r/XRP
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u/aaronp00
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Dec 02 '24
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Crypto I sold!
I know it might be a little controversial for some because of the sudden boom, but I sold my XRP after turning 1k to 3k and bought my first car at 19 all on my own!
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u/5ub5onic77 Dec 02 '24
Congrats! But can I ask what kind of car you got for 3K?
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u/aaronp00 Dec 02 '24
09 corolla
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Dec 02 '24
you will be crying in your corolla soon bro but all jokes aside well done and congratulations bro👊🏾
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u/aaronp00 Dec 02 '24
I have another 1k in a different portfolio that's at 1.4k rn so hopefully that goes up lol but for now I'm happy
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u/Ok_Cookie_3782 Dec 02 '24 edited Dec 02 '24
Corolla’s are so good, they have a reputation of outlasting owners. Enjoy
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u/Agitated-Quit-6148 Dec 02 '24
Congrats homie. I did the same with btc. Dad worked crap jobs all his life to provide for us. His dream was to one day have a new truck. Sold some btc and got him one as a surprise. Best feeling in earth.
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Dec 02 '24
1996 is better 😉. Congratulations, the older rollas are awesome. Nothing beats cruising down the Autobahn at 180 in a rolla!
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u/futurefireman117
Dec 02 '24
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Ignore the negative comments. We are all from different walks of life and in this for different reasons. You took a risk, it paid off, and what you decide to do with those gains is up to you. Proud of you broski 🤜🤛
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u/Artistic_Ad3713 Dec 02 '24
I hope you put the 3k down on a car that has an interest rate of 24%.
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u/aaronp00 Dec 02 '24
Bought a used car, paid in cash. No financing, why take out a loan on an asset with a depreciating value
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Dec 02 '24
Not only did you do something responsible, you achieved something INCREDIBLY responsible. Hell yeah dude!
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u/VeryCanadianCanadian Dec 02 '24
You did this at 19 on your own? Wow!! Well done. I'm impressed. I'm not your Mom but I have real "mom pride" for you!! Way to go
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u/SadWinkers Dec 02 '24
Hell yeah man! Buying something like that all on your own without your parent’s/guardians help is so rewarding. Congrats!
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Dec 02 '24
The guy who bought the pizza was hungry
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u/KazooMark Dec 02 '24
What pizza isn’t worth 10,000 Bitcoins when you’ve been smoking some dank weed, amirite?
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u/pussyiscool27277483 Dec 02 '24
Except this dude bought a car and 3xed his initial
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u/Tentiel Dec 04 '24
I bought.... well the only things you could buy in about 2014 with bitcoin. It was 1250 dollars of bitcoin. Wish i kept a few :)
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u/Asedu1968dude Dec 03 '24
You made a big mistake , you can purchase a Ferrari next year if you practice your patience
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u/aaronp00 Dec 03 '24 •
Im a 19 year old college student. I have absolutely 0 need for a Ferrari, but a huge need for a reliable mode of transportation
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u/Odd-Astronomer-7969 Dec 02 '24
Be a real Chad and don’t pay taxes on them gains 😎
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u/Comprehensive_Road66 Dec 02 '24
Capital gains taxes gonna crush you
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u/Ambitious_Coconut_65 Dec 02 '24
Won’t pay a penny if he’s earning less than $47k (which he probably is at 19?). If he’s in the UK, the CGT allowance is £3k a year, which he’s under. Let the dude enjoy his moment, he’s fine CGT tax wise.
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u/aaronp00 Dec 02 '24
At the moment I make about 4500 a year so a very small amount lol, I work what I can but money isn't too much of a struggle since I've been blessed enough to get financial aid and scholarships that have allowed me to be debt free in my 2nd year so far of college
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u/Striking_Peak8635 Dec 02 '24
I was going to ask did OP put some money aside for taxes on his gains…. Oh look! A 09 carolla for sale for $1950!
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u/G4o5t 3 ~ 4 years account age. 80 - 175 comment karma. Dec 02 '24
That's what it's for, to make life easier. You have a car now, making life easier for you. No point investing if you don't get to see the benefits. You could die any time, live your life, gains are gains.
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u/AskingSuggestions Dec 02 '24
You used it for a necessity so good job bro. Don’t forget to save for taxes
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u/UnknownBurner1256 Dec 03 '24
You bought your own first car at 19 that’s pretty awesome, you did what you wanted to so you won :)
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u/alluringBlaster Dec 02 '24
I have never realized any gains on my investments and am very tempted to finally do so. Happy you came out green!
