Cryptocurrency

4 Profitable Side Hustle That Works in 2022 (my fav is #2)

Earning more is never wrong.

Especially if you’re diversifying your income sources as well as monetizing your spare time instead of wasting it.

#1 Low hanging fruits: App-based services

Think of app-based services such as:

  • Food delivery: DoorDash, UberEats, GrabFood
  • People transport: Uber, Lyft, Grab
  • Parcel/item delivery: uparcel, LalaMove

and a lot more other similar businesses.

The good:

  • You can plug into the gig economy quickly and easily, simply by downloading the app(s) and applying to be a service provider.
  • Once they have approved your application, you can start work almost immediately (usually less than 7-14 days wait) and earn extra money daily
  • You can work around your schedule
  • Get paid quickly

The bad:

  • small-ish amounts

#2 Website + affiliate marketing (my fav)

This is by far my favorite.

The good:

  • you own your own website, which is similar to an online magazine that belongs to you (and no one can take it away from you – it’s your asset that you can grow or even sell or even give to your kids if you want to)
  • no income ceiling – you can earn a lot (there are bloggers earning $10K+ a month and more)
  • you can be as creative as you want
  • you can sell anything…as long as there is market
  • scalable with technology
  • 24/7
  • work from anywhere

The bad:

  • it takes time – at least 18-24+ months to see your first dollar
  • high learning curve (tech can be overwhelming in the beginning)
  • sometimes you can get hacked

It’s one of the hardest type of businesses to build, but it’s worth it when it works.

I learn how to build a profitable online business with Wealthy Affiliate (affiliate link). Sign up for free and no credit card needed – test it, speak to the community there, and then if, and only if, you’re ready to commit to building profitable online business, sign up.

#3 Buy low sell high

This is one of the fastest way to make money, but you need to be in the know. It’s one of the oldest form of business, where you buy (or make things) and sell it for a profit.

Some ideas of things you can sell includes baby wearing wraps and carriers, carpets, furniture, food and drinks (think bakes) as well as collectibles like NFT and pokemon cards.

The good:

  • it works
  • can be fun

The bad:

  • carrying inventory can be stressful or complex (if it can rot/spoil, like food)
  • you will also need to be active in your community, such as FaceBook groups, craigslist, flea markets etc.

#4 Convenient to-you services

This will be my 2nd favorite way to earn more, which is to provide convenient home services.

It can be massage, physical therapy, physical training, nail works, plumbing, electrical, handyman, pet sitting/walking, grass cutting, house sitting etc

The good:

  • people will pay for convenience AND
  • people will pay when they dont know how to do it

The bad:

  • its a service, so you need to show up and do the work
  • you need to collect money

Earn more so that you can invest in investments that can pay you interests and dividends, or to go for holidays and dinners. Your money, your choice.

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I’m Buying The Crypto Dip (my simple reason why)

This is NOT financial advice and neither am I calling you to invest in what I’m doing – I’m showing you what I’m doing and why I’m doing it.

Also, let me also stress that there is a high chance that crypto market as a whole can go lower.

Bitcoin (BTC) and Ethereum (ETH) can go down another 20-50%.

The top 10-15 crypto projects can drop another 40-60%

ALT coins can go down another 50-80%+.

Who knows?

My simplistic basis of re-entering the crypto market is really

  1. I fundamentally believe in the technology and emerging asset class of crypto. I’m taking an asset view AND utility view for the middle to long term. So 3-5++ years of hodling, I’m good with that. 10 years or part of my legacy also is considered.
  2. Bitcoin and Ethereum has gone down at least 65-70% of their recent at the highest (ATH), and I am unable to time the crypto market at all. I dont mind buying good assets with 65%+ deep discounts, and though they may dip more the next 6 months, I will just buy more and hodl my crypto bags.
  3. I have taken some profits back to fiat (never wrong to take profits).

