Hello Cryptomaniacs!
I really didn't think that I would get so involved in blogging because I was consider just average in my writing skills in school. I try not to use anything fancy in terms of my vocabulary because I believe in intelligent communication meaning, getting the message through to my audience.
So moving on, based on the title, yes there is a way to fund your crypto portfolio for free. It's pretty straight forward so you will need the following:
Credit Card
- Find one that has 1% - 2% cash back and you are able to get it as a statement credit or direct deposit to your bank account
- Premium points that offer redemption for flights (Aeroplan for American and Canadians)
- Take advantage of the welcome bonus points and free annual fee being waived. This also includes offering bonus points and annual fee for supplementary cards as well.
Purchasing Vendor
- A company that will buy your points (please shop around as the value of the points do fluctuate between vendors)
- Some of these vendors do not always give you the final price they are willing to pay for your points so learn to bargain with these people/companies
How to Earn Points/Cash Back
So for the people who are already trying to convert all their spending on the best card they believe that will cash in the best value either in cash back or points then you know what to do from this point. However, for the ones that are using a credit card just for collecting points with no end goal in mind then listen up.
This is what I've done:
- Apply for Aeroplan credit cards and take advantage of the welcome bonus points and annual fee waived. (Collected almost 100K in points) This points alone was worth from $1000 - $2000 depending on how the USD/CAD was traded at the time
- Put all my spending on the card that required the initial $1000 - $3000 spending to qualify for the bonus points
- Continue to put purchases on my card to continue to rack up points (Some cards offer an additional 25% more points)
- The bank would offer me an upgrade to like a privileged card or platinum with additional bonus points
- Contacted my person that would buy my points and received either cash or eTransfer for the points.
So, you will probably need to do some work to find out what banks are offering in terms of points and then confirm with the vendor as to how much they are willing offer you per point.
Why Sell Your Points?
The only reason why you would sell is if you are currently using the points for redeeming merchandise or gift cards which is valued anywhere between 0.7 cents - 1 cent per point. The only time where it would be valuable for you to use for yourself is if you are flying business class which the value then jumps up to 13 cents per point. Again though the name of the game here is to fund your crypto so that you never have to rely on these points systems to get the life that you deserve.
Trading and Investing Without Emotions
Since you have funded your account with money that came directly from your bank credit card from the simple way of just spending, you should feel less attached to the funds that you will be investing with. The #1 problem with traders and investors is the emotional attachment to the dollar that they have. Why is it that when someone plays with monopoly money they make the best trading/investment decisions but when real money is on the table they always come out either breaking even but most times, losing money. This is the killer and I hope that funding your account with 'monopoly' money from the banks would help ease the emotional attachment since its money you never really made.
So what are you waiting for?
In my opinion, 2018 is going to be the final year that you will see gains of 1000% so if you risk $1 to make $10 why not use the money that the banks gives you in the form of points or cash back to play with? This way you are not too heavily exposed by using your life savings or using debt and you will have the peace of mind that if shit hits the fan, you can walk away from all of this saying "at least I took the risk and I have no regrets". Good luck and I hope this helps get you started.
