Bright Ideas for Crypto Enthusiasts
Updated: Jul 9
The inspiration for this www.cryptoslynx.net, relates to three things: the rapidly growing crypto industry, how difficult it is for some folks to accumulate wealth, and the many scammers out there that would take every last token or coin you have ever bought or earned.
I want this to be a safe space for novice and intermediate crypto enthusiasts, where they can share ideas and have a sense of confidence that I am not out to get anybody. I am not selling anything. I do not want your bank account or crypto wallet info. I do have referral links with the hope that some of you will use them and I can maybe do a little better than break even on the cost of designing and managing this site.
I do have a goal to make money in crypto. I am making money with crypto. I know people making money with crypto. I am an educator by trade. I want to share lessons I have learned with the world. Here are three very important details that make a great reference point regardless of where you are in your crypto career:
Crypto is Booming
It is really unbelievable what has happened in the last decade. Countless currencies have been invented. Many millionaires have been made. Lots of folks have retired early. Even more have padded their retirement accounts with extra cushion.
Unfortunately, most of us on this site aren't thinking about retirement yet. We didn't make millions or we wouldn't have any interest in faucets or mining apps. However, I have been around long enough to have a bit of insight. I saw the saw the dot com boom. I lived through the Silicon Valley boom. I have watched stock market bull runs and lived through several recessions. I have been active in stock trading for a couple of decades. While I am no expert on cryptocurrency per se, I do have some perspective. I say all that to say this: there is still a lot of money to be made in cryptos. You are not too late. Some coins that you haven't even heard of yet will make some folks rich. The altcoins have plenty of room for growth. Don't think you are too late. You will only miss out if you do not get in.
You Don't Have to Have Money to Make Money
Of course it helps to have money to make money, but there are ways to make money without having a whole lot. Here is a five year plan that I am working on for myself:
Put 50% of everything I can save in a variety of cryptocurrencies including Bitcoin, Ethereum, other altcoins, and stablecoins earning interest.
Move some, but not all, profits into stablecoins from time to time.
Run faucets, phone miners, and other crypto apps that are linked to wallets. (As a side note, I will never play a game on a phone that isn't in some way earning me crypto. I find most of these through offers on my faucets).
Continue to read, research, write, help others, and gain referrals.
Make no withdraws from my major wallets.
Keep my day job so that I do not have to dip into my crypto earnings.
Repeat number 1. Save. Every. Month. Even if it means not eating out, or cutting back on recreational activities, I will save something every month.
Be Careful for Spammers
Don't fall for the get-rich-quick schemes.
I am not going to list negative sites. There are plenty of fact-checkers and sites you can research to figure out who is trying to scam you. The point is that you need to do your homework before giving your valuable personal info to any site, regardless of how professional their site looks or how much money they promise you will make. Don't let the dollar signs (or BTC signs) cloud your judgment. Keep your emotions in check.
My agenda on this site is to promote the best of the best. I am not getting anything from these sites other than the crypto I have earned just like anyone else. Unfortunately, for every legit site out there, there are probably a dozen or more that will take advantage of newcomers. Even some of the ads that you click on to earn coins on the "legit" sites will lead you down the wrong path. Just be careful.
In the back of my mind, I guess I am a bit skeptical and distrustful until I get to know you for while. Even with some of the faucets, I share a wallet with them that has minimal holdings until I see that they are legit. I have never been scammed (knock on wood). I aim to keep it that way.
I shared with you my five year plan. Come up with your own plan and stick to it. Be careful, but not so careful that you aren't courageous as well. I still have folks that are a generation older than me that tell me I am crazy for investing in crypto. I was listening to those voices ten years ago when I had three or four Bitcoins in my cart to check out. I chickened out back then. I don't listen to those voice any more.
The information on this site is for education and entertainment. Please buy, sell, trade, and exchange at your own risk. Only invest what you are willing to lose.