add cryptocurrency to your income streams

Why You Should Add Cryptocurrency to Your Income Streams – The Candid Cashflow Podcast – Episode 24

Last Updated on June 20, 2021 by Ava

grab the pdfIn a hurry? Grab the PDF version of this post and read on the go! <<<

 

stock market

Let’s consider a scenario.

Let’s say you work for a company who is giving you stock shares as part of your benefits package. Now, you don’t know anything about the stock market, but from what you understand, these shares could be worth quite a bit by the time you see retirement.

What are you going to do? Accept the shares or opt out of the option to receive them?

There’s a huge potential for free money there, and lots of it. You’re not being asked to invest anything or learn anything. You’d almost be crazy not to take that gamble when there is no personal risk involved, right?

You have nothing to lose.

What if I told you that a similar scenario exists for pretty much everyone on the planet with an Internet connection?

Well, minus the part where you have to work for a company to get the benefit…listen, this same opportunity exists for YOU, and it’s called cryptocurrency.

Regardless of what you think about it, it is FREE MONEY. That’s right, you don’t have to invest in

free money

cryptocurrency to profit from it. If you want to know more, don’t touch that dial!

This episode is sponsored by Coinbase.

Coinbase is a newbie-friendly cryptocurrency exchange where you can buy and sell Bitcoin, Ethereum, and Litecoin.

Get started today and earn $10 worth of Bitcoin on your first $100 worth of exchanges.

I recently learned how similar the cryptocurrency market is to the stock market. I could not be less interested in the stock market than I am at this moment. It’s just not my thing, but I’m very intrigued by crypto.

Did you know that you can day-trade crypto just like stocks?

day trading cryptoI’m actually learning the ropes of this right now, and will probably do an episode on that in the future if I have positive results. Before I get in too deep here, I want to encourage you to grab the show notes for this episode of The Candid Cashflow Podcast because there’s going to be a lot of links. Get your copy at HeyYoAva.com/Episode24

Let’s discuss a few terms you need to know.

  1. Airdrop – When new coins and tokens launch, sometimes the developers will offer a fixed amount for free to individuals who opt in to their list and complete the steps required such as posting to social media, or subscribing to groups, etc.
  2. Blockchain – Blockchain is the technology that cryptocurrencies are built on. It consists of a digital ledger that records cryptocurrency transactions chronologically and publicly.
  3. Cryptocurrency – If you’ve been under a rock, cryptocurrency is digital money like Bitcoin that you can use to buy and sell online.
  4. Exchange – An exchange is a secure platform where you can trade different cryptocurrency coins, tokens,  and fiat currency.
  5. Faucet – A faucet is a website that offers free cryptocurrency at certain intervals in small amounts.
  6. ICO – This stands for Initial Coin Offering, and refers to new cryptocurrency coin and token launches.
  7. Mining – Some cryptocurrencies can be mined using special software and hardware. Mining requires some pretty hefty computer power as it consists of using computers to solve algorithms. Each time an algorithm is solved, one block is mined. Each block is 1MB of data. With Bitcoin, each block is worth 50 Bitcoin.
  8. Wallet – A super secure digital place to keep your cryptocurrency that is specific to the type of currency you have. Wallets can be made of software, paper, or hardware.

Cryptocurrency Can Equal Free Money

I think there’s a common idea that in order to own cryptocurrency, you must buy it. From these few terms, I think we can ascertain that’s not always the case.

Crypto provides a lot of opportunity for investment and profit without a ton of risk. For example, I steemitmentioned that I’m learning to day-trade, I’m using crypto that I earned blogging on Steemit.com.

I use my STEEM in the exchange to buy Ethereum, and run my trades with that since the transactions are less expensive than Bitcoin. All exchanges have transaction fees that vary in amounts. I like to trade on Binance because they have their own coin, and they will cut your fees in half if you use their coin to pay for your transactions.

I have invested $0 of my own money into cryptocurrency.

So, you might be thinking, “Well, I don’t blog, so how can I earn?”

Okay, excluding writing blog posts on Steemit.com, there are several ways left to earn and get cryptocurrency.

8 Ways to Get Cryptocurrency With No Monetary Investment

dtube1. Upload Video Content to DTube

Just because you’re not into blogging doesn’t mean you can’t still earn STEEM. Go ahead and make that Steemit account if you record video or sound to post online.

For example, if you have a YouTube channel, you can repurpose that content and use it to earn STEEM. You’ll need to create an account on Steemit.com first. Then you can use the same log in credentials over on https://d.tube/.

You can upload your videos. They will appear automatically on your Steemit blog, and be available on both platforms for comments and upvotes. Both will earn you STEEM.

The really cool thing about DTube is that it’s decentralized which means no one person or entity can come back and censor anyone else on the platform. Free speech is real and truly celebrated in light of the censorship happening on YouTube. If you decide to use the DTube platform, keep in mind it is nowhere near the size of YouTube, so you may experience bugs and lags that you normally wouldn’t on the larger platform.

2. Upload Music and/or Sounds to DSounddsound

If you have a Soundcloud account that you post music and/or sounds to, you can repurpose that content on DSound.audio.

Like DTube, DSound requires that you have a Steemit.com account first. You can then log into DSound with your Steemit credentials. When you upload sounds to DSound, they automatically appear on your Steemit blog.

Users on both platforms can then upvote and comment on your content, and earn you STEEM.

zappl3. Post Zaps to Zappl.com

If you’re familiar with Twitter, a Zap is like a Tweet. It’s a short post that is 240 characters or less. You can include images or videos with your blurb. The Zap posts to your Zappl account as well as your Steemit.com blog.

You can then receive comments and upvotes earning you STEEM.

Also worthy of mention: Steepshot is also built on the STEEM blockchain, and is an Instagram alternative that allows you to earn STEEM for your image posts. I haven’t personally used this one as I just found it while researching for this episode.

Additionally, as a sidenote: There’s been a lot of development on the Steem blockchain because it’s the first real paying alternative to regular social media and blogging. I’ve personally made more than $1000 on Steemit, so it’s definitely worth looking into if for nothing else than earning with your time.

This is much more effective than mining in my opinion since mining requires expensive resources like electricity, hardware, and bandwidth. See more apps built for STEEM at SteemTools.com.

Don’t forget to the grab the show notes for this episode, so you get all the links at HeyYoAva.com/Episode24

4. Mining Cryptocurrencymining cryptocurrency

I don’t know much on this topic other than it’s expensive and inefficient to mine if you don’t know what you’re doing. If you are interested in seeing what it’s all about and you have some capital to invest in a mining rig, check out the imineblocks YouTube channel. This guy seems to have a handle on what’s going on with mining.

He builds his own rigs and takes a DIY approach to mining. If I’m not mistaken, he also runs at least some of his miners off solar power.

I do some mining, but it’s super small scale using mining apps on my phone. The main one I’m running right now is the Electroneum app. You can grab that and get started in the Google Play store or AppStore with a simple search. If you need a referral code, mine is C4DE63 to earn an extra 1% of everything you mine.

5. Participate in Social Media Platforms

Steemit, and all of the third-party apps using its blockchain are social media platforms designed to pay you in cryptocurrency just for doing the things you would normally do on social media like updating your status, posting images, videos, and memes.

Several months back, I wrote an article on my Steemit blog about other social platforms paying in crypto. You can read the post by visiting HeyYoAva.com/paidsocial

cryptocurrency faucets6. Visiting Faucets and Collecting the Free Crypto Offered

The only faucet I personally recommend is Qoinpro. They just recently went through a huge overhaul, so hopefully they are better than ever.

Qoinpro allows you to generate a number of different coins on an ongoing basis with minimum payouts. The coins available are Bitcoin, Litecoin, Bitcoin Cash, Fedoracoin, Dogecoin, Dash, and more!

You do not have to even log in on a regular basis. You can just let your account sit and generate coins until you reach the minimum payout. Then you can withdraw the coins to your wallet to do with as you please. Free money.

7. Receive Payment in Crypt0 for Services Rendered

One way to earn is to accept payment in cryptocurrencies as an alternative to options like PayPal or check. I accept Bitcoin, Ethereum, and Litecoin as forms of payment for my VA or virtual assistant services.

To receive payment, I simply give the payee an encrypted address that looks like this:

3KHxK3XiA5DzmMS8VYfMpQ5yXBNQgVDTKQ

They then use this address to send me a specified amount of a specific cryptocurrency. The amount is usually determined by the amount equivalent to a US dollar amount.

8. Sign Up to Receive Airdropsairdrops

I am relatively new to airdrops as in I’ve signed up for exactly two, but I learned about them from a friend. They are pretty much free money.

I simply signed up for the email list for these 4 sites:

When they send me an email notification, I go have a look and sign up if I don’t have to jump through too many hoops. The different coin and token developers request that you do things like subscribe to their Twitter account, join their Telegram group, send a Tweet, etc.

Airdrops have a monetary value most the time as far as I have seen. These tend to be coins that have already launched, are on the exchanges, and have some kind of established value, but you must be the ultimate judge.

For additional airdrop links, be sure to grab the show notes! I’ll be including a link goody bonus you don’t want to miss.

add cryptocurrency to your income streamsAdd Cryptocurrency to Your Income Streams at Your Own Risk

Cryptocurrency is still really new. So new, in fact, that it hasn’t gone mainstream yet, but I think it could at any moment.

With it being so new, I think the world governments are still trying to figure out what to do with it. Some have banned it, but for the most part, it’s being allowed to thrive on the fringe.

I’m not the most knowledgeable person when it comes to cryptocurrency, and I’ll be the first to admit it, but using Steemit has taught me that cryptocurrency translates into real, spendable cash.

If I can acquire small amounts here and there for pretty much free and trade it up into larger holdings, why in the heck would I not do it?

Should you choose to dive into the world of cryptocurrency on my advice, keeping in mind that I am not a financial adviser in any sense of the word, you do so at your own risk. I have found the risks to be nil, but your experience could be very different.

I do not advise that you invest money into crypto that you need to live for rent, food, etc. In fact, I don’t advise that you start by investing money at all.

Understand there are no guarantees with crypto and you should only use coins and tokens that you have researched and trust.

That’s a Wrap

There you have it, Cashflowers. <<< I just made that up the other day for the followers of The Candid Cashflow Podcast. Do you think it’s too cheesy? Let me know in the comments…come on, get in there and say something. I’m 24 episodes in, and I have like 2 comments.

Do you know of additional ways to get cryptocurrency with pretty much no risk, financial or otherwise? Let the community know!

I’m thankful that you, yes YOU, stopped by to listen today wherever you are. The 970 total downloads as of this episode tell me that you’re indeed out there. That’s enough!

If you enjoyed this episode, then you definitely don’t want to miss what I have in store for future episodes! Come over and subscribe in your favorite app at HeyYoAva.com/candidcashflow.

You know you want to be a Cashflower!

Don’t forget to grab the show notes at HeyYoAva.com/Episode24 if you heard something of interest or you want the bonus links!

I release a new episode each Wednesday.

Until next time…turning your passion into cashflow!

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