My goal here is that I’m not able to time the market effectively to buy at the bottomest bottom (is there even such a term) and hence zero loss. Nope, I’m not that good (though I wish, lol)

I’m happy to buy good assets with steep discounts and wait for them to zoom up during the bull cycle again.

Resource

I use https://nigelchua.com/crypto (cryptodotcom) for most of my hodling

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Time To Buy The 2022 Dip? (crypto and stocks crash)

Feds raise fees by 75 basis points

With feds increasing interest rates and both the stock market and crypto markets seemingly on meltdown (at this time in writing, bitcoin is hovering around $20K, which is “peak” of 2017 and down 60% from all time high of $65K).

…which brings about some questions:

  • Is it time to buy the dip?
  • Should we buy the dip?
  • When is it time to buy the dip?

Short answer: Who knows?

I take the approach of first dollar-cost-average (DCA) which means that if the market goes down, my pre-set budget buys.

If the market goes up, my pre-set budget buys.

I dont like or want to spend too much time looking at charts and being too absorbed or up-and-down monitoring the market (which I am very guilty of lol). 2nd approach is when I have extra surplus, I do extra investing as prices dip.

That’s pretty much most of it.

Reports show that time IN the market is more important than timing the market, and I am definitely not smart enough to time the market at all.

Resource

I use https://nigelchua.com/crypto (cryptodotcom) for most of my hodling

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Grow Your CRO Faster (what I’m doing to grow my CRO bag update)

I’ve been a cronos (CRO) crypto hodler since 2019, when it was first known as MCO (monaco coin). Went through the rebranding process and conversion, and boyyyyyyyy things have changed a lot since I started back then.

In a previous video, I shared on the 6 ways I used to grow my CRO bag then, but as there’s been lots of changes since then, I’m updating the most current way I’m growing my cronos crypto stack.

Watch the video for the delicious 2 core ways, and find out the 3 bonuses too if you use the method I am using to grow my CRO and CRONOS crypto coin =)

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Lost all my crypto?

What happens if I lost all my crypto holdings and portfolio?

I had a nasty nasty nightmare, that woke me up in shock and it took a couple minutes before I realized it was a dream (it’s a scary realistic nightmare man).

It’s probably a combination of trauma and reminder of my deep-seated unspoken fear about investing and speculating in cryptocurrencies (so easy to lose all your holdings by losing your security keys!)

…especially triggered with the recent UST – Luna – Anchor Protocol crypto collapse as well.

Deep and very serious reminders to:

Do not invest more you can afford to lose

Dont invest more than you can afford to lose and definitely, definitely do NOT borrow to invest (speculate or gamble) in high risk investments.

Crypto is definitely highly volatile and you can lose everything you put in there.

Take profits

My 2X rule now is that whenever an investment 2X (or ideally 3X), I need to take out 1-1.5X out.

Let the remaining amount go as far as possible.

Diversify beyond crypto

Don’t go all in or balls-deep into crypto (or any ONE investment).

Look, I believe in crypto, but it’s highly volatile AND doesn’t provide me cashflow like rental or dividends, so me and missus are now researching into income-generating assets to diversify into.

Start a side hustle to

  1. diversify your income (multiple sources of boss-less income)
  2. grow your network
  3. profits can be used to invest in other income-producing assets or reinvested
  4. potential to grow and scale

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Terra Luna UST Algorithmic Stablecoin Crash (6 painful reminders and lessons learnt)

It was a crazy, crazy weekend in crypto when Luna and Terra’s algorithmic stablecoin depegged from $1 and couldn’t keep the massive selldown from happening.

I never held UST or Luna before this meltdown, and I decided to gamble and catch falling knives, thinking that Luna’s CEO will save the day…but alas! I speculated with $6500-ish, and I think strongly believe that amount has gone for good.

I’ve been reading and listening on how so many people lost their entire life savings, some even their family money and it’s just been so heart breaking. Cry and grieve. It’s brutal. Just brutal.

But pick yourself up again, and start over.

