How To Make Money For Travel - While You Sleep! - Travel And Ledger (2024)

• May 13, 2021

Investing is how! Some people prefer Stocks, others are game to try Crypto, but either way, investing is the best way to make travel money while you sleep! Apps are even starting to offer debit and credit cards so that you earn cash back in Crypto or Stocks just by using them to pay your day to day expenses! I don’t claim to be a financial advisory or anything, but all I can tell you is that through investing, I’ve been able to take at least 5 vacations since I started last November 2020 (invested with just a few hundred dollars in big return opportunities) just by my money working for me while I sleep!

And yes, that’s also why I’ve been posting so much! 🙈 I can afford to work my day job less!

A lot of you reading this are probably going to roll your eyes at me because all you know about is the media’s coverage and rumors about Bitcoin and “meme stocks or coins” like Dogecoin Cryptocurrency and/or Gamestop and AMC Stocks. But, keep in mind, these are just the socialized Crypto and Stocks that have all but taken over social media. Trust me when I say there are more solid long term investments you can make while you ride the waves of these short-term-gain kinds of options. Investing IS NOT just about planning for retirement!

I want to reiterate to do your research before investing in anything. In my opinion these are the best tools to use for newbies right now, but it’s an ever changing world so again… do your research for what is best for you! And for those of you that are pros, be nice to me and to those who ask questions in the comments!

Alright, now that I’ve gotten all the legal stuff out of the way, on to the fun stuff. I wrote this article for beginners who are not sure of the investing world, but are excited to make money in their sleep to travel with. If you already know enough to jump right in and pick up the FREE stuff, go ahead and skip to this page. You can also skip to this post for even more ideas how to vacation for FREE.

For the rest of you, make sure you fully understand each Section of this post before moving on to the next Section. There’s a lot of people who know way more than me, so simply “google it” if you need more info than I’m giving you. Again, I’m focusing this post on how to make money while you sleep by understanding the basics and what tools to use. You can always level up with professionals who know way more than me.

Don’t just invest in a Stock or Crypto because someone else says to do it. A lot of them get paid to advertise coins/Stocks just like a brand partnership. Sometimes it can be a scam or a “pump and dump.”

This is not a sponsored post, but I appreciate when you sign up through my referral link and we both benefit with FREE Crypto or Stocks.

• SECTION 1 - THE BASICS...

I’ll assume everyone unsertands the concept of Stocks so I’ll fast forward to Crypto. Excuse my bluntness and just bear with me as I explain my opinion upon the psychology behind the Crypto world and why it is good for you to have in the future, while also a great way to make money while you sleep. I’ll go into how to do it by Section 3.

It’s basically like trying to explain the psychology of the International internet to someone back in the day before the internet was invented. Imagine explaining Amazon to someone who goes to the post office or drives to drop off their own packages and doesn’t know anyone who lives somewhere far from the USA in Australia or China OR imagine explaining Google to someone who owns an Encyclopedia and already thinks they know everything about the whole world. ( Actually, I just showed my age there, some of you may not even know what an encyclopedia is lol )

No one ever explained to me how to invest my money. Why don’t “they” teach us this in school??? “They” only explained how the machine of the world works where you need to get a job and save your money. I had no idea my money could grow for me while I sleep. Only rich people know that fact. I wish I would’ve known as a kid what I know now and that’s why I want to pass on my knowledge now onto whoever wants to learn!

There’s many layers to Crypto so it’s more complicated as you run down the rabbit hole. Basics to know is that “Cryptocurency” (“Crypto”) is a term that covers all coins or tokens in the crypto (digital currency) world. The goal of it’s existence is to make an International currency.

For example, if I have a friend in Venezuela who needs money, for me to wire it to them, it will cost soooo much money in fees to use say, like a Western Union money wiring service (if they even offer that service there with their current government), it THEN gets calculated to the current exchange rate, THEN I can only wire them so much, let’s say up to $5,000 USD, THEN it takes a week or maybe ten days to process, THEN when they pick it up from the place it was wired to there is a risk that someone can come take your money etc (especially in third world countries where gangs and cartel are a threat).

With Crypto, I can send someone unlimited coins/tokens immediately, there is a small fee (called “gas fees” in the Crypto world) but the coin/token does not lose any value through the transaction. For example, if I send 3 Bitcoins/or coins/or tokens, they get 3 Bitcoins/or coins/or tokens. They now have/own the number of Bitcoins/ or coins/ or tokens, not just the amount of their current currency that they converted to in that moment, they actually have them to do with as they please. They can convert it into their native currency by selling it on a trading platform and download it straight to their bank account – all in a matter of MINUTES. (depending on the app you use.)

