Why I Am Selling My Crypto & Best Way To Do It (Ledger Live & Nexo Tutorial)

[@SmartMoneywithKai]

► Sign up to Nexo and get $25 worth of Bitcoin 👇 smartmoneywithkai.bcns.ai/nexo

[@maxrates]

Polygon is a layer 2 chain built on top off Ethereum. It has the second highest TVL and volume of all layer 2s today. There are many competitors though and simply holding Ethereum might be better, as all the layer 2s use Eth in some way. Another problem is that people gravitate to newer projects rather than old ones.

[@SmartMoneywithKai]

Absolutely, those are some solid insights on Polygon and its place in the blockchain world! Thanks for sharing. 🙌

[@newruestudio7499]

Kai, you have a fresh approach on the topic. Not the usual alarmist pump and dump. As a trainer myself I can see that you are one also and I appreciate your approach and your passion.

[@SmartMoneywithKai]

Hi 👋 Thank you so much for the kind words! 🌟 It truly means a lot to me. Keeping things real, clear, and grounded in solid advice is what I'm all about. Just like in training, where it's all about consistent effort, good habits, and understanding the fundamentals, I believe investing and building wealth should be approached with the same mindset. Thanks again 🙌 Cheers

[@davegardner5246]

Good work Kai. Keep the videos original like this. All of the usual finance KZbinrs constantly regurgitate the same content And copy each other.

[@SmartMoneywithKai]

Appreciated Dave 🙏 I feel the same though of course that’s what gets clicks but I’ll stick to my way. While I surely do get inspired by other KZbinrs out there in the space, try to carve my own niche 😉 Thanks for your support along the way 🙌 Cheers

[@TechnologyHustler]

Bro your videos are 🔥🤝 I like how honest you are and I find it funny the stuff I have questions about you have answer for always in your videos 👌👍🏻

[@SmartMoneywithKai]

Haha, love to hear that and appreciate your kind words, will keep them coming and hope to find just the right answers to your future questions 😉 Cheers mate

[@Success_is_inevitable]

Hi Kai, nice video. I´m thinking about selling my ETH bag, but not 100% sure. Why do you think it will go higher and how high, of course your opinion :)

[@SmartMoneywithKai]

Thanks a lot mate. We shall see. Today is the upgrade to ETH, whatever that will mean:) Will hold it a few more days and if no major changes, will convert to BTC 👌

[@AndyRoma68]

well, yes, my advice worked well 🙂 Ledger and nexo, best couple in cryptos

[@SmartMoneywithKai]

Absolutely mate 😉👌

[@kyoshikozan1712]

Love your videos and your style Kai, keep it up!

[@SmartMoneywithKai]

Awww. Thank you so much, amazing to hear that 🙏

[@amaros2118]

Does ur BTC amount in ur crypto wallet goes up proportionally with the BTC trading chart?? This always confuses me.. hope you get my point

[@SmartMoneywithKai]

Hey there! 👋 Absolutely, I get what you're asking. The amount of BTC (Bitcoin) in your wallet stays the same unless you buy or sell. However, the value of your BTC in terms of fiat currency (like USD, EUR, etc.) changes with the market price. So, if the BTC price goes up, the value of your BTC holdings increases proportionally, and vice versa. It's like having a gold bar; the weight doesn't change, but its value fluctuates with the gold market. Hope that clears it up! Keep those questions coming. 💡💰

[@amaros2118]

@@SmartMoneywithKai wow thanks for answering this . I'd pay u a fee for that 😅😅

[@SmartMoneywithKai]

😂😂😂 My pleasure 🙌

[@amaros2118]

@@SmartMoneywithKai how can I sell it safely? Or just turn it into Usd? 🙏

[@SmartMoneywithKai]

@@amaros2118 Easiest to do it via your crypto exchange, there you can exchange it into any other crypto or FIAT currency such as USD, EUR of your choice and then withdraw it to your bank account if you wanted to 👌

[@amaros2118]

I have a dumb hypothetical scenario 😅😅; What happens to our stored crypto if the electricity goes off forever 😅? Have you ever thought about that?