For those who are still grieving, take a look at this from thewokesalaryman.

I was mulling over the events (as well as losing of some money), and was reminded of 6 important lessons in crypto investing:

Crypto is volatile AF

I believe crypto is an emerging sector in the S&P and economy, but right now, it’s not yet regulated. So it can be cowboy town with more than 90% shitcoins, rugpulls and scams left right center.

If you wanna enter crypto, please please please:

  • DYOR = do your own research
  • Don’t borrow money you dont have to speculate and gamble (you can win big, yes, but you also can lose big).

Diversify

I dont recommending going balls-deep and all-into crypto.

At most up to 20% of your total networth can be crypto, but even then, I wont put all this into one or two coins. It’d be diversified within crypto to a bunch of coins to spread out risks.

Yes, the rewards may be lower, but the #1 rule of investing is to not lose money.

Take profits** (rule of 2-5X)

This is a very, very important skill, rule and decision you need to learn and execute.

I learnt this when I entered crypto in 2017, doubled my paper gains, and refused to sell. It came crashing down more than 80% of my original amount (profits wiped out as well as principal — cry me).

Multiple similar experiences happened since then, and I learnt that I cannot always sell at highest and neither can I buy at lowest. The best solution for me was the Rule of 2-5X.

The most conservative approach is Rule of 2X, which means that once I double my money, I pull out my original investment. Eg if I invested $100 and it becomes $200, then I need to pull out $100. I can leave the remaining $100 to run and grow as house money. And take the $100 to invest in another. This is the most basic and conservative approach.

What I prefer is rule of 3X, where I can pull out 1.5X and leave another 1.5X to run. This means that I pull out both original invested amount AND profits already. And leave whatever balance to grow more.

Stable, regulated assets

Stable, regulated assets includes stuff like

  • rental properties
  • index funds
  • ETFs / individual stocks

These may not give the crazy growth like crypto, but they aren’t crazy volatile either lol – rental properties can be great for regular cashflow. Index funds are pretty standard returns, and great especially if you have time on your side.

Bitcoin and Ethereum

I think that in the end, whatever I budget for speculation and investment in crypto (say 20% of my networth), a big bulk of that will be in the blue chip of crypto ie Bitcoin and Ethereum.

These two seem to be the gold and silver equivalent, and maintain their value fairly well, despite market volatility and up downs. So if I have $1000 budget for crypto, what I will do is allocate $800 to Bitcoin and Ethereum; and the balance $200 to higher-risk-higher-return speculative crypto projects.

Diversifying and increasing your income is my answer

Learning to earn more income outside your main job continues to be my focus moving forward.

There are just so many benefits to building a profitable side hustle, from

  • diversifying from one main income
  • meeting and networking with more people
  • side hustle can be scaled bigger and more profits
  • etc

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Crypto.com Revives CRO Coin Card Crypto Staking (were we trolled?)

2nd of May 2022, Crypto.com announced in an email that they are killing their famous crypto card cro staking program (see this video: https://youtu.be/M1X9SZxTZok)

Of course there was very vocal hoo-ha and complaints.

There were many large amount sell orders too, in the millions of CRO coin being sold. Personally, as a mixed income investor and growth investor, CRO was up my alley because it provided me with income

  • 12% from Earn and
  • 12% from Stake

When the Earn program was knee capped by adding the tiering in (basically anything above USD 30K, the earn is pittance) – I knew their earn program days were over.

So I felt it was still okay that I could still lean on 12% from CRO card staking.

But when they announced overnight (literally the night before, as I got the email on 2nd May but the effects started 1st May), it was brutal and sincerely, fucking unprofessionally annoying.

I considered, and since I couldn’t get income from CRO, I think my CRO bag is too much, so I decided to

  • unstake my Icy White tier CRO amounts
  • sell those CRO amounts for both top ten crypto as well as to fiat (withdraw to my bank account)

I still have a good chunk of CRO staked in the exchange, but I’ll think about what to do with it later when the staking is finished.

