This article explains how to easily withdraw crypto assets to the rupiah. How to withdraw crypto assets will be an important thing to know before you delve into digital asset trading activities.
For information, withdrawal is one of the important technical terms for a crypto asset trader to know, especially for beginners.
The term withdraws or WD refers to the act of withdrawing funds. Even though it looks easy, there are many traders who often make mistakes when withdrawing their assets.
So in order to get a firm grasp of this term and to prevent you from making a mistake when you do it, let’s check out the full review below.
Definition of Withdraw
What is withdrawal? Basically, this term refers to the activity of withdrawing funds of capital/profit a trader earned from trading activities.
When you trade, the withdrawal process will be divided into two, as explained by the following:
- Capital Withdrawal: this activity refers to an action of withdrawing money or previously deposited capital for trading any asset.
- Profit Withdrawal: This activity refers to an action of withdrawing money or profit earned from trading activities.
However, when making withdrawal, you need the right time and strategy so that you can get maximum profit out of your trading activities.
On the other hand, it is also necessary to know that there are several purposes for this withdrawal, among others, as a way to get / profit from the trading process that has been carried out within a certain period of time.
Another goal that is no less important is that this withdrawal can be an “exit plan” strategy when you are trying to save your assets from losses due to significant price drops.
Strategy Needed to Withdraw Crypto Assets
In withdrawing crypto assets, there are several strategies that need to be done to prevent you from suffering losses and getting maximum profits. Below is the review.
- Determining Withdrawal Period
Determining the time period for withdrawing funds is important. In this case, the fund disbursement period must also be adjusted to the trading strategy that you are doing. Basically, you can set a withdrawal period every month or once in a few weeks.
- Setting Price Target
Through this second strategy, you will need to set the target price of your crypto assets before you decide to sell and withdraw it.
- Depending on the Profit Percentage
The next strategy will require you to determine the percentage (%) of profits that you will withdraw and the percentage of funds that you will reinvest into crypto assets.
Mistakes Investors Make When Withdrawing Crypto Assets
When withdrawing crypto assets, investors usually make some mistakes, especially if the disbursement process is carried out in large amounts. Here’s the explanation.
- Withdrawing all the funds
Interested in cashing out all the trading profits you get? Wait a minute! You’d better reconsider that. Because, the tax payment that will be charged for this activity will certainly be big, in line with the amount of funds you withdraw.
Therefore, traders are strongly advised to withdraw according to their needs, so that tax payment from the activity can be minimized.
- Don’t Sell At A Loss
If you as an investor want to avoid big losses, one way to do that is to cut the losers or sell assets which have bad performance and the price tend to decline further.
In this case, you must get familiar with the term cut loss, which means a situation when an investor will sell their investment instrument at a lower price, resulting in a loss. This is important to do to prevent the bigger losses.
- Don’t have a withdrawal plan according to your needs
The temptation to withdraw (WD) assets will come to those who do not have a fix spending plan about their financial needs in the future. Hence, this type of investor/trader will make withdrawals whenever they need funds.
Whereas that action will only cause problems and losses. Therefore, it is important to remember that the investment made must have a clear purpose, including when to withdraw funds.
How to Easily Withdraw Crypto Assets
Below are some easy ways to withdraw crypto assets to Rupiah that you can try.
1. Crypto asset exchange platform
The first way to easily withdraw crypto assets is to access the platform of bitcoin and other digital assets’ service providers.
If you want to exchange your crypto assets for rupiah, then you can click the sales menu to sell crypto assets according to the prevailing value at the time of the transaction.
After the selling transaction is successful, you can immediately send the money from the sale to your bank account.
However, with this method, you cannot cash out bitcoin or other crypto assets via other digital platforms/wallets. However, for Indodax members, you can withdraw at Indodax.
2. Via Crypto Asset ATM As A Way to Withdraw Crypto Assets
Next, you can withdraw via crypto assets ATM. This ATM is the same as banks’ ATM machines in general. Using that machine, you can later buy and sell crypto assets.
However, different from the common ATM machines, the crypto asset ATMs cannot be accessed using a debit card, but by scanning a QR code linked to a crypto asset wallet.
If the ATM is connected to the wallet, then you can sell the crypto assets according to the desired amount.
Later, the assets in the digital wallet will be converted into cash equivalent to the number of crypto assets sold.
3. Peer-to-peer (P2P) Transactions As A Way To Withdraw Crypto Assets
Through a peer to peer network, crypto wallet owners can connect and make transactions of their crypto assets. In short, you will sell your crypto asset to a buyer who is willing to pay a certain price for the asset.
If they have paid in cash or transferred to a bank account, you can immediately pass on your assets to the buyer’s account.
Let’s Invest in Crypto Asset This Instant!
Interested in investing in crypto assets? You can start right now on Indodax!
For information, Indodax is the largest crypto asset trading platform in Indonesia with 5,505,965 verified members.
Join now and get maximum profit by trading with Indodax! Let’s check out other recent reviews about digital assets only at Indodax Academy.