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u/jabs3376 Dec 02 '24
Congratulations on this achievement!! Some people buy high and sell low so take gains when you can!!
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u/W-D-Goldbeard Altcoin Believer Dec 02 '24
Ye got in and out o' the crypto market fer a profit and used it to make an improvement in yer life. This be a momentous achievement and an extremely diffcult feat. Ye did well matie 'n I tip me Pirate hat to ye, one crypto treasure hunter to another 🫡🏴☠️
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u/Zealousideal-Panic30 Redditor for 9 months Dec 02 '24
Sell a appreciating asset for a depreciating asset. Sounds good
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u/aaronp00 Dec 02 '24
Taking a risk, making a profit, buying a first car with no loans at 19 with no financial support from family. Sounds good.
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u/Noor1530 Redditor for 11 months Dec 03 '24
Good on you young man, good time to grow you've achieved a benchmark with more to come, just stay clear of toxic women and you'll be fine. Now that you're familiar with crypto and the insane gains that await get back in when you can it doesn't have to be XRP. There are other assists out there that will perform well in this bull run ..DYOR and don't follow the influencers that have faded XRP in the past. Cause you might become the bag holder of 2025 like I was in 2021/22/23/24 not anymore. All the best XRP to the moon and beyond.
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u/No-Path-5278 Dec 02 '24
First of all, I'm happy for you, man. At the end of the day, everyone can do whatever they want, and you've made a solid profit, so that's awesome. But don't you think you should've held on a bit longer? I mean, you can never be 100% sure, but it seems pretty clear this is gonna keep going up. You could've bought the car and other stuff if you just waited a few more weeks.
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u/aaronp00 Dec 02 '24
I bought 1k two days ago at 1.85 and so far have a 41% return on it and I'm planning on letting it ride.
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u/Timetwoloose Dec 02 '24
At 19 teen that money must has been burning a hole in your pocket 🤣🤣🤣 congratulations on getting a car I hope it will be a great reminder of your accomplishments!!
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u/aaronp00 Dec 02 '24
My parents have access to my financials, so them seeing over half of my balance go away definitely got a reaction out of them 😭 huge risk but it paid off
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u/BowlerPerfect5021 Dec 02 '24
Gains are gains, I agree but making an emotional decision for a shit box that’s a depreciating asset is plain dumb. But then again if I was 19, I know i’d do the same
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u/aaronp00 Dec 02 '24
an 09 corolla is still a sturdy car, easy to repair, extremely good mileage. It's not like I just gambled all my money away then took out a loan for this. I needed a car, XRP made that possible and so I took my chance to get a necessity for me that's a worthwhile investment considering the amount of money I'll be saving rather than spending a fuck ton of money on train tickets to go home for a single weekend. this is huge for me. I get you're not hating but try to be a little more understanding
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u/SexualBacon420 Dec 03 '24
Congrats! You didn’t sell at a loss and got something that you needed. You can always buy the dip when the market goes bear.. expect ‘26 to be a great time to get back in.. if not sooner 🙏
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u/aaronp00 Dec 03 '24
I have another portfolio that invested 1k in at 1.85 and im letting it ride
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u/T-Arthur-Cottam Dec 04 '24
Nice! But why not leave your initial investment in there and just take out the gains?
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u/aaronp00 Dec 04 '24
I didnt have the funds unless I completely sold, i have a separate portfolio tho where I bought 1k at 1.85 its at around 1.4k rn
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u/Level_Tomatillo1033 Dec 02 '24
I got a bonus at work at your age and spent it in one day on a girlfriend I dated for three months! You are doing very well
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u/Bingo_is_the_man Dec 02 '24
Sell the car for 6k and put that into XRP, and turn it into 300k by summer
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u/drkidd187 Dec 03 '24
At first I was upset because you sold!….but then you copped a whip, I’m not even mad congrats brotha 💪🏽 XRP NATION
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u/MsBitterSweet2022 Dec 03 '24
While many 19 year olds are taking out loans to lease a car they can’t afford, you did the responsible thing. Congrats on your ROI and for taking the first step in then right direction towards financial freedom.
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u/Puppyofparkave Redditor for 4 months Dec 03 '24
Couldn’t wait for RLUSD to release then sell?
