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I've been burned so many times with alts, I'm very cautious when I buy. I know some alts will drop 95% and never recover, but with Bitcoin I can stomach holding that through a bear market.
We've been ranging for months and I'm not pulling the trigger until a dip like today or we reach new ATHs for BTC. I think that's more likely when we'll start running up again.
That being said, I am very happy most of my portfolio is Bitcoin right now lol
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Years ago, we experienced dips of over 90%.
During the last cycle, the dips were over 50%.
This cycle, we haven't even seen a 50% drop yet.
Drops like this are routine and volatility is clearly decreasing over time.
It's normal to get nervous, but over time I've gotten used to them.
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I don't know if I trust myself to memorize 12 or 24 words.
The main point isn't about memorizing though, it's to make sure no one can get their hands on your full seed phrase.
I've seen the option of using a secret 25th word. I think some Hardware Wallets support this, so even if someone finds your seed, they'd still need that one extra word, and you’d only need to memorize that single word.
Another option is to split your seed phrase in 2 pieces and store them in separate locations.
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So many no-kyc centralized exchanges have already made kyc mandatory, due to pressures from regulators. The DOJ have also charged KuCoin for money laundering through failing to provide efficient kyc procedure. It is obvious that it will be difficult for a no-kyc centralized exchange to operate right now, and as for p2p exchanges, there are still a lot of options you can choose from and they are working fine for now.
There are also still centralized no KYC exchanges. The last time I was using MEXC like 2 months ago, the daily withdrawal limit for customers that do not get verified is high, although it can be small to some people. Also are still few other exchanges like that. Yes also are some bitcoin and other crypto P2P marketplace like that. Yea, big exchanges like MEXC and KuCoin tend to crack down fast nowadays. I think now smaller platforms like BYDFi and most P2P markets are more likely to keep it going longer, especially if they have under 1M users. https://kycnot.me/https://rankfi.com/best-mexc-alternatives/MEXC was the biggest one that fell, those posts list some updated ones |
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Another option I've seen is offering consultations and one-on-one calls, like helping beginners set up hardware wallets and answering all their Bitcoin questions.
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There are a few main categories of things you can do.
1. Affiliate Marketing (the easiest) - Join affiliate programs for products that genuinely help your group and solve some of their problems. Then, create valuable posts that naturally share those products as solutions, like product reviews. Ideally, find programs that are high-ticket or have recurring commissions.
2. Create a Skool Community - This is becoming really popular. Essentially, it’s a paid monthly community. Offer your Facebook group a paid version that includes more value and resources.
3. Create a Digital Product - Engage with your group to find out their biggest pain points. Then, develop an info product, Notion database, eBook, or something similar that addresses those needs.
4. Sell Ads or Sponsorships - Reach out to brands and pitch your community. Tell them, "We have a Facebook group of X number of people who would love your product," and see if they're interested in buying ads or sponsorships.
Remember, all of these strategies will only work if your Facebook group is active.
The end goal would be to implement all of these over time.
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While the markets moving sideways I'm being very careful with Memecoins and similar plays. Right now I'm adding to my long-term bags.
Once we get bullish again and break ATH, then I'll dive in.
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