May 6,2021
(I was inspired to write this article after @aminul posted his first cash out from readcash. I even posted mine on noisecash as well)
It was ten months ago when I joined readcash and I thought I'll be earning Bitcoin because all I know that time was Bitcoin. But my invitee (not active anymore) told me that it's Bitcoin Cash, not Bitcoin. During my first week, I was glad that I was earning a few cents every day, something which I did not get from other crypto platforms as they have minimum withdrawals. But on readcash, I can withdraw my earnings anytime, anywhere, and it didn't take me days to receive my BCH earnings.
However,
I Have Doubted read.cash
Since I was only a newbie and don't know yet about this crypto stuff, I didn't trust readcash yet. If you will notice on the photo below, from June 28 to July 1, I was withdrawing my earnings every day. I was quite practical those days, and I have negative thoughts about crypto platforms since the previous platform I have joined turned to become a scam. Especially the days when our wallets suddenly turned to $0.00, sometimes the funds were missing, and the points were freezing.
Many were concerned about the safety of our funds and they were also withdrawing their earnings from time to time. But the admin was still active in replying to the emails before and made sure that our funds will be retrieved from sudden bug attacks.
This reply from the admin gives me the courage to stay on the platform and trust read.cash, especially when I saw more and more users were joining every day, and points were increasing day by day.
I was only using coins.ph back then as I don't know yet about Bitcoin.com wallet until sir Telesfor introduced it to us. Here are my earnings from June 28 to July 26, 2020.
If I will compute this all, the total BCH I have earned in my first month was 0.04452425 BCH or $11.1234933775 based on July 26 BCH price at $249.83.
One BCH today is worth two tomorrow
After a few weeks of struggling with the bear, Bitcoin Cash has able to win the battle and get back to the $1k level. And again, after breaking a new ATH last April 17, BCH is soaring again and preparing for another leap to the moon and another new ATH.
Since day one, I've been holding my BCH earnings from read.cash. I never cash it out except for the ones I used to invest in other cryptocurrencies as a part of diversifying my crypto portfolio.
And if I will get the corresponding price of my first-month income which is 0.04452425 BCH, at the time when BCH reached $1477 (Binance price), the $11.1234933775 before is already $65.76231725 which is five times higher.
And that's the power of holding, your one BCH today, is worth two tomorrow.
Compare to Traditional Banking
If I have placed this $11+ income to my savings account it won't generate a single profit even if I will wait for more than 10 years because there is a minimum balance required which is Php 5,000 or $100.
In traditional bank, they only have less than 1% annual interest and has required daily balance to earn interest, plus a deduction for the withholding taxes and other charges. Just like for example BPI (Bank of the Philippines Island), my bank savings account, their interest rate per Annum is only 0.125% and needs at least Php 5,000 or $100 to start earning interest.
Be Your Own Bank With Bitcoin Cash
No Minimum Account Balance Required
You can start at any amount even if it's only a few dollars cents. That single 💚 you are receiving on noise.cash which is equivalent to $0.01 is good enough to start your own bank. There isn't daily nor annual interest here, because you will get profit in every BCH price pump. The longer you hold your BCH, the higher the returns
No Withholding Tax and Extra Charges
In holding Bitcoin Cash in any crypto wallet, there isn't withholding tax or extra charges unlike in traditional banks. Some banks are deducting up to 20% final withholding tax from the earned interest as required by the Bureau of Internal Revenue. So if you have Php 5,000 or $100 earned interest, then the bank will get 20% which Php 1,000 or $20 from it.
No Complicated Requirements
In traditional banking, you need a lot of requirements to create an account. Aside from that, the long hours of queue and processing are time-robbing. But in Bitcoin Cash, what you only need is your phone (with data) and you can create your own bank anytime, anywhere, within few minutes, hassle-free and time-saving.
No Burdens In Withdrawing and Transferring Funds
In a traditional bank, only those signatures appearing on the signature cards on the record will be honored by the Bank for withdrawals and transfer of funds. However, in Bitcoin Cash, you can withdraw your funds anytime, anywhere in just a matter of seconds with a transaction fee that is only a fraction of a single dollar. You can also transfer your funds from one wallet to another with no complicated processes. Just a BCH address is needed then you are good to go.
And to generate interest in a traditional bank, you will wait many years to feel it, and that is the reason why I have invested some of my real cash in Bitcoin Cash.
Converting My Real Money To Bitcoin Cash
For my long month of staying here on read.cash, I have proved that BCH is great for long-term investment and so I have converted some of my real money to Bitcoin Cash.
I have invested Php 19,900 ($398) and I bought 0.65 BCH at a $500+ price.