There’s a level of safety to it. They don’t have to pick it up somewhere or transfer it to their bank etc, they can sit on the coin and let it grow, or sell a percentage of the coin, or do whatever they want as the coin’s value fluctuates like a Stock. You can even think of Crypto as an International Stock market. If you own 3 of Apple’s Stock, you can give 3 Apple Stock to your kids or your friend etc in a matter of seconds. The difference is, when a new Stock first comes out, it already has the big guys invested in it. With Crypto right now it’s basically an even playing field and hedge funds cannot jump the line like they do in the Stock world yet.

That being said, you can understand the potential of how this has been huge for 3rd world countries who worry about cartel or mobs to monitor their activity when picking up money from Western Unions etc. If I send someone Crypto, they can sell a percentage of it and download it into their bank account! It eliminates a lot of the risk of carrying cash or money orders etc around. Also, for those that can’t afford to have a minimum deposit amount, they can now use their Crypto apps’s debit card and don’t even need to go to a bank.

Another benefit is that heaven forbid, a country get invaded! The idea is that they can quickly convert all their currency in their bank into cryptocurrency in a matter of seconds before the invaders seize banks etc. They can then take that cryptocurrency anywhere in the world.

Another benefit, is that you don’t have to have it on an app. I can carry it in a digital wallet and access it from anywhere in the world that has internet. We as Americans, operate on the safe-Disney-world-internet of Google, Yahoo, Bing, and Facebook search engines etc. But, there is the original internet (nickname Web3) where I open my computer and type a bunch of numbers into a computer in code form and I can still access my cryptocurrency.

So I have a number of ways to access my Crypto and I don’t have to rely on one platform or one bank to access it. There are trading platforms and wallets all over the internet. (Some trading platforms have their own wallet like Coinbase or Robinhood. In the Crypto world this balance can be held in Tether coins or USD coin which basically is always the same price as the American dollar. So imagine if other, especially third world countries, can sell their Crypto and move it into Tether/USD coin. Now, they have a sturdier currency to have a balance in.) A lot of countries are even offering to cash out your Cryptocurrency TAX FREE to boost their economies/attract tourism.

The fact that we are even getting taxed on Cryptocurrency just goes to show that the government is already way more involved in it than they want us to know about. They already accept it as a form of income that can be taxed. (These are just a few benefits of having Crypto and using it to pay for traveling off the top of my head.)

Here are some great resources get you started…

Ivan on Tech is a really good one.

You can also take this free MIT course… ocw.mit.edu …by Gary Gensler who explains cryptocurrency and the whole blockchain system.

(Listen while you brush your teeth in the morning 😃)

Just FYI, to fully understand the Crypto world, I’m going to mess with your mind a bit, mess with your sense of reality. There’s a reason at first “they” were like it’s bad, don’t invest in Crypto, it’s bad for the environment etc. It’s because “they” wanted to put all of their money in it first before it pumps! (Look on Youtube for famous people/investors bashing Cryptocurrency back in the early 2000’s and now they flipped and want you to invest in it all a sudden.) Bitcoin was sitting around $10,000 in November 2020 and now it’s at $60,000 in May 2021 and now it’s back down to $28,000. Guess who sold and collected their profits after the pump… Coincidence? No. The Crypto world already knew that Crypto is the future but “they” all made billions… BILLIONS after “they” have been on social media and on the news talking about it.

But, the beauty of Crypto is that it self regulates, plus you make money on the waves so right now there is ample opportunity for everyone to get in early on a number of different coins. Get in early! Look at history, AOL was one of the first internet dial up services and look where it is now… Google took over. So pay attention to how different currencies dip and flow. Bitcoin is the original so I don’t ever see it going away. It’s the original. In a way, it is like investing in a Monet or Picasso painting, you know it will always have some sort of value. As we move more and more into the digital era, the internet is going to change into an alternate reality or Virtual Reality world. A Digital world will need digital currency. (Remember that people always sell high and buy low. So “they” are creating these waves in the media on purpose, making billions every time so don’t be afraid to ride a wave with them as long as you take your profits.) This is why it’s ultimately better to invest in other coins for long term gains but I’ll get into that in the next section.