Is CDC out of money?

Some of the hearsay (lol, in a nod to Depp vs Heard case) is that Crypto.com is outta money because they spent too much in adspend (advertising spend).

It’s unlikely they are out of money. This year itself, in January, they set aside USD 500 million to invest in early stage crypto start ups (ie crypto venture capitalism), paid out of their balance sheet (ie cash from business operations). They have cash.

So….if they weren’t outta cash, then why?

A few reasons in my speculated theories (hey, I’m no insider, but I can estimate why)

  1. It was in their plan all along to reduce such non-revenue-generating expenses. Paying out in crypto earn and cro staking doesn’t generate revenue for them at all. It was good and sexy to attract clients and users* (the keyword here is USERS. They want users who use their platforms and trade, so that it generates revenue).
  2. Secondly, they burned 80% of CRO so it’s possible that they need to create a buy-back event AS well as shake out passive, non-active non-revenue generating hodlers.
  3. This isnt their first time reducing earn or stake rewards since they started operations.

What should you do?

Dr Crypto Finance said this in this article: https://drcryptofinance.substack.com/p/crypto-dot-com-cdc-cro-crypto-crisis?

  • Don’t Sell Your CRO Right Now —> CDC is changing its fundamentals. This doesn’t mean it has lost its fundamentals. I, personally, believe it will succeed in its rebrand and will give Binance, BSC, and BNB a run for their money. Don’t sell for a loss now when you can sell for a profit 2 years from now (inflation-adjusted…)
  • Don’t Buy Anymore CRO Right Now —> market conditions are currently very volatile and I, honestly, have no idea where the price of CRO will settle. I believe CRO will not fall below 0.20 USD/CRO but I also might be wrong if CDC takes actions to move the price further down. At the end of the day, I think you have 2 years of bear market instability on your side.
  • Prepare To Buy More CRO In The Next 6-12 Months —> if you haven’t lost faith in the company, you may consider buying more CRO but at the 0.20-0.25 USD/CRO price point. Bear in mind that your DeFi wallet will continue to offer you ~12% returns on staking your CRO through various validator nodes if you do choose to buy CRO in the next 6-12 months.

What am I going to do?

For me, as I prefer and need to have income as well as growth (capital gains), I cannot just wait for CRO price to increase. I know their price will increase gradually with their

  • defi
  • cronos chain
  • crypto early-stage investing
  • others

But I need income to live. So for me, I liquidated a chunk to both

  • fiat, which I’ve drawn out to my bank account
  • top 10 non-stable coin positions

I’ll be withdrawing more crypto to fiat purchasing a rental property that has more stability.

Am I still in CRO?

Hell yeah.

I believe they can be a strong contender to Binance as they grow. I am still annoyed at the way they communicate and do things, and moving forward, I am setting my expectation that eventually there will be zero earn and stake rewards, and my returns on CRO will be purely on price action of CRO coin.

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Crypto.com stops and kills card staking program (no more crypto passive staking income!)

Sorry news indeed

I received this sorry, sorry news today, 2nd May 2022.

In a nutshell:

  1. decreased CRO cashback across all cards (most notably, all staked card cashback: Obsidian drops from 8% to 5%; Icy White/Rose Gold drops from 5% to 3%, Indigo/Jade drops to 1.5% and blue doesn’t earn any cashback at all)
  2. capping of CRO cashback below Icy White/Rose Gold and Obsidian – Indigo/Jade max $50/month and Ruby Steel max $25 CRO cashback per month
  3. the hardest hitting was the entire killing of crypto stake returns, which was the primary reason why I (and perhaps many others like me), still held onto staking

End of crypto.com?

To me, it marks the end of good crypto passive income (technically, crypto passive staking income) which I got as a Icy White CRO VISA card holder.

It was pretty good too, at 12% returns per year.

