Hello (future) Crypto Millionaire! I'm back with another post on this fascinating crypto landscape which is about learning rewards. With no further do, let's get into it.
So this morning I woke up and I was looking how the crypto space was today. Of course I went to CoinMarketCap and check the usual suppects:
Bitcoin, Ethereum, Cardano, XRP, etc. Checking if bitcoin was up or down just so I could adjust or modify (if I had to) my current plan and strategy.
Everything looked the same so I went to see if there was any difference on my Coinbase account. Yes. I have one account there. At the time I entered the crypto space, I had a quick look and check which is the least resistance platform and easy to access. And Coinbase was there. It was super duper easy to set everything up.
Also, when using a referral (like this one: https://bit.ly/iggy-coinbase), if you deposit $100USD as a new customer, they give you an extra $10 worth of Bitcoin. Kaa-chiiing!!!
Which is great, because if you are looking into starting into crypto, you don't want to go all-in with a big investment. You can start with just $100. And if you do that in a bear market, meaning when the prices are down, whenever the prices go back up those $10 can grow too!! So it's quite handy!
Another thing Coinbase does from time to time is running learn and earn campaigns to expose customer to other cryptocurrencies, make them learn about the utility of that specific chain and by just passing some super easy quizzes you could earn $3USD worth of that coin, which could hodl or trade it.
Ok sorry but I have to get the disclaimer out.
I am not a financial advisor. This content is purely for education and entertainment purposes. Please do you own research first and seek professional advice if you are planning to do any kind of investment.
Now that the disclaimer is out, we can continue.
So, with the recently earned $3USD you could do several things:
- HODL
- TRADE
Yes, you could hodl it, and wait for that sweet moment when the coin is performing well so then you can sell it and get some profits. However you could potentially trade it for any other currency, like bitcoin or even stablecoins (that are supposed to be pegged to the american dollar 1:1). If you trading for another crypto you could potentially consider that as a form of Dollar Cost Averaging (DCA). If you trading for a stablecoin, you could wait until you see a good low price on the crypto you like and you consider that it could go up. It really depends on your strategy
Now something that we need to keep in mind is that Coinbase actually adds some fees when doing trades, and we might want to consider spreads on the prices or even slippages. So if you do trades, bear in mind that from those $3 you could get back $2.95 just because of some fees.
So if you are getting into crypto through a small investment in Coinbase and if you are eligible to be part of this learn and earn campaigns then you will end up getting over time additional $3, which it could compound in the end. I know $3 doesn't sound like much, but if Coinbase runs 10 campaigns per year (I just made that number up), it could mean $30 worth of crypto for free and because the volatility of the crypto space it could be worth much more than that!!!
In the end, I guess it all depends on your strategy, but free crypto is always good. So... Thanks Coinbase!
And that's it!
Let me know what do you think in the comment section and I hope to see you on the next block.
Iggy out!
(PS: Photo by Monstera - https://www.pexels.com/photo/bag-of-dollars-against-blue-background-5849587/)