“They” also want to scare “regular people” from investing in Crypto FOR NOW until “they” all get in on it. That’s part of the reason all of a sudden “they” are talking about raising the taxes for capital gains to 28%. It’s not because of the rich and taxing the rich, it’s about scaring people into not investing in Crypto. If you’re making a million dollars, who cares if you have to pay out 28% in taxes? But the poor/ regular people don’t think with that mentality. It all goes back to power plays of keeping the poor poor and the rich rich so they are not a threat. The rich have businesses etc that can even out when they do their taxes with donations and investments so that 28% quickly disappears when they do their taxes. When you get that much money with your investments there’s nothing stopping you from doing the same thing! Don’t be scared!

ANYWAYS, conspiracy theories aside, keep in mind the true Crypto world thinks outside of the box that we live in. So you’ll have to think of the currency from a different perspective. Crypto makes it so that anyone can get a piece of the pie. There’s opportunities for FREE Crypto and most of it is set up so not just one person can control it. The idea is, people don’t have to be poor. Everyone can have food on the table!

Again sorry for too much information! But you have to understand the psychology behind it before you can start investing so you don’t lose money when you should have held but you sold for the short gains. And, now you know how to answer when someone thinks you’re crazy for investing!

DO YOUR RESEARCH!

• SECTION 2 - CRYPTO SPECIFICS...

www.coingecko.com is a FREE website or app and a great resource to learn about each Cryptocurrency and its characteristics. They also have a daily candy reward you can collect and use for Free stuff. Yep, more FREE stuff. Click on any coin and it will lead you to all the education you could want to learn about it, it also tells you it’s trading volume etc, it’s like the Nasdaq/Dow for Crypto. Another beautiful thing about Crypto is that you literally see every move a coin makes. For example (hypothetically speaking), if a bank offers you a mortgage for this set price etc, WHAT IF they didn’t have that money when the seller comes looking for it? WHAT IF they go out of business? How do you know how much money the bank has or how much they are loaning out? How do you know they won’t just take your money with interest and run with it without paying the debt?

Crypto is completely transparent. You can see exactly why the price is as the price is. It’s basic math, coin to cost ratio. This is why Dogecoin was originally made as a joke because it’s so easy to make more. While writing this, there are currently 129.4 Billion Dogecoins Available (AVAILABLE) on the marketplace. There is so many that there is never an amount supply, it’s always a ?. 129.4 Billion AVAILABLE! It’s now sitting at 45 cents (45 cents!) imagine how many people have to invest in Dogecoin/buy Dogecoin/ or how much money needs to go into it for that coin to get up to a $1 in value.. yet, for some reason thanks to social media, that coin is constantly on the move! But is it the people pumping it or a billionaire? Their numbers just don’t add up and that’s why it’s so controversial in the Crypto world. That being said, I’ve made a lot of money off this coin tho as it constantly pumps and dumps! So, if you’re looking for a good meme coin ( “meme coin” meaning it gets talked a lot about in the media so that it has high highs and low lows, aka easy to make money for vacations on those short term gains on the waves as it moves! )

Bitcoin however, is at $60,000 because there are only 21 Million in TOTAL SUPPLY. 21 Million TOTAL SUPPLY at $60,000 compared to 129.4 BILLION AVAILABLE right now!

Dogecoin is a great example of what social media can do, it is a coin that “they” could’ve invested in just in Nov when it was around .000007 cents so imagine how much Elon Musk made when he went on Twitter and pumped the coin/ aka told everyone they should buy Dogecoin. Imagine how many people he influenced to get the coin to go from .000007 cents to 38 cents. So, a lot of Billionaires are playing with this coin and running it up and down because imagine how much they make every time it goes up a penny if they invested MILLIONS when it was .000007 cents.

So, that being said, you can also make a good amount riding these waves when you understand the psychology behind it because you can buy in at 45 cents or buy in when it drops to 20 cents and ride the wave as it goes up and down. $100 will get you a lot if you invest in Dogecoin vs investing in a percentage of Bitcoin which has been sitting around $60,000 for a few months now.

Crypto is the future and is already being accepted as payment (but keep in mind it’s been around before billionaires were involved and will be there after they try to manipulate the coins)…

Dogecoin Accepted As Payment For Mavericks

Florida Accepts Bitcoin As Payment.

Tesla Acccepts Crypto As Payment

(Perfect example how “they” manipulate the system- just happened today – read this new article where Elon stopped accepting Crypto all of a sudden!)

