Monday Night Finance- Volume 82

Published
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Crypto Staking: Passive Income Generator or Scam?

The 2020s have seen a surge of excitement around cryptocurrencies, with many investors, traders, and even businesses embracing digital currencies as a new asset class. The popularity of cryptocurrencies is due to several factors, including the potential for decentralization and financial autonomy, the ability to make fast and secure transactions, and the potential for massive returns on investment. Bitcoin, the world’s first and most well-known cryptocurrency, reached all-time highs in 2021, leading to increased mainstream adoption and interest. Additionally, other cryptocurrencies, such as Ethereum, have gained popularity for their ability to power decentralized applications and smart contracts. Despite concerns over volatility, regulatory uncertainty, and security risks, cryptocurrencies have become a hot topic in the financial world, and many experts predict that they will continue to play an increasingly significant role in the global economy in the coming years.

The thing is, I’m not anti-crypto. I’ve actually been following the crypto space for years. Personally, I think it’s really interesting technology and the technical details of it are endlessly fascinating to the computer nerd part of my brain. But the finance part of my brain then looks at it from an investing perspective, and it doesn’t even come close to passing the smell test.

Bryce Leung and Kristy Shen of Millennial Revolution

The article by Kristy Shen and Bryce Leung explores the concept of crypto staking, which involves holding cryptocurrency in a wallet or exchange to validate transactions on the network and earn rewards in return. The author discusses the potential benefits of crypto staking, including passive income generation and potentially higher returns compared to traditional investments, but also warns readers about the risks associated with staking, such as technical issues and the possibility of losing funds. The article concludes that while crypto staking can be a legitimate way to earn passive income, it is essential to do thorough research, understand the associated risks, and carefully choose which cryptocurrencies to stake to maximize potential returns.

How to Pay Taxes with a Credit Card (and Profit) in 2023

Credit card rewards programs are a way for credit card companies to incentivize customers to use their cards for purchases by offering various benefits and perks. Rewards can come in the form of cashback, points, or miles, and the amount earned typically depends on the type of card and the category of purchase. For example, a card may offer 1% cashback on all purchases and 2% cashback on gas and groceries. Rewards can then be redeemed for a variety of things, such as statement credits, travel, merchandise, or gift cards. To maximize rewards, cardholders often strategically use their cards to earn the most rewards possible, such as using a card with higher cashback rates for specific categories of spending or taking advantage of sign-up bonuses. These benefits can be especially useful if you use them to pay for essential purchases and then pay off the balance in full each month.

Theoretically, if you use pay1040.com (1.87% fee), any rewards credit card that rewarded 1.87%+ would result in a profit. There are a few rewards cards that earn 2%, for example.

GE Miller- 20 something finance

The article by GE Miller explains how to pay taxes using a credit card, which can be useful for those who want to earn rewards or take advantage of credit card promotions. The author discusses the steps involved in paying taxes with a credit card, including choosing a payment service provider, calculating the fees and interest rates associated with credit card payments, and understanding the potential benefits and drawbacks. The article also provides tips on how to minimize fees and maximize rewards, such as choosing a card with a low or zero percent introductory APR or earning cashback or points on tax payments. The article concludes that while paying taxes with a credit card can be a convenient and potentially lucrative option, it’s crucial to weigh the costs and benefits and use credit cards responsibly to avoid debt.

I Sold 100 Etsy Printables in Two Weeks

Have you ever wanted to find an easy way to make extra money from home through a side hustle? Side hustles can take many forms, such as freelance work, consulting, or running a small business. Some side hustles can even turn into full-time careers, especially for those who have a passion for entrepreneurship. One popular platform for side hustlers is Etsy, an online marketplace where individuals can sell handmade or vintage items, craft supplies, and other unique goods. Selling on Etsy can be an excellent way to turn a hobby or craft into a profitable business and connect with a global audience of potential customers. But can you actually make money selling things on Etsy?

In late January, I opened an Etsy store. Two weeks later, I sold over one hundred Etsy printables.

Does that seem impossible or unbelievable? Before I opened my store, I would’ve thought so too. 

Is it a fluke? Maybe. Lucky timing? Probably. Could it ever happen again? I have no idea, but I’m determined to find out.

~One Frugal Girl

The article is a personal account of how the author, an Etsy seller, was able to sell 100 printables within two weeks and make a significant profit. The author shares some tips on how she marketed her products, such as optimizing her titles and tags, creating a visually appealing shop, and promoting her products on social media. The author also discusses the importance of customer service and providing high-quality products to maintain positive reviews and repeat business. The article concludes that selling on Etsy can be a profitable and fulfilling side hustle, especially for those who have a passion for creating and want to turn their hobby into a business.