Over the course of this series, we’ve touched on tons of ways that gamers wanting to grow a collection without spending they salary directly. Today, I want to get into a few more details regarding specific revenue possibilities. I know a lot of you lot are bored to death with this series, but I’m hoping that at least a couple of you might be interested in making their collection self-sustainable. Why don’t you join me? Trust me, this gets to games quite quickly.
BASICS OF CRYPTO TRADING
This is by no means a comprehensive guide on how to invest in crypto. That’d take ages. But if you can avoid bitcoin trading mistakes, the truth is that the volatility inherent to crypto trading is a prime opportunity for making a quick buck. Now, I must say out of the gate, that it is also a prime opportunity to lose a ton of money, so take that into consideration. But the fact is that Bitcoin can lose and regain (or gain and lose) as much as 50% of its value in as little as 24 hours. Let me put it this way: Sometimes, if you invest a Super Nintendo’s worth of money into Bitcoin, if you made the right move, you could be coming out of it with a Little Samson cartridge’s worth of money. For platforms, I really like Kraken, as it’s backed by actual banks and it’s unlikely to just evaporate into thin air, something that is sadly quite common for off-shore exchanges.
Everyone and their dog is doing PC and electronics refurbishing, it seems. But the truth is, it varies wildly by market. People in developed economies, particularly content creators, have long lamented the fact that it’s quite hard nowadays to do a refurb, and flip for profit. But here in Paraguay, where I currently reside, it continues to be quite profitable. Actually, because of the situation we’re all in right now, it’s even more profitable, because a lot of people are letting go of their used stuff in efforts to make money, and people looking to buy something prefer to buy used to save a few bucks. I’ve started doing cellphone refurb now, and it’s been going OK. If it’s something to do with the hardware I usually don’t bother, as I can’t find the parts here, but a lot of times people just need the money quickly, or it’s an issue that’s easy to solve, like a dead battery or a corrupted operating system. I’m not saying you should go out and start repairing cellphones. But a lot of us have hidden talents or abilities. Find a way of monetizing that, and help stabilize your collection and income.
THINK LONG TERM
This is a big one, and one that has influenced me more and more over the past year. Do I really, really want this? Will I ever play it? Will it bring me happiness? Will this purchase jeopardize my ability to pay my bills, buy food, care for my family? We all have different responsibilities, and we must consider all of them when making a purchase. Some purchases made even a couple of years ago could be worth many times the initial investment. Can you imagine if you were one of the people who bought like 50 of those PSTV Dualshock 3 bundles? They are going for over US$200 now. But others are just taking up room and depleting your resources. What I do now is wait. If there’s something I want, I wait for a couple of weeks. Usually, by the time the two weeks pass, I no longer remember what I wanted. That’s consumerism for ya! Other times, I really, really want something. If I’ve been wanting to buy something for more than 4 weeks, and I can afford it without putting myself at risk, then I look into buying it. This “wait it out” technique has increased my funds tremendously. I’ve only bought 5 things this year that were not related to food or shelter. And you know what? I’m actually happier than I was when I bought stuff almost every day.
Join me next time for even more thoughts on collecting, investing and sustainability. In the meantime, stay classy, and I’ll see you next time.