To break it down in the coin world, this is the easiest way to think of it…

All coins are affected by Bitcoin which is the GOLD of the Crypto world. For example, it’s a lot harder to make gold than it is to make plastic, etc. Most coins are all influenced by Bitcoin’s value. Think of Cryptocurrency as Gold, Silver, Nickel, Copper, Plastic. Each has a value but each is different and some are easier to find/make than others. Think how easy it is to find a penny vs a chunk of gold. People would accept a gold chain as payment before they would accept a bag of pennies. Then you have each coin’s blockchain which is an added level of security. So basically, each coin has layers, like an onion, and the closer you get to the center is the more valuable the coin becomes.

Right now everyone values Bitcoin because it’s the original currency like gold and it has a lot of armored guards surrounding it because that’s what most people have their money invested in for years and years. Aka, there’s more and more people working to keep Bitcoin secure and safe. However, in the future, maybe a coin/token that’s faster with even higher security could become more valuable than Bitcoin itself. Or, a coin that in itself is more secure than having a lot of security guards around. (Imagine Etherium is like the new dollar bill, would you rather carry around a bunch of clunky gold or a few hundred dollar bills?)

All Crypto is generally new compared to gold which has been around forever. With new investors and seasoned investors investing 24/7 (yes 24/7 – unlike the regular stock market) as they discover that Cryptocurrency isn’t a scam like “they” want you to believe, there is even more opportunities to make profits. There are a lot more opportunities for big waves to happen. The waves are where you can make a lot of short term profits – vacation money gains!

What’s a wave you ask? It’s when a number of people buy in or when a number of people sell. When Bitcoin was going up to $60,000 it didn’t just go up to $60,000 all a sudden. It waved it’s way up. For example let’s say it went up $10,000 dropped $5,000, up $20,000 down $10,000 etc. You can research and see the charts!

The main reason it does this is because you have investors that have been in it since the beginning. They invested maybe $10 as a joke and at that time it was 3 cents for a coin or maybe just a dollar. Now Bitcoin is worth $60,000 per Bitcoin. Everyone has their price when they want to jump out and in my short term trading, for Bitcoin, I find it’s been generally around the $5,000 or $10,000 profit mark.

Imagine you were lucky and bought Bitcoin at 1 Bitcoin for $1000. It waves up to $9,000! That means you’re making $8,000 in a matter of days or hours or minutes. So, like any person would with such a high return, you sell your all your $9,000. Many others sell too and eventually it drops down to say $3,000. Now, you can buy back in for 3 at $3,000 each. Bitcoin surges again but this time you wait till it hits $20,000 a couple weeks later. Now, you’ve made $60,000 off a $1,000 investment!

This is part of the lure of Crypto because there are so many coins that are affordable. Remember Bitcoin was just $10,000 in Nov. There’s so many other coins that you can invest in at like $1.50 and they have the potential to surge up to $10 or higher. So imagine the possibilities. And the Crypto world always operates in waves, so if you want to ride these waves you have the potential to make those big profits multiple times a week, month, etc. Or, you can just sit on your coins and wait for that big run in a few years. Just depends how much you want to monitor your coins. This is how you can make good money on those short term gains. (If you go on coingecko you can look at the history of coins and see how their waves work and you can chart the activity if you want to know according to the candles/waves when a coin is likely to run up or drop so you can make a more educated guess if you want to play the short term gains.)

For long term gains, imagine the guy who sold 3 Bitcoins at $9,000 and took the profits but never reinvested. They’re probably kicking themselves for not waiting to sell their 3 Bitcoins for $180,000 (3 Bitcoins at $60,000). But, what if it goes up to $75,000, or what if it doesn’t? That’s where it’s always important to take some profits. Because once the coin drops, you lose all that money.(For example, Bitcoin dropped to $45,000 as I’m editing this post!)

Also, I want to reiterate who cares if you pay 28% tax on $180,000 when your initial investment was $1,000. But, the media is often trying to psych us out. Think of the psychology of why that is? Imagine investing in Google and then someone saying it’s bad for the environment (because it uses electricity) so you shouldn’t do that, that’s bad. Also, keep in mind this supposed tax could just be during this presidency and the next president can give Tax Credits for investing in Crypto. Who knows what the future holds???

Keep in mind you can buy coins on a trading platform and keep them on an external wallet and not pay tax until you decide to cash them out in ten years or something similar to old school bonds. By then, they could be worth MILLIONS. You could hold some profits for long term and then take millions of vacations too!

