read.cash is a blogging platform similar to Publish0x where community members there earn Bitcoin Cash (BCH) exclusively. After reading SkinnerCrypto's experience with read.cash a few months ago, I considered trying to create content over there. But reality set in quickly, and I decided against that idea, especially since I was still struggling to gain an audience here.
However, several things have changed since that time:
- I learned some valuable lessons while creating content on Publish0x
- I managed to publish a few popular articles on Publish0x
- I found Scott Cunningham's August Crypto Earnings post.
With my newfound confidence, I now felt ready to try posting on read.cash, and created an account using SkinnerCrypto's referral link. After 7 days on that platform, I'm happy to share what I have learned with you.
Why Scott Cunningham is "da MAN"
The graphic below shows the real reason why I decided to try to create content for read.cash.
Graphic 1: Screen cap from Scott Cunningham's August Crypto Earnings article. Graphic by Publish0x, modified by the author
Scott has successfully monetized his content at read.cash. He started posting there around February this year, and as of writing time, he has managed to cultivate a base of 1,134 subscribers for his content on that platform.
The goal that I set for myself
I already have a very busy day job and with what little free time I have left, I'm also creating content here on Publish0x (it feels like a 2nd job at times honestly). What would be a realistic goal for me if I were to create content for read.cash?
My gut initially told me that I should be able to earn 10% of what Scott manages to earn. However, my brain quickly squashed that thought, and I settled on a goal of earning 0.015 BCH for my first month, given my lack of resources at the moment (this works out to 5% of what Scott earned).
Quick overview of how read.cash works
Your Bitcoin Cash wallet
When you register to create an account at read.cash, a BCH wallet is created for you, into which you will be paid your earnings on a daily basis. Unlike Publish0x, you have unlimited BCH wallet transactions for free.
Although it seems as if you can use it as your personal hot wallet, there is a disclaimer that shows up if you try to deposit BCH into it.
Graphic 2: Disclaimer from read.cash that your BCH wallet may be unstable. Graphic from read.cash
There are 4 ways to earn BCH
1. Points system
read.cash uses a points system to reward authors. Points are earned when your content receives views and like votes. The more points you earn, the more BCH you will receive at the end of the day.
The platform also has what are known as "Random Rewarders". These unidentified individuals roam the community, and their like votes are worth significantly more points than like votes from the average user. This applies to likes for both articles, and for comments. How the system determines who is a Random Rewarder is not known, and the devs make a point of keeping this information confidential to prevent the system from being abused.
It's worth noting that the points system also rewards users by simply leaving comments that are engaging (at least 60 characters). However, from my limited experience, new users earn little to no rewards for leaving comments. The system is designed to encourage users to earn more by creating good content and collecting views/likes.
How much are points worth? One user announced they earned roughly 1,100 points over 24 hours, which worked out to a daily payout of roughly $2.6925 BCH.
Edited on Sept 25, 2020: A new earning system for read.cash has been implemented starting today. The points system is now gone. More info clicking here.
Users can tip authors if they choose, but it's not required. Remember an author will earn points when you simply view (and like if applicable) their post.
If you do decide to tip an author on read.cash, it will come straight out of your own BCH wallet (unlike here on Publish0x where tips are free).
Someone may choose to pay you a monthly fee (starting as low as $0.01 BCH) to act as a sponsor each month. In return, you agree to open a sponsorship block on your posts, and their avatar will show up like a small billboard the size of your thumbnail. By clicking on one of your sponsors, you will get redirected to a webpage of the sponsor's choosing.
Alternatively, you may offer to sponsor an author, and they will display a small billboard that links to the content of your choice.
Graphic 4: My sponsors on read.cash. Graphic from read.cash
If someone signs up for read.cash using your referral link, they become one of your affiliates. You will get 3% of any spending or earnings by your affiliates, and it doesn't affect any earnings for those who sign up.
You also get 10% of any points given to your affiliates by the Random Rewarder.
7 things you should know before you decide to try read.cash
1. When you register for your read.cash account, use the device on which you will create your content
Users have reported that accessing their read.cash account with different devices/browsers have led to them getting locked out, necessitating a reset. For that reason alone, I would not recommend registering with your phone.
