5 Things to do with Your Ethereum Savings
Do you have a stash of ETH in a wallet somewhere? If it’s burning a hole in your digital pocket, you’re probably thinking of things you can do with your cryptocurrency.
So, what’s the plan? How do you intend on spending, saving, or investing your ETH? We have five ideas for you.
#1 HODL
This first option is to do nothing. ETH is one of the best performing cryptos. In 2020, the digital asset doubled in value during July alone, with a current market price of around $400 per smart contract.
One thing is certain; the global financial system is in deep trouble. The overleveraged fiat money system will see eventual collapse under a mountain of debt as countries continue to spin the printing presses and devalue the paper.
By keeping your savings outside of fiat money, you avoid the systemic risk involved with the asset. Billionaire trader Ray Dalio was right when he famously said, “cash is trash.”
By keeping your money in ETH, you benefit from a slow increase in the value of your money, and you can choose to move it anytime you like. There’s no lockup period, and the price growth in dollar terms is better than most traditional portfolio assets like mutual funds and 401(k) plans.
#2 Crypto Gaming
If you feel like spending your money, why not have some fun and double your crypto at Ethereum casinos? There are dozens of online venues where you can deposit in your gaming account using ETH.
With ETH, you get fast transaction times, and if you’re withdrawing your profits in crypto, you don’t have to pay any tax. You move it to your wallet, outside of the prying eyes of the financial authorities.
The only time you have to worry about paying tax is when you want to convert your winnings into USD, Euros, or any other fiat money. As soon as you use the fiat system, Uncle Sam wants his cut.
With crypto gaming, you get hours of online fun and the chance to win big. Some players make huge gains on their accounts overnight, which is similar to the trading returns experienced in the bull run of 2017.
Most crypto gaming establishments offer a full range of online games. Choose from slots, card games, roulette, or any of your favorites.
The best thing about signing up with Ethereum casinos is the bonus. Some establishments offer you free spins and matched deposits. These bonuses help you start on the right foot with your gaming career.
However, make sure you look for casinos that offer low rollover bonuses. A rollover bonus means you need to spend the total deposit “X” amount of time before you can withdraw the funds.
What are you waiting for? Sign up for Ethereum casinos and start playing for crypto right now.
#3 Crypto Trading
If you’re not the gambling type, but the thought of exponential returns interests you, why not try crypto trading? Crypto trading can be profitable, buts it’s really risky. To be a profitable trader, you need a strategy; without one, you’re going to lose everything to the market eventually.
However, there’s good news for newbie traders like you. A crypto trading bot is the best way to trade the markets as a beginner. With a bot, you get a preprogrammed strategy directly from the minds of math and trading geniuses.
You open a trading account with the broker and program your risk settings into the bot. after funding your account; you’re ready to start trading. Load the bot onto your broker’s platform, and start trading.
Some crypto trading bots offer insane returns, with up to 97% accuracy on all executions. That’s’ better than most pro traders’ stats, and you get a passive, hands-off strategy. All it costs you to be a super trader is a monthly subscription fee to your trading bot.
#4 Buy Products
If you don’t feel like taking chances with your ETH, you can always go the traditional consumer route. There are plenty of online vendors offering you the opportunity to pay for products using ETH. Companies like OverStock thrive on crypto payments, and it’s a big part of their business model.
We think it won’t be long before the world’s largest retailers, like Amazon, start accepting crypto as payment for goods on the site. However, we think the payment system needs to gain more traction before the retail giants give it the respect it deserves.
#5 Donate
As a final option, if you’re feeling generous – donate some ETH to someone in need. There are plenty of podcasters and entertainers out there, struggling amid the coronavirus crisis. Follow a few of your favorite podcasters on Patron, and send them donations on the ETH network.
ETH offers a fast and effective method of sending money anywhere in the world. The transaction fees are far lower than a bank wire, and it takes a fraction of the transaction time to receive the crypto in the destination wallet.