Earn Bitcoin For Making Everyday Purchases
Passively Stacking Sats Is Less Stressful Than Timing The Market
One of the most stress-free ways to increase your bitcoin stack is to earn bitcoin passively.
And one of the easiest ways to earn it passively is by using a bitcoin rewards credit or debit card.
One such credit card is Fold’s new Bitcoin Rewards Credit Card, which I wrote about for Bitcoin Magazine this week:
I’ve been using Fold’s rewards debit card to make everyday purchases and to pay bills for over four years now and I’ve stacked a fair share of sats in the process.
With that said, I no longer even use Fold as my primary bitcoin rewards card. Instead, I mostly use my Gemini rewards credit card, with which I earn up to 3% back in bitcoin on purchases.
I highly recommend using either of these.
(With that said, I personally don’t use either of these all that much while bitcoin’s price is high. These tools are great for bear markets, when it’s super advantageous to accumulate sats passively on the cheap.)
Proton Wallet: A Greater Starter Self-Custodial Wallet
Once you’ve earned a significant amount of sats with Fold or Gemini, you can move them into your own custody using Proton Wallet, which just released a free-to-use non-custodial wallet:
What I like most about this wallet is that it’s easy to use and allows you to send bitcoin as easily as sending an email.
Check out the article above to learn more.
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And once you’ve stacked a bunch of bitcoin in Proton Wallet, you can transfer it to cold storage using a Trezor wallet.
The Trezor Safe 3 is a great cold storage wallet to start with.
Click on the image below to get one today.
The Era Of Open-Source Bitcoin Banking Has Begun
Starting a bank is quite difficult and expensive. But in this Bitcoin age we’ve entered into, it’s getting easier.
Just ask Galoy CEO Nicolas Burtey, who created the Blink wallet (we can’t use it in the US because the US doesn’t like freedom), an everyday custodial Lightning wallet that is essentially a Bitcoin bank.
I spoke with Burtey about Blink and about his helping community banks and credit unions offer bitcoin-backed loans in my Founders piece for Bitcoin Magazine this week.
He’s an incredibly intelligent guy with quite a vision for how open-source technology can reinvent banking as we know it.
Markets
Bitcoin (BTC) is still trading a bit below $100k, and it’s ranging from about $90k to $108k.
It’s previous ranging period (in the lower purple section on the chart above) lasted for about six to seven months.
This one is already about three months old. I didn’t think we’d be here for this long, yet here we are.
It seems that the market needs some sort of catalyst to head higher, and I’m not sure what that will be.
Inflation is increasing once again, which means the catalyst likely won’t be the Fed’s cutting rates any time soon. (If the Fed does cut rates, that essentially means it’s doing something that will cause more inflation while inflation is already running hot. At the same time, if it keeps rates high, our debt will continue to balloon at a faster and faster rate, and the interest on the debt is already the biggest line item in the US’s budget. In short: clown world. But I digress…)
Many US states are looking into creating strategic bitcoin reserves, and if they start buying, that could be bullish for bitcoin’s price.
Hard to tell where we go from here. Still feeling like we have more upward action headed our way —eventually — though.
I Stand Corrected
In last week’s edition of the newsletter, I wrote that no other crypto asset has ever made consecutive all-time highs (ATH) vs. bitcoin in subsequent bull markets, but I was wrong.
One asset has: DOGE
It made a subsequent ATH vs. BTC in the 2021 crypto bull market:
Does that mean you should have been invested in DOGE all along? That’s up to you, as nothing I write about in this newsletter is financial advice.
Despite DOGE’s performance vs. BTC in 2021, I still have no interest in the asset. Therefore, I’ll continue writing about Bitcoin — the world’s neutral money and settlement network — in this newsletter.
Thanks for reading, and here’s to a fantastic week ahead!
Best,
Frank
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Good stuff!