Hello everyone,
in this weeks Social Media Challenge I want to show you two effective methods of card flipping to further increase your earnings.
Method Number One
Using the bid system on Peakmonsters, for everyone who isn't familiar, is a third party site, where you can log in with your hive account buy, sell, rent and manage your collection (and much more).
This is what interface looks like when you click on a particular card.
This is what the bid window looks like when you click on "make bid".
I suggest you make yourself familiar with Peakmonsters, if you aren't yet, because it has all kinds of amazing features.
Now this one is important. 1. shows the current highest bid. So whenever this particular get's listed on the market for (in this case) $17.301 or less (!), it automatically will be bought by the person with this bid.
2. Is the current lowest listing price. So if you where to want to buy one of these cards and you'd check the market, this is the price you would see to buy it instantly
Now this is where we make our money.
Step 1 look for cards which have a nice difference between bid price and list price
Step 2 make a slightly higher bid than the previous highest
Step 3 wait and recheck frequently that you are the highest bidder
Step 4 once a bid get's filled and you bought the card, relist it for the lowest list price or slightly cheaper
Step 5 wait for it to sell and profit
There are a couple of tips to this I found
Buy cards that have a high trading volume, because otherwise you might sit on your purchase for a while. Chaos Legion cards are best for this, because there are being new once minted every day and people buy them up.
Be mindful with the DEC price. It's generally better to buy cards when DEC is up and sell when DEC is down, because u spent less and get more. This doesn't always work and we cant't predict the price of DEC, but just keep in mind that if you buy a card for a certain amount when DEC is at $0.003 and sell the card when DEC is at $0.0035 depending on your margin you might not have made any profit.
One last thing on this strategy is, that you need DEC in order to make bids on Peekmonsters, but as long as the SPS Airdrop is going on you don't actually lose anything by having some of your assets in DEC, sitting on bids, because your passively generating income through Airdrops.
This it what method number one looks like when it works
I made a profit of around 1360 DEC in 24 hours, without really doing anything.
Method Number Two
Using Splinteralert which is also a third party site that will automatically show you cards that are being listed for a relative percentage cheaper than the next cheapest card on the market.
It's pretty selfexplanatory. But here is how it goes.
Step 1 you put in the min change in price you are looking for (I usually go from somewhere from 5-10%) and your price range (the money you have for flipping)
Step 2 you wait for a deal to pop up and buy the card if you like the "deal"
Step 3 you relist the card for the lowest current list price or slightly cheaper
Step 4 you wait for it to sell and profit
There are also some tips I found here. You can turn on the alert which will give you an audio signal once a deal pops up (in case you are in another tab). Good deals usually get bought super fast, so you need to be quick. On the other side, take enough time to check the card you are buying. The first time I used this I saw a Shadowy Presence 10& cheaper and immediately bought it. I later realized that the card wasn't selling very much and now it's way cheaper than I bought it for and I'm sitting on it. So a general rule of advice for both methods and card flipping in general: If you buy cards that are actually good or that you can use in your deck you profit from it even when you can't resell it.
But in general I would say stick to Chaos Legion cards here as well, because they will resell pretty quickly.
And this is what it looks like when this method works.
Made a profit of around 500 DEC in about 2,5 hours.
To Sum It Up
Both methods are tried and tested and they work. Sometimes its only small profits, but the amount of work it requires is minimal. Be wary of the type of cards you buy. Expensive cards usually take a little to resell, because they have less trading volume, therefore offer bigger margins, though. Same goes for older cards in general. Also keep the fluctuating DEC price in mind.
Referrals
If you're not playing yet create an account over at Splinterlands and hop right into battle
Thanks to Carrie Allen for the amazing Markdown Tutorial
and to Chris Roberts for this Thumbnail Tutorial
Background Thumbnail image is from Pexels
Free image editing software used Canva
Also to Peakmonsters for their amazing platform and SplinterAlert for their deals
I hope this was helpful to you and wish ya*ll a wonderful day.
Pinkman 45
