Can't Think Of Anything To Write? Explore The Crypto Space!

November 29, 2020

"We shouldn't rely on read.cash forever, we must level up to know how to earn more crypto."

One of my virtual friends (@Valryan14) here in read.cash said that which is so true. I admit that in my five months of staying here in read.cash, I just relied on it in earning more Bitcoin Cash. And in my six months in the crypto space, I just started to do trading two months ago and still don't know how to build a good portfolio. But I know I am not too late yet, and you too.

At the time of writing, there are 40,996 users read.cash has, with daily spending of $500 ONLY. No wonder why the tips from the bot are getting lower and lower regardless of how good your article is. Some just relied on it especially those who don't have stable jobs and those who don't have jobs at all. Some are earning crypto but don't know how to make it grow, just like me before - a NOOB - even until now 😅.

But thanks to my group of virtual friends, I am learning new ideas that I can apply in making my portfolio grow. And as the saying says "Practice makes Perfect." Although it is hard to achieve perfectness/stableness in the crypto space as it is so VOLATILE. However, through continuous learning, you will be able to know the techniques and strategies on how to build a good portfolio, and someday, you won't consider yourself as a NOOB anymore.

In this article, I won't be talking about the techniques or strategies in trading or so since I am not an expert on it, and I am also a NOOB like you. But rather, I will give some ideas on how to level up your knowledge about crypto that might be able to help you know how to gain profit from your crypto investment. And during the times that you can not think of anything to write, this is the best thing to do.

• READ CRYPTO-RELATED ARTICLES

There are a plethora of crypto websites where you can get easy access to any crypto-related articles. Read.cash itself is allowing you to learn more about crypto while earning Bitcoin Cash. And to know the latest crypto news, you can just visit any crypto news website.

Some crypto websites where you can learn more about crypto and get its latest news are as follows:

Coindesk - is one of the leading names among crypto media websites. Coindesk has been doing a great job filling the readers with authentic news on the whole crypto industry.

Cointelegraph - it is one of the leading crypto websites that cover everything about cryptocurrencies. You can also learn the latest happenings in the crypto market in Cointelegraph. And what is great here is, it is available in different languages such as English, Japanese, Spanish, and more.

CNN - It provides not only the latest news about major cryptocurrencies but also valuable insights about blockchain and other information regarding ICO, market cap, Calendar, and DLT events, etc. On CNN you can also enhance your knowledge about the crypto industry on its blog section.

TodayOnChain - it is a famous news site that covers all details about blockchain and cryptocurrencies. It is more like a news aggregator that forwards the trending crypto news and anything regarding the blockchain industry.

News BTC - it covers technical analysis, reviews, and other important details of the crypto and blockchain market. It also provides a wide range of educational materials, ICO listings, and Calendar events as well.

These crypto websites are intended for users who want to know all blockchain and crypto-related news and keeps the readers updated about the latest events in the crypto industry. Whether it is to find the rise and fall in the Crypto Price Index or the new cryptocurrency making a name in the industry, these websites will cover everything for you.  

There are also crypto exchanges platforms like Binance, Coinbase, Stormgain, etc, where you can learn anything about cryptocurrencies, trading, and blockchain.

• WATCH CRYPTO-RELATED EDUCATIONAL VIDEOS

If there are crypto blogging platforms, there are also vlogging platforms where you can watch videos about crypto trading, staking, and related news regarding blockchain and the crypto market. Youtube for example is a famous vlogging platform where you can watch a different kind of crypto-related videos.

But due to its censorship of crypto vlogs, many migrated to crypto platforms where they are free to post any videos regarding their daily crypto vlogs. Lbry, D.Tube, Dlive, THETA, and more are examples of crypto vlogging platforms where you can watch videos about strategies and techniques in crypto trading, blockchain, as well as the latest market stats and news.

• STUDY AND PRACTICE CRYPTO TRADING

Newbies in crypto trading usually do swapping or converting crypto to stablecoin when the price is high, and stablecoin to crypto when the price is low. It's the easiest way of trading for them. If you are comfortable with it, you can stick to it. However, if you want to level up your skills, you can practice doing other styles of trading where you can earn more profit.

Before you learn the different styles of trading, you should know first the two main types of trading: short-term and long-term trading.

• Short-term Trading - is about instant gains. In here, you can easily buy and sell crypto many times within a day and earn profit from it. However, this requires time and skills for analysis. If you want to do short-term trading, you should monitor the market movements within the shortest period.

• Long-term Trading - is for long-run gains. For those who are anti-FOMO, long-term trading is best for you. This is the type of buying the crypto at the cheapest values, then wait for the time when the crypto is at its peak.

Trading refers to buying and selling crypto. It requires skills, time, and most especially PATIENCE. There are different styles of trading and that includes:

• Scalping
  This is a beginner's strategy. It is about making very quick trades and constant profits (even if it's a small percentage of profits). Traders make a trade every few minutes.
  
  Spot buying and selling is a type of scalping. For example, you buy BCH at $250, then sell it at $255, which gives you a $5 profit. Buy again at $252, then sell at $255, so another $3 profit, which makes it $8 total of profit in just two trades. Although it is just a small gain, if you do it repeatedly, small profits can add up over time.
  
  This requires time, skills, and constant focus. And to succeed in scalping, you need depth understanding of the market and your idle crypto, as well as its technical analysis.

• Day Trading
  This is similar to scalping, but instead of entering and exiting every few minutes, the traders enter and exit within 24 hours. This is a very active strategy and can be highly profitable, but takes a serious amount of risk. This type of trading is suited for experienced traders.

• Swing Trading
  This is more like a beginner-friendly strategy and it allows traders to take their time. Swing trading requires technical-analysis and fundamental-analysis.

• Position Trading
  Position trading also called 'trend' is long-term trading. Traders buy assets and hold them for an extended period. Their goal is to make a profit by selling the asset when it is at its peak. Traders are concerned with trends and usually predict the 'swings' in the market that do not correlate with the broader trend.

There are crypto exchange platforms where you can practice trading for free. For example in Stormgain where you can do crypto margin trading and investing. At the same time, you can also practice trading by creating a demo account. You can also do cloud mining and earn free BTC that you can use for trading in case you don't want to invest money there.

Once you learned the strategy in trading, you can start by trading at a low amount of crypto, then gradually increase your investment when you think you are good enough to trade more. Just always remember to invest what you can afford to lose.

• CRYPTO STAKING

For those who don't want to do trading because they are afraid to be FOMO or don't want to get lost profit, but want to earn passive income, Staking is the best option for you.

Staking is an alternative to mining. It involves holding your asset on a certain platform to receive rewards. In staking, you can earn up to 12% compounding interest on your idle crypto. After 24 hours from the time of deposit, you will start earning compounding interest and it all paid daily.

So simple right? Just hold your crypto on a staking platform, then earn daily interest. The interest is calculated depending on the type of crypto you are holding and the total crypto you have in your wallet. For example on Nexo where I am staking, they calculated the interest using this formula:
Daily Interest = Principal amount (in original cryptocurrency) x (APY/365)

To know more about Staking, there are several staking platforms that you can visit, such as, Nexo, Blockfi, even exchanges like Coinbase and Binance.

So instead of wasting your money and time, falling into a Youtube blackhole, Netflix, TikTok, Facebook, and more, but not gaining anything. Why don't you try these? If you really want to level up and make your crypto portfolio grow, explore the crypto space!

You can also read my article about Want To Invest In Crypto? do These First if you want to learn the things to consider before investing in cryptocurrency.

I hope you learn something from this article.

Thanks for reading @Jane