EfficientNinja

I'm just waiting for my buy signal before I buy Bitcoin. I'm checking the price daily to see if it already hit my buy criteria. Right now, I'm just making more money so I will have more volume once Bitcoin goes on another bull run.

Good Day, Sling Bank Members! Why are you into Cryptocurrency? Is it because of the earning opportunities? Is it the greed or is it the fear of missing out on the gains? Was it because of the returns last year? Is it the technology and the benefits that it would give us in the future? I would like to know what the members of this community's reasons are for getting started into Cryptocurrency.

That's what I thought about those sites too. Good thing I am somehow familiar with exchange sites but I still did some research and looked for tutorials so I won't do anything wrong. There are lots of sites that provide tutorials for newcomers.

I agree that mining is hard nowadays because of Bitcoin's dropping price. It also doesn't help that a lot of electricity companies are increasing their electricity bills. These two factors are the main challenges of cryptocurrency miners. If they can somehow find a place where rent and electricity are cheap, they could profit more even though cryptocurrency prices are bearish.

I don't think they would be considered scam just because they take a lot of time to pay out. I've experienced getting paid by them with a minimal amount of effort per day. The ones you should be worried about being a scam are those cloud mining sites that pay insane amounts of interest on your investment. If it's too good to be true, it probably is.

Soon, many people will switch to Ethereum. Bitcoin was made a long time ago and we are seeing its flaws, especially on security. Ethereum fixed all of those that's why those who know about technology are eyeing Ethereum. You'll notice that Ethereum supports tokens, which is widely used by those who are experienced with crypto. Have you seen the price movement of Bitcoin VS Ethereum? If you compare it you'll see that Ethereum is more stable.

Hello, Sling Bank members! In the cryptocurrency market, there are different types of traders. There are the long-term types, which buys and 'HODLs' crypto for months or years. There are the mid-term traders that are also known as swing and position traders that buy and sell depending on the trend of the market. There are also short-term traders or scalpers that trade intra-day. Which of these trader types do you belong to?

If you are a beginner in trading, I would suggest going for Coinbase. Binance's user interface and features are meant for experienced traders. Binance also offers more altcoins to trade. Coinbase is limited to only the most popular cryptocurrency and won't give you many options in trading.

No, I wouldn't. Aside from me still being a high school student at that time, I don't have my own money to spend on things like cryptocurrency. It is also not that known yet and I would consider someone offering me Bitcoin as a scammer that targets those who don't know anything about Bitcoin.

Yup. But if you're looking for a cryptocurrency that has better features and security than Bitcoin, you should check out Ethereum. Some people go as far as saying that it is Bitcoin 2.0 because it is superior and fixes the issues that Bitcoin has.

Buy Bitcoins using coins.ph then trade them on Binance or other well-known cryptocurrency exchange sites. This is the simplest because you trade them like stocks and forex. They also have stop-loss orders there unlike in the Philippines stock market, I have to manually check if it hits my stop loss. You can buy Bitcoin using your money then trade it by buying other altcoins in the market. You should be skilled in Technical Analysis if you are going to do trading. I've read enough books but I am still backtesting my trading system.

Good Day, Sling Bank members! Most of us here in Slink Bank already own cryptocurrency. Some of us may have gotten them while doing crypto mining or bought it online. I would like to know when you started owning cryptocurrency. Was it before it was famous?

The crypto scams in the Philippines are also the main reason people associate Bitcoin as a scam. Whenever anyone hears the word Bitcoin, they already assume it is a scam because of not having the correct knowledge about cryptocurrency. They think to have Bitcoin, you'll have to join an MLM. I think it's too late to teach the majority of the population about what crypto is because it already has a bad reputation.

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

Well, for one, Bitcoin is the most popular cryptocurrency right now. It is also the most valued cryptocurrency right now. Most of the cryptocurrency in the market also depends on Bitcoin's price. If you will look at CryptoMarketCap, you'll see that most of the crypto price movement is actually similar to how Bitcoin's price moves.

I suggest investing it again in your crypto business or diversify to another business. This way, you're adding to the capital and you'll gain more from your crypto business in the future. It's like you're compounding the interest. You'll be multiplying your money in no time.

Good day, Sling Bank members! If you've been exposed to cryptocurrency for a while now, you may have heard or even tried Airdrops and Bounty Hunts. To those of you who don't know yet, Airdrops and Bounty Hunts are offered by companies who want to reach more people by promoting their services and/or their own cryptocurrency in exchange for free tokens. These tokens could be traded on cryptocurrency exchange sites and then you can convert it easily to cash. So, have you participated or are you actively participating in Crypto Airdrops and Bounty Hunts?

You could also mine Bitcoin or Satoshi. This falls to this thread's criteria of not having any initial investment and it won't take too much time to set up. Although the profits that you will gain will greatly depend on the computing power of your computer's hardware.

The problem with those websites or services that offer cloud mining is that they are risky. Most of them turn out to be scams. I wouldn't risk my money if the odds against me are too great.

I agree with @Martinsx. I would also add that you should invest in the most reliable Crypto like Bitcoin and Ethereum. Investing in smaller crypto would be riskier. You can also go for long-term investment if you are able to buy the crypto of your choice at a low price.

Maybe Bitcoin would be valued more because there would be less supply and more demand? We don't know for sure. It could also go the other way and no one wants Bitcoin anymore. Nobody really knows.

Hello, Sling Bank members! Have you tried trading cryptocurrency or Altcoins? For those who have experience in trading stocks, forex, and other markets, you might have already ventured in crypto trading. Some of you may have already earned a lot especially if you have a consistent and profitable trading system. Bitcoin and other cryptocurrency are volatile and it is a good source of income if you are skilled in trading.

I'm not sure if I would get a notification. You're going to be my first referral in those websites because I'm not fond of finding and recruiting downlines like those MLM people. 😁 Good luck and I hope that those Crypto faucets I shared are good enough for you. 😁

I think it took me about a month. I only open these sites at least twice a day. Once in the morning and another in the afternoon or evening. It's to take advantage and maintain their "loyalty bonus". I think it will take half the time to build the minimum payout once you've maxed out the "loyalty bonus" to 100%. Their loyalty bonus is like your streak or the count days of continuous usage of their service that will be an added bonus for your claims.

It's good that you are now staying away from MLMs. Although some people are earning from them because they are good at finding downlines, I find the process of earning money through MLMs unethical. It's like you're passing your job to others and letting them do the work for you. And this chain of passing their own jobs continue only making those at the top money. Bitconnect wasn't an MLM but it still scammed a lot of people. It's best to research an investment well before putting any money on them.