What most people would think might be dumb, for me, it was a semi-big hurdle. Ever since I was a kid, I was groomed to pinch pennies and look at the little dollars instead of the bigger picture. So it took me over a decade to get over that mindset and inch towards where I wanted to be: a big ass whale.
I first learned about purse.io a few years ago and never was able to pull the trigger due to the wide price discounts and being unable to process the thought of giving up $10 in fiat for the equivalent lesser value in $BTC. But that was thinking small and not looking at the bigger picture. You see, there are levels of each earner in purse.io; this blog post today isn't going to be a tutorial for how to use it as an earner to earn some $BTC (You can learn about that here). No, it's to let you know about how I went out of my comfort zone (incrementally) by 5% to level up in the platform.
You see, the bigger picture is in the algorithm. The more purchases you do, and the more you level up, the more you will be able to earn and grow your $BTC bags as the effective rate shrinks. That means the higher you go, the better your rates at being able to earn Bitcoin for each shopping trip will be. You just have to build up your resume within their system. Timing is also crucial in this game as you want to be able to buy when others are selling, and dollar cost average your bag at a good price. It's up to you what you want to do, because there are so many different investment styles. There is no right way to go about it here.
I talk about doing this in my blog over at Dividend Raptor. In that post I went over how to get free Amazon gift cards and then exchanging those free cards for Bitcoin. I talked about how I was going to test this platform out, and true to form, I did it. It was definitely super easy to do, and Purse.io made it seamless to track the purchase in real-time.
This is essentially what I did. I had some cash still left in my gift card balance over at Amazon, and then later found that I could link my rewards card from SavorOne to Amazon to use my cashback bucks to further consolidate my purchase for the customer. As soon as I purchased for the customer, I immediately paid off my remaining balance on my credit card (which came to about $10, or $6 principle + $4 extra, because I snowball method my debt).
Now, the purchase is pending shipment with an expected delivery date for this Saturday 3/28/20 and my Bitcoins are in escrow as it further awaits the purchase to close. As a level 1 earner I am at the bottom of the totem pole, and so I am limited to just 2 transactions before I level up (the image is dated). That's why the effective rate (the price of USD per $BTC) at which I can earn is quite high. But because I consolidated my purchase with free Amazon gift cards, and because Bitcoin is at a good price to buy in at (with further room to go down), it's a decent entry in as I compound my bags with dollar cost averaging, and as my resume in the platform grows. It's also a good way to increase Bitcoin without going through an exchange, which I find troublesome.
This is a really cool platform which offers incentives for both purchasers and earners, and is essentially a win-win if you use my method for accruing Amazon gift cards at a rapid rate (with high sweat equity). I'm a big believer in growing 5% every single day and compounding little dividends from unconventional sources, that don't require much work but DO require much consistency. I believe consistency and feeling like the small dividends being futile are where most people quit. I've been there as a young Millennial, but now as an older one, I have seen the value of compounding small dividends and increasing them drastically over time. It's why I created my blogs to showcase my growth over the long term and to show my gains and losses in real time.
Thanks for reading my first blog post on this platform. It's truly an incredible platform with a lot of reach. I appreciate the founders and architects at Publish0x to grant me the incredible opportunity to be part of such a warm community. I may be a big shit talker over on Twitter, but I do have a warm heart deep down inside my autistic heart. Till the next dividend vortex...