Another Php 14,900 ($298) were used to buy 0.35 BCH at $800+ price.
The Php 19,900 ($398) I have invested became Php 45,000 ($910) when BCH price reached $1,400. So I gained a profit of Php 25,600+ ($512).
The Php 14,900 ($298) I have invested became Php 24,500 ($490) when BCH price reached $1,400. So I gained a profit of Php 9,600 ($192).
The 1 BCH I have bought at a total price of $696 has been doubled due to the BCH price surge. See? My one BCH before is worth two BCH today.
The main reason why I used my own money is to compensate for the BCH I have lost in trading, and for some I have used in buying other cryptocurrencies. I don't really like my BCH holdings to decrease and I want them to increase as much as possible. I have lost 0.2+ BCH in trading and I used more than 1BCH in buying other cryptos. So this 1BCH I bought using my own money is not even enough to compensate for all BCH I have used in other stuff.
I trust BCH that's why I have invested my real money. And we can be our own bank with BCH and earned real profit that traditional banks can't offer!
How I Got My 7 BCH?
As I have mentioned above, I have been holding my BCH from read.cash since day one and never cash them out, except for the ones I used to diversify my crypto portfolio.
The recent Ampleforth Governance airdrop allowed me to achieve my 10k crypto goal for this year where I got more than $5,000 worth of FORTH.
Did I hold all the FORTH?
NOPE. I sold $4,000 worth of FORTH to buy 4+ BCH, little amount is converted back to FORTH so I still have the remaining 3.9+ BCH. I have never been a fan of Ampleforth and other ERC-tokens due to their killing gas fee. Although I'm holding some ETH but only an investment vehicle.
I chose BCH over FORTH because it has more potential and obviously, BCH has all the functions of digital cash, not just valuable crypto. No need da for a further explanation because we know which one is better.
In my article April Fools Month Recap, I have mentioned that I already have 7.8+ BCH in my crypto wallet and a big percentage of it came from the FORTH airdrop and 1BCH from my real money, and it is currently 7.9+ BCH. I just need more 2BCH to reach my 10BCH goal for this year.
I don't actually know how much the total BCH I have earned on readcash because the transaction history is not accurate. But if I will estimate my read.cash income since day one, including the BCH I've used in upvoting and sponsorship payments, it's probably more than 6BCH already.
If I will follow this data, then I should be a millionaire by now, but of course, it's not accurate. I guess it was March when I've reached 3BCH. But then I sold some to diversify my crypto portfolio and some were used in upvoting and sponsorship payments.
But aside from read.cash my other ways to accumulate Bitcoin Cash includes:
Swapping BCH-USDT or vice versa on my Bitcoin.com wallet
Spot trading in Binance
Leveraged trading in Stormgain and converting the profit to BCH
Nexo lending
Claiming coins and converting them to BCH on faucetcrypto
Converting other cryptos to BCH in my faucetpay wallet
And the additional source of BCH is, of course, noise.cash
I just can't rely on read.cash in accumulating more BCH because @TheRandomRewarder is really so random to me. I'm even thinking if there is a problem with my account because even if what effort I use in making quality articles, it is still not enough to let him maintain his presence on my spot like what he's been doing to other users.
Anyway, what matters the most is my Bitcoin Cash is growing and not stagnant.
It was only this year when I started monitoring my monthly earnings. In that way, I will be able to know my earnings from BCH-powered platforms read/noise.cash, trading, and other ways in accumulating BCH.
Idiom "One today is worth two tomorrow": Applying to crypto investing
Have you heard the idiom "one today is worth two tomorrow?" The idiom means if what you can do today, do it today. Today is definite and tomorrow is no guarantee that you'll still the opportunity to fulfill it.
I got my title from that idiom but referring it to BCH.
This idiom is also applicable in crypto investing. If you want to invest in Bitcoin Cash, do it today, because tomorrow, you don't know, it might be soaring high and it's already difficult for you to chase it. We have seen how BCH surged from $400+ last month to $1,400 today in just a matter of weeks.
BCH is still undervalued by many, but the upcoming upgrade in the BCH network and different projects will be the start of massive BCH adoption and will drive BCH price higher.
So if you want to go with us on the next leap to the moon, better reserve your seats now, and get ready for the skyrocket. There'll be no regrets here, because your one BCH today, is worth two, three, four, or more tomorrow. 😉
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Though I'm just getting started here, I have been active on Noise.cash for close to 4 months now, and I had my doubts too, in fact I doubted bitcoin.com wallet app. 🤣 because noise.cash suggested it to me ,I believed they are in agreement to someday take all what they've given me🤣, what I do is every night I transfer all my earnings to my Luno wallet. And congratulations ma'am many more BCH to come😉