Finding a way to keep my BCH stash up in this bear market period

Nothing is too big, and nothing is too small. A few dollars in BCH won today can make a difference in the long run. The bear market has brought a lot of downturn to everyone in the BCH community and mostly for writers and authors on read.cash site with earnings been significantly impacted since the start of the bear market. BCH value keeps falling and may make it harder to maintain strong monthly income from read.cash. I think a good way to keep the income in BCH going is to look for other BCH income-generating opportunities that will enable me to produce my income in other ways than by contributing articles and engaging on read.cash.

I am not a trader and do not have an interest in trying it no matter how attractive the returns are. I am a long-term holder who has invested some of my BCH in a few projects on smartBCH which makes me a lot more comfortable. However, seeing the effects of the bear market on BCH, I need to stretch my tentacles to other avenues of getting a quick return on investment even if they are small. My choice is to be actively involved in the NFT business in the smartBCH community which gives me an immediate appreciation for my BCH.

My aim is not to make a ton of BCH from the NFTs that I have to invest in, but if I get lucky and mint a special or a super rare piece of NFT, then it can enhance the value of my BCH holdings in that instant I made a sale. I considered NFT investment as the safer and quicker option available for me right now, and have decided to be participating in any good NFT project on smartBCH from now on. Previously, I was only looking at NFT participation as a thing that needs a high chance of luck to make money from it, but now, I have found that someone can make a profit from an NFT as quickly as possible when the product is of higher quality.

Punkapes NFT collection was my first to experiment with the buying and reselling of NFTs as quickly as possible for a profit. Other random NFTs I have bought in the past were to earn a passive income by staking them, I have not been selling NFTs until recently due to the bear market effects on BCH. I have discovered that NFT projects that sold out quickly have a higher secondary market demand as soon as the mint is completed, and most people who missed participating in the mint will rush to the secondary market to get as many as they can while the price is still just a little above the mint price.

I participated fully in Punkapes minting, putting in over 0.5 BCH for 50 pieces of the collection because I saw the quality of the NFTs and the type of investors that were also invested in the project. I was lucky to get a few rare among the 50 Punkapes I minted. I listed 10 common ones immediately as soon as the mint was completed at a lower price of 0.05 which is still quite affordable, and they were bought in no time. I sold those 10 to recover my investment and still have 40 higher ranked Punkapes cooling in my wallet as my profit potential.

I was not expecting that my profits from the minting will increase by 35% as quickly as that, but the NFTs have appreciated since then and could continue to climb in price. However, I am willing to let them cool and resell them for a higher profit when the price goes up. There are more Punkapes NFTs for sale on oasis.com at the moment and the sales for the collection have been very encouraging. I believe when the use cases of this project roll out the market value will increase dramatically.

Conclusion

With quality NFT projects on smartBCH one can potentially increase his stack of BCH in this bear market period. The time will come when BCH will once again become a reliable and stable value, and then those people who invested in these projects will already have more NFTs in their inventory as profit potential that can be sold at a higher value when the market value of BCH goes back up.

I will continue to participate in any quality NFT project I discover from now on and keep adding a few SATs to my BCH stash because the exchange value of BCH will eventually go back up again. Just don't ask me what is going to happen next to this bear market.

And as always, take care of yourself and be proud to be a member of the BCH community.

Cheers