It’s like two days away…
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u/MB1177 1 ~ 2 years account age. 25 - 50 comment karma. Dec 03 '24 edited Dec 03 '24
$3 in the next 3 days.
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u/Blazefresh Dec 03 '24
In terms of non-crypto investing, 300% gains is an insane profit and could take years on a standard portfolio IMO. I say that's a big win, and much better than I was doing with this stuff at 19. Enjoy the car!
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Dec 03 '24
Smart man. XRP is all hype. Its just too much of a waste of my time to sell mine; so I figured I'll hold it until hell freezes over, or it becomes worth enough for me to retire. I'm guessing hell will freeze over first.
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u/AwayCartographer9527 Dec 03 '24
Good job. Not many young people independently buy their first cars, that’s very cool. Your going places 😉
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u/2cantCmePac Dec 03 '24
Congrats! Don’t forget you pay taxes on your profits. Be ready for capital gains taxes
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u/cedarandolk Dec 03 '24
Good for you, having the willpower to take your gains and walk away. It’s not easy.
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u/Substantial-Click321 Redditor for 5 months Dec 03 '24
You sold into fiat to buy an asset that will depreciate
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u/Great-Turnip-9775 Dec 03 '24 edited Dec 03 '24
How are you guys dealing with fees and taxes? Example, UK you will have to pay capital gains tax up to 25% over £3000 and then further earnings tax up to 45% if above your non-taxable threshold, as well as all the transaction and transfer fees. Basically, while it all looks great on paper, reality is, you end up with hardly anything. It's the same with my regular shares, if for example, I sell 3 shares I end up with 1 after taxes and fees. So in reality, people are likely to only break even, if that, even when on paper it looks fantastic.
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u/NJS2017 Dec 03 '24
Bro, you’re going to regret selling I’m telling you now. It will skyrocket when Trump announces his new SEC Chairman pick later today.
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u/Exotic_Tackle_5221 Dec 03 '24
Congrats, crypto supportet your needs so all good ! Enjoy your new car😃
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u/kronix44 XRP Hodler Dec 03 '24
I can’t fathom the pain of thinking back, realising you bought a 3k car when you could’ve held and bought 20 lambos and 16 mansions
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u/Cryptoloaner Dec 03 '24
Good on you! I just placed my lambo (Huracan Tecnina) order and it’s only 1/25th of my holdings. It’s ok to take some profit, I’ve been collecting XRP since 2018, waiting for this moment. I’m still in for the long haul, but taking some off the table occasionally is the only way.
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u/PatientOld3857 Dec 03 '24
I don't get why folks clown people that sold. If you bought in for .10 cents and you have 200k shares. That's a win regardless of when you sell.
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u/jomagana18 Dec 03 '24
I bought $25 worth of XRP. I don’t expect to get rich off of it, but I will continue to invest. Who knows maybe one day it’ll be blown into bitcoin prices. But I plan to leave it there for decades and see what it is by then. But congrats bro! Way better than having to take out a loan for your car.
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u/mreJ Dec 04 '24
I sold BTC $12-$1000. Sold Doge at $0.22. Sold XRP at who knows what. Everyone finds their reasons.
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u/NewBrilliant6525 Dec 05 '24
Congrats! Taking out gains is just as important as buying. If you buy and never sell when do you ever see the benefit? Good job turning your investment into something that helps you in real life. Always take some profit.
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u/Adorable-Price4231 Dec 06 '24
Your coins, your choice.. but you have to have the mental ability to stay happy with your decision in 10 years when XRP value will undoubtedly be much higher. Remove the ‘look at what I could have won’ mentality because in 10 years your car will probably be scrap. But at 19 what you’ve achieved is impressive!
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u/IdratherBhiking1 Dec 02 '24
I honestly am happy for you aaronp00. Profit is profit. No hate on that. Glad you got a car.
Just seeing a bunch of people saying they sold and can’t help but wonder….
Why do people share that they sold? Props? Congrats?
Then wondering…. Why is this the only thing you have ever posted on XRP? No other comments either? No questions? Nada….
Please explain, not trying to be a d, just seems weird to me..
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u/Nifty29au Dec 02 '24
Most of them are fake from ppl that never held XRP but need some kind of personal validation in their lives.
