Wallets with low conversion costs.
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If exchange fees on Exodus are cutting into my earnings and age limits restrict many platforms, should I be focusing more on wallets with lower conversion costs, or reconsider whether converting to USD is even the best approach for my under-18 crypto setup?
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@Charles said in Wallets with low conversion costs.:
If exchange fees on Exodus are cutting into my earnings and age limits restrict many platforms, should I be focusing more on wallets with lower conversion costs, or reconsider whether converting to USD is even the best approach for my under-18 crypto setup?
If transaction fees are draining your profits, it’s often smarter to hold tight rather than constantly swap for USD. Many younger investors in the U.S. use non-custodial wallets to store their assets, converting only when absolutely necessary to avoid high costs. You should also compare different networks and swap routes, as fees vary significantly.
As you wait to meet age requirements, stick to a simple strategy: limit your moves and plan conversions to protect your earnings.
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I'm using non-custodial wallets to avoid fees and holding long-term, but I struggle with the timing. How do I balance being patient with knowing when to actually rebalance or take profits? As a young investor with a small portfolio, I want to avoid losing gains to fees or taxes, but I'm scared of missing opportunities.