[@SmartMoneywithKai]

Oh, you've just opened a treasure chest of fun with that scenario! 😂 Imagine a world without electricity - I mean, when was the last time any of us lived a day without chasing our phone’s battery life or binge-watching our favorite shows? It’s like imagining a day without coffee - pure chaos! So, if electricity decided to ghost us forever, honestly, crypto would be the least of our worries. We'd be too busy figuring out how to not accidentally walk into walls in the dark or explaining to puzzled teenagers that, once upon a time, "streaming" was not something you did with a fishing rod. But let’s not forget, technology is more like a cat with nine lives; it always lands on its feet. It’s only getting smarter, faster, and more resilient. And in this hilariously dark world you've conjured up, I’d be that guy, with my solar-powered battery charger, casually logging into my crypto wallet, while everyone else is trying to remember how to send smoke signals. "Oh, you're trading canned beans? Cool, I just checked my digital assets with the power of the SUN!" 😎☀️ Let’s face it, a day without electricity in our hyper-connected world seems as likely as me giving up my morning coffee - not happening! But hey, it’s always good to have a laugh about these what-ifs. Keeps the brain juicy and the spirits high! Cheers and happy weekend

[@chopsuey69]

Hi Kai, like the honesty about altcoins, in this case Polygon and Ethereum. Seeing you still use Ledger Live, maybe an interesting topic for a future vid is why so many people don't want to use it anymore (because of the built in backdoors, which we can't verify because of close-sourced software). Good luck everybody ! Have a nice day 😀

[@SmartMoneywithKai]

Thanks a lot and glad it resonated with you 🙏 You are absolutely right. Nothing in the world of tech and crypto is ever 100% secure, and that includes our choices for managing and storing digital assets. I'm always on the lookout for the best options out there. While other wallets and platforms might have their own set of issues or might be too new to fully trust, I've leaned towards using Ledger as I feel it balances security and usability for now. But you're right, it's crucial to keep our eyes peeled and not get too comfortable. Keeping crypto off exchanges is a step towards safety, but the journey doesn't stop there. We've got to stay vigilant and ready to adapt. Thanks for sparking this important convo! Cheers 👋

[@petrospaulos7736]

I don't think selling matic right now is a good idea because you have the biggest loss you can get. Unless you think it will go down to zero ...

[@SmartMoneywithKai]

Not really, I am still in plus so just realising my profits. Is it the perfect time? Maybe not but works for me and I want to shift fully into BTC👌

[@petrospaulos7736]

@@SmartMoneywithKai You are trading the pair MATIC-BTC. This pair is in its all time low (if we see the last three years history). So, you are selling the dip (instead of buying it). I understand that you have concerns about what is going to happen to altcoins, but you lost money in that trade (unless you bought in 3 years or more ago...)

[@SmartMoneywithKai]

Great point, luckily I did 😉👌

[@purefreedom282]

don't they have Matic on Nexo Pro? Nexo pro is cheaper than Nexo simple convert on the platform. I don't trade alts so I never paid attention

[@SmartMoneywithKai]

Hi, they might do so yes, technically cheaper, but given my small volume and the fact that I am now Nexo Platinum member again with 0.5% BTC cashback per swap, I am good on the regular Nexo platform. Cheers

[@purefreedom282]

@@SmartMoneywithKai true , didn't think about that

[@SmartMoneywithKai]

BTW, I actually just tried Nexo Pro for the first time and wow, super easy and yes, even being Platinum, it's still much cheaper, so will surely do this more often, thanks for the tip 👌

[@purefreedom282]

@@SmartMoneywithKai yes you did good. Sometimes there are some bugs(usually deposit and withdrawals are instant though) but they get resolved pretty quickly and there is usually a lot of liquidity for example between BTC and usdt

[@purefreedom282]

@@SmartMoneywithKai good that you tried. I used it only with BTC usdt and there is a lot of liquidity at all times. Sometimes there are bugs though but they get fixed pretty soon. Once my deposit from the platform was delayed a couple of hours but usually deposits and withdrawals from Nexo pro to platform and vice versa are instant