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Bitcoin Cash - What to do with BCH in Dip

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Avatar for esmeesmith
Written by   100
1 year ago

I am loving the dip. Not because the price is down. But because I am able to accumulate more of BCH as I am transferring my other assets into BCH. Which is hard to do if the market is going good or at the top.

Two things happen when the dip comes in the market.

There are people who panic and sell their assets and run away from the coin. And then there are people who buy and add more units of the coin into their assets. I belong in the camp which buys more units of BCH during the dip.

So how do you manage in the dip with your BCH?

Image Credit: Bitcoin.com

Here's what I'd do in the dip.

Converting TRON to BCH

My favorite coin is TRON, It's not a high price coin but it is like small drop of water in the bucket. It continues to earn me per upvote on steem. I make sure to convert all the TRON each month into the BCH. I do this every month.

If you are writing on platform like steem. You should definitely convert your low cost coins into BCH so that when the market performs, you have enough BCH to sell or make profit out of long term.

Converting HIVE and HBD to BCH

I also write on HIVE platform and manage to earn both HIVE coin and HBD stablecoin out of the content writing alone. I also upvote in order to earn more HIVE power. This approach helps me stay strong over there. I am just small fry in there and not much powerful in vote and earning either. But I make do of what I can out of that.

If you are posting over there. Make sure to powerup and also keep on 50/50 to earn the Hive stablecoin and HIVE out of each of your content posted there. Make sure to make new friends there on regular basis.

Convert Low Cost Coins to BCH

This is the time you should be being more proactive and converting your low cost coins into BCH so that you can have enough coins now and don't have to buy the BCH at the expensive price. Buying BTC wont be the right choice as you would be paying more for fees with the BTC and ETH.

So the BCH presents a good opportunity for you to have some asset which you can hold during the bad days and also have the assets which can be converted to big guns when you actually need them.

Conclusion

Times are going to be slow before they can get better. You would need a lot of funding and new investors who can dump the money into the crypto world. But as of now the signs are that crypto is mostly manipulated by china and elon musk. So make sure to hold more BTC, BCH and ETH while you can.

How have you been holding up the BCH? What's your experience with the BCH earning?

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Written by   100
1 year ago
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Comments

I see everything in terms of satoshis or cents so the more you have the better and the best time to get more is when the market goes down not when it goes up, but I guess many are able to predict the market very well, sell when it is low and buy when it is high.

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11 months ago