How Do You Plan To Secure Your BCH Earnings?

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Avatar for JLoberiza
1 year ago

July 18, 2022

Monday. The good news is, that the BCH chart is still green. It's been going green in the past seven days or so. Is this the start of the bull run? Is the cryptocurrency winter finally over? I know that everybody is hoping and wishing to be so.

At the time of writing the BCH price is $117.92. That is at least $13 higher than seven days ago. That's almost a 13% rise in seven days.

However, if you take a look at the one-month chart, from June 30 to July 10, the price rose from $99.05 to $111.42. Two days after, the price took another dive to $98.78.

How do you plan to secure your BCH profit?

Greetings, once again my fellow Bitcoin Cash lovers. For those who invested in BCH since its inception, and during its third ATH all-time high) value sometime in May of 2021, this is a trying time. Many have lost a lot in their investment portfolio.

However, for those who are new, I think it's the perfect time to jump in.


Looking Back

I first invested in Bitcoin Cash sometime in December of 2020. The price then was about $200. I invested only about $10 then. I took the amount from my some profit from my BTC. After my initial investment, I was looking for a way to earn BCH. Then I found read-cash and noise-cash. The rest of my BCH was earned from these two platforms.

Thus I am grateful to Mr. Demesel for sponsoring this wonderful earning platform.

Missed Opportunity

In the middle of May, the BCH price hit more than $1,200. I just got out of the hospital and I was recovering from my illness at that time. I remember regretting not opening my computer that day. I needed the money to pay for the money we borrowed for my hospital bills. I was hoping it would bounce back up in a day or two. It did not.

Price chart of BCH from the beginning

If I remember it right, I sold half of my earnings at about $800 per BCH. I did not have much back then, I sold only about P4,000 or about $80. It could have been about P6,000 if I was able to sell it at $1,200. or even at $1,000.

Lessons Learned.

That was my first lesson in trading. Don't wait for a better market if you needed the money. Time and again though, let greed and fear take control of my decision.


Disclaimer.

Before I continue, I would like to emphasize that the content of this post is NOT financial advice. I am just sharing with you the lessons that I have learned from my experience and what I plan to do for educational purposes only.


My Financial Situation

Since the beginning of June, I have had no other income but from Read-cash and Noise-cash. I am looking for some other means of income online. But with the unstable Internet connection that we have, it's not easy.

In June, I tried to HOLD as much as I could. I slowly used my FIAT savings for my expenses. I was waiting for payment, from a long-delayed transaction but it seems I still have to wait for a little longer.

Now I have no choice but to sell my BCH. I have at least 2BCH in savings. That's a little more than $220 only at the current price.

Fear and Greed

In the last two weeks, I need to sell my BCH. But I don't want to do it at a very low price. Whenever I see the chart turn green, I keep hoping that it will continue to rise and not sell. But, at least on two occasions, when the price dropped drastically, I decided to sell a small portion before it drops further. Only to see the price bounce back after a day or two.

What I need is to formulate a strategy to secure my earnings gradually.

Write More and Sell Gradually!

This is my simple plan. I am not earning much these days. Since the start of this month, I have been earning only about 0.005 BCH. That is just about two dollars a day.

  1. Write more. The first step is to write more and be more active here. Hopefully, I will start earning more than two dollars a day again.

  2. The second step is to sell gradually and regularly. I plan to sell half of my earnings every 3-5 days. At least when the price drops, I will be securing a little more in terms of dollars.

    If it increases, that's ok.

  3. The third and optional step is, when the price dips too low, I will start buying some.

This way, whenever I needed some fiat, I already have some in my wallet.

In Closing.

I know I have mentioned this strategy before, but I lacked the discipline in putting it to work. Earlier today, I sold 0.05 BCH. So, in the next 3-5 days, I will sell some again.

Note: I am still sticking to my plan not to sell any of my earnings from noise-cash unless it's an extreme emergency.

How about you? How do you plan to secure your BCH profit?

