8 ways to raise some money and keep your crypto
Tags: Blockchain

Sometimes it happens that you need some money, and all your spare money is in crypto, if you are a crypto trader. It would be better to manage your money wisely and never let this kind of situation happen, because you must always have some money to spend on living, and invest only that you can afford to lose or that you wouldn’t need in 2–3 years. Anyway, if it happened, and you invested more than you should have put in, now you have to find a solution. To sell you crypto isn’t a best solution sometimes, because it tends to grow tremendously when you sell. If you don’t want to miss the profits, you should better find any other source of income. It should be some other source than your salary.

1. Find a freelance job.

Being a crypto trader means that you have a particular set of skills and knowledge, that might be useful for someone else. Nowadays there’s a high demand for people in crypto industry. Maybe you can become a part of an ICO team and serve a community manager in your free hours? It is paid well in most cases. You can find these vacancies in Telegram or Twitter.

2. Write and publish crypto tutorials.

These guides “for dummies” are really popular and are highly demanded, because there’s more and more people getting in, and a lot of info on crypto you can find online is controversial, thus any practical valuable experience can be useful for newcomers. Try contacting editors in the tech and crypto magazines you like and offer them your articles.

3. Borrow some money from a friend.

Generally we wouldn’t recommend it, since any form of financial relations with friends better be avoided. Of course, there is no repayment schedule, and probably, no interest. But your relations can become more tense, especially if you don’t take the debt seriously.

4. Take a loan, using your crypto as a collateral.

There are some services, like ecoinomic.net, that let you pledge some coins, like BTC or ETH, receive the money when you need it and then return it to the lender when you can, getting your crypto back. It could be a good and easiest option, given that you don’t risk anything, because you don’t sell.

5. Teach somebody how to trade.

It could be a bad idea, if you haven’t made some significant achievements by yourself. If you’re stuck in a situation when your money can’t be withdrawn without a loss, maybe it’s not a good idea to consider youself capable of teaching other people. Teach someone only when you know that your knowledge will benefit your student.

6. Negotiate your boss a bonus payment for your performance at job.

If you’re working hard, and show an effectiveness, why not? It could be a good option if you are a good employee.

7. Sell some of your old stuff.

It could be your CDs, old cell phones, electronics or maybe a pair of old boots. A full-scale garage sale! If you don’t need it, why should it collect the dust on the shelf? It could give you a decent amount of money to pay some bills and buy some food until you receive your salary paycheck.

8. Try dogsitting.

Dogs are adorable, so it could be a very pleasant job to raise some extra money. You can use the services like tailster.com or care.com/en-gb/jobs/pet-care, there’s a lot of jobs waiting for you.

There are many ways to raise money instead of selling your funds, let it be crypto or stocks. All crypto markets are very volatile, and sometimes the swings can leave you with half of the money you have invested initially. But remember: you lose only when you sell. Thus don’t sell it, and just wait for the market to turn in your favor. The most important thing here, as it was said earlier, don’t invest the money you would need in 2–3 years. Consider them gone for a period of time. Make a plan, how are you gonna live without these funds. Maybe it would be a better idea not to invest it, or invest just a half. If you manage your funds wisely, you won’t need these lifehacks. And if you have made it all wrong somehow, it’s up to you, what are you gonna do in such a situation, there’s no any best option. Somebody would take a crypto-backed loan, somebody would just ask a friend, somebody would walk dogs. This situation won’t last long, isn’t it?