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RE: Easter Holiday At Crypto Retreat In Norway
Yeah..I've decided to hodl no matter what. I own some of the best cryptos there is..so I just ask myself; Do I beleive in the future of cryptos? Yes. So what can I do right now? Just close my eyes and wait.
It's a bit different with me though, when I'm lucky and the traffic is good I can flip coins over with a reasonable commission, meaning I can earn money simply by being online and handle requests.
How does that work? :)
I'm a market maker for local cash- and bank transfers, most of the traffic comes from Localbitcoins. People are willing to pay some percent premium for being able to convert quickly from fiat to crypto and vice versa.
On bad days everyone is buying, and the coin value increases much faster than my commission before I'm able to restock my crypto holdings - or worse, everyone is selling, and the coin value drops much faster than my commissions. Sometimes the opposite happens, good for me, bad for my customers. On good days the price is stable and there are customers both buying and selling.
If it is you business then you should have a backup plan and two providers.
I do have a day-job, this is "just" a hobby, even though it probably earns me more than my regular salary.
If it was my business, I'd automate things a lot more, there is just no justification for doing manual work when it comes to the most ordinary banking bitcoin trades. One of the problems is that it's very hard to get a business banking account for such a purpose. I'm a bit involved in a startup trying to put up a domestic trading platform, but they still haven't managed to get any banking account for this purpose. Ordinary private citizens have a bit more rights, but it's a fine line, some of the banks are now throwing out customers doing crypto trading on a regular basis.
That said, my intention is to always have a working backup telephone, so I can quickly resume using the same mobile wallets, google auth, etc.