Unless you are a day trader or leverage trader in crypto you might be looking for other creative pursuits of getting income in crypto. In Particular, you might want to get passive income or an extra income in crypto. The one possible way to achieve this comes from the nextgen memecoins. These are the coins where you get a certain percentage of all new buy-ins in a crypto project. This is made possible by a community tax where the profits are distributed automatically through reflections.
Getting a monthly income from crypto reflection tokens then might not be so difficult. All you have to do is to hold the token in your crypto wallet. However there are a few things to consider when choosing the right crypto to buy into.
Choose Diamond Hand communities
Always look for the communities that have a strong core of believers in the project. People with a long term view on the project that will not sell for pennies, but have vision and a long term plan to get a stable price floor for the token. Join the Telegram Group of the community and get a sense of who the people supporting for and working for the reflection token are.
Do not go all in on a single project. Spread your risks by choosing different reflection tokens. You could have one reflection token for BNB, another one for BUSD or a third one for Doge. There are also reflection tokens like Catpepe offering rewards in Kiba and Turtle offering reflections in Marshall Inu if you are looking to capture the big rally in an alluring memecoin.
Invest in the future
As reflection tokens have a heavy sales tax, trading with them isn’t always the best strategy. While it is always good to take profits going out and in too much is not a solid strategy. For one it takes a lot of work – and if the plan is to get passive income from crypto you will soon find out that trading requires a very active mindset and is not as easy as you think.
Work with the project
When you have invested in a token the best thing you can do is to help your community, nurture it and increase the market share it has. You can become a moderator in the Telegram group, promote the token on Telegram and Twitter, network to meet new interested holders and socialize with the community.
Can you get rich with cryptocurrency?
A lot of people are eager to tell you that you can’t but remember that the negative people were wrong about Bitcoin, Hex, BNB, Dogecoin, Shiba Inu and almost every other altcoin that have made people millionaires from only a small investment. If you see a solid project you believe in is going to make it – a team with potential to grow then this is a crypto that could make you rich.
De-Risking your portfolio
As you have understood, having a reflection token is a good way to de-risk your crypto and having several different reflection tokens will derisk your portfolio even more. Naturally other investments like real estate, antiques, precious metals and mutual funds could be other solid ways to de risk. The mutual funds are popular and convenient for the average retail investor. However, crypto has a real chance of becoming a disruptor in the world of finance.
Adding the perfect moonshot
Last but not least you should try to get in on the absolute ground floor in a token that has serious potential to do great during the next crypto bullcycle. $Shelon might very well a well-rounded realistic opportunity to make an investment that pays off especially considering its reflections. Ultimately you would like to allocate your money in tokens where the ELON-effect ensures a parabolic price-action.
Elon was the man creating the hype around Dogecoin to make it explode and as a consequence giving the copy-cat Shiba Inu an even greater price appreciation. Shiba Inu gained 46,000,000% in a year mostly because of the ELON-effect. History never repeats itself, but it often rhymes. This is why your crypto wallet should take an honest look at $SHELON.