As I mourn this, I’m not dumb – I knew it’s a matter of time, but as I mentioned, there should be better tiering like say, go from 12% to 10% or 8%, is still acceptable.

But oing from 12% to 0%?

That’s way hard nerfing man, crypto.com.

Well, it was good while the earn and stake lasted, and I dont think it’s the end of crypto.com – they still have their developing cannons:

  • DeFi
  • Cronos chain
  • ?NFT (not sure if they’re strong with this).

What am I doing from here?

Well for me, there is little point to hold onto the card anymore, and I have shelved the idea of upgrading to Obsidian black. Zero benefits of locking $40K or $400K for zero stake returns as well as 3% and 5% CRO cashback.

So as my card stake has already hit the 180 days (6 months) staking, I unstaked it and sold my CRO for USDC. I am still holding onto CRO coins, just rebalancing and spreading out the love.

I will also be cashing out a portion to invest in more traditional investments, such as

  • rental property
  • index funds

Still have chunk in crypto of course

I think we’re still early to the crypto party, just that now we’re in bear market and winter, so I’m just gonna hodl after I withdraw profits and principal amounts, and camp on.

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Can Bitcoin price go up to $950K with adoption and government regulation?

Disclaimer: crypto is volatile and there are lots of scams out there – you can make a lot or you can lose a lot (or everything). Do your own research – this is not financial advice. I’m just showing what I’m doing, and I’m taking risks on my end too. I’ve been both right and wrong before, so do your research.

How I started in crypto

I entered crypto speculation in late 2017 when my best friend introduced me to it, and of course I was freaking skeptical when I first saw it. I was very cautious of it being a scam as I hadnt really heard of bitcoin or crypto before that (I’m in the offline physical therapy world).

I pored over whitepapers, got involved with different crypto and blockchain projects.

Of course, I definitely got rugpulled a number of times across different projects (the highest risks are with new projects with lots of hype and fluff and promises of high returns).

At the end of 2018, there was a massive crash (or correction?) as bitcoin went I sat on a paper loss of 80%++ – I was so sad and guilty when I told my wife, but I stayed for both the tech and adoption, which I believe will increase the price.

True enough, in 2021, my speculations in crypto sits currently at 300%+ of my original investment amount, and I’m sensing that it should have another good run as governments and regulations on board and after it gets regulated, the returns should be “normal like financial markets”.

Note #:1 regulations usually means that financial institutions, sovereign/wealth funds, pension plans etc will have more exposure to crypto as a whole.

I chanced upon some videos/articles and wanted to share this with you:

  1. Kevin O’Leary: Crypto Will Be the 12th Sector of the S&P https://www.youtube.com/watch?v=gSPSRVDN8l4
  2. Kevin O’Leary: 20% of my portfolio is in cryptocurrencies https://www.youtube.com/watch?v=vqkC_XcxxJg
  3. Kevin O’Leary: Buy The Dip And Chill For 1 Year – They Want To Fool You, Don’t Listen To Them https://www.youtube.com/watch?v=FKqEOFwTO2A
  4. Kevin O’Leary: This Is Your Last Chance To Become Millionaire – My Most Sincere Advice To You https://www.youtube.com/watch?v=5_cyE10Ljms&t=5s
  5. BlackRock, Fidelity and others to invest $400M in USDC stablecoin issuer Circle https://techcrunch.com/2022/04/12/blackrock-fidelity-and-others-to-invest-400m-in-usdc-stablecoin-issuer-circle/
  6. Coin Gecko https://www.coingecko.com/
  7. 2021 financial market value https://www.statista.com/statistics/421060/global-financial-institutions-assets/

I believe that crypto including bitcoin, ethereum, solana, ripple and other crypto/blockchain projects would be regulated soon enough, and that itself will lead to a global increase of crypto market cap value as a whole.

