I often get asked if I teach English online for DaDaABC as my main job…and yes I do!
And I only teach three days a week. Allowing me plenty of time to devote to my other income sources.
People also always ask me what I do to supplement my DaDaABC income…well the answer is…a couple things.
This website you are on is one of them. Here’s an article about how you can set up a website similar to this one.
But one of my favourite sources side income is trading Bitcoin and other cryptocurrencies.
What is Bitcoin?
Bitcoin is a cryptocurrency that has taken the world by storm. And people are making a lot of money by trading this alternative currency.
Bitcoin is a way of exchanging value without having to involve the middle man of banks. It is a person-to-person exchange which continues to gain popularity…which reflects in the value of Bitcoin which continues to grow!
So how can you make money trading Bitcoin?
So let’s pretend the value of 1 Bitcoin is $4000. You then purchase this Bitcoin for $4000. After several months, the market has dictated that 1 Bitcoin is now worth $8000. You now sell your Bitcoin for dollars and have made $4000 on your initial investment.
Obviously the world of trading cryptocurrency goes a lot deeper than that.
But that is it at its core. It’s all about buying low and selling high! This is obviously not a guaranteed way to make an income, but I find it to be an awesome side project alongside teaching for DaDaABC.
Where to buy Bitcoin?
If you’re wondering how to get Bitcoin, first, you’ll want to get yourself a Bitcoin wallet online. I suggest using Exodus.
You can then purchase Bitcoin from a cryptocurrency exchange. A great one to start off with is Coinbase.
Coinbase is great to start with as it is so simple to use.
How to use Coinbase
After setting up your account and getting your identification verified. You will need to send an international payment to Coinbase. This will be the money that you wish to exchange for Bitcoin.
Now you can either simply exchange your money once it appears in Coinbase for Bitcoin, or you can use GDAX (this is an exchange owned by Coinbase, which is slightly more complex to use, but it has cheaper fees!)
Think of Coinbase like the nice cover of a phone and GDAX is the circuit boards and electrics on the inside.
GDAX will allow you to set more complex orders, such as an order to buy only once Bitcoin drops below a certain value.
You can also send your Bitcoin to your Exodus Wallet for free to keep safe. However, if you send from Coinbase to Exodus, it will cost a fee. That’s why I felt it was important to mention GDAX.
If you wish to trade for a wider array of cryptocurrencies that Coinbase and GDAX don’t offer, you can use an exchange called Binance.
I don’t want to get too technical, as I only wish to give an overview due to this not being a cryptocurrency website. However, I wanted to mention it as online teachers are often generally interested in other ways to make money online.
Click the image above to apply to be an online teacher for DaDaABC
Why do I trade Bitcoin alongside teaching for DaDaABC?
As you may have seen from the video and article I made of Travelling with DaDaABC, which you can find below, I wanted to find a way to travel whilst earning money.
DaDaABC provided this way of life. And the flexible lifestyle of working for DaDaABC has allowed me to try out other projects on the side, such as trading cryptocurrencies like Bitcoin.
DaDaABC has provided me with a digital nomad lifestyle of working from my laptop, from anywhere I want in the world. So now I am determined to explore all the other ways to make money online and share it will all of my readers!
Hopefully trading Bitcoin and cryptocurrency will continue to help me live the flexible lifestyle that DaDaABC has provided. [I’m not financial adviser, just a DigiNo sharing his fascination with cryptocurrency]
Click the image below if you would like read more about how to travel with DaDaABC: