read.cash is a platform where you could earn money (total earned by users so far: $ 826,787.13).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
When markets move lower than expected, and for longer than expected, many find themselves in a challenging position. Simply buying Crypto assets as a speculator is not something that is going to be paying off anytime soon. Forget about 20% rallies, these moves are trades and not investment opportunities. I have addressed this a few times over the course of this bear market. If you are a skilled and knowledgeable trader, then you can take advantage of these pumps. However, for many, it is not really a viable opportunity. Those seeking to secure Crypto gains or earnings in an environment such as this are faced with a fresh challenge. Seeking out altcoin gems is something that is only likely to pay off in the years to come. Furthermore, it could even be somewhat premature. If BTC experiences a significant drop below the previous low, which I believe is extremely likely, you can imagine the decimation that awaits altcoins.
What About DeFi?
When it comes to DeFi opportunities, it becomes extremely uncomfortable to offload your rewards. With the prices of DeFi tokens being so beaten down, it makes a lot more sense to simply compound your rewards. You also have to consider the viability of selling. At this stage of the game, the financial reward is marginal and not very meaningful. More sellers will also just place more pressure on an already fragile market. This will ultimately just devalue your staked allocation. In my opinion, there isn’t much to be found in the DeFi space at the moment. It’s simply a time of compounding and picking up significant discounts. However you choose to look at it, typical strategies are not that viable in a bear market.
Hindsight Confirming The Obvious
This is why this channel has been dedicated to the promotion of building passive income streams, and I think the reasons are now pretty obvious. Firstly, the income flows in both bull and bear markets. It can be utilized to increase exposure at discounted prices, or as disposable cash. In a time when it becomes extremely difficult to secure gains, it’s a constant revenue stream that will produce with every passing day and even hour. Obviously, building and developing these mechanisms at this stage of the game is somewhat of a challenge. However, it’s definitely a great idea to begin building with the future in mind. Passive income is the pinnacle of earning in my view, regardless of the size. It can aid tremendously in creating the “compound effect”, which is a game changer when building wealth.
This is also a season when exchanging your time and talents for Crypto is for many a must. Making use of the plethora of Crypto platforms online can also help generate additional Crypto income. I have also been quite vocal in regard to projects like Hive, which has so many different, and even unique opportunities available to those willing to put in a little effort and “stay with it”. It’s always important to remember that this is generally a time of accumulation and preparation for “tomorrow”. If you are not trading, then you need to be active in ideas such as these, in order to remain relevant in terms of earning and staying alive. Many don’t make the decision to exit Crypto, they simply become lethargic during bearish phases and before they know it, it’s no longer part of their daily lives.
Bear markets challenge everyone, even those of us who have endured the cold before. Yes, surviving a bear market will give you an advantage over newcomers, but it’s still a challenging time. An important point to bear in mind is that all previous Crypto bear markets were during times of stability. This bear market truly is unique in terms of the macroeconomic landscape. Things are likely to become even more challenging, which is why it may be a time for many to reevaluate. This is obviously not investment advice, but I do challenge readers to consider the future with caution.
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.