No dang crystal ball

Of course, I dont have a crystal ball though that’d be nice lol, but I am ready to hodl my crypto speculations for a good 5-10+ years and longer. Why this is the case is as crypto becomes mainstream, it’d become “normal” to have, own and use crypto as methods of making and receiving payment =)

Note #2 I made a mistake – I thought the global financial market is worth 105M (see link #7), but it’s actually closer to $460 trillion in 2021. And I hadnt factored in other types of investments such as real estate.

For reference, crypto market cap April 2022 is $1.9T. That’s a conservative 230X comparatively.

What you can consider

For those who want to dip their toes / speculate into crypto but unsure, you can consider

  1. speculating into the top 10 / 50 / 100 of listed coins on coingecko
  2. ask your employer/side hustle jobs to pay you in crypto/btc
  3. invest into companies that have crypto exposure such as Tesla, MicroStrategy, NVidia etc

Remember, direct crypto speculation can be very volatile though is an emerging asset class – do your research and assume you can lose your invested amounts.

I’ll be holding onto my crypto and 5-10 years plus and equally as important, is to cash out (take out principal invested and profits) regularly – makes me sleep like a baby because my loss-related stress levels go down significantly =)

As Kevin o’Leary said in one of his videos: buy the dip and chill.

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One Of My Potential $1K to $370K Shiba Inu Gamble (Robinhood lists Shiba Inu in 2022)

This is not financial advice – I am showing you what I’m doing and you need to do your own research. Do not borrow to speculate, invest or gamble. Crypto is highly volatile and you may lose whatever you put in.

Resources:

So when one of my best buddies sent me an article where Shiba Inu, a popular meme crypto token (#15 in the world at this point of time) is officially listed on Robinhood, a very easy-to-use and popular investment / trading app with more than 22.5 million users, I got really excited for SHIB.

I mean, it was interesting enough then as a community token and the projects they’re doing – but going on Robinhood…is akin to going mainstream.

And that’s a big thing in my opinion.

This Robinhood listing caused a 25% price surge of Shiba Inu globally (which is nice bonus #1 ehehe) and I took a look, Robinhood app is pretty easy to use too, which is again another nice #2 bonus.

How many SHIB tokens can I get with USD 1000?

Current price of SHIB: $0.00002713

With $1000, that’s mean I’d get around 36,859,565.05 SHIB tokens (rounding up to 37 million for simplicity).

$1k to $370K? Really?

It seems that the community of Shiba Inu is trying (or hoping) for Shiba to grow in price with an aim for $0.10 possibly within next 8-10 years

Remember, cryptocurrency is very volatile and risky. My $1000 in Shiba Inu may be worthless by then.

With 36,859,565.05 SHIB, at $0.01, that’d mean $368, 595.65 – a nice multiple if you ask me.

Even if it hits half the target at $0.005, that’s transforming my original $1000 to $184,297.00, which aint that shabby too.

Of course, it’s a long shot, high risk, and possibly doesn’t work out at all, so the $1000 can become totally worthless, and if it does, it doesnt affect me much at all. But if it hits 1c, it’d change my life in a nice and good way =)

Whales Investing Too

🐳🐳 ETH whale “Light” just bought 287,355,928,094 $shib ($6,577,577 USD).

An Ethereum whale by the name of “Light” just invested USD 6.4M (that’s million) to purchase 287B of Shiba Inu tokens. These are not small game playing, and it’s definitely heavy weight players (link to article can be found here).

That’s just ONE Ethereum whale.

What if I told you that there is many, many more Ethereum whales buying and hodling Shiba Inu?

And what if Shiba Inu is their hottest holding?

As more whales started buying SHIB tokens at a large discount, the total USD value of SHIB holdings jumped to $1.19 billion, which put it in first place among all other assets.

Biggest Ethereum “Light” Just Grabbed 287 Billion SHIB as Shiba Inu Dominates Biggest ETH Whales’ Portfolios

Interesting stuff if you ask me.

So that’s one of my gambles on multiplying my money using Shiba Inu crypto token for the mid-term play.

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