Let's face it, we would all like to have more bitcoin. No matter how much you have in your portfolio, it never feels like enough. The majority of people reading this article probably believe that owning bitcoin or cryptocurrencies could generate life-changing wealth for many people. That is a wonderful thing if you have the money to invest.
But the problem is that many people do not have the expendable income to have the luxury of investing into assets like bitcoin and ethereum. It can be a very frustrating dilemma for people for many reasons. They have discovered bitcoin and have come to the conclusion that it is a must-own asset and possibly the future world reserve currency. Something that could change the fate of their families' lives.
But they don't have any money to invest into this asset category. And unfortunately with the world situation the last year, it has only become worse with many people out of a job and have a hard enough time to even afford their own bills; before even thinking about investing. The difficult thing is that even in the cryptocurrency markets, it still does require money to make money.
But what can you do about? How can you improve your situation?!
Well let me first say that everyone's situation is completely different and what may work for one person, may not work for the next person. These tips that I will be talking about will not make you rich, but will help get you started to have even a small amount of money to put towards bitcoin. The important thing is to get off zero, and once you do, continue adding to that stack.
Not only is will these help you to buy some bitcoin, but also it will provide lifestyle/financial tips that could help in other areas as well.
1) Budget, Budget, Budget
The first thing I always recommend is to budget, budget and then budget some more. If money tight for you there is a large chance that perhaps you are spending money where you don't need to be. It could be that you are going to Starbucks too often, or perhaps you're eating out at fast food or dine-in restaurants. It also could be that you are paying higher prices for name-brand products; be it foods/snacks, clothing, body care products and so on, or even buying things you don't need. After you have documented where each and every dollar of yours is going towards it becomes very easy to cut corners in some places and find yourself having extra money. You don't need to cut everything out of your life, but you will be surprised how much you can save by making small changes here and there. This has worked wonders for me.
2) Selling Things in Your House
Most people would be very shocked to find out just how much money they have just lying around their house in unused item. A great way to make extra money to using websites like Ebay, or Amazon to sell video games, Pokemon cards, sports cards, electronics, old iPhones or smartphones, memorabilia, brand-name products and almost anything you can think of. Last year I decided to sell a large amount of the Pokemon cards that I've had since my childhood and it netted me a very nice amount of money that I immediately reinvested into bitcoin. And since then the price of BTC has gone up significantly making my investment that much better.
Spend a few hours going around your house looking for things to sell. The interesting thing about doing this is that not only will you find things to sell. But you will also see so many things that you wasted money on. By having this revelation; hopefully that will help you to be more careful in the future for what you spend your hard-earned cash on.
If you are reading this are already heading in the correct direction. There are chances to earn a small reward by just reading and participating on places like Publish0x, Read.cash, Hive, and also Uptrennd. If you have only been a reader on these platforms just taking a chance by writing some of your own articles.
My big piece of advice for this is to always try to post high-quality content. Yes it requires more time to produce higher-quality content, but you will soon learn that producing high quality content and also taking pride in your work is the best way to build a following; which will bring you the highest rewards. Not only that, but people seem to be much more friendly towards your posts when they feel you put a lot of effort and even research into your posts.
Just last year I decided to begin blogging myself and I have been amazed at the progress that I have made. If I can do it, you definitely can too.
4) Lending Out Your Bitcoin and Dollars!
If you have bitcoin, you can earn a great interest-rate by lending it out on services like BlockFi who currently offer a rate of 6%. If you have bitcoin this is a great way to earn a free passive income in bitcoin.
But perhaps you don't have bitcoin; what should you do? You can lend out your dollars on BlockFi as well! By exchanging your Dollars for a dollar stable coins such as USDC or others, they offer a rate of 8.6%. And the great thing is that you can choose for that to be paid out in bitcoin as well.
For quite a while I had been looking at BlockFi unsure if I felt comfortable using it. But now I have been using it for more than a year and have loved every moment of it. Depending on the price of bitcoin at any given moment, I have been earning more than $300 per month just by lending out some of my bitcoin on BlockFi.
You can sign up here!
5) Don't Waste Time on Cryptocurrency Faucets
Your time is valuable and you need to be treating it as such. There are websites called faucets that give out free crypto, but it is literally is so small of an amount that it takes up hours and hours and months of your time to get to an amount that is anything worthwhile. And then when you do get to that point you will find out that many of these faucets make it very difficult to withdraw; meaning you wasted all of your time.
I would recommend getting a side-job that could bring in some extra income. This could be literally anything. Driving Uber, or Food deliveries, a once-a-week shift at McDonald's or your local super market. It could even be once a month and still end up being more than what you will make from using cryptocurrency faucets.
One of the hardest things for changing your financial destiny is putting a value on your time. By the time you withdraw your crypt from the faucets, if you do the math you will realize that you were doing these faucets for $0.02 per hour if you were lucky. I like to value my time the same as my jobs pay.
6) CoinBase Earn - The Internet is Your Friend
If you haven't signed up to Coinbase yet; there is a great chance for you to earn quite a significant amount of cryptocurrency. Potentially over $200 worth and its very simple. All you need to do is go to Coinbase Earn, watch some short videos and then take a short quiz on it. After answering the questions correctly they will give you free crypto! If you are able to refer some of your friends you can receive much more!
But if that isn't your thing, that is okay! The internet is your friend and the possibilities are endless! There are so many opportunities to make money and all you need is a computer and possibly a smartphone. Starting your own e-commerce website, using the Brave Browser for a small passive-crypto income, finding higher paying jobs, using your skills to perform tasks, and it really unlimited. If you have a skill there is a very good chance that someone is looking for and needing that particular skill as well. All you need to do is to devote time to search and discover these opportunities. The internet is a golden place for people who are entrepreneurs.
Like I mentioned before, none of these things will make you rich, but I hope they will give you a little extra cash that allows you to invest more into bitcoin, ethereum and more. The incredible thing is that once you change my mindset, and begin to work towards your goals it is incredible how much easier things become.
So I want to know what are you doing to have extra cash to invest into bitcoin, ethereum and others!? What has worked well, and what hasn't worked out so well!?
As always, thank you for reading!