JEHSpHG3 (It doesn't matter if you don't understand English, look for the little frog of the wind🐸, he is really good and you can translate it)

【in conclusion】

Although we mentioned that the general cryptocurrency is converted into stable currency , the loss is relatively large, and you should not exchange it at will, but it is urgent to protect the capital, and it is also a problem whether the NFT will hang but not sell . Therefore, Brother Stone suggests that when you buy NFTs, you should first understand when his NFTs can be listed on the trading platform? Otherwise, buying it is the same as buying a JPG file. At present, it can only be explained theoretically. Brother Shi still has to go through the process himself to determine whether it will be stuck? Are you sure it's feasible to switch to hedging in this way? Or is there any other better way? Then Step by Step, make it into a teaching file.

We also welcome the advanced suggestions here. Thanks~ for your pointers.