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My Own BCH Spending Rule

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Avatar for kingofreview
Written by   264
3 months ago
Topics: BCH, Spendings

It's been already a month since I stopped doing my electronic load business due to the sudden drop of BCH, and my mother or either my sibling commonly asking this.

“Kelan ka mag-lo-load?”

Personally, I am always responding that I need to accumulate more BCH, but they are always repeating this cracked disk question.

Preferably, I decided to make my own BCH spending rule since I madly want to withdraw even only a single portion of my hard-earned BCH, and my cash is unfortunately decreasing due to my expenses as the time goes by.

Moreover, a sample of promising authors here have been sharing their experiences upon how they're spending their BCH in a right way, and this made me inspired or encouraged to make my own rule as well.

For instance, Ate @ZehraSky shared in her article on how she's spending her hard-earned money with the help of Bitcoin Cash. In her article, she told that she's having a short term and long term goals that she needs to attain before the specific date, and that's made me inspired to allocate my money as well.

On the other hand, Ma'am @MizLhaine specified in her article on how does she spend her BCH by means of the infamous spending rule particularly the 50/30/20 rule which was popularized by common international financial advisers.

The Balance

Since we've been here on the right track, why do we need to add more words just to supply the four-minute rule? Anyways, let's get started.


1) Milestone Rule

In every BCH price, it's not quite new to other users that we have a corresponding milestone that we are celebrating. Admirably, a lot of noise users regularly keep an eye on if BCH will rise up or growl down, and that's their way on how they earn money. Supposedly, I decided to utilize it as a good break for my saving purposes, and I've been proposed my 90/10 rule which I will spend less, and I will save more.

Likewise, if we accumulated BCH in a low price then it rises up, we will undeniably convert it to PHP. Frequently, if the BCH went down on the $500 mark and you got it on $750, we don't have any choice on our assets but to hold it. Contrarily, that's one of my reason why I did this rule and I will convert it to PHP if the price of it hits my desired milestone.

Since I saved this BCH when its still $500, I don't have choice but to hold it so I can gain net income and not income loss. Similarly, if its price will reach the $600 mark, I will obviously transfer the 10% of my total assets to another wallet and hold the remains which is 90%. Furthermore, if the BCH reached the $600 target and I have $23.15 on my noise.cash wallet, then I will clearly multiply it to 0.10 and that's the exact amount that I will transfer in my Saving For A Cause wallet.

To make this simple, I made this ordinary pie graph which I will obtain if the cost of it attained to my desired goal.

The blue portion of the graph resembles to my spendings while the other one is for my holdings.


2) Breaking All Time High Rule

Did you ever questioned yourself about the things that you will you do if the BCH will reach it's all time high? Personally, I've been set a plan for that and I don't know if when it will certainly happen. Conversely, here is the specific post that I'm obviously referring to.

What will I do if BCH hits the $2,000 mark?

Hold the 50% and convert the 50% to USDT.

For instance, I have 1 BCH in my total wallet, and the BCH reached $2,000 milestone. Obviously, I will just hold the 50% of it which is 0.5 and I've set another plan for the other 50%, and here are those.

Convert the 30% of USDT to my native currency.

For example, I've replaced my 50% total percent of my crypto holdings to crypto exchanger specifically on Binance to transfigure my BCH to USDT. Then afterwards, the price of it goes up. Evidently, I will withdraw it for my E-Load business so I can sell it to my loyal costumers, and I can treat myself. As of now, I'm just dreaming this kind of scenario since it's just temporarily a punch to the moon.

Stake the 20% on my Binance Launchpad account.

Since I'm just waiting for the bearish day, why could I try to stake my USDT so I can earn a bit of interest? Through that, I can make sure that my asset will grow high even though my USDT is sleeping. Simple interest with high APY can make my asset grow without doing anything.

*The spending on dip has been already mentioned.


As of now, I will just wait the BCH to reach $500 so I can withdraw $8.45. When kaya? I think he is just waiting for me to accumulate more BCH so I can achieve my 1 BCH without spending anything.