2. Do not directly ask another user to subscribe to you
This behavior can be considered spamming on read.cash, which can lead to your account getting banned if your behavior is reported.
3. You have the option of publishing a "short post" or a "full article"
A short post is often used as a "status update", and the text editor is not available for formatting that content. Also be aware that the number of views are not recorded for short posts (don't ask me why since I don't know).
A full article is exactly what it sounds like.
4. Posting your content to communities is a strategy to get more views for your content
After publishing your articles, they can also get posted to a themed community that will hopefully get you more views (spoiler alert: it won't help much in the beginning, trust me). Be aware that your articles can only be posted to one community at a time.
You can also move your article from one themed community to another to put it in front of a different audience. But in order to do so, you will need to remove it from the community where you posted it to first. Keep in mind that once you remove an article from a community, you will not be able to post it back to the same community from which it was removed.
In theory, if you have enough subscribers, you don't need to post your content into communities. Alternatively, you can tag individual users with your content (see #5 below) if it is not posted into a community.
5. You can tag other users
By adding "@" in front of another user's username on any article that you write, or comment that you leave (similar to Twitter), a notification will show up as a "mention", and intuitively, they should look at your post. (I found out tagging works the same way here on Publish0x too).
6. If your content is not considered "Exclusive" to read.cash, you may not earn anything from publishing it there
The platform encourages authors to write exclusive content, as opposed to copying and pasting from other sites. They rely on some sort of algorithm to make that determination. I found that I needed to adjust my content from Publish0x slightly anyways to convey my message to my new audience. Look for the EXC stamp prior to publishing.
Graphic 5: Exclusive content stamp. Graphic from read.cash, modified by the author
Edit on September 21, 2020: I published a similar article to this one on read.cash yesterday, but it was unpublished by the platform because the algorithm determined that it was copied for another online source. Yes, I wrote both articles...will have to find a workaround. Just to be safe, I suggest you don't include your Publish0x profile on your read.cash profile. How else would they have found my article so quickly!
7. Gaining subscribers is critical if you want to monetize your content
Don't get discouraged if your first few posts only attract a handful of views. Keep in mind that any cred that you built up here in Publish0x is worth absolutely zero in read.cash.
My initial thoughts about read.cash
- There are many Communities to choose from when you post your published content. Unlike Publish0x, many non-crypto writers have the potential to successfully monetize their content.
- The read.cash BCH wallet offers unlimited transactions for free
- Earning potential appears quite high if you can put in the time and effort required to gain enough subscribers.
- When creating content on read.cash, the text editor has limited options.
- The prevailing culture in that platform appears completely different from Western culture, and I had no idea where to start at first.
- Unlike Publish0x, you will not receive any promotional assistance from read.cash to promote your content.
Was it worth it for me?
Due to my busy work schedule, I have not had time to post new material on Publish0x for over a week. Admittedly, I didn't have much time to focus on read.cash either, and I also spent too many hours fumbling around that platform.
I tweeted my progress, and I would encourage you to look at my daily updates if you want more information.
Based on my 7 days on read.cash, I have earned 0.00335 BCH. That projects to 0.015075 BCH over the course of one month. I'm glad to report that I'm on track to meet the goal that I set (5% of Scott Cunningham's earnings on read.cash), but it is definitely taken a toll on me to get to where I am. I would say that the amount of effort required to earn my BCH was not worth it considering the meager amount. However, it was definitely worth it in the end because it helped me to establish my cred on read.cash.
It's also notable that if I could earn about $3-$4 worth of BCH on read.cash per month, it would actually exceed my current average monthly earnings on Publish0x. The question is whether I can sustain the amount of effort regularly.
Could it be worth it for you?
There is potential for Publish0x authors to monetize their content on read.cash. Just be prepared to put in the necessary work, and to be patient with the process. If you would like to try publishing your content on read.cash, please consider registering with my referral link by clicking here, or in the links below. 🙂
Thanks for reading, and stay safe! If you would like to support my work, please hit like 👍 and follow me on Publish0x! 😊
You can also follow me on Twitter: @CryptoWordsmith
Last edited on September 25, 2020
Cover photo (cropped) by read.cash
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