• SECTION 3 - WHAT I SUGGEST...

A great perk of coins is that newer coins offer incentives to buy them to start to build up a reputation and build up capital. For example, when a new coin shows up on Coinbase they usually offer you a free USD amount of the coin to learn about it. You watch a short video and then are rewarded with some of the coin. You are free to keep the coin, cash it out, or trade it for another, whatever you want to do.

Just like banks, Apps and coins are starting to compete against eachother and are offering APY interest earned. However, instead of .03% APY like a bank offers, coins so far are offering 6% – 35% APY and one I have (Hydra on Kucoin) is offering 180% APY for a short promotion – Yes 180%! “Staking” means that you cannot sell the coin you have for a period of time. It’s like having a savings account that you can’t touch for a few days or a few months. Keep in mind if you stake a coin that is valuable and is on the move, you will be able to make a big profit vs a coin that is not moving. So always think about a coin’s potential before you stake.

For example, If I put $50 in Coin 1 and $50 in Coin 2 that both have a 20% APY, but it doesn’t really move much, then I will only get 20% back. However, if I put $100 into Coin 3 which has the potential to grow in value, I could double my $100 to $200 and then earn the 20% on top of that $200. So I should’ve just put $100 into Coin 3 from the start.

Buy the Rumor and Sell the News!

@bitboycryptoTweet

(Ride the waves and take profits when it hits high because it will most likely go back down after the wave pump. You then buy back in with no “gas” (trading fees) with apps like Cashapp or Robinhood. Right now they only have a small amount of coins available. Robinhood has a ton of Stocks to choose from that you can do the same thing with for no fee. Just be careful because you can only day trade so may times a week.) Robinhood you can’t transfer your coin from app to app/ Cashapp you can send your coins to and from other apps but they only offer Bitcoin right now)…

• Bitcoin BTC – Remember, you can invest in a percentage of Bitcoin and when it makes those $5,000-$10,000 waves you can make big $ without buying a whole coin. (You should always keep some gold in your pocket.)
• Dogecoin DOGE (This coin only runs up when Elon Musk/Mark Cuban tweets about it but you can make a good profit on it’s run because it’s only 45 cents as I’m typing to buy in and one of the first Cryptos already accepted as payment.)

• Long Term Investments

• Theta THETA
• Ethereum ETH The next Bitcoin and could get up as high! (Now Bitcoin is so expensive, so it could be the next best option for safe/secure longterm growth.)
• Orchid OXT
• Decentraland MANA
• Cardano ADA
• Crypto.com Coin CRO
• Polkadot DOT
• Tron TRX
• Vechain VET
• Zilliqa ZIL
• Ripple XRP There’s a lot of controversy/conspiracy theories but rumor has it that banks have already acquired it. The speculation thinks banks will be using the XRP coin to create their own Crypto. (For example BankOfAmericaCoin/ Chasecoin etc) “They” don’t want the lower class to already own it because then we can put it into any bank. “They” are trying to dissuade people with the media meanwhile the coin’s value is growing. Just keep an eye in case you need to dump it but sounding more and more like it’s worth the gamble to own some. Again, just rumors but we love to buy the rumor and sell the news! This one’s a gamble.

• Where To Invest On…

Robinhood (No fees to trade Crypto or Stocks but there’s a limit on how often you can day trade. The downside is you cannot download the coin to an external wallet or transfer it anywhere. You only own the money amount of the percentage of the coin you own. They have no staking opportunities. I like that you can trade Crypto profits and then buy Stocks within the same app. Takes about a week to take out any money.)

Cashapp (No fees to trade but only supports Bitcoin right now. No staking opportunities..)

Coinbase Is getting annoying but they do still give away free crypto so I just keep it for that.

Uphold They now have staking! Great app!

Atomic Wallet (High fees and annoying to transfer money, but this is the only easy place to buy Tron and Zil. Good staking here, with more APY opportunities than other apps.)

Crypto.com (Light fees. Has low staking opportunities.) Love this app!

Kucoin (Very advanced and not a USA site but easy to use once you get it set up. It’s the only place to get something like Theta or other smaller coins with amazing staking opportunities.)

You will see there are a ton of different coins so just do your research and pick the ones best for you. These are the major ones right now everyone seems to be investing in and think will move big in the next 5 years.

I’m curious… did this post help you?

What other posts would you like to see?

Send Me a DM on Instagramand I’ll try to integrate it into a future post!