*sorry to bad grammars

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Avatar for kingofreview
Written by   264
3 months ago
Topics: BCH, Spendings
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Comments

Ngayon ko lang narinig about the 50-30-20. Thanks for that. I will keep that in mind. 😉

As much as I want to publish an article on how I spend or save the BCH that I have earned both here and on noise.cash, I cannot. It would not even reach 300 words. LOL. Majority of my earnings are for my credit card debts. If I have a little extra that is where I would treat my family or buy the things that we need. It may not be the essentials or basic necessities but things that we could really use. I cannot wait to read your article when you have reached 1BCH.

$ 0.02
2 months ago

Sariling plan ko yun ate kaya ganon haha. Maganda rin ate na may savings ka for yourfuture na rin. Sa bagay, di pa naman po ako bread winner

$ 0.00
2 months ago

Yung $1 per day challenge yun meron ako. Then sa savings account tinatry ko at least Php200 per month makapagdeposit. Yun pa lang talaga ang kaya sa budget. Minsan nga hindi pa ako nakakadeposit. Hirap ng maraming bayarin. 😭 kaya kung ano-anong raket pinagkakaabalahan ko.

$ 0.00
2 months ago

I was always a fan of the 70-20-10 rule. Parang ganun din 'to sa 50-30-20 rule ay. Pero minsan is nabi-break ko 'sya. But, I'm doing all my best para ma-accomplish 'to ng mas madalas.

$ 0.02
3 months ago

Goal oriented ka naman ate eh. Haha

$ 0.00
3 months ago

Hahaha grabe sa goal oriented ah.

$ 0.00
3 months ago

Naysuuu king, gusto ko din sana mag ganito kaso di nga pala ako pala withdraw whahaha.

$ 0.02
3 months ago

Ako ang tagal na ate haha. Di pa ako nagwiwithdraw haha

$ 0.00
3 months ago

May kwarta kapa naman ata ee. Save nalang muna.

$ 0.00
3 months ago

Thanks for the mention here. Maybe when you became 20 you will also be millionaire.

$ 0.02
3 months ago

I hope so but that's merely impossible

$ 0.00
3 months ago

This is a great way to spend and well, manage your BCH. Might as well I'll try it too. Thanks for this great article, it will surely help many people here.

$ 0.02
3 months ago

Welcome po

$ 0.00
3 months ago

Nice plan. I am also thinking on how to spend my BCH wisely and your article realkt helped me alot.

$ 0.02
3 months ago

It's my pleasure po. Thanks

$ 0.00
3 months ago

Well i was also planning to make some rules of spending and already applying but it's not working for me so changing strategies a little bit you're on right path!

$ 0.02
3 months ago

Sometimes, we need it so we can be disciplined hehe

$ 0.00
3 months ago

Not a bad idea bro.. But as like i said hodl for short term profit is not good so often i trade my any crypto to cash whenever need.. But i liked your the planning of 2k bch reach destination!

$ 0.02
3 months ago

Yeah, so I can treat myself

$ 0.00
3 months ago

Cheers bro!

$ 0.00
3 months ago

MgNda opportunity ngayon bumili ng madami BCH.
Kung may pera 🤣

$ 0.02
3 months ago

Ang problema ate, walang pera hehe

$ 0.00
3 months ago

Yun nga eh 🤣

$ 0.00
3 months ago

Required ba talaga pag nag 1BCH, nakahide? 🥲

$ 0.01
3 months ago

ang baba kasi nung price ate, ang layo sa katotohanan hehe

$ 0.00
3 months ago

I like your ideas on how to save your bch and getting other things done which will help you accumulate more.

The thing is we need to think of helping ourselves for the future by saving in case we need other emergency things to do in the future. Great one. I also have my plans already on saving my bch and spending less on things I need especially as I am still a student.

$ 0.03
3 months ago

Yes, saving po is a great help for the future especially if you don't have anything to get on your pocket

$ 0.00
3 months ago