Ah, taking profits. That moment when you sell your crypto for more money than you paid for it! 

Cashing out. Realizing gains. Making money. Call it whatever you want—everybody tells you to do it.

While that’s generally good advice, you may want to take a moment to consider the consequences. I’ve lost a lot of money by taking profits. I think about it every time I look at my portfolio.

I’d hate for you to suffer the same fate.

Never let me stop you from doing whatever you want with your crypto! Read these four tips before you pull the trigger.

1. Recognize the situation

Does your crypto’s price chart look like the one on the left or the right?

If it looks like the one on the left, you're probably selling too low. Sure, you’re up 50% from the bottom and approaching the top of an upswing, but you might want to ride out the volatility unless you really need that money. 

If it looks like the one on the right, okay, go for it, just remember that this market can keep going up way higher than you could ever expect. Prices could double or triple, even during bear markets. Make sure you're prepared to miss out on all that upside.

Of course, you also have to consider market conditions. No worries! I talk about this in my updates for Crypto is Easy premium subscribers (and a little bit in the free content, too).

2. Remember your taxes and fees

Do you live by the mantra “sell half at the first double?” 

Cool. Sell more than that. You need to pay your taxes!

The rest of this post is for premium readers only.