read.cash is a platform where you could earn money (total earned by users so far: $ 844,567.65).
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.
They say money doesn’t bring happiness, but is this really true? I get it. There are people who have lots of money and still aren’t happy. There are many layers of happiness I guess and money on its own will not make you magically happy.
What if the lack of money stops you from sleeping and eating, because you are so worried that you won’t be able to pay your bills? In that case an extra 1000BCH sure can make a huge difference and indeed make lot of people happy. I’d definitely be one of those jumping and doing a happy dance if one day I woke up to this amount in my wallet.
Boring, I know, but debts are one of those pesky and very unnecessary ‘bills’ that we have to pay every month and without that extra going out, we could live quite comfortably.
Mortgage is sure one of the biggest debts most people have in this day and age. Technically we don’t even look at it as debt, it’s more like a bill to pay that we got used to. If I wanted to pay that off in one go, that would already be half of 1000BCH gone. Would I do it? Most likely not. Looking at the price of BCH right now ($275) it would be a very poor decision indeed.
Although 1000BCH sounds like a huge number, it translates to around £220 000 at the current price. I have seen BCH at 6 times the current price. Cashing out a huge amount of Bitcoin Cash at $275 would really be heartbreaking.
I would probably convert around 50BCH to FIAT to pay off the credit cards and keep some handy for the months to come.
That’s it. Hodling the remaining 950 BCH is the only reasonable option I can see. In the year I spent on this platform I wasn’t only writing to earn. In the process I also learned to love #BitcoinCash for all its amazing functionality, low fees, fast transaction times, which makes it the real Bitcoin in my eyes. The money that we can use on a daily basis and without border restrictions.
Further more I’d look into more ways of getting some passive income from my precious BCH. The world of DeFi is booming and it is a dangerous world if we’re not careful. I have learned many expensive lessons from dipping my toes into DeFi. With little careful steps, I will continue learning more about investing and to start with I would most likely utilise platforms like BlockNG to safely put my BCH to work on passive income. Yes, I managed to 2x my investments in a few days in the past, but I also grew overconfident and lost it all. With that in mind I will be satisfied with a few % of safe and steady income from my BCH until I learn more.
The current price of BCH is way too low for me to consider converting it to FIAT or spending otherwise. The bear market won’t last forever though. When its value grows I will then consider spending some more of it on things I would like. Like building the wall in my back garden. The builders that are currently building my neighbours fancy wall are big on crypto. Who knows, maybe they would consider taking a payment for my wall in Bitcoin Cash?
In my country there are still very few places where I could pay with BCH, but more and more of them are showing on the BCH map. With some extra BCH to spend I will sure look for more opportunities to do so.
What are the blessings worth if we can’t share them with others? With 1000BCH extra in my wallet, I would sure put aside a nice chunk to support all the amazing writers and content creators of read.cash and noise.cash. It just feels good give and pay it forward.