This table displays Bitcoin Historical Prices on January 1st of each year. When you zoom out to the broader picture your conviction will be tested by so-called Crypto Winters of seemingly endless negativity, while the euphoria of prolonged periods of positivity can seduce you into thinking price can only ever go up, encouraging risky behaviour. Pay too much attention to the daily price gyrations and you can twist yourself in mental knots thinking you should be cashing in when the price is rising or bailing out when it falls. This can make investing in crypto a challenging experience for newcomers. Sentiment also has a tendency to become embedded into longer-term cyclical trends of both appreciating prices, known as Bull Markets, and long-term decline, known as Bear Markets, which can last months or even years. Volatility.Ĭrypto markets are led by narrative more than fundamentals, which when amplified by a risk-taking mentality among traders, produces short-term volatility with huge daily swings in price. You might compare it to saving pennies in a jar, or rounding up purchases on your banking App, but there is one key difference between saving fiat, and cryptocurrencies like bitcoin. Stacking sats is as much a mindset as it as a crypto savings strategy. Stacking Sats, hodling & the Low Time preference mindset Stacking sats is at the core of Bitcoin culture, so it's important to understand why that is, before looking at the practical ways you can slowly grow your own stack of bitcoin, or any other cryptocurrency. A sat is an abbreviation for a satoshi, the smallest denomination of the most popular cryptocurrency, named after its pseudonymous creator, Satoshi Nakamoto. So have at it my Jessies! If you don't have something to comment, "I am a Jessie.Stacking Sats is a phrase used by Bitcoiners to describe the steady accumulation of small amounts of bitcoin. You'll be sending 100 sats my way once you sign up with the code :) Have your say Note: If you're keen on donating some sats my way, then here's my referral code for sMiles: cesc04880 If you want to try out sMiles or you'd like to learn more about the app, check out their official site here. I've been using it for a week now, and I've bagged a few 100 as for just checking in each day which isn't too bad. Once you hit the threshold, you can withdraw it to any lightning wallet this could be a custodial wallet, non-custodial lightning wallet or an exchange that supports lightning. So now you want to know the important part, how do I cash out? Well, you'll need to reach a minimum of 1000 sats in the app. The app still looks like it's in its formative stages and looks to be releasing an in-app store and more features to come. You can also earn sats with their daily wheel spin game, and there's also a chess game you can play to earn some sats. The app validates your steps each day and provides you with some sats depending on your performance. I am using it on iOS, so it syncs with the health app on the phone I am not sure how it would work under Android. SMiles is a pretty basic fitness app it doesn't give you much data about your workouts. That means setting up is far easier, and I don't have to create a new account with a certain exchange Bitcoin is Bitcoin. We all know how much Bitcoin is worth it's the deepest, most liquid crypto, so why wouldn't I want to earn it? I can exchange it with a range of exchanges or use it in different wallets. This is why I was pretty stoked to discover sMiles, an app that pays you directly in Bitcoin and makes use of the lightning network. The entire point of these apps is to reward you with value, and while some of this value can be seen on paper, very little of it can be accessed. I think trying to tokenise everything and maintain your own token was a novel idea, but in practice, it's a pretty poor experience for the end-user, and we can see that by the fact that very few of these apps have really taken off. They all pretty gimmicky, and to be honest, their tokenomics aren't that great many of their coins aren't worth much, nor have a deep enough market for you to sell or get anything from it. I've tried using several fitness apps that pay you in crypto, and so far, I don't really see a clear leader. I am always looking out for ways to earn a few extra satoshis on the side Bitcoin bought is sweet, but Bitcoin earned is always a lot sweeter.
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