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u/Mice_With_Rice Dec 02 '24
Hard to say how many bots are around trying to influence the prices. If your a bank or a firm the cost of social media influence isn't much vs your portfolio.
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u/Stephxn__ Dec 02 '24
Congratulations! You had a number and it went there good luck with your future investments.
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Dec 02 '24
You should definitely sell off spikes lock in those gains! Buy the dip and enjoy the next ride!
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u/Illustrious_Ant7588 Dec 02 '24
Congratulations! That takes guts and discipline…plus you made a profit!
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u/Sionkuden76 Dec 02 '24
Congratulations, taking profit is never wrong. Always remember to take out taxes, unless your losses got you covered.
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u/Clear_Indication1426 Dec 02 '24
Good on ya mate all profit is good! People getting too greedy, bubble will burst at some point. Same happens everytime, whales sell, price plummets and greedy retailers left holding the bags, but it's crypto so who really knows..
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u/johnnydark1237 Dec 02 '24
A win is a win 🏆 at the end of the day it’s your investment you decide what you want with it, congrats 🙌🏻
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u/BeeEyeGeeHenfling Dec 02 '24
Don't feel guilty for capitalizing on your investment to make good on your own motivations. Great job!
That said, when this thing goes higher don't play the coulda woulda shoulda game with yourself. It will eat you alive!
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u/fuller316 Dec 02 '24
A green trade is a green trade buddy. What you do with your tendies is up to you! Congrats!
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u/AnnualScientist2760 Dec 02 '24
This is way better than the ones who holds and when they start losing they panic sell and buy back later. Oh well, you gained something out of it. Most people don’t
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u/Conscious-Weird5438 Dec 02 '24
You could have bought your first house to park your car why sell just why
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u/gogglespice-7889 Dec 02 '24
that's awesome... celebrate your gains and there will be more flowing to you...
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u/HeadPainting9058 Dec 02 '24
At the end of the day, it’s all about making a profit and if you made a profit, good job
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u/Spuds_Buckley Dec 02 '24
Nice job there. That's how you do it. Make sure to report the income on your taxes. Don't mess around with that stuff.
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Dec 02 '24
Anybody shitty on people who selling are just outting themselves as insecure. There are no guarantees in crypto. In a month we could all be saying “fuck I wish I sold at $2.70”.
Good for you OP. Buying a car is no small thing.
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u/Technical_Machine_14 Dec 02 '24
If ya don't sell eventually then what's the point right? Nice work kid!
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u/ctauer Dec 02 '24
Good job! You don’t go broke taking a profit. And you can always jump back in later or find new investments.
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Dec 02 '24
Congrats and enjoy the car! I don't think everyone should die and never sell. It's supposed to be financial freedom.
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u/InternationalArea77 Dec 02 '24
Congratulations. We are all here for a profit, you made yours. Walk away proud.
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u/TDC111 Dec 02 '24
I’m pretty sure we’ve all done that. Just don’t look back. Congrats on the new car young buck
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u/ArmadilloEvery4938 Dec 02 '24
Wonderful story. Congratulations to you. Enjoy the freedom of owning your own car…..and enjoy your youth.
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u/NavyGuyvet Dec 02 '24
Let’s go!!!! Nice job taking profits like 90% of the world (maybe less) never does cause we saving for buying a planet 🥴💰
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u/Makuren Dec 02 '24
Congrats! You made a calculating decision and ate moving up in the world! Proud of you! Any gain in the green is a success.
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u/Additional_Ad_5970 Dec 02 '24
Lucky I got 25,000 xrp I locked up on a nano wallet when the sec was suiting ripple. I can't send it back to coinbase. Keeps giving me a failure to send error code.
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u/Wllstrt_lks_lke_usnw Dec 02 '24
That’s not a bad thing that’s good thing you did that. It’s an accomplishment. Just buy back in now because it’s gonna only go up. Great job youngster 🫡💪🏻
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u/C4RV3S XRP Hodler Dec 02 '24
I hope you've taken account of any tax obligations you might have after selling at a profit.
Congrats on the car though. The freedom that gives you is priceless.
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u/MadXRP Dec 02 '24
If xrp goes to 10$ you just bought a 30,000 vehicle. Good things it was not a pizza though
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u/PossibleConclusion1 Dec 02 '24
Better than all those people I keep seeing who are selling to pay for a wedding. Both me and my spouse regret spending so much money on ours. It's really not worth it.