CCFCN: In My Book, 2021 is the Year of the Altcoins

So it's the 11th month of the year 2021 and I am looking forward to 2022. I am always excited about a new year. But I like to look back to see where I am and how I got there.

I joined two sites in 2021 – Read.Cash and Noise.Cash. But I give credit to the year 2020 because that's when both of these sites got started. You earn Bitcoin Cash for writing full articles or short posts. These are both lively communities where you can learn and earn and make friends. I'm lovin' it!

The thing is that I had been doing research on altcoins. Altcoins are those other crypto coins that came after Bitcoin. In 2020, I drew up a list of alt coins that I was going to follow and probably trade, based on the advice of the “experts”. This was the list.

(1) Ethereum

(2) Chainlink

(3) Uniswap

(4) CRO

(5) Polkadot

(6) Cardano

Did I keep up with that list? NO! Why? Because I was introduced to Bitcoin Cash through the Read.Cash and Noise.Cash platforms and that took me in a completely different direction.

Now, I'm not saying that the recommendations from the experts are no good. I'm just saying that I found an altcoin that works for me!

Also, I went back to another altcoin that I had started with from the very beginning when I took an interest in cryptocurrency and blockchain technology: Litecoin. When I first started earning LTC, I was using a faucet. My memory is foggy but I think I stopped because weird things started happening with my laptop, so I stopped using the faucet. After that, I forgot about LTC until … I created a BlockFi crypto interest account. I established this account in 2021, but I had started looking for a platform to trade cryptocurrency back in 2020.

I was looking into Binance and Coinbase, but I came across an advertisement for BlockFi. I decided to GO FOR IT! When I created my account I had to go through a security verification to prove my identity. I did not mind that at all. In fact it made me feel comfortable that they were taking customer security very seriously. Once I got my account started, a friend told me to deposit the cryptocurrency I earned from the various faucets (like Cointiply, Bucksify, FaucetCrypto, Coinpot.in, Freebitco.in, etc.) into my BIA (BlockFi Interest Account) and start earning interest.

At first I was only depositing Bitcoin. But then I noticed that I could also earn interest on Litecoin. The light bulb went off in my brain. I'm like: 'Oh yeah! I remember Litecoin!' I figured if BlockFi had put Litecoin in their list of cryptocurrencies that I could earn interest on, then that's an indicator that I probably should not ignore that particular altcoin.

Currently, I exchange my Bitcoin Cash with friends who help me convert it into US dollars. They want BCH. I need cash! This arrangement is working for all of us. I have some debt that needs to be paid off and my BCH earnings have really been a blessing. Once the debt is paid, I will start saving my BCH.

Slowly but surely I am building my cryptocurrency investment portfolio in BlockFi and the interest earned on my crypto sure beats having fiat currency in a savings account at a bank. Banks only pay like 1%, whereas you can earn anywhere from 4% to double-digit interest rates on your cryptocurrency, depending on where you have your account.

IMPORTANT NOTE: I am not a financial advisor nor do I possess overwhelming knowledge about what goes in the financial world. If I were to give advice when it comes to investing, I'd say:

• DYOR (Do Your Own Research) and

• DWWFY (Do What Works For You).

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Links of Interest:

Bitcoin Cash (BCH): The Most Important Things You Need To Know About It

Why Litecoin Will Keep Doing Well in 2022 and Beyond

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NOTE:  This is my original content posted elsewhere on the web.

Thanks for reading.

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Where I Share My Notes About Crypto (and Personal Finance)