So you just made an embarrassingly huge pile of profits in the cryptocurrency market... and just about now, you are wondering how you can lock up some of those gains, without a bunch of hassle... Before FEAR kicks in and the bountiful bit bubbles lose 80% of their ‘ethereal’ value.
The first thing that you need is a Bitshares Open Ledger account...
... and what do you know :p here's my affiliate link --> https://bitshares.openledger.info?r=freedom-engineer
Transfer your ETH or BTC directly into this account and buy whichever derivative that you want to use as a hedge.
Your choices are bitGold, bitSilver, bitUSD, bitEUR, bitRuble and bitCNY.
I have sold off all of my crypto except my STEEM.
I bought bitSilver, bitGold and even some bitUSD and now I can watch stuff slide back to more rational valuations.
It worked great because I did not want to repatriate my profits back into the old world banking system, where they would not be handy for future cryptocurrency investing.
You know, when there’s blood in the streets.
On the other hand, tonight's 10% general sell off might be a slight correction, before fear’s antithesis… GREED gets the lemmings stampeding back up that mountain pass, where the air is obviously a little too thin for cognitive thinking.
Time will tell.
