We all have stories to share about our Bitcoin Cash journey and in this article, I will share mine. By the way, this is NOT advice, but just to give anyone an idea of how I grow my BCH since the day I vowed to HODL my earnings from both platforms.
Take note: My strategy might be different from yours, but it really works for me. But of course, I'm open to new ideas, so let me know if you have some below.
So back in the early days, I only knew one thing, and that was to BUY LOW, SELL HIGH. So when I decided to HODL my earnings, I thought that was easy until the price went up. That was the moment I felt like I was lost and had no idea what to do next.
As they always say, DYOR (Do Your Own Research), so I did. Not through Google or YouTube but from real experts. I went from asking one person to another about their strategies and compared each.
Based on my DYOR, some HODL in a way that they just let their BCH stays in their wallet without doing anything at all. Others, however, would monitor the price and once they started earning profits, they would take it. Not by withdrawing the amount but by swapping their BCH to USDT.
Initially, I chose the first one: not doing anything with my BCH. I would just watch the price and be happy when it was at its peak. My mindset before was, if I sold my BCH at this price, what makes me so sure that the price would dump so I could buy again? What if the dip won't get deeper, how am I supposed to buy at a low price? What if the uptrend continues and already sold everything? So those questions made me stick to this option for a few days.
Then a lot of my friends started posting about their gains. About how happy they were, seeing BCH soaring high, and that was the time I began to question my strategy. I felt like I was doing it wrong.
So, for the second time around, I started asking several people again about their strategies. This time, I wasn't only asking my friends but also some random foreign men, who seem to be experts on this stuff.
Of course, deciding which one to apply to was never easy. For me, it was confusing. It took me hours to analyze it, but luckily, I have friends who never get tired of helping me just to make me understand this thing.
So after a few hours of analyzing everything, I finally made up my mind and this time, I chose the second option. So this time, every time I gained $1 or more, I would swap it instantly to USDT. That means that if the uptrend continues, I can still have gained from that. If it dumps, at least, I have USDT to use for buying more BCH at a low price.
It's a good thing I also monitored everything that enters my Bitcoin.com wallet. What I mean is, whenever I earned from writing articles and decided to put those earnings to my main HODL wallet, I would input them right away on my spreadsheet. The same goes for my noise wallet.
So when the price goes up, I know when to take my profits. Sometimes, bitcoin.com won't allow you to swap to USDT, which is why I am so grateful I have a Binance account. In times like this, I would send my profit to Binance and use that to do Spot Trading.
If you are not familiar with Spot Trading, be sure to read these articles from my friends to also help you understand everything:
So taking my profit and adding them to my capital is my simple strategy to grow by BCH. Thanks to my friends, they also helped me understand Spot Trading, and now, I'm also earning a little bit from it.
Honestly, I am so behind from my fellow club members when it comes to growing up your BCH, but I will try to catch up. Last night, I watched a tutorial about how to do Pancakeswap and will try it once BNB will dump a little bit.
Wait, should I wait or can I do it now at its current price? Please, let me know.
Anyway, I know I am so late in this stuff but as I've always said, it's better late than never. So yeah, I will make sure to do it the soonest.
Closing thoughts
My BCH Journey has always been a roller coaster ride, but this is what makes my journey challenging. I may also have had some bad decisions before but that didn't stop me from exploring other options and trying new stuff to improve my knowledge about crypto, in general.
With my Club1BCH fam, I also know that everything will be manageable because I can always have their back when I needed someone to rely on.
This post is comprehensive, relevant, and fresh to those newbies like me in cryptocurrency trading, HODL, or basically growing BCH earned from this platform.