Bitcoin, Just In Case It DOES Reach $1 Million!

By lafredet | Passive Income Junkie | 18 Sep 2023


I don't know if you are like me, but my confidence in cryptocurrencies is pretty much completely shattered.  I was a pretty strong believer a couple years ago, and actually had it in my head that I would retire off of crypto.  It was a little rocky to start, but once I learned my way around defi in crypto, I did actually have a nice little successful period.  I was totally gung ho!  I had my hands in the latest blockchains and everything form of investment I could find, from staking, investing in master nodes, buy Initial Coin Offerings (ICOs) and selling them for profit, yield farming, trading bots, leveraged lending, and any other way I could find to make a quick profit.  I re-invested everything and kept growing my  crypto pile as quickly as I could.  I wasn't getting super rich or anything, but at one point I thought of taking my profit and buying my wife a nice new car.  Unfortunately, I didn't end up doing that, because I was too obsessed with "growing my base" so that I could retire off the residual income.  

That didn't pan out very well in the end.  Things took a turn a little too fast for me, and I was a little to confident in the ability of the crypto market to recover.  Needless to say, I ended up loosing the majority of my profit, and decided to bail with my initial investment principle in tact.  After I licked my wounds and paid my taxes I moved my money into traditional investing.  You can read about that here if you're interested.

I did end up keep a small amount of crypto in 2 places.  I've always got that fear of missing out (fomo), in the unlikely case that Bitcion does in fact reach $1 million!

I kept the 2 little lumps of crypto that felt somewhat safe and were small enough that wouldn't hurt if I lost them completely.  Although, I don't think crypto will ever really go away.  I'm just highly skeptical that it'll ever take over or even rival fiat currency in any way.  But, like I said, I have that FOMO bug :)

Pionex Gid Bot

My first bit of crypto is an ETH/BTC grid trading bot that is making about 5% APY.   I figured these 2 cryptocurrencies are still the main currencies, and that's not likely to change soon.  So as they fluctuate relative to each other, the gird bot earns profit on the trades within the grid range.   I use Pionex for this.

Bitcoin Faucet & Staking

My second bit of crypto is a small little bitcoin pile earning about 4% APY paid daily.  It's just sitting there and slowly growing.  In this pile I put any bitcoin that I come across either through games, faucets or cashback on my bitcoin-earning credit card.  I do this though FreeBitco.in 

FreeBitco.in

I've been with them for about 3 years now.  I just signed up with my bitcoin wallet address, and started using it as a faucet.  Once per hour you can click a button on the site and you win a random amount of bitcoin.  It's usually small, like in the order of 7 to 45 satoshi.  You can also win lottery tickets for a Lamborghini or reward points (RP).  I opted out of the lambo tickets, which gives me more reward points.  The reward points can be converted to satoshi on a 1-1 basis, but you can only do that once you reach 100,000 RP.  I'm half way there :)  Also, they send you an email every day with a link to click for a chance to win $200 in Bitcoin.  The most I've won is 5000 satoshi, and that has only happened twice.  Mostly, I win just a few satoshi like 7 - 45 satoshi.  It isn't much, but I just keep doing it every day just for the fun of it, and now as a matter of ritual.

BTC Staking

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I add to that pile for the 4% APY whenever I make any bitcoin from games  This is actually the only place I know of right now where you can stake BTC and earn anything meaningful.  The minimum staking amount is 0.0003 BTC.

 

Bitcoin Rewards in Games

I'm not really a gamer, but below are the only games I play when I'm bored or have time to kill.

Bitcoin Miner - Idle Tycoon

Bitcoin Miner - Idle Tycoon, my referral code is XI9IQB for a little bonus.  This is only available on Android devices unfortunately.

To get your bitcoin out, you have to use ZEBEDEE (ZBD).  You can also earn more BTC with other games and surveys in this app.  ZBD uses the bitcoin lightning network which requires a lightning wallet like WalletOfSatoshi.com.  Ahhh fun with crypto again :)

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I also play any of the games from Bling.  These games work on Android and Apple devices.  To get your bitcoin out you'll have to use a Coinbase account though.  They actually have 9 fun little games that all contribute to the same wallet you register with.

 

Bitcoin Cashback Credit Cards

I have 2 cashback credit cards. They both give me 1% cashback on anything I purchase, with no exceptions.  They are with Shakepay and Wealthsimple.  Unfortunately, these are only for Canadians.  You can get the details on each of them here.

 

That's it for me and crypto right now.

Let me know if you have any questions or comments.

Thanks,

Lyle

 

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lafredet
lafredet

I was moderately successful during the crypto bull cycle, but when things crashed I lost most of my profit. I was lucky to come out ahead, but it wasn't by much. After a nightmare getting my taxes done, I've since switched to traditional investing.


Passive Income Junkie
Passive Income Junkie

I changed my blog name from Dividend Junkie to Passive Income Junkie. That seems to be a little more accurate. I definitely love making a good tax free dividend every month, and that is my main investment strategy. But, I also love making "free", safe, consistent passive income on the side. I don't always succeed, but when I do, I usually invest that "free" money into crypto, specifically Bitcoin, in the hopes that it will take off one day, because, you just never know :-)

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