Thanks for reading.


Image Credits:

Lead Image: By PIRO4D via Pixabay with modification

Charts: Screenshots from Coindesk


Date and time posted: July 18. 2020 8:05 PM

Check out my other sites and social media: https://linktr.ee/jlinitiatives

Or scan the QR Code below.

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1 year ago

Comments

Well, i could not understand the chart of BCH and Bitcoin. I have started writing articles but unable to understand how to do some earnings with it.

$ 0.00
User's avatar Asg
1 year ago

I am still a beginner in the Bitcoin Cash community and I still have to learn a lot. As of the moment, I am being rewarded and I am truly happy of every cents I received. I so appreciate this platform for being a source of a passive income. I just hope that in the future I could also accumulate more BCH earnings just like you Sir. Thank you so much for sharing your remarkable thoughts and for your thought-provoking title. My simple answer is to secure it on my wallet at the moment without touching it. It is my second day now and I am happy to meet awesome users across the world.

$ 0.02
1 year ago

Welcome to the community then. At least you started while the price is low and (hopefully) going up. If you have other sources of income then that's good. You don't need to touch your BCH unless necessary

$ 0.01
1 year ago

Thank you sir. Yes, I have a work at the moment but it is not really so easy to depend on one single source of income. So here I am trying my luck in blogging. I may not be a good writer but at least I am taking a simple step to continue. Once again, thank you for your significant replies Sir.

$ 0.00
1 year ago

I have just finished reading one of your articles... and you are good in writing... I think you have a passion for it.

$ 0.01
1 year ago

Thank you for appreciating my work Sir. I truly appreciate your compliments although I am not really as good as you. Your article is well-written and I could see you as a pro. Once again, thank you Sir.

$ 0.00
1 year ago

Thanks. I have Grammarly to thank for. hehehe. Without it, I fail to detect about 40 or more errors per article. I learn from those mistakes... slowly... LOL!

$ 0.01
1 year ago

It's pumping more today. The last time I checked, it's around $123.

$ 0.00
1 year ago

yup. It went slightly above 129 earlier, dropped to 125 now it's 126. :D. I hope this continues up to tomorrow. :D

$ 0.00
1 year ago

I came back to writing online last April and after several weeks the price of BCH started to plummet. I haven't withdrawn my BCH earnings and when the price went down further, I decided to buy some. I know that in the coming days I will be even busier with my job and I might not have time to check or write. So, I am planning to buy more and just keep the fund on my wallet.

$ 0.01
1 year ago

that's good. Kung me extra nga akong pera ngayon, sarap ngang bumili e

$ 0.00
1 year ago

It has been 6 months since I found read.cash and noise.cash. it was my first interaction with the BCH and I was spending on my expenses from the earning. But now I am stick to accumulate 1BCH and hold it for my feature. I wish you more BCH in your wallet.

$ 0.00
1 year ago

you can try trading sir... so you can increase your bch or stake it

$ 0.01
1 year ago

I want to try staking....I'm looking for a good platform where I can stake BCH.

Thanks

$ 0.00
1 year ago

The same thing happened to me, but with BTC, you don't know how frustrated I feel now, because I need that money. But I'm going to try to hold on and see how I solve my life before I ...

$ 0.00
1 year ago

I have noticed it too, the price of BCH went high. 2-3 days pala maganda time interval sa price and trading. Sana ay makasell ka sa mas magandang presyo. Nung 300$ hindi ko nasell agad haha, iipunin ko lang pero some of it I already released too. To more counts of BCH. Cheers!

$ 0.02
1 year ago

I didn't tried to hold BCH for a long time, everytime I saw the price is dropping I seel it right away, heheh I'm too weak. The good thing is, slowly, we still able to earn from here. Thanks to the generous man Mr Demesel.

$ 0.02
1 year ago

Nag convert narin ako for the first time,gusto ko pa sana e hold kaso kailangan ehh maliit lang naman pero malaking tulong narin.

$ 0.00
1 year ago