Given how much BlueSky folks seem to hate crypto, I'm moving this to p0x.

No point talking if y'all got your fingers in your ears. 😆

#crypto #cryptofornewbies

www.publish0x.com/earning-a-mi...

Gotta say I'm stunned by the antipathy to crypto on BlueSky. Like, does everyone actually believe that traditional finance isn't a complete scam designed to fuck you over at every opportunity?

#crypto

So the choice is really about trust. Which CEX do you trust not to rug you and disappear with your money, like so many scammers do?

(1/3) Most people go for Binance cos it's big and legal. I hate it. It's the Amazon of crypto - fucking assholes. But yeah, it's safe.

#crypto #cryptofornewbies

Assuming you've got some crypto, the big question is where to put it so you can earn.

Exchanges come in two types: CEX and DEX. Centralised and decentralised. DEXs are "better" cos you don't have to deposit your crypto, but they're rare and frankly a bit shit.

#crypto #cryptofornewbies

Alternatives to onramping? Oooh, that's a tough one. Putting it simply, you'll have to trade time and energy for often very small amounts.

Putting aside actual work earnings in crypto (which is possible), your best bet will be faucets and GPTs. (1/3)

#crypto #cryptofornewbies

Where to start? Onramping, I guess. (1/3)

Onramping (horrible manager-speak word) is buying crypto with normal money (fiat). When I started, you could do it without KYC identity checks, through places like LocalBitcoin or Bittylicious. They all require ID now.

#crypto #cryptofornewbies

This is how it's going (last 7 days). I'll post details of everything as I go.

#crypto #cryptofornewbies

I am not a "crypto bro". I got in early enough (2014ish) and believe it's a wonderful concept - I mean Nakamoto's original vision of effectively removing TradFi control. I won't post buzz and nonsense, I simply think crypto is here to stay and a good way (for me) to earn.

#crypto #cryptofornewbies

I want everything I find to work whether I'm putting in £10 or £1,000 or £10,000. I'm giving myself a target of £1M in 5 years - that's x100 on the initial amount - which I hope would be the same if I'd started with £10 (and end with £1,000). I am risk-averse, too.

#crypto #cryptofornewbies

Now I realise that's a LOT of money. I'm used to trading for, like, $10 at a time. Maybe $100 at most (and that was scary). So this is all new ground for me as well, though I've now been doing my thing for about 180 days or so.

#crypto #cryptofornewbies

When a very close friend died recently, he left me a share of his house. When that sold, I put £10,000 into crypto investment. Since crypto runs mostly on USDT values, at the time - 1st April this year - that worked out at $14,000.

That was the starting point.

#crypto #cryptofornewbies

For years, I've just broken even (pretty much), usually because life throws me a curveball every time I managed to build up some profit.

#crypto #cryptofornewbies

I've been trading crypto for years and I'm awful at it. So this time, I'm trying to find better ways to earn in the short, mid and long term.

I'll be posting what I figure out.

#